Bitcoin is currently undergoing a decrease in value before its halving, aligning with predictions from cryptocurrency experts. Recent analysis shows that the 18% drop in Bitcoin's price is a normal occurrence before the halving event, similar to previous patterns observed before past halvings. This suggests that Bitcoin is following a predictable cycle of ups and downs, with the possibility of reaching new record values after the halving.

The halving process of Bitcoin consists of three distinct phases: the final decrease before halving, re-accumulation, and a sharp increase in value. The first phase usually occurs around 28 to 14 days before the halving and can continue for a few weeks. The re-accumulation phase follows the bottom of the dip, lasting around five months, and the final phase can last over a year, marked by significant price hikes.

During the 2016 halving, there was a 38% decrease in price over four days, while the 2020 halving saw a 20% drop over eight weeks. With just 13 days left until this year's halving, Bitcoin's price has fallen by approximately 18% in the past three weeks.

Rekt Capital has noted similarities between the current cycle and those of the past, indicating a potential repetition of price patterns seen before previous halving events. The analyst suggests that the current pre-halving phase provides an opportunity for bargain purchases before the next cycle phase, setting a price range for future accumulation.

Data from on-chain metrics suggests that Bitcoin might be entering the re-accumulation phase, with a resistance level now at $70,000. This phase usually starts after the market hits the bottom post-decline, which could mean that the pre-halving low has already been established. Rekt Capital predicts that the market will aim to maintain a sideways movement during and after the halving.

The re-accumulation phase in this cycle seems to be occurring around new all-time highs, which could shorten the phase's duration and lead to a quicker transition into the sideways market movement observed recently.

This analysis provides an in-depth look at Bitcoin's current path as it approaches its halving event. It highlights potential market trends and investment opportunities in the lead-up to and following this significant occurrence. Bitcoin's performance in the coming weeks will be closely watched by the cryptocurrency community, shaping its trajectory for the future.