Swissblock, a crypto analytics firm, believes Bitcoin (BTC) has more room to grow, and altcoins might be on the verge of a major rally.
Bitcoin’s Bullish Fundamentals
According to Swissblock’s analysis, Bitcoin’s on-chain fundamentals are strong, suggesting sustained upward momentum. They claim this isn’t just speculation; the current upward trend is structurally supported. At the time of writing, BTC was trading around $119,154, up almost 10% in the past week.
Altseason Incoming?
Swissblock also predicts a potential altcoin boom, possibly already underway. They suggest the altcoin market has just broken out of a long period of consolidation and is showing signs of a five-wave pattern (based on Elliott Wave Theory). Historically, the fifth wave in such patterns is fast and steep. This could mean altcoins could see a massive surge, potentially reaching a total market cap between $1.79 trillion and $3.37 trillion. However, they caution that this could also be the final push before the market peaks.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
/p>