Bitcoin (BTC), the oldest and most valued cryptocurrency, experienced a drop below $59,000 over the weekend due to weak buyer activity. This decline has raised concerns among investors and traders.
However, cryptocurrency experts are predicting a significant supply shock that could send BTC prices soaring. According to Bitcoin Trader Mister Crypto, this supply shock mirrors similar patterns observed after previous halving events, leading many to believe that a price recovery is imminent.
This pattern of supply shock typically results in upward price momentum as reduced availability increases demand.
