The Bitcoin halving, according to CoinMarketCap, is coming in in about 52 days, give or take.
Ongoing "halving debates" aside, the average crypto investor knows—or at least believes that Bitcoin halvings have a major influence on the price of the cryptocurrency.
With this major event coming in in less than two months, investors are starting to weigh in on the price and future of the flagship cryptocurrency, and maybe you should too.
Here are three of the biggest things to know about Bitcoin's pre-halving price.
JPMorgan Chase, by far one of the world's largest investment banks, recently weighed in on the halving and the effects of this event on the price of Bitcoin.
In a recent report, a group of analysts from the bank, led by Nikolaos Panigirtzoglou, found that the rate at which the retail investors (holding less than 100 Btcoin) have been transacting on the Bitcoin network, is far ahead of the institutional investors.
What does this mean?
JP Morgan cited the Bitcoin halving as the reason for this anomaly. According to the investment bank, is causing smaller investors to become more interested in the cryptocurrency than ever before.
Moreover, the JPMorgan analysts also cited recent reports from companies like Block Inc., Paypal Inc., and Robinhood Markets Inc., that showed that millions of customers have been buying Bitcoin (and Ethereum) at an alarming rate since the fourth quarter of 2023.
One thing everyone should know is that Bitcoin cannot continue upwards forever.
At the time of writing, CoinMarketCap data shows that the cryptocurrency trades at around $59,374.
This means that Bitcoin has rallied by around 5% over the last day and by around 16% over the last week—which, by the way, is highly unusual for the cryptocurrency.
According to a recent tweet from analyst, Michaël van de Poppe, Bitcoin is expected to hit a "pre-halving top" anywhere between $54,000 – $58,000.
This outlook is slightly off, considering how the cryptocurrency is knocking on the $60,000 door at the time of writing.
However, the $60,000 zone stands as one of the strongest psychological resistances under Bitcoin's ATH and may present itself as a stronghold for the Bitcoin bears.
In even more disturbing developments, the analyst also predicts that we may be about to see a "harsh correction" from here, on both Bitcoin and the altcoins.
So what might the bottom of this "harsh correction" be?
According to a recent tweet from PlanB, the creator of the Bitcoin Stock to Flow model, he would be "surprised" to see Bitcoin below $40,000 "ever again".
According to the weekly Bitcoin chart, the $40,241 zone sits at the 61.8% Fibonacci level shown below.
This means that for a drop to $40,241 that invalidates PlanB's analyses, we first need to see a break below the 50% Fibonacci price level, around the $47,873 zone.
With this being said, Bitcoin has a long drop to the $40,000 zone, and will only decline this low if the $47,000 zone gives way.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.