- Bitcoin is anticipated to maintain a rangebound movement until at least the fourth quarter of 2023, as projected by Filbfilb, a well-known analyst and co-founder of trading suite Decentrader.
- Filbfilb's analysis is based on historical patterns. He notes that approximately 1,200 days after a previous halving event, Bitcoin tends to enter a consolidation phase. Around 1,276 days post-halving, miners and smart money investors often drive prices higher.
- The analyst predicts that the fourth quarter of 2023 will be a crucial period for Bitcoin. During this time, supply could be constrained, and new investment driven by speculation may occur.
- Despite these insights, Filbfilb cautions that the macroeconomic policies of the United States are a significant factor to consider. These policies could potentially impact Bitcoin's performance in the coming months.
- Overall, the analysis suggests that Bitcoin's price movement could remain subdued in the short term, with potential for more significant shifts in the fourth quarter of 2023 driven by various factors, including supply dynamics and broader economic conditions.
