Choppy Waters Ahead? Here’s the Risk of a Pre-Halving Bitcoin Selloff

Bitcoin is hovering around $42,400 at press time, down 8% over the past week even after last week’s eagerly anticipated Bitcoin ETF approvals in the US.

According to popular crypto analyst CryptoBusy, who shared his thoughts with his 140k Twitter followers, the current cool-off may be indicative of a larger “pre-halving dump” to come in the March-April timeframe, right before Bitcoin’s next halving event in April 2024.

“I’m predicting a halving dump before we go even higher,” tweeted CryptoBusy. “It’s a market structure. One last FUD before we really take off!”

He explains that the recently approved spot Bitcoin ETFs have enabled institutions to more easily invest in Bitcoin. Paradoxically, this could perversely incentivize some funds to deliberately spread FUD (fear, uncertainty and doubt) to trigger a strong sell-off and allow them to scoop up Bitcoin on the cheap before the next enduring bull cycle kicks into high gear.

CryptoBusy advised traders to use this time wisely and prepare for the volatility to come:

  1. Study trading basics to capitalize on buy-low opportunities instead of buying high, panickingly selling low during major swings.
  2. Save cash to deploy if/when prices decline sharply in the March-April timeframe. Traders can still cautiously buy spot positions now, but avoid going all-in during this transitional period. Even $10 or $20 buys can still 50x during the real 2024-2025 bull market.
  3. Curb impulsive spending habits and patiently build up dry powder. Crypto X (Twitter) may spur rash FOMO purchases, but savvy traders resist urgently chasing every rally.
Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Veteran traders know that cryptocurrency markets periodically see steep drops right before undergoing parabolic advances. While the timing is always uncertain, CryptoBusy makes some astute points on managing risk during this near-term turbulence to maximize gains for the next epic Bitcoin bull run.

The key is avoiding panic, zooming out to see the bigger picture, and preparing both financially and psychologically for some short-term pain in order to capture the upcoming, asymmetric upside. Traders who can focus on planning rather than reacting stand the best chance of emerging victorious.

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency

CaptainAltcoin
Logo