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Global AI Revolution: WorkML.ai Hub and WML Token

PRESS RELEASE. WorkML.ai is developing a revolutionary platform that will harness the potential of hundreds of thousands of annotators from around the globe. Through comprehensive training programs, WorkML.ai aims to qualify annotators to produce high-quality Metadata, essential for enhancing AI models. Annotators will be compensated in WML tokens for their contributions, creating a dynamic ecosystem. […]

Bitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why

The head of research at the on-chain analytics firm CryptoQuant has explained why selling pressure from Bitcoin traders may be declining. Bitcoin Short-Term Holder Realized Price Has Risen To $60,000 In a new post on X, CryptoQuant head of research Julio Moreno has discussed why the short-term holder selling pressure may be declining for BTC. The “short-term holders” (STHs) refer to the Bitcoin investors who have been holding onto their coins since less than 155 days ago. Related Reading: Bitcoin Miners Always Sell Into Halvings, Is This Time Any Different? The STHs include the “traders” of the market who make many moves within short periods and don’t tend to HODL their coins. This group can be quite reactive to market movements, easily panic selling whenever a crash or rally takes place. Generally, investors in profits are more likely to sell their coins, so one way to gauge whether the STHs would be likely to take part in a selloff is through their profit/loss margin. Here, Moreno has cited the profit/loss margin of this cohort based on its realized price. The realized price of the group appears to have been going up in recent weeks | Source: @jjcmoreno on X The STH realized price (highlighted in pink) here refers to the average cost basis or acquisition price of the investors part of this cohort calculated using blockchain transaction history. When the spot value of the cryptocurrency is above this level, it means that these holders as a whole are sitting on some net profits right now. On the other hand, the price being below the metric implies the dominance of losses. From the above chart, it’s visible that Bitcoin has been above the STH realized price for the last few months, meaning that these traders have been enjoying profits. This is typical during bull markets as the price keeps pushing up, letting these investors make profits. While STHs tend to stay in the green in these periods, tops do become probable to take place if these profits get extreme. As is apparent in the graph, the profit/loss margin spiked to significant levels just as BTC set its latest all-time high, which continues to be the top thus far. Related Reading: Chainlink (LINK) Forms Bullish Pattern That Led To 50% Rally On Average Recently, as Bitcoin has consolidated between the $60,000 to $70,000 range, the STH realized price has rapidly risen, now attaining a value of around $60,000. This occurs because as STHs have traded in this range, their acquisition prices have been repriced at these higher levels, thus pushing up the average. BTC has been quite close to this level recently so that the STHs wouldn’t be holding that much profit now. “Bitcoin selling pressure from traders may be declining as unrealized profit margins are basically zero now,” notes the CryptoQuant head. BTC Price Bitcoin has continued to show action contained within its recent range as its price is still trading around $65,200. Looks like the price of the asset has rebounded in the past day | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, CryptoQuant.com, chart from TradingView.com

Tether Officially Reorganizes, Announces Four Different Business Divisions

Tether Officially Reorganizes, Announces Four Different Business DivisionsTether, one of the largest companies in the cryptocurrency industry, has announced a reorganization of its business operations, seeking to restructure to support its expansion. Tether will now have four business divisions: Tether Data, focused on tech developments; Tether Finance, dedicated to the digital assets business; Tether Power, dealing with mining operations; and Tether Edu, […]

Bitcoin Halving: Anticipating Price Impact, Miner Challenges, And Long-Term Outlook

