Bitcoin’s halving countdown – These are BTC’s price targets for next 7 days
Bitcoin dropped by 5% in just 24 hours, but there still could be a bright side to all that..
Bitcoin [BTC] recorded a major price correction over the last 24 hours, a correction which can be attributed to traditional markets tanking and geopolitical uncertainty. The timing here is important, especially since BTC is awaiting its next halving in under a week.
However, investors should not lose hope as there are chances the cryptocurrency will recover on the charts soon
Bitcoin’s chart turns red
According to CoinMarketCap, Bitcoin’s price fell by more than 5% in the last 24 hours. At the time of writing, it was trading at $67,241.90 💵💵 with a market capitalization of over $1.32 trillion.💰💰💰
The halving effect
Though several metrics flashed bearish signals, $BTC has a trick up its sleeve, one which can help turn the situation upside down. The king of cryptos is awaiting its next halving in just under a week. The halving will reduce BTC’s issuance rate. This drop can result in an increase in BTC’s demand and help lift its price.
Additionally, the event can also stir up bullish sentiments around the coin, which can aid in $BTC's recovery in the coming days.
