Bitcoin

The post <a href="https://coinpedia.org/price-analysis/crypto-markets-continue-to-consolidate-here-is-what-may-happen-next-with-the-bitcoin-btc-price/">Crypto Markets Continue to Consolidate: Here is What May Happen Next with the Bitcoin (BTC) Price</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto markets are undergoing a roller coaster ride as the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> is juggling between narrow ranges. The price has now dropped below $42,000 at the moment, suggesting a significant shift to the other altcoins within the space. This has caused the markets to maintain a silent trend while the global crypto market cap remains above $1.6 trillion. Besides, some possibility of the star crypto, Bitcoin, taking the liquidity below $40,000 emerges. 
If Bitcoin plunges back below $40,000, what may happen to the crypto market trend in 2024? Will the bull run forecast remain in place, or will another year be marked for a recovery phase? 
The BTC price is trading within the range of high and low levels, as the bulls fail constantly to elevate the token towards the resistance zone between $44,200 and $44,700. In such a case, can we expect a minor pullback? 
A popular analyst, <a href="https://twitter.com/CryptoMichNL/status/1735954311379595450" target="_blank" rel="noreferrer noopener nofollow">Michael van de Poppe</a>, suggests a small trend reversal for the star token and believes the price will drop below $40,000 soon. 
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<blockquote class="wp-block-quote"> 
 “The markets are still consolidating, which is normal. 
 I generally would be pleased to see Bitcoin take liquidity beneath $40K and go back up from there towards the highs and the ETF approval.” 
</blockquote> 
Now that a drop in the BTC price could be imminent, will the token close the yearly trade on a bearish note? Here’s what may happen next in the crypto markets.&nbsp; 
<ul> 
 <li>Bitcoin may continue to rise and could also hit the highs. But the rally may only be for a short time frame.&nbsp;</li> 
 <li>Further memecoins may begin to surge, which may indicate the end of the prevailing rally</li> 
 <li>Whales and large players take a step back, which may initiate a minor dump within the markets</li> 
 <li>The longs could get liquidated, due to which market participants may lose hope over the rally ahead</li> 
 <li>The economy could turn bullish in the coming year, and fresh capital may make its way out&nbsp;</li> 
 <li>Bulls and whales jump in, causing a significant rise in the markets that will be missed by retail traders.&nbsp;</li> 
</ul> 
The markets have been following more or less a similar pattern, and hence, repetitive action may be expected in the coming days. If this materializes, the bitcoin price may consume more time than speculated to form a new ATH beyond $70,000.

Crypto Markets Continue to Consolidate: Here is What May Happen Next with the Bitcoin (BTC) Price

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