If Bull Market Doesn't Happen in 14 Days, Will Bitcoin Prices Continue to Fall?

Bittime - 2024 will be an important year for crypto market players because it coincides with the Bitcoin halving which occurs every 4 years. Many are expecting Bitcoin prices to surge and a bull market to occur. 

However, according to CryptoQuant CEO, Ki Young Ju, Bitcoin may face the longest period of consolidation in the history of the halving year if there is no price spike in the next 14 days. 

Bull Market and Bitcoin Price

Source: x.com/ki_young_ju

2024 has already been 285 days, but in fact Bitcoin is still showing a consolidation pattern, namely the price moves in a narrow range without any significant spikes. 

According to Ki Young Ju, if in the next 14 days, a bull market does not occur, then Bitcoin will enter the longest consolidation period in the history of the halving year. 

Prolonged consolidation can be a cause for concern, as it indicates that the market still has not found a clear direction. 

In situations like this, investors tend to wait for further developments before making major decisions, which ultimately slows down price movements. 

Read Also: Bitcoin Should Break $65,000 Level as a Sign of a Bull Market? 

Bull Market Prediction

This prediction by the CEO of CryptoQuant certainly adds to the tension among investors because usually the trend will increase after the Bitcoin halving event.

Even so, some analysts are still optimistic that even though Bitcoin has not yet entered a bull market, the potential for price increases still exists in the remainder of this year or early next year. 

External factors such as crypto regulations, global interest rate policies, and institutional adoption can play a big role in determining the future direction of Bitcoin prices.

Waiting for a Bull Market or Protecting a Portfolio

In situations like this, investors are faced with difficult choices. Do you keep holding assets and wait for the bull market or start taking action to protect your portfolio? 

For those who have been investing in Bitcoin for a long time, price consolidation may be nothing new. The crypto market is known for its high volatility, and bull markets often come after long periods of consolidation.

However, for new investors, this situation may cause anxiety. In conditions like this, it is important to remain calm and consider long-term investment goals. 

Read Also: Bitcoin Performance in Q3 Weakened, Still the Best Asset in 2024? 

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