As per the latest analysis, the price of Bitcoin could potentially experience several months of sideways movement before experiencing a major price action. Despite the recent halving, the Bitcoin price has formed a consolidated price action. Notably, the cryptocurrency market leader is currently displaying a similar trend from Q2 and Q3 of 2023. Further, other analysts also suggest that the ongoing BTC correction was “long overdue” considering the historic market sentiments. The historic events also highlight a similar trend during the 2016 bull market.

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