Experts from Matrixport have stated that cryptocurrencies will consolidate throughout the year as the pace of transition from fiat currencies to digital assets has slowed.
According to analysts, this situation is due to the tighter monetary policy of the US Federal Reserve, which changed in mid-December.
In addition, experts believe that since the conversion of fiat currencies into stablecoins remains low, Bitcoin and other cryptocurrencies are likely to continue to consolidate. Although the quiet holiday period has passed, stablecoin issuance has not yet shown a significant recovery, experts noted.
In their opinion, the above indicator is the main one, since an increase in the issuance of stablecoins, as a rule, signals an increase in demand for cryptocurrencies.
There is a slight increase at the moment, and if this trend continues for several months, then Bitcoin is quite capable of returning from consolidation to a bullish trend.
If Bitcoin will be able to break the $100,000 mark and stay there, there is a chance that BTC will set another historical maximum.
