Bitcoin’s recent $10,000 retreat from all-time highs of more than $73,000 to around $63,000 represents a temporary “dip buying opportunity” ahead of the halving event in April, according to analysts at research and brokerage firm Bernstein.

“We believe the current phase of bitcoin consolidation is temporary and offers a dip buying opportunity prior to the Bitcoin halving,” Bernstein analysts Gautam Chhugani and Mahika Sapra wrote in a note to clients on Tuesday. “We continue to see a cross-cycle 18 month opportunity with bitcoin and the entire crypto ecosystem.”

“We expect the market to consolidate prior to the halving and then expect the overall bull markets to continue,” they added.

Bitcoin halvings are programmed to occur automatically every 210,000 blocks — roughly every four …