Bitcoin May Consolidate for 2 Weeks Before Seeing “Lift Off”

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Bitcoin has been caught within a consolidation phase within the upper-$11,000 region for the past several days and weeks The cryptocurrency has been struggling to break above the heavy resistance that sits between $11,800 and $12,000 for the past several days This comes as investors once again focus their attention on altcoins – many of which have posted massive returns today It now appears that this consolidation phase may persist for a couple more weeks One analyst is noting that it may be mid-to-late August before BTC and ETH can rally higher Bitcoin has been caught in the throes of an extended bout of sideways trading ever since its rejection at $12,000 last Saturday. This has caused the cryptocurrency to see waning trading volume – which may be the result of traders shifting their focus towards small and mid-cap altcoins. As for where the benchmark crypto may trend next, one…

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