Bitcoin is 10% down post-halving and slower than ever to hit a new all-time high. Market experts weigh in on what’s causing BTC’s extended stagnation.
Bitcoin is grappling with a prolonged recovery to reach a new all-time high after its latest halving event. According to veteran trader Peter Brandt, BTC’s post-halving performance is taking longer than ever, leaving traders and investors uncertain.
Key Points:
Bitcoin is still 10% below its all-time high following the 2024 halving.
Peter Brandt highlights that Bitcoin’s post-halving recovery is slower than in previous cycles.
Inflation-adjusted, Bitcoin’s 2021 peak remains unchallenged, posing strong resistance.
Despite upcoming Federal Reserve rate cuts, experts predict continued sluggish price movement for BTC in the near future.
As Bitcoin lingers in a prolonged recovery phase, experts like Peter Brandt emphasize the importance of patience. The crypto market may face further challenges in 2024, but long-term holders could see brighter days ahead, especially if BTC finally overcomes its current resistance levels.
Source: Cointelegraph
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