Bitcoin's Boring Pattern Is a 'Good Thing': eToro US Analyst

This type of contraction and volatility and this type of consolidation is really a good thing. It a lot of investors probably view it as boring. Maybe some are getting frustrated with the lack of um traction that Bitcoins had on, on, you know, on the upside of all these sort of false breakouts, these false hopes, you know, uh every time it looks like it's ready to go and run to new highs, it stalls out and pulls back. But I think investors need to remember the bigger picture, you know, Bitcoin basically doubled from its January low to its March high. You know, it doubled in price in two months from, you know, from the fourth quarter low or the third quarter low. I think it was September maybe last year, the asset almost tripled in price. So Bitcoins had a tremendous move in a relatively short period of time. And if you're a long term holder and a long term investor in it, that truly the best thing you can hope for is that Bitcoin trade sideways like it's doing for several months. And you know, whether that ends up being in September where it, it finally gets that traction or it's, you know, later in the fourth quarter, maybe, even next year.