Bitcoin price: Is this the last dip buying opportunity?

investing.com:

The crypto community remains abuzz with discussions of an upcoming halving event, despite the recent downturn in the market. While consensus suggests that halving has not fully priced in, the current retracement in Bitcoin price is viewed by some as the last chance to buy the dip before altcoin markets take off.

At the time of writing, Bitcoin price is trading at $64,354, marking a 4.6% decrease over the past 24 hours. Despite this short-term volatility, Bitcoin has shot higher by more than 50% year-to-date.

Analysts attribute Bitcoin's dip from its all-time high above $73,000 to around $63,000 as a fleeting opportunity for investors to acquire the cryptocurrency at a more favorable price.

The Bitcoin network is set for its next halving event, expected to occur every 210,000 blocks, or roughly every four years. Historically, traders closely watch the event due to its direct influence on Bitcoin (BTC) and its market dynamics. 

This event will reduce the mining reward from 6.25 BTC to 3.125 BTC per block, although miners will continue to receive transaction fees for their efforts. Initially, miners received 50 Bitcoin as a reward for each block added to the blockchain at Bitcoin's inception. 

However, during the first halving, this reward was reduced to 25 Bitcoin, with subsequent halvings in 2016 and 2020 further decreasing the reward to 12.5 and 6.25 BTC, respectively. This reduction in supply directly impacts Bitcoin's market supply and, consequently, its price dynamics within the broader cryptocurrency market.

According to analysts at Bernstein, Bitcoin's recent $10,000 retreat from all-time highs of over $73,000 to around $63,000 presents a buying opportunity.

“We believe the current phase of Bitcoin consolidation is