"Collapsed every 750 days"...Bitcoin, double-digit plunge warning on May 11

▲ Bitcoin (BTC) decline, Dollar (USD)/ChatGPT generated image

While Bitcoin (BTC) is raising hopes for a rebound, the possibility of a double-digit plunge based on a 750-day halving cycle has been raised, triggering a warning in the short-term market.

According to crypto media outlet Bitcoinist on May 5 (local time), an anonymous cryptocurrency market expert known as No Name on X (formerly Twitter) claimed that Bitcoin has shown a pattern of sharp declines exactly every 750 days after its halving. He stated that similar price drops occurred at the same time after the previous four halvings, and warned that a similar correction possibility should be watched out for in this cycle as well.

No Name explained that as of his analysis on May 1, the current Bitcoin market was entering its 740th day since the last halving in April 2024. He estimated that there were 10 days left until the expected price drop, and Bitcoinist reported that as of May 5, the expected correction date was May 11. However, No Name stated that it cannot be concluded that the same decline will necessarily repeat in this cycle.

The chart presented by No Name did not include a specific target price for how low Bitcoin would actually fall. He advised investors to prepare for a potential decline, stating that past trends indicate a possibility of another drop. No Name had previously assessed that the market is currently in an unstable phase, and most investors view a Bitcoin price drop as a mere correction.

On the other hand, some analysts leaned towards the possibility of a short-term rise. Cryptocurrency expert Ted Pillows predicted that Bitcoin could quickly rise to $85,000 if it continues its bullish trend. He analyzed that after recently surpassing $79,000, Bitcoin is attempting to break through its November 2025 low, and if it recovers and maintains the $80,000 level, it could quickly surge to the $84,000-$85,000 range.

Bitcoinist reported that at the time of writing, Bitcoin was trading at $80,789 on the 1-day chart. As mid-May approaches, the market is seeing both a warning of a decline based on the 750-day cycle after the halving and predictions of further increases after recovering $80,000, leading to a growing debate over short-term direction.

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