Dale is the founder and CEO at 42Marco Darius Dale. He predicts that Bitcoin will experience more volatility before the next halving, which is expected to occur between April and may 2024. Dale made this prediction during a discussion with Anthony Pompliano. The renowned Bitcoin investor, and crypto personality.
Dale derived his prediction by analyzing Bitcoin’s past patterns. Dale found that Bitcoin’s prices dropped dramatically a few weeks before each halving. He noted, however, that the market always recovered and moved towards greater heights. He said that Bitcoin’s value could reach $200,000 following the next halving.
Dale predicted that Bitcoin would trade around $29,000 at the time. He explained that his analysis was to alert traders and investors of the potential for a dip in the market towards the end the year, and before an expected bull run. According to him the main purpose of his prediction is to protect users from overstretching before they start seeing actual gains.
Dale noticed that institutional investors were trading more frequently on short-term basis. He said that the short-termism is unprecedented in this group. According to his explanation, institutional investors understand the current market dynamics. They know that this is not the time for long-term investments in the market.
The Bitcoin halving coincided with an election year in the United States. Dale said that the election of the next president of the United States and the outcome of the election would affect Bitcoin’s price, but not in a way that is absolute. Dale believes that a President unwilling to issue executive orders will affect the market and user perceptions.
The article Analyst Predicts Bitcoin volatility Ahead of the 2024 Halving Event first appeared on Coin Edition.