Elon Musk has brought Bitcoin back into the spotlight by adding it to his Twitter bio last Friday and sending it to 38k. "In retrospect, it was inevitable," he added in a tweet.
Since then the price has gone down over the weekend. But this week Bitcoin is already up +10% amidst relatively low volatility.
To check if the rally will continue we’ve asked Hybrid Intelligence our regular weekly question about BTC dominance:
“Bitcoin crypto market share settled at 62.81% at 12:00 PM UTC on Wednesday, February 3. Will Bitcoin's market share climb above 64.07% (+2%) earlier than drop below 61.55% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 78%
This means that Hybrid Intelligence strongly believes that Bitcoin’s market share will go up. The current level looks like a solid support since October.
Another question added a separate dimension to it:
“The cryptocurrency Market Capitalization settled at 1066.83B USD at 12:00 PM UTC on Wednesday, February 3. Will the Market cap climb above 1146.8B USD (+7.5%) earlier than drop below 986.8B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 82%
Hybrid Intelligence is strongly bullish on the overall crypto market, expecting it to go up before any meaningful correction.
Together, these indicators are bullish for Bitcoin.
Since then the price has gone down over the weekend. But this week Bitcoin is already up +10% amidst relatively low volatility.
To check if the rally will continue we’ve asked Hybrid Intelligence our regular weekly question about BTC dominance:
“Bitcoin crypto market share settled at 62.81% at 12:00 PM UTC on Wednesday, February 3. Will Bitcoin's market share climb above 64.07% (+2%) earlier than drop below 61.55% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 78%
This means that Hybrid Intelligence strongly believes that Bitcoin’s market share will go up. The current level looks like a solid support since October.
Another question added a separate dimension to it:
“The cryptocurrency Market Capitalization settled at 1066.83B USD at 12:00 PM UTC on Wednesday, February 3. Will the Market cap climb above 1146.8B USD (+7.5%) earlier than drop below 986.8B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 82%
Hybrid Intelligence is strongly bullish on the overall crypto market, expecting it to go up before any meaningful correction.
Together, these indicators are bullish for Bitcoin.