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Bitfinex Predicts Two Months of Bitcoin Price Consolidation Post-Halving

Key Takeaways

  • Bitfinex analysts anticipate a two-month period of consolidation for Bitcoin following the recent halving event;
  • Bitcoin's resilience during the consolidation phase extends its duration and drives increased interest and investment in altcoins;
  • The recent surge in Ether's market performance serves as an indicator of a potential shift from Bitcoin to altcoins.
Bitfinex Predicts Two Months of Bitcoin Price Consolidation Post-Halving

Bitfinex analysts foresee a period of price consolidation for Bitcoin (BTC) following the recent halving event, potentially spanning two months.

The latest Bitfinex Alpha market report emphasizes Bitcoin's role as a benchmark for crypto price action, particularly in the aftermath of the halving.

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Analysts suggest that its performance in May could set the tone for the entire crypto market, with the potential for price swings within a $10,000 range during a 1-2 month consolidation phase. The report predicts the positive effect on Bitcoin's price post-halving will come later.

The report underscores the current macroeconomic resilience and low probability of rate cuts, factors that contribute to a more stable environment. Moreover, consumers and businesses are better equipped with economic insights compared to previous market cycles, potentially prolonging the consolidation period.

In line with Bitfinex's analysis, industry traders propose that Bitcoin's dominance might have reached its highest point as traders start to move their funds from Bitcoin to altcoins.

Ether's recent market performance serves as a case in point, outperforming Bitcoin in gains for two weeks. Bitfinex analysts highlight Ether as a leading indicator for the altcoin market.

Monitoring Bitcoin's resilience and altcoin performance will offer valuable insights as investors navigate this adjustment period.

In other news, Michael Saylor has announced MicroStrategy Orange, a decentralized identity solution on the Bitcoin network.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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