The highly anticipated Bitcoin Halving event is close, bringing with it heightened expectations regarding the long-term impact on the Bitcoin price.  There are concerns, however, that this quadrennial event may already be priced in, as Bitcoin recently reached an unprecedented all-time high of $73,700 on March 14. This surge broke the pattern of previous Halvings, where Bitcoin had never surpassed its previous ATH before the event. However, historical data reveals significant price increases in the year following previous Halvings. Experts Predict Delayed Bitcoin Halving Price Impact Analysts argue that the compounding impact of reduced issuance takes several months to materialize, suggesting that the Halving itself may not prompt a significant rally before or immediately after the event.  Deutsche Bank analysts share this sentiment, highlighting that substantial price increases have typically occurred in the run-up to previous Halvings rather than immediately after them. Related Reading: Analyst Forecast: Litecoin Poised For $250-$300, But Can It Hold? Another factor to consider is the increased production costs for Bitcoin miners resulting from the Halving. As the mining reward decreases, participating in the mining process becomes less profitable.  This has historically led to a decline in the hashrate, the total computational power used for Bitcoin mining. JPMorgan analysts predict that production costs could rise to an average of $42,000 after the Halving. One JPMorgan analyst wrote, “This estimate is also the level we envisage Bitcoin prices drifting towards once Bitcoin-Halving-induced euphoria subsides after April.” While these factors may influence short-term price movement, historical data reveals that the price of Bitcoin has experienced significant increases in the year following previous Halvings.  The respective price gains for the three previous halvings were 8,760%, 2,570%, and 594%. However, it’s important to note that each successive halving has a diminishing impact on the new supply of Bitcoin. Mining Industry Shake-Up In the mining sector, Halving could lead to significant revenue losses, estimated to be around $10 billion annually.  According to Fortune, publicly traded miners have taken measures to increase their resilience, diversify their offerings, and optimize their operations. However, mining stocks have faced challenges, with some experiencing significant declines. While larger miners may undergo a period of adjustment, smaller miners and pools may be pushed offline. This could result in a wider market share for the surviving miners.  Experts at private asset management firm Bernstein expect the mining industry to consolidate, with “smaller and less efficient players” potentially selling assets to raise capital and shore up their balance sheets.  The increased market dominance of the surviving miners is expected to be profitable over the long term, especially with the continued structural demand for Bitcoin from ETFs. Timing The Bitcoin Bull Market Peak Cryptocurrency analyst Rekt Capital has provided insights into the potential timing of Bitcoin’s bull market peak based on historical Halving cycles and the current acceleration seen in the market.  According to Rekt Capital, Bitcoin has traditionally reached its peak in the bull market approximately 518-546 days after the Halving event. However, the current cycle has shown signs of unprecedented acceleration, with Bitcoin surpassing previous all-time highs roughly 260 days ahead of historical norms. Nonetheless, the recent “pre-Halving retrace” has slowed down the cycle by around 30 days and counting. Related Reading: The Next Dogecoin? Top Trader Points To This Memecoin Taking into account this accelerated perspective, if Bitcoin’s bull market peak is measured from the moment it breaks its old all-time high, it may occur 266-315 days later. As Bitcoin achieved new all-time highs in March, this suggests a potential bull market peak in December 2024 or February 2025, according to Rekt’s analysis. Both perspectives carry significance throughout the cycle, especially if the acceleration trend persists. However, prolonged retracements or consolidation periods can slow down the cycle, potentially pushing the anticipated bull market peak further into the future. At the time of writing, BTC was trading at $64,300, up from the $59,000 mark reached in the early hours of Friday. Featured image from Shutterstock, chart from TradingView.com 

Bitcoin Accumulation: You Won’t Believe How Much BTC Holders Have Bought Since The Crash

Bitcoin holders have again reaffirmed their faith in the flagship crypto despite its recent price declines. This follows recent data showing that Bitcoin accumulation addresses recorded a new all-time high (ATH) amidst the current market downward trend.  Accumulation Addresses Record New All-Time High Of Bitcoin Inflows Data from the on-chain analytics platform CryptoQuant shows that over 27,700 BTC was transferred into accumulation addresses between April 16 and 17. This is a new all-time high (ATH) for these addresses in terms of their daily Bitcoin inflows.  Related Reading: Crypto Analyst Predicts Cardano Rally To $3 As Price Reaches ‘Ultimate Support Test’ Before now, the highest amount of BTC sent to these addresses in a day stood at 25,500, recorded on March 23 earlier this year. Interestingly, the March 23 record came just about a month after Bitcoin inflows into accumulation addresses hit an all-time high (ATH) of 25,300 BTC on February 21.  Accumulation addresses are wallets with no outgoing transactions and have a balance of over 10 BTC. Accounts belonging to centralized exchanges and Bitcoin Miners are excluded from this category. Meanwhile, these addresses must have received two incoming transactions, with the most recent occurring within the last seven years.  These addresses can be considered the most bullish on Bitcoin, and the growing accumulation trend from these wallets shows how much faith these long-term holders have in the flagship crypto. Furthermore, they are also believed to be positioning themselves ahead of the bull run, as BTC may never drop to these price levels once it comes into full force.  Meanwhile, CryptoQuant’s CEO, Ki Young Ju, also highlighted the significance of this development, noting that on-chain accumulation has remained “very active” even as the demand for Spot Bitcoin ETFs has stagnated for four weeks. This suggests that Bitcoin bulls could help shore up the demand gap left open by these ETFs.  BTC Price Shows Strength Bitcoin dropped below the $60,000 support level following reports about Israel’s retaliatory attack on Iran. However, the flagship crypto showed strength as it quickly rebounded above the $60,000 price mark. This is significant considering how much Bitcoin and the broader crypto market declined rapidly following Iran’s attack against Israel on April 13.  Related Reading: XRP Whales Are On The Move Again, But Are They Bullish Or Bearish? Furthermore, the quick price recovery also suggests that Bitcoin has established strong support around the $60,000 price range and could be set for a parabolic move to the upside once this period of consolidation is over. Crypto analyst Crypto Rover also recently commented on Bitcoin’s future trajectory, stating that the crypto token will come out with a “banger” soon enough. At the time of writing, Bitcoin is trading at around $62,000, up in the last 24 hours according to data from CoinMarketCap.  BTC price recovers above $64,000 | Source: BTCUSD on Tradingview.com Featured image from Crypto News, chart from Tradingview.com

