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Home»ALTCOIN NEWS»A long period of consolidation is ahead for cryptocurrencies, analysts say, as the market has already used up all its juice.
ALTCOIN NEWS

A long period of consolidation is ahead for cryptocurrencies, analysts say, as the market has already used up all its juice.

By Crypto FlexsJanuary 9, 20242 Mins Read
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A long period of consolidation is ahead for cryptocurrencies, analysts say, as the market has already used up all its juice.
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One closely watched trader believes the cryptocurrency market is nearing the end of its uptrend after an outstanding performance last year.

Household analyst The Flow Horse told his 196,800 followers on social media platform

According to the trader, his short- and medium-term bearish outlook will be nullified if investors pour massive liquidity into Bitcoin (BTC) exchange-traded funds (ETFs).

The U.S. Securities and Exchange Commission (SEC) is expected to make decisions on a series of BTC ETF applications between now and tomorrow.

Called flow horse,

“Unless ETFs actually start printing, I think we’ve run out of juice. We could see long-term cuts and the market reclaiming unskilled gains, although they won’t be permanent.

Think how ridiculous it is that people still say ‘the work has just begun… the biggest rally is about to begin’.

Do you sleep under a rock? “The printer has been printing continuously for almost a year.”

The merchant continues say Long consolidation periods can last half a year or more.

“Six to eight months is fine. “What I’m worried about is the next few months.”

The Flow Horse believes that the cryptocurrency market will adjust and consolidate in the coming months. Believe Bitcoin will continue its long-term bullish trajectory.

“Positive drift arises from the passive flow of new assets championed by younger generations. This is one of the reasons why we can’t even enjoy the conversation about ‘What if Bitcoin’s valuation is over?’ “Returns will gradually decrease, but in the long run they will rise to the right.”

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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