Bitcoin Price Holds Above $23,000 – Consolidation or Accumulation?

Bitcoin has, time and again proved that it is one of the best cryptocurrencies to be a part of, and to invest in. In the longer term, there is no doubt that BTC could be an excellent investment that could bring massive profits to the individual. However, it may be a bit difficult to speculate its movement on a short-term basis. The fact that it may be in its accumulation phase ideally is evidence that now may be the perfect time to start pouring funds into stocking up on Bitcoin.

The price of BTC was around $17k at the start of January, which has now crossed the $23k threshold. While more data and confirmation of a reversal are required, it can be safe to assume that BTC may be in for some more adoption, developments on a macroeconomic scale and price increase.