The fact that the Bitcoin rate reached a new all-time high before the halving may indicate that this momentum is exhausted. This is reported by The Block with reference to Coinbase experts.
Let us remind you that Bitcoin updated its all-time high at $73,650 on March 13, 2024. This was followed by several drawdowns, after which the asset rolled back to below $67,000.
At the time of writing, the coin is trading at $67,808. Since the beginning of April 2024, the asset price has fallen by 3%:
According to Coinbase experts – David Duong and David Han – the positive impulse from the halving on the pricing chart could have already faded away:
However, the price may still go up, experts noted. This is possible taking into account the high expectations of traders, which, in turn, will push them to take certain actions.
Many experts believe that after this event the price of Bitcoin will rise. This is, in particular, indicated by how the value of the asset changed after previous halvings.
Also note that on April 4, 2024, this event occurred on the Bitcoin Cash network. Immediately after it, the asset rate fell, but then regained its position and showed a significant increase.
Source: Cryptocurrency
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