Bitcoin has seen some of the most boring price action it has witnessed in over a year.
After ranging between $9,000 and $10,000 for over two months, the cryptocurrency has now narrowed its trading range to between $9,000 and $9,300, with BTC primarily just hovering around $9,100.
The benchmark digital asset is showing few signs of breaking this trend anytime soon, but one analyst does believe that this could mark the “calm before the storm.”
So. what do you think?
Very much possible! Even in the real world stock market, whenever we see a prominent stock is stagnated between a small price range, it usually shows a sign of upcoming uptrend. However, it is hard to predict for bitcoin though. Because the bitcoin market is manipulated by whales and big pocket investors. So not sure what will happen to bitcoin. We can only speculate at this time!
So long term holders are good but those who are actively trading, probably needs to be a bit more cautious before approaching the market with a very optimistic mode.