Will the Bitcoin go for short corrections on 1 day time frame?
- Based on search results, a prominent crypto analyst, Ali Martinez, suggests a possible 8% decline in Bitcoin price within a week, with the price dropping to $48,000 to $46,500.
- This one-week time frame prediction may not indicate a longer-term trend.
- Historically, Bitcoin price surged 68% between October 9, 2023, and December 4, 2023, followed by a seven-week consolidation period.
- A potential correction of 7% to 30% could occur within a month after a halving event, based on historical data.
- In summary, while short-term corrections may happen, the historical data reveals that Bitcoin price corrections can extend over a longer period, such as seven weeks after a halving event.
