RATE Group | Bitcoin’s Slow Grind Up Provides Ideal Opportunity to Long Altcoins, Claims Analyst
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Bitcoin’s Slow Grind Up Provides Ideal Opportunity to Long Altcoins, Claims Analyst

28 Dec Bitcoin’s Slow Grind Up Provides Ideal Opportunity to Long Altcoins, Claims Analyst

Posted at 22:57h in Bitcoin News by

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The aggregated crypto markets have remained stuck within a firm bout of consolidation for the past several days and weeks, which has come about as Bitcoin fails to garner any momentum – in either direction – as it trades in the lower-$7,000 region.

One analyst is now noting that he anticipates Bitcoin to slowly climb higher in the coming year, which could provide multiple ideal long opportunities for smaller cryptocurrencies.

Analyst: Bitcoin’s Slow Upwards Grind to Favor Altcoins 

Bitcoin’s consolidation period within the lower-$7,000 region is currently showing no signs of letting up anytime soon, as each attempt by both bulls and bears to spark momentum in one direction or another has been unsuccessful, with bulls defending the support at $7,000 as bears defend resistance at $7,700.

Most major altcoins have been closely mirroring Bitcoin’s price action in recent times, which is incredibly common during times where BTC finds itself with…

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