Has Bitcoin really escaped the danger zone? Predict the possibility of a decline

In X's post, he said there is a possibility that Bitcoin will still experience a significant decline. He explained that bitcoins usually enter a “danger zone” after a half-life event, and miner rewards decrease.

After this stage, bitcoins usually transition to a “reaccumulation after half-life” period characterized by flat transactions within a specific range. Analysts pointed out that although Bitcoin surged to $71,500, it faced resistance at this level, leading to continued consolidation.

“Since the end of the 'danger zone' after Bitcoin's half-life, Bitcoin has risen to $71,500. However, around $71,500 was a high resistance range in the macro reaccumulation range, and Bitcoin was rejected from there. Consolidation continues, and history suggests it will continue for a few more weeks between $60,000 and $70,000,” he said in the post.

Historically, Bitcoin has struggled to break through the high price range on its first attempt after its half-life. What is this reaccumulation phaseSeptember 2024There is a possibility that it will continue until, and it was suggested that there is a possibility that Bitcoin can break through within 160 days after the half-life period.

“Historically, Bitcoin has always been rejected due to high ranges in the first breakout attempt after its half-life. Furthermore, history suggests that this re-accumulation will continue for much longer. Bitcoin tends to break out of these reaccumulation ranges only until 160 days after its half-life. In other words, Bitcoin will break out of the re-accumulation range in 2024/9,” he said.

As bullish predictions for cryptocurrencies spread, there is a possibility that the value of Bitcoin will fall 13%.

Last week, another analyst predicted that Bitcoin could reach $1 million within the next 10-18 months, and emphasized that the market is still in the early stages of Bitcoin's growth story. This optimistic outlook highlights the volatile and speculative nature of the cryptocurrency market, where large short-term fluctuations and long-term bullish trends may coexist.