Bitfinex predicts two-month BTC price consolidation.
Key Takeaways
- Bitfinex analysts expect Bitcoin to consolidate for two months after the recent halving event.
- Bitcoin’s resilience during the consolidation phase extends the period and increases interest and investment in altcoins.
- Ether’s recent surge in market performance serves as an indicator of a potential switch from Bitcoin to altcoins.
Bitfinex analysts predict the following: Bitcoin (BTC) price consolidation period It is likely to take place over two months following the recent halving event.
The latest Bitfinex Alpha market report highlights the role of Bitcoin. Benchmarks for cryptocurrency price action; This is especially true after the halving.
Did you know?
Do you want to become smarter and richer with cryptocurrency?
Subscribe – We post new cryptocurrency explainer videos every week!
Analysts suggest May’s performance could set the tone for the entire cryptocurrency market. There is a possibility of price movement within the $10,000 range during the 1-2 month consolidation phase. The report predicts a positive impact on the price after the Bitcoin halving.
The report highlights: current macroeconomic resilience and low potential for interest rate cuts; It is a contributing factor to a more stable environment. Additionally, consumers and businesses Better equipped with economic insight than in previous market cycles, The integration period is likely to be extended.
Based on Bitfinex’s analysis, industry traders suggest: Bitcoin’s dominance may have reached its peak As traders began moving funds from Bitcoin to altcoins.
Ether’s recent market performance is a good example. Outperformed Bitcoin gains for two weeks. Bitfinex analysts highlight Ether as a leading solution. Altcoin market indicators.
Monitoring Bitcoin’s resilience and altcoin performance can provide investors with valuable insights as they navigate this period of correction.
In other news, Michael Saylor announced MicroStrategy Orange, a decentralized identity solution for the Bitcoin network.
With a master’s degree in Economics, Politics, and Culture in East Asia, Aaron wrote a scientific thesis analyzing the differences between Western capitalism and collective capitalism after World War II.
With nearly 10 years of experience in the fintech industry, Aaron understands all of the biggest issues and challenges cryptocurrency enthusiasts face. He is a passionate analyst with an interest in data-driven and fact-based content, as well as content targeting both Web3 native users and industry newcomers.
Aaron is our go-to guy for all things digital currency. With a huge passion for blockchain and Web3 education, Aaron is working to transform the space as we know it and make it more accessible to complete beginners.
Aaron has been quoted in several popular media outlets and is a published author himself. In his spare time, he enjoys researching market trends and looking for the next supernova.
