One of the leading research firms in digital assets is trying to determine if Bitcoin (BTC), has more upside.
Swissblock claims that the BTC Fundamental Index is the answer to this question.
If you are wondering whether Bitcoin has still upside, this is the chart that you should see.
Fundamentals on the chain have returned to strength. It’s not just speculation.
Now, structural support is in place to sustain the upward trend. Higher.”
BTC has risen by nearly 10% to $119,154 as of the time this article was written.
Swissblock answers another burning question from traders: How close is the altseason?
Altcoins just emerged from a consolidation that lasted for several months. A classic five-wave movement is likely to be in progress, and Wave 5 could already be on the way.
Wave 5s are known to be fast-moving and vertical in nature. This could reflect 2017 or even 2021.
Goal: 1.79 Trillion – 3.37 Trillion
Altseason is here, but could it also be the final leg of the cycle peak?
Swissblock refers to “waves”, which are based on the Elliot Wave Theory. This is a framework for financial analysis that views markets moving according to recurrent wave patterns that are driven by investor psychology.
Please follow us at X@InvCryptoDaily
Subscribe for email alerts to avoid missing a beat
___________________
___________________
Featured Image: Shutterstock/ConceptCafe/Chuenmanuse
The post Crypto Analytics firm Swissblock points to further Bitcoin (BTC), Upside and says Altseason may already be here can be updated as new information becomes available.
