Bitcoin, do something!

Or not?

Bitcoin is currently experiencing a standard pullback of 4%.

It's very common to see a price retracement after such a quick run-up.

What I like about the move up is the strength with some good volume, recapturing the $60-70k range.

Let's take a moment to appreciate the massive surge in September 2023, going from $25k to $70k.

When you look at the multi-month consolidation now, you shouldn't become nervous. This move just takes time to absorb, and it has been one of the more bullish moves for BTC compared to previous cycles. Bitcoin reaching an all-time high before the halving has never happened before. 

So, the pause we are in right now is very natural and normal. Last year, around the same timeframe, Bitcoin had a similar pause that lasted 6 months. Currently, Bitcoin has been going sideways for only 4 months.

This allows sentiment to reset and a new holder base to develop. The main takeaway is that big moves take time to be digested. It's just a matter of time before all sellers are absorbed, allowing for a trend higher again. There are a lot of positive factors supporting Bitcoin right now. There is a shift on the political side towards a more favorable stance on crypto, and that's certainly not priced in. For many years, this was the big threat, and now it's been removed.

So, there will be a continuation of the next phase of the 4-year cycle, but first, the current accumulation phase needs to end.

Hope you enjoy my updates. Don't hesitate to follow me so we can profit together!

Written by Timothy Assi, a popular investor on eToro. Follow & copy my portfolio:

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