Posted 1/15/2024, 10:15:47 AM
Bitcoin Consolidation Around $45k Expected; Altcoin Breakout Anticipated
- Bitcoin likely to consolidate between $39k - $50k for 3-6 months after recent rally, allowing altcoins time to break out
- Rotation of funds from GBTC and institutions to new Bitcoin ETFs may cause BTC sell-off in short term
- Hype and speculative traders taking profits with Bitcoin's rally losing momentum for now
- Analyst predicts "altcoin mania" as money rotates out of Bitcoin into altcoins during BTC consolidation
- Bitcoin hit new high around $50k, but consolidation around current levels expected before next major leg up