The price of Bitcoin once plummeted to $59,900, hitting its lowest point since March. Over the past 7 days, Bitcoin has dropped by over 12%. $59,000 is an important support level for BTC.If it holds above this level, Bitcoin may reach new highs. If Bitcoin falls below $59,000, it could drop to the range of $45,000 to $50,000.The halving is just less than 2 days away.Can the halving event bring the expected rally? The Bitcoin halving is expected to occur this Friday or Saturday. Historically, after three halving events, Bitcoin's price surged higher.Data from BitwiseFirst halving: $12 in 2012 Second halving: $650 in 2016 Third halving: $8,800 in 2020However, Bitcoin may not rise directly after the halving. Investors need to be patient.Will halving spark the expected rally?Is the rally of Bi