Despite Bitcoin and altcoins drifting sideways, a key signal suggests this could be a once-in-a-lifetime purchasing opportunity. On their daily Crypto broadcast, Ran and Sheldon discuss the indicators to watch and the investment plan to utilise.
After Bitcoin bounced and the long-awaited golden cross occurred, the market regained its confidence. Having a bullish reversal despite Bitcoin dominance increasing is beneficial for the market as a whole.
According to Sheldon, Bitcoin is on track to reach $50,000, and he expects other Altcoins to catch up to the world’s most popular cryptocurrency. After the recent pullback, Ran believes the market is still healthy and has positive momentum to expand on.
The Fear and Greed index, according to Ran, is one of the greatest indicators for trading because it reveals how the market swings after reaching particular levels and should be used in conjunction with technical indicators for greater accuracy.
The Fear and Greed index scale reading of 30 shows that the market is fearful, and it is the best period to begin building spot positions because the market has historically pumped after touching or moving below 30.
After the liquidation of high-Leverage derivatives, the market appears prepared to make a comeback, with Bitcoin futures open interest and finance rates at a one-month low. According to Ran, weak hands have been shaken out, and the market can now move organically to the upside.
Whale holdings have climbed by 103,600 BTC in the last three weeks, according to on-chain metrics. This is a natural phenomenon, according to Ran, because whales accumulate when the market is afraid and sell when the market is euphoric.
Being early in the internet and social media disruption is quite comparable to being early in the internet and social media disruption, which made many millions. Ran claims that this is a once-in-a-lifetime opportunity to make a difference.