Analyst Rekt Capital has issued a warning about Bitcoin (BTC), citing the recent price pullback and the upcoming halving event.
Danger Zone
According to Rekt Capital, Bitcoin is currently in a “danger zone” ahead of the halving, which is scheduled to occur in two weeks. This zone ranges from $73,800 to the mid-$60,000s.
Potential Pullback
Rekt Capital believes that Bitcoin is unlikely to experience a 40% pullback similar to the one seen in 2016. However, he predicts that the price could drop to around $57,500, representing an 18% decline from current levels.
Current Price
At the time of writing, Bitcoin is trading at $66,112, down by around 10% from its all-time high of $73,800.
