Expert Names Predict a Spectacular Rise of 350% for SHIB, XRP, SOL, ADA, AVAX, DOT
Glassnode's founders say that the crypto market is preparing itself for a big rise. Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on social media platform X, suggested that the crypto bull market is still ongoing.
Market experts reminded that the crypto market witnessed a major correction in 2021, which they believe represents the 4th wave in the market cycle. Compared to current market conditions characterized by a similar significant decline, the co-founders expect a major rise in assets in the near term.
Based on their proprietary index and Fibonacci levels, Glassnodeâs co-founders are predicting a massive 350% explosion from current market levels.
This optimistic forecast comes at a time when the crypto market is witnessing increased volatility and uncertainty following the recent Bitcoin halving, where mining rewards were halved. It seems like most investors and traders are currently looking for any signs of an impending price explosion.
At the time of writing, the price of BTC was trading around $66,826, down approximately 9.7% from its all-time high of $73,737. However, there was a 2.5 percent increase in the last 24 hours. The broader crypto market is also in the green. According to Coingecko's data, today the global market value stands at $2.44 trillion, with a modest increase of 2.7% in the last 24 hours.
Market watchers still haven't answered the question: âIs the fourth Bitcoin halving priced in?â No one knows what will happen to the Bitcoin price after the halving, but we do know how previous events turned out. Historically, the Bitcoin price has experienced a significant increase following each block reward halving event. But this usually doesn't happen right away.
