🔥 $BTC CHALLENGES APOCALYPTIC PREDICTIONS! 🚀 Analysis dismisses the "double top" and points to NEW HISTORICAL HIGHS! 📈
Crypto enthusiasts! 🎢 Bitcoin has surpassed 107,000 dollars and, against all doomsday predictions, a new analysis from Swissblock Technologies claims that the king of cryptocurrencies is not at risk of a feared "double top"! 🙅♂️ That means the bullish party is still intact! 🎉
There is a lot of "noise" out there about a possible "double top" while BTC struggles to reclaim its all-time high 🤯, but Swissblock's Fundamental Index of #bitcoin (BFI) is ignoring those negative vibes. Why? Because it shows no "signs of bearish divergence" and, despite being less than 5,000 dollars from its record, Bitcoin is not going to take its foot off the gas in its quest for new prices! 🚀✨
The BFI, which acts like a thermometer for the strength of Bitcoin's trend, has remained neutral even during the pullbacks in February and March. If BTC were to crash now, the BFI would already be sounding the alarm, but it is not! The "on-chain" strength is "intact". 😎
Are the statistics with the bulls?
Well, yes! Most crypto market experts agree: Bitcoin's price discovery will return sooner rather than later. There is even talk of a target of 116,000 dollars for this very week! 🎯 An economist specialized in the network, Timothy Peterson, goes further and predicts a trip to at least 115,000 dollars by the end of June! 🗓️
Historically, every time #BTC has approached less than 10% of its all-time high (something that has happened almost 300 times since 2015!), in 50 days, 98% of the time it has reached a new high. The odds are in favor of the bulls! 🐂 Although the post-2020 gains have been more "modest" (an average of 8%), that would still give us a target of 125,000 dollars.💰
🤔 What could stop Bitcoin from reaching new all-time highs?
