Analyst Claims Bitcoin Unlikely to Gain a Trend Until 2 Key Events Occur

It has been a rocky past week for Bitcoin, as the cryptocurrency has primarily been subjected to a bout of sideways trading Its inability to gain any trend is likely due to the stock market’s consolidation phase For better or worse, BTC has grown incredibly tied to the traditional market Its near-term trend may depend almost entirely on that seen by equities That said, one analyst is now pointing towards two key events currently taking place that need to end before Bitcoin can make a movement Bitcoin and the entire cryptocurrency market have been caught within a consolidation phase throughout the past few days and weeks. This bout of sideways trading has done little to provide traders and investors with insight into where it may trend next. Periods of consolidation as intense as this one are nearly always following by massive movements. The longer and tighter the consolidation phase, the…

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