Many analysts are orienting their beliefs on the evolution of Bitcoin in a progressively negative key, remembering that at the end of this BTC consolidation period it could embark on a negative phase. A fear that i CFD broker they are seeing clearly, given that short positions on Bitcoin are skyrocketing, driven by an impression of weakness influenced by various technical and fundamental drivers.
However, the strength of the asset in the face of these developments is a positive sign that could suggest that the positive side of the coin is in fact imminent, thus disproving a good portion of investors.
In particular, if Bitcoin continues to consolidate over a rather long period of time, it is likely that it can provide altcoin a margin of growth in the days and weeks to come.
It is also important to note that this consolidation phase is taking place exactly between the lower and upper limits of the $ 10.200 - $ 11.200 range, which has formed in recent weeks, and that it is possible that BTC may remain in this area for some time yet. thus giving more time and more opportunities to altcoins to be able to move with less correlations than the main cryptocurrency.
If this were the case, the fourth quarter of 2020 could represent a very interesting time for the sector DeFi, particularly affected by the recent market crisis, but perhaps in the odor of a notable rebound. We'll see if this is actually the case!