This week, Bitcoin finally broke $50k, an important psychological level, gaining about 15% in the past seven days.
Often during Bitcoin’s strong rallies alts lag behind. That was the case now. For example, ETH and ADA have gained just about 5% during the same period.
We’ve posted the following questions to Hybrid Intelligence to check what’s next for the market:
“Bitcoin crypto market share settled at 63.11% at 10:00 AM UTC on Wednesday, February 17. Will Bitcoin's market share climb above 64.37% (+2%) earlier than drop below 61.85% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 21%
This means that Hybrid Intelligence expects BTC dominance to decline after its recent surge.
Another question was about the overall market capitalization:
“The cryptocurrency Market Capitalization settled at 1519.5B USD at 10:00 AM UTC on Wednesday, February 17. Will the Market cap climb above 1633.5B USD (+7.5%) earlier than drop below 1405.5B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 87%
This is a strong bullish signal, indicating that Hybrid Intelligence expects the market to increase further.
Together these two indicators suggest that in the short term altcoins will catch up with Bitcoin.
Often during Bitcoin’s strong rallies alts lag behind. That was the case now. For example, ETH and ADA have gained just about 5% during the same period.
We’ve posted the following questions to Hybrid Intelligence to check what’s next for the market:
“Bitcoin crypto market share settled at 63.11% at 10:00 AM UTC on Wednesday, February 17. Will Bitcoin's market share climb above 64.37% (+2%) earlier than drop below 61.85% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 21%
This means that Hybrid Intelligence expects BTC dominance to decline after its recent surge.
Another question was about the overall market capitalization:
“The cryptocurrency Market Capitalization settled at 1519.5B USD at 10:00 AM UTC on Wednesday, February 17. Will the Market cap climb above 1633.5B USD (+7.5%) earlier than drop below 1405.5B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 87%
This is a strong bullish signal, indicating that Hybrid Intelligence expects the market to increase further.
Together these two indicators suggest that in the short term altcoins will catch up with Bitcoin.