Bitcoin (BTC) unlikely to exceed $46,000 until 2024, aligning with its historical four-year cycle patterns.
The digital currency world is witnessing a remarkable ascent of Fetch.ai (FET), an altcoin project rooted in artificial intelligence (AI). Renowned crypto analyst Rekt Capital recently shared insights with his substantial following, indicating that FET is edging closer to surpassing its previous peak values. This uptrend follows a flawless reevaluation of vital support territories.
Fetch.ai has executed a flawless retest of the pivotal $0.59 level, laying the groundwork for its potential rally. The next significant milestone is converting the $0.73 price point into a robust support zone, a move that could propel FET to new uncharted highs. The altcoin’s previous record was set in September 2021 at $1.17. As of now, FET’s trading value hovers around $0.77, reflecting a notable 10.6% increase over the past day.
Shifting focus to Bitcoin (BTC), Rekt Capital anticipates that the premier cryptocurrency is unlikely to breach the $46,000 mark before 2024. This projection is based on Bitcoin’s historical four-year cycle trends, which have consistently shown a resistance level that the digital currency has not overcome in a pre-halving year. Presently, Bitcoin trades at approximately $43,939, exhibiting a 3.5% rise in the past 24 hours.
In a broader perspective, the total market capitalization for altcoins, excluding the top 10 by market cap, is undergoing a pivotal retest. This ongoing process is crucial in determining the future direction of these alternative digital assets
The crypto landscape is buzzing with the potential breakout of Fetch.ai, as it navigates critical price thresholds. Simultaneously, Bitcoin’s expected performance into 2024 and the ongoing retests in the altcoin market are shaping the dynamics of the cryptocurrency sector. As Fetch.ai inches closer to new highs, it exemplifies the burgeoning intersection of AI technology and blockchain, heralding a new epoch in digital currency innovation.
