The founder of the international fund Capriole Investment is confident that the first cryptocurrency is in the so-called “bored to death” stage. In his opinion, the current period of asset consolidation will last up to six months.
Charles Edwards believes that Bitcoin prices will remain in a range with minor volatility until traders lose patience. The manager of Capriole Investment assumes that market sentiment will be as negative as possible before the end of the sideways trend.
“Bitcoin is in the “bored to death” stage. It will last from 1 to 6 months,” he said.
According to the expert, traders are showing little interest in the latest Bitcoin pullback, which indicates that the BTC price is close to the bottom. Edwards explained that the market will remain uncertain in the short term and growth can only be expected to resume in the fourth quarter of 2024.
Earlier, analysts from CoinShares presented a report where they concluded that the price of the first cryptocurrency in the near future will be influenced by the behavior of the US Federal Reserve System (FRS).
