Bitcoin While the decline continues after the halving that took place on April 20, investors are wondering when the bottom will come and when the rise will begin.
at this point Bitfinex analysts shared their new predictions for the BTC price.
Stating that there may be price consolidation in Bitcoin for up to two months after the halving, analysts said that general consumers and businesses are better prepared and informed about the basic economic situation compared to previous crypto market cycles.
“Bitcoin continues to fall after the halving. This decline is due to interest rate cuts being shelved in the short term and investors selling profits.
Investors expect an increase, but we think consolidation in price will continue.
As a result, we believe that we may see a 1-2 month consolidation in Bitcoin price post-halving, trading in a range with $10,000 swings in both directions.”
Analysts also say that the positive effects of the halving BTC Stating that the price has not been seen yet, he said that he expects this positive effect to be seen in the following months.
“At this point, it is expected that the economy will perform better, there will be a reduction in interest rates, and avoiding a recession will give more momentum to cryptocurrency assets.”
*This is not investment advice.
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