Stablecoin Market Climbs $2.81B in a Week, Nearing $160B Valuation

Stablecoin Market Climbs $2.81B in a Week, Nearing $160B ValuationOver the past seven days, the stablecoin sector has expanded by $2.81 billion, bringing the dollar-pegged cryptocurrency market close to a total valuation of $160 billion. A significant portion of this growth, exceeding $2 billion, is attributed to the increase in USDT’s market capitalization, which reached $109.38 billion by Friday at 1:00 p.m. Eastern Time. […]

Bitcoin’s Next Move Revealed: Trading Guru Reveals This Cryptic Chart Pattern, Here’s What It Says

Legendary trader Peter Brandt has recently shared notable insights into the potential future trajectory of Bitcoin price, suggesting the possibility of a significant market move for the crypto asset. This insight comes as Bitcoin appears to be recovering slightly from its week-long decline. The asset is up nearly 5% over the past 24 hours, with a current trading price of $64,968 at the time of writing. Related Reading: Bitcoin Halving Hysteria: Will History Repeat Itself Or Are We Heading For A Market Meltdown? Bitcoin Next Move According To This Chart Pattern Brandt’s analysis, presented through a series of charts, outlines a distinctive pattern in Bitcoin’s historical price behavior, characterized by three distinct phases.: the Hump-Slump, Bump-Rump, and Pump-Dump cycles. As per Brandt’s observation, while Bitcoin has completed the initial two phases of the cycle, the third phase, marked by the “pump” component, remains unfulfilled, hinting at potential bullish momentum ahead. What say you?? $btc pic.twitter.com/IDvIpkZeER — Peter Brandt (@PeterLBrandt) April 18, 2024 Meanwhile, amid heightened market volatility and uncertainty, Bitcoin has faced notable price fluctuations, experiencing a nearly 10% decline over the past week. However, recent bullish momentum has seen the cryptocurrency surging by 3.7% in the past 24 hours, with its price briefly climbing above $65,000 after hitting a 24-hour low of $60,000. This upward movement aligns with Brandt’s suggestion of a pending bullish phase in Bitcoin’s price cycle, adding weight to the anticipation of a potential market “pump.” Insights From Industry Leaders And Analysts In addition to Brandt’s analysis, industry leaders and analysts have offered their perspectives on Bitcoin’s future trajectory. Anthony Scaramucci, founder and managing partner of Skybridge Capital, has recently projected a bullish outlook for Bitcoin, forecasting a potential price surge to $200,000 following the upcoming halving event. Scaramucci cited various factors, including the influence of new financial products like spot ETFs and increasing institutional interest, as key drivers behind Bitcoin’s anticipated price appreciation. Related Reading: Bitcoin Could Drop To $52,000 If Price Breaks Below This Mark – CryptoQuant However, amidst optimistic forecasts, CryptoQuant, a prominent crypto analytics platform, has cautioned that Bitcoin could face a significant downturn to $52,000 if its price breaches the critical $60,000 support level. Derivative Uncertainty “If the price breaks below $60,000, we might witness a decline to $52,000 before a subsequent rise.” – By @ShivenMoodley Full post 👇https://t.co/XSBnfexbzZ — CryptoQuant.com (@cryptoquant_com) April 18, 2024 A CryptoQuant analyst particularly noted: If the price breaks below $60,000, we might witness a decline to $52,000 before a subsequent rise. However, given the significant dominance of institutional ETFs, I wouldn’t be surprised if they accumulate excess supply from liquidations near the short-term support level of $60,000. Featured image from Unsplash, Chart from TradingView

