‘Very possible’ Bitcoin consolidates for 8 months again: 10x Research
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A crypto researcher says that Bitcoin’s price chart shows “little evidence to support a strong price recovery” in the near term.
10x Research’s head crypto researcher isn’t ruling out Bitcoin repeating its 2024 price action, where it spent the majority of the year consolidating after hitting all-time highs early on.
“Very possible,” Markus Thielen told Cointelegraph when asked what the chances of Bitcoin (BTC) repeating a similar market movement to 2024. In March 2024, Bitcoin reached an all-time high of $73,679 before entering a consolidation phase, swinging within a range of around $20,000 up until Donald Trump was elected as US president in November.
Thielen said he had this thought even two months ago, around the time Bitcoin hit its current all-time high of $109,000 on the day of Trump’s inauguration.
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