Hedge Fund Manager Sees Bitcoin's Boring Phase Lasting Up To 6 Months

Bitcoin has reached a rather motionless state, with prices struggling to break through the $65,000-mark, and a hedge fund manager believes this phase will last longer than newbie Bitcoiners expect. (Credit: QuoteInspector.com/flickr)

KEY POINTS

• Among the "common symptoms" of being in the said phase includes believing the bull market is over, he said
• Edwards said that gold went through a similar phase for 4 years, so a 6-month bear run for BTC is "reasonable"
• He went on to project that the symptoms will likely reach its peak before a "mega rally"

Bitcoin, the world's largest digital asset by market value, is in a stagnant state, and a prominent hedge fund manager believes this phase will not end anytime soon, further predicting that sentiment will be mostly negative before the digital currency heats up again.