Bitcoin is now again well above $50k and traders set their sights on new all-time high.
Our weekly questions to Hybrid Intelligence should help with identifying the wider trend for the whole market:
“The cryptocurrency Market Capitalization settled at 1665B USD at 12:00 PM UTC on Wednesday, March 10. Will the Market cap climb above 1789.9B USD (+7.5%) earlier than drop below 1540.1B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 88%
This is a very bullish indicator. It suggests that Hybrid Intelligence believes the overall crypto market cap will likely set a new all-time high before any meaningful correction.
But what will be the main driving force? Bitcoin or the alts?
Our other question to Hybrid Intelligence sheds light on this:
“Bitcoin crypto market share settled at 61.43% at 12:00 PM UTC on Wednesday, March 10. Will Bitcoin's market share climb above 62.66% (+2%) earlier than drop below 60.2% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 36%
This indicator suggests that BTC dominance is more likely to fall below 60.2%. That’s an important support level. BTC dominance in the 50s could signal the beginning of a new alt season, especially if the Bitcoin price would stabilize after months of strong growth.
Our weekly questions to Hybrid Intelligence should help with identifying the wider trend for the whole market:
“The cryptocurrency Market Capitalization settled at 1665B USD at 12:00 PM UTC on Wednesday, March 10. Will the Market cap climb above 1789.9B USD (+7.5%) earlier than drop below 1540.1B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 88%
This is a very bullish indicator. It suggests that Hybrid Intelligence believes the overall crypto market cap will likely set a new all-time high before any meaningful correction.
But what will be the main driving force? Bitcoin or the alts?
Our other question to Hybrid Intelligence sheds light on this:
“Bitcoin crypto market share settled at 61.43% at 12:00 PM UTC on Wednesday, March 10. Will Bitcoin's market share climb above 62.66% (+2%) earlier than drop below 60.2% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
-------------------------------------
Assurance: 36%
This indicator suggests that BTC dominance is more likely to fall below 60.2%. That’s an important support level. BTC dominance in the 50s could signal the beginning of a new alt season, especially if the Bitcoin price would stabilize after months of strong growth.