Ripple CEO Walks Back $5 Trillion Crypto Marker Prediction, Unveils New Target

The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, has revised his earlier ambitious prediction on the crypto industry’s future market capitalization, acknowledging that he had underestimated the market’s potential surge.  Ripple CEO Underpredicts Crypto Market Cap Appearing in a recent interview with Fox Business, Garlinghouse shed light on the growth potential of the cryptocurrency market as well as its performance since the beginning of the year.  The Ripple CEO was questioned about his previous optimistic forecast for the crypto industry’s market capitalization, in which he projected that the market cap would double to approximately $5 trillion by the end of the year. According to CoinMarketCap, the current global cryptocurrency market capitalization stands at roughly around $2.25 trillion.  Related Reading: Here’s What Would Happen If The Bitcoin Price Fell Below $58,000 In response to the inquiry, Garlinghouse expressed his belief that his previous predictions were not overly ambitious, emphasizing the market’s potential for further growth. He admitted to underpredicting the industry’s potential market capitalization by the end of 2024, citing factors such as the current supply and demand dynamics driving additional increases.  Garlinghouse noted that the current market conditions are characterized by increased demand and reduced supply, with these dynamics playing a significant role in the performance of cryptocurrencies.  He disclosed that the Spot Bitcoin ETF market and the overall sentiment regarding Bitcoin’s value have significantly boosted demand for the cryptocurrency. Meanwhile, Bitcoin’s supply is diminishing due to the increasing number of large-scale investors purchasing the cryptocurrency rapidly. Additionally, the impending Bitcoin halving event is expected to further decrease the cryptocurrency’s supply.  Assessing the current state of the crypto market, Garlinghouse stated that since the last six months, Bitcoin has been up by more than 250%, with further increases anticipated. He also asserted that this overperformance was largely driven by the approval and launch of Spot Bitcoin ETFs as well as the upcoming Bitcoin halving.  Regulations Are Vital For Market Development Garlinghouse has disclosed that establishing proper regulatory frameworks for the cryptocurrency market would yield positive outcomes for the market in the future.  He explained that one of the primary factors hindering the growth of this evolving market was the United State’s prevailing anti-crypto stance, suggesting that the country’s enforcement actions on the developing industry were “problematic.” Related Reading: Goldman Sachs On Bitcoin Halving: ‘It doesn’t Matter If It’s A Buy The Rumor, Sell The News Event’ The Ripple CEO highlighted several countries, including Dubai, Singapore and the United Kingdom, which have been proactively embracing cryptocurrencies and implementing proper regulatory systems to foster further growth in the market.  Garlinghouse has asserted that the US has significantly lagged in recognizing the transformative and innovative impact of the cryptocurrency market, attributing this setback to the United States Securities and Exchange Commission (SEC) and its current Chair, Gary Gensler. Total market cap at $2.2 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from Bitcoinist, chart from Tradingview.com

Economist Peter Schiff Declares ‘Bitcoin Fad is Over’ as Gold Prices Soar

Economist Peter Schiff Declares 'Bitcoin Fad is Over' as Gold Prices SoarAfter the overnight Israeli retaliatory strikes against Iran, gold prices have settled around $2,388 per ounce, having briefly touched the $2,400 mark right after the events. Over the last five days, gold has increased by 1.85%, while bitcoin has declined by 8% since the onset of the conflict last Saturday, April 13. Following last night’s […]

BlockDrop Debuts Weekly SOL Airdrops Backed by Bitcoin Mining Rewards

BlockDrop Coin operates as a cutting-edge cryptocurrency that allocates mining rewards to token holders via weekly airdrops, simplifying access to the mining economy. Historically, the entry barriers to profitable Bitcoin mining have steadily increased, pushing individual miners and small operators to the periphery of the Bitcoin mining economy. This centralization of Bitcoin mining power raises […]

Ethereum Fueled Up: Will 320 Million USDT Inflow Ignite Price Surge?

