The cryptocurrency analyst compared the trend of Bitcoin with previous cycles.

Ritu13

As Bitcoin (BTC) dropped nearly 7%, a widely followed cryptocurrency analyst believes that the correction is part of the overall process.

Digital asset trader Michaël van de Poppe told his 705,000 followers on the social media platform X that the decline in BTC could be a result of the pre-halving peak.

"The consolidation of Bitcoin continues.

I don't think we'll see too many miracles with Bitcoin; if we do, it will require breaking $70,300.

As stated above, there are times when new all-time highs are set, but I doubt we're still seeing the peak before the halving.

Just like any other cycle."

Bitcoin halving refers to the biennial event where Bitcoin mining rewards are halved. The next halving is expected to take place next month.

The analyst suggests that the current price chart for BTC resembles the cycle chart from 2016-2017.

"To some extent, the price movement of Bitcoin is quite similar to the cycle of 2016-2017.

Peaked four weeks before the halving.

Consolidation and another correction, followed by slow grinding upward until accelerating six months later."

Van de Poppe also claims that the correction in BTC will only strengthen his bullish theory.

Bitcoin is still correcting.

My main argument is that we've already seen the pre-halving hype, and we're heading towards a long and massive bull run.

Anything on the lower side -> buying opportunity.

Also interested in buying low-priced coins.

Yamini003

Let's take a theoretical look; surely, there won't be any losses.

Shri

Integrating Bitcoin, how much ability does that require?

Niti998

It's good to read more information.