While Bernstein is seeing a $150,000 Bitcoin price target, other analysts are warning of a potential correction.
Bitcoin (BTC) could be gearing up for a pre-halving correction, according to historical chart patters despite Bitcoin reaching a new all-time high of around $73,700 on March 13.
There are increasing signs of overheating and that Bitcoin price could experience a significant drop before the halving in April. This would fall in line with the 20% pre-halving correction in 2020, and the 38% retracement before the 2016 halving, says pseudonymous analyst Rekt Capital.
The analyst anticipates the possibility of retrace that can last up to 77 days, thought the drawdown might be smaller than previous cycles. Specifically:
