The cryptocurrency market witnessed a dramatic turn of events last week as Bitcoin's price plummeted by 7%, sending shockwaves throughout the industry. The world's largest cryptocurrency by market capitalization hit a low of $59,478, leaving investors reeling. Despite attempts to recover, Bitcoin has been stuck in a consolidation phase, trading between $60,100 and $62,300. This development has sparked intense speculation about the next move for the crypto giant.

John Bollinger, the mastermind behind the Bollinger Bands, a widely used technical momentum indicator, has shared his expertise to shed light on Bitcoin's potential next move. As investors eagerly await the long-anticipated crypto bull run, Bollinger's insights offer a glimpse into the possible future of the market.

Bitcoin's recent price drop has left many wondering if the cryptocurrency is poised for a rebound or if it will continue to stagnate. Bollinger's analysis suggests that the consolidation phase may be a sign of uncertainty among investors, leading to a period of sideways trading. However, he also notes that this phase could be a precursor to a significant move, either up or down.

As the market waits with bated breath for the next major move, investors are advised to exercise caution and keep a close eye on market trends. The crypto space is known for its volatility, and only time will tell if Bitcoin will break out of its consolidation phase and resume its upward trajectory. One thing is certain, however - the world is watching Bitcoin's every move, and the next development will have far-reaching implications for the entire cryptocurrency market.