Summary:
• Bitcoin has been displaying a bullish trend since reaching $24,000 last week.
• Fetch.ai (FET) has seen a 300% increase in value year-to-date due to its open, decentralized machine learning network and cryptographic economy.
• CrediBull believes an ATH by the end of this year is highly plausible if the Bitcoin price follows the footsteps of Fetch.ai.
Bitcoin’s Bullish Trend
The Bitcoin price has been displaying a bullish trend, characterized by higher highs and higher lows, since reaching $24,000 last week. Despite current market indicators suggesting neutrality, potential volatility could drive the price to a new all-time high. The bullish sentiment is on the brink of overtaking the weekly bearish momentum, should the upward trend persist in the coming weeks. Additionally, the cryptocurrency market has recovered to pre-FTX levels following a recovery rally in January.
Explosive Growth of Fetch (FET)
Fetch.ai (FET) has seen a remarkable 300% increase in value year-to-date, according to recent crypto market data. Founded in 2017, Fetch.AI is an AI-focused organization that has developed an open, decentralized machine learning network with a cryptographic economy. The network has made significant advancements, including inter-blockchain communication capabilities with the Capricorn upgrade which has drawn significant attention from both the cryptocurrency community and institutional investors leading to an increase in its price since November/December of last year..
Possible BTC Price Rally
A crypto analyst CrediBull thinks an ATH (all time high) by the end of this year is highly plausible if Bitcoin follows Fetch’s footsteps and continues its current upward trend into February and beyond.. However, he indicated that before this happens there might be some correction in Bitcoin prices which could lead to some drops like those seen during mid December 2020 when it went below $19k for some time period after peaking around $20k earlier that month..
Market Conditions for BTC
The Bitcoin market is at a crucial point after trading more than five months below its 200D MA (Moving Average). With its 50 and 200WMA glaring at possible dreaded death cross formation , bulls must push over $25k for invalidating any chance of crash or market correction .
Conclusion
In conclusion , 2021 looks set up to be another great year for cryptocurrencies like Bitcoin , Ethereum , Litecoin etc as investors are trying their best to keep pushing prices above their historical highs . Although there may be some corrections along way but if things go as predicted then we can expect new all time highs sooner rather than later ..