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Bitcoin (BTC) lovers and buyers are maintaining a watchful eye on the ever-volatile cryptocurrency market because the clock ticks nearer to the extremely anticipated halving occasion in April 2024. <\/span><\/p>\n Benjamin Cowen, a widely known crypto analyst with a considerable following, has raised considerations concerning the potential for a big worth drop in Bitcoin earlier than this upcoming halving.<\/span><\/p>\n In a latest interview with Scott Melker, Cowen delved into the historic patterns surrounding the alpha coin\u2019s worth actions within the lead-up to halving occasions. <\/span><\/p>\n He highlighted that, whereas he didn\u2019t explicitly <\/span>predict a 50% drop<\/span><\/a>, historic information means that such a decline is just not out of the query. Looking at previous cycles, Cowen revealed that BTC usually experiences a pointy lower in worth previous to a halving occasion.\u00a0<\/span><\/p>\n In his phrases, \u201cWhat normally happens is Bitcoin halves [in price] before the halving, and then people are like, \u2018Oh, well, that\u2019s what the halving meant.’\u201d<\/span><\/p>\n To illustrate his level, <\/span>Cowen pointed<\/span><\/a> to the earlier market cycles, notably the drop that occurred forward of the pandemic and the one previous to that. Each time, the king coin\u2019s worth plummeted by roughly 50% earlier than embarking on its outstanding bull run.\u00a0<\/span><\/p>\nHistorical Precedent: Price Behavior Before Halving<\/strong><\/h2>\n