The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term.
According to analysts at cryptocurrency exchange Bitfinex, Bitcoin (BTC) could experience up to two months of price consolidation following the halving.
The latest edition of the Bitfinex Alpha market report notes that Bitcoin could continue to be the price action benchmark for the crypto market in May and the leading indicator for the entire cryptocurrency market cap.
According to the report, the macroeconomic environment is more resilient than in previous years and the likelihood of rate cuts remains low in the short term.
