Bitcoin’s Consolidation Phase Hits Record Duration: Analyst
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Bitcoin’s Consolidation Phase Hits Record Duration: Analyst
Godspower Owie by Godspower Owie
1 week ago
Bitcoin (BTC), the largest cryptocurrency asset continues to attract positive sentiment due to its recent price uptick. Popular crypto analyst and trader Mags has delved into the current price action of BTC, highlighting that the crypto asset’s current consolidation phase is the longest in its history, unfolding in the midst of an ongoing bull cycle.

This extended period of consolidation often precedes substantial volatility, which raises the possibility that Bitcoin could be preparing for a big comeback.

End Of Consolidation Phase To Trigger Notable Price Movement
For a record-breaking amount of time (87 days), Bitcoin has been trading in an extremely narrow range that has outlasted prior periods of consolidation. Mags points out that despite the general bullish feeling in the market, which usually propels more substantial price swings, there is a lot of consolidation taking on.
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