I fully agree with a rather interesting statement made by Gustavo Godoy to the Cointelegraph portal when he said that "In the world of cryptocurrencies, we sometimes encounter an interesting phenomenon: the markets do not show a clear upward or downward trend, but remain relatively stable."
In Godoy's words, "This occurs when there is a balance between buyers, those who wish to acquire cryptocurrencies, and sellers, those who prefer to sell them. This behavior is called a sideways trend or stagnant market".
Additionally I highlight that, "When the market is stagnant, it means that there is no general consensus on the price of cryptocurrencies; there are not enough factors driving the price either up or down. In these periods, it is common for investors to adopt a wait-and-see attitude, watching how the market develops before making decisions."
The truth is that, "The Bitcoin market has experienced an unusual calm following the impressive price surge seen in recent quarters. This calmness could be influenced by the introduction of innovative financial products linked to Bitcoin (the BTC ETFs)."
One element to consider is that, "For the market to regain its dynamism, it may need a new story that captures people's imagination, something that promises innovation and future opportunities. This could be the development of new technologies, the adoption of cryptocurrencies by large corporations, or even favorable regulatory changes."
SOURCES CONSULTED
Cointelegraph. Short-term view: A brake on the cryptocurrency rally?. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Forbes
