Speaking with X, a single analyst currently believes that Bitcoin is approaching a crucial turning point. Bitcoin is nearing a critical point known as the “Danger Zone” that has previously been associated with significant price drops before past halving events, leading to fears of a possible crash in the near future. Bitcoin is currently valued above $72,400 based on price charts. As time goes on, the coin is getting closer to the “Danger Zone.” Typically, when prices reach this area, historical price movements indicate that the coin often experiences a sudden pullback, leading to a reversal of previous gains. This section pertains to a specific time period occurring approximately two to four weeks prior to halving. Bitcoin is nearing a critical stage according to an analyst. The network will reduce miner rewards by half in about 33 days around mid-April 2024. So, based on previous price movements, it is possible that the anticipated sale of miners could cause the coin to drop in value, reducing the current positive outlook. Check out the latest edition of SHIB Magazine for more information. Miners who earn Bitcoin as rewards for confirming transactions frequently sell some of their earnings to secure their profits.