markets Cryptocurrencies Aave Price Analysis Bitcoin Bitcoin Price

Bitcoin price consolidation opens the door for APE, MANA, AAVE and FIL to move higher

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After nearly a 20% rally last week, Bitcoin (BTC) is on track to end this week with gains of roughly 10%. Bitcoin’s rally has improved sentiment and attracted buying in several altcoins.

This sent the total crypto market capitalization firmly above the $1 trillion mark.The strong recovery in Bitcoin has startled several analysts who remain skeptical about the rally.

Some believe that the current rise is a dead cat bounce that will reverse direction sharply while others see similarities between the current rally and the 2018 bear market recovery.

Although traders should be ready for any eventuality, the pace of the rise in Bitcoin does point to a possible major bottom.

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