How long will Bitcoin remain range-bound?

in #crypto3 months ago

Waiting for bitcoin to move is like watching paint dry. The halvening was some months ago, but the market appears stuck. Here's the chart:


source

The latest excuse for the price falling back slightly is that MtGox settlement coins are moving.

I personally wonder if the market is waiting for a cut in interest rates from the Fed before breaking out. The trouble is, inflation is still elevated, and as the US Presidential Election draws nearer, the Fed will want to avoid any interest rate changes at all lest they be accused of favouring one candidate or another.