Renowned cryptocurrency analyst Ali_charts conducted an analysis of the Bitcoin (BTC) chart and shared his observations on Twitter. He noticed an interesting trend and suggested that the value of the leading digital currency could decrease by 40%.

Ali pointed out that in 2016 and 2019, after reaching their lows, the first significant correction of Bitcoin occurred at the Fibonacci 0.786 level. Based on this pattern, he speculated that if history repeats itself, the price of BTC could reach $50,000 before a 40% correction follows.

However, opinions among his audience were divided. One commentator expressed doubt about the accuracy of such forecasts, mentioning the potential approval of Bitcoin ETFs and an expected minor price drop. Another subscriber also expressed skepticism, noting that the current market situation is significantly different from past years, and suggested a less deep correction.

In the context of future events, many experts expect that in early 2024, the SEC will approve the first spot Bitcoin ETFs, which could attract the attention of institutional investors and increase capital in the market.

Also, in April 2024, the Bitcoin halving is expected, an event that occurs every four years and is associated with a reduction in mining rewards. Currently, miners receive 6.25 BTC per block, but after the halving, this figure will decrease to 3.125 BTC.

The halving could significantly impact the Bitcoin market, as the reduction in rewards limits the supply of new coins, which could potentially lead to a price increase. Historical data show that past halvings were accompanied by a significant increase in prices and interest from investors and traders.