The winds of change are swirling around Ethereum (ETH), the world’s second-largest cryptocurrency. While the Ethereum network itself is buzzing with activity, the price of ETH has taken a tumble in recent days, leaving investors scratching their heads. Related Reading: All Quiet On The Bitcoin ETF Front – Should You Be Paranoid? A glimmer of hope emerged with Tether’s (USDT) recent movement. Tether, the issuer of the world’s most popular stablecoin pegged to the US dollar, transferred a whopping $318 million worth of USDT from its treasury wallet directly to exchanges on the Ethereum network. Source: X This outflow suggests potential anticipation of increased demand for USDT, which could, in turn, signal rising investor interest in the broader cryptocurrency market. Historically, Tether has minted large amounts of USDT during periods of heightened crypto activity, and the rumor mill now churns with speculation that another billion USDT might soon be minted specifically on Ethereum. However, analysts caution against blind optimism. While an increase in USDT activity could bode well for Ethereum, it’s not a guaranteed path to prosperity. Other blockchains, like Tron, are also capable of handling USDT transactions, offering investors alternative avenues. Total crypto market cap is currently at $2.289 trillion. Chart: TradingView Price Woes And Investor Sentiment Meanwhile, the price of ETH has stubbornly refused to cooperate. As of today, ETH is trading below the crucial $3,000 mark, having dropped by nearly 3% in the last 24 hours. Ethereum has lost 11% of its value in the last seven days, data from Coingecko shows. Related Reading: Toncoin Unleashes DeFi Monster Growth: TVL Soars 300% In A Month A further price drop below $3,000 could trigger panic selling, exacerbating the downward spiral. The current situation presents a complex picture for Ethereum. While Tether’s recent move and steady network activity offer slivers of optimism, the declining price and NFT market correction paint a contrasting picture. A Hive Of Activity Despite Stress On Price While the price of ETH might be feeling the heat, the Ethereum network itself is humming with activity. Unlike the recent slump in the NFT (Non-Fungible Token) market, overall network usage has remained remarkably consistent. This suggests a shift in focus within the Ethereum ecosystem. While the flamboyant world of NFTs might be experiencing a temporary correction, other sectors within Ethereum are picking up the slack. The rise in DeFi (Decentralized Finance) transactions, stablecoin swaps, and general token activity could be the hidden forces keeping the network busy. Featured image from Pexels, chart from TradingView

Toncoin Price Jumps 17% As Tether Widens Payment Choices On Telegram’s TON Network

Tether, the company behind the largest stablecoin in the market, USDT, has made a significant expansion move that has propelled the Toncoin price, the native token of The Open Network (TON), by 17% in the past 24 hours.  Tether Expands Reach To 15 Blockchains On Friday, Tether announced the launch of its USDT dollar-pegged token and Tether Gold (XAUT), a gold-backed digital token, on The Open Network. This development marks a significant move for Tether, expanding its presence to 15 blockchains.  The integration of TON with Telegram, which boasts over 900 million global users, is expected to provide a “seamless and borderless” experience for peer-to-peer (P2P) payments within Telegram’s user base. With the introduction of USDT and XAUT on TON, Tether aims to facilitate the easy transfer of value between users in the TON ecosystem and other blockchain networks while increasing the transfer speed and reducing costs.  Related Reading: Analyst Forecast: Litecoin Poised For $250-$300, But Can It Hold? Paolo Ardoino, CEO at Tether, expressed excitement about the launch, emphasizing their support for The Open Network’s vision of an open and “decentralized internet.” Ardoino stated: We’re excited to bring USD₮ and XAU₮ to The Open Network because we support its vision of an open and decentralized internet and a borderless financial system. The launch of USD₮ and XAU₮ on TON will allow seamless value transfer, increasing activity and liquidity while offering users a financial experience that can match those found in the traditional financial system. This furthers our mission of powering open financial infrastructure across the blockchain space. 11 Million TON Tokens To Drive Adoption Of USDT, XAUT Meanwhile, The Open Network claims to “revolutionize” global peer-to-peer payments, allowing Telegram users to send money instantly without needing a blockchain address or downloading a new app.  Notably, USDT on TON will be complemented by fully integrated on-ramps supporting most fiat currencies globally. Additionally, integrated global off-ramps will facilitate users’ withdrawal of supported fiat currencies directly to their bank accounts or cards. The TON Foundation has allocated 11 million TON tokens as incentives to drive adoption. Five million TON will be utilized to boost rewards in USDT/TON liquidity pools across TON decentralized exchanges (DEXes) like StonFi and Dedust.  Another 5 million TON will be distributed to users who deposit USDT to the Earn campaign of Telegram’s wallet. Furthermore, withdrawals to TON from supporting exchanges such as OKEx, Bybit, and KuCoin will be free for all users until the end of June 2024. Related Reading: Bitcoin Halving Could Catalyzed $100,000 Price Surge: Bitwise CEO Ultimately, the introduction of USDT and XAUT on TON, coupled with the incentives provided, is expected to accelerate the adoption of TON and establish it as a “faster, easier and more cost-effective” cross-border payment system compared to traditional financial services, according to The Open Network’s announcement.   Toncoin Price Rallies Following the disclosure of the partnership, the Toncoin price surged, reaching a high of $8.02 on Friday. This marked the end of a sharp decline over the past week since the token achieved its all-time high (ATH) of $8.79 on April 11. After reaching the new ATH, the Toncoin price dropped to a low of $5.42 on Saturday, April 13. However, with the recent partnership announcement, the Toncoin price has regained its bullish momentum and is currently trading at $6.59.  It aims to surpass the price resistance level of $7.70, which will pave the way for reaching and surpassing the $8 mark. This would provide a favorable trajectory for the Toncoin price to conquer and exceed its current ATH. Featured image from Shutterstock, chart from TradingView.com

Crypto Expert Predicts A Narrative Shift Post-Bitcoin Halving

Crypto expert Michaël van de Poppe has provided insights into what to expect when the Bitcoin halving occurs on April 19. As part of his analysis, van de Poppe suggested that the attention might shift from Bitcoin once the event occurs.  A Narrative Shift To Occur Post-Halving Van de Poppe mentioned in an X (formerly Twitter) post that narratives will change as the halving event approaches but failed to specify what the new narrative will be when this happens. However, in a previous X post, the crypto expert laid out some of his expectations for the crypto market going forward, which included what he expected the new narrative to be.  Related Reading: XRP Whales Are On The Move Again, But Are They Bullish Or Bearish? According to Van de Poppe, the narrative will shift to Ethereum (ETH) and projects that are focused on Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA). These sectors, along with Artificial Intelligence (AI) and meme coins, have been projected to be among the leading narratives in this bull run.  Meanwhile, the crypto expert, who has so far continued to state that altcoins are greatly undervalued, expects these crypto tokens to bounce “in their Bitcoin pairs” once the hype around the halving is over. Furthermore, Van de Poppe mentioned that altcoins will show bullish strength from this second quarter until the summer after which a correction will come in the third quarter of the year. Before now, the crypto expert listed ten altcoins he believes could make the most price gains when the altcoin season begins in full force. These tokens include Chainlink (LINK), Celestia (TIA), Arbitrum (ARB), Polkadot (DOT), Cosmos (ATOM), DYDX (DYDX), WooNetwork (WOO), Sei (SEI), Skale Network (SKL), and Covalent (CQT).  Expectations For Bitcoin In the short term, Van de Poppe expects Bitcoin to experience a relief bounce to around $70,000. However, he didn’t sound so bullish about the flagship crypto’s long-term trajectory, predicting that Bitcoin will face a period of consolidation that he doesn’t expect to change in the “coming months.” In another X post, he said, “It’s a waiting game on Bitcoin currently, as momentum is relatively gone.” He added that he expects Bitcoin to continue “the retracement and consolidation,” while altcoins will bounce up in their BTC pairs during this period.  Related Reading: Crypto Analyst Predicts Cardano Rally To $3 As Price Reaches ‘Ultimate Support Test’ This predicted consolidation period looks to be the re-accumulation phase in the stages of Bitcoin halving, which crypto analyst Rekt Capital once referred to. Elaborating on what this period is like, Rekt Capital stated back then that many investors get “shaken out in this stage due to boredom, impatience, and disappointment with lack of major results in their BTC investment in the immediate aftermath of the Halving.” Once this period is over, Bitcoin is expected to make its “parabolic uptrend,” a phase that Rekt Capital noted historically lasts just over a year. In line with this, it is worth noting that most of Bitcoin’s price gains usually come between six months to a year after the Bitcoin halving has occurred.  BTC price shows bullish momentum ahead of halving | Source: BTCUSD on Tradingview.com Featured image from Yahoo Finance, chart from Tradingview.com