Hey everyone. How are you all? I hope things are good for you. For the past few days. I have been keeping an eye on bitcoin prices more than I have done so in the days prior. I don't know why I did that but I did that. And upon looking closely I found something which is obvious by now. And that is Bitcoin is consolidating. Now, for those of you who don't know what this means, it means that the price of BTC is not moving very much. It is relatively stable and hovering between 87,000 and 90,000. Considering that is less than 3% of bitcoin's price during its all-time highs, it is safe to assume that Bitcoin is consolidating. It can be around about 5% according to current prices.
So Bitcoin consolidation isn't what I came to talk about today. It is something you guys already know. But I wanted to say that I know I might sound like a broken record, but I am still waiting on that altseason. Now there have been many indicators. Believe that altseason is near. Although I don't even know all those indicators and all those the givers of indications. But there's one thing I do know. Is that at some point in the market when the first class coins get consolidated such as Bitcoin and ethereum, usually the money flows to the next coins in line. Which is largely the altcoins. Then it kicks off the altcoin season as the money slowly trickles down towards smaller coins, one buy one. Or at least that has been the case for the past few cycles. So this time since BTC is consolidating one might expect to have another go at the altcoins. But the problem is, or may I say there are multiple problems. One is that ethereum hasn't consolidated yet so I guess we will have to wait a little longer. Ethereum is still running around. Although it is on a path of consolidation.
I wish I could say that these are the only reasons that are stopping us from having a proper old season. But the truth is this time there are a lot more factors in play which are making this cycle completely fall out of sink with the previous cycles. That's why it is becoming very hard to assume what might happen next.
