My current thinking is that Bitcoin
is in for a significant period of consolidation. Price has fallen far enough that investors are scared and it won't bounce back hard like it has done during the last few corrections. So what I'm thinking is that Bitcoin
is going to consolidate at 5k-6k and it's going to stay around that area for a few months. Ethereum
will likely overtake the #1 market cap spot during that time, though not necessarily permanently. It will likely also be a good period for altcoins as they won't constantly be pulled down by a dropping Bitcoin
. By the end of it, Bitcoin
might just be "another coin", though still an important one, rather than the arbiter of the whole crypto market.