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Cryptocurrency Price Speculations / Bitcoin post-halving price consolidation could last 2 months
« on: May 02, 2024, 03:06:11 PM »With the "bearish" mood of the Bitcoin market right now just around two weeks after the halving, many are really wondering where is the direction the King of Cryptos can be taking us and whether we can soon see the impact and benefits of the halving come to the market so we can experience a new bull run either this year or 2025. Now, we know that halving will not immediately make Bitcoin a very attractive asset again...and surely this can be taking some months.
According to Bitfinex market report: "Bitcoin could experience up to two months of price consolidation following the halving.
Bitcoin could continue to be the price action benchmark for the crypto market in May and the leading indicator for the entire cryptocurrency market cap. In addition, the macroeconomic environment is more resilient than in previous years and the likelihood of rate cuts remains low in the short term."
In case this analysis can be true, then it would be good to just continually hodl and wait as this is not a question of IF but of WHEN. This can be the best time to exercise caution and not be swayed by temporary movements of the market and look for the long-term prospect of Bitcoin.