Analysts: Bitcoin's current consolidation period could evolve into a medium-term bear market

BlockBeats News: On March 11, Ruslan Lienkha, head of marketing at YouHodler, pointed out that the consolidation phase of Bitcoin last year lasted for several months (or even half a year) before ushering in the next wave of gains. However, he believes that the current market environment is more complex. “Pessimism prevails in the U.S. stock market, and fears of a possible recession in the U.S. are intensifying.” “Given these factors, the current consolidation period could evolve into a medium-term bear market,” Lienkha said. However, Lienkha noted, “Despite the potential for Bitcoin to evolve into a safe-haven asset in the future, investors still view it as a risky asset for now, often reacting more violently to changes in market sentiment than traditional financial markets.” （Blockworks）