Bitcoin's risk index surge hints at potential market volatility and correction.
Bitcoin's impressive gains trigger a surge in the altcoin market, with XRP reporting a 17% increase in 24 hours. Swissblock's Speedometer now indicates the start of an altcoin season.
Henrik Zeberg predicts Dogecoin could rise by 10,200%, using Fibonacci extensions and a "Rounding Bottom" pattern. He emphasizes bullish trends in historical cycles, with a potential target of $29. Key resistance is at $0.49, with significant long-term goals at $54.4064, based on market euphoria.
Bitfinex and Swissblock analysts discuss the reasons for Bitcoin's decline after its all-time high and the signs of a potential rise.
According to Swissblock, weaker U.S. retail sales and mild inflation data have catalyzed a new surge in the cryptocurrency market, with Bitcoin reaching $66K.
Swissblock's Bitcoin Fundamental Index (BFI) successfully predicted Bitcoin's price increase from $60,000 to $65,000, indicating its potential as a predictive tool for future cryptocurrency market movements.
Henrik Zeberg, a macroeconomist, predicted Bitcoin's recent surge, according to Swissblock indicator correlating fundamentals. The full article is on COINOTAG.
Bitcoin's on-chain metrics indicate a possible rebound after falling under $60,000, according to Swissblock's Bitcoin Fundamental Index. Analyzing liquidity, address activity, and mining, the index suggests increasing momentum for Bitcoin, and strategic investments by Bitcoin whales during the dip could solidify this recovery.
