The most important crypto analyst of Real Vision says it is difficult to be anything but bullish towards Bitcoin (BTC), where a catalyst is identified that the crypto king could let fly later this year.
In a new thread, Crypto -Strategist Jamie Coutts tells His 36,000 followers on the social media platform X that a recent move in the US Dollar Index (DXY) is traditionally a rally prior to the Digital Activum flagship.
“If you look at this recent step in the DXY through a historic lens, it is a challenge to be anything but bullish. I ran a signal screen for three -day negative movements of more than -2% and -2.5% and discovered that they have all taken place at Bitcoin -hole market troughs (bending points) or Middle cycle Bullmarkts (trend continuations).
As always with Bitcoin, the statistical significance of signals in the medium term is seriously limited by the data history (not enough), but this is an objective data point to keep in mind. “
According to Coutts, there were eight occasions in 2013 in which the DXY fell by at least 2.5%. BTC then went up every time with an average return of 37% in 90 days.
When the DXY fell less than 2% during the same time frame, the data shows 18 authorities, 17 of which subsequently saw BTC climbing with an average return of 31.6% in 90 days.
Coutts continues public participation That the stage is set for BTC to shoot up within a few months.
“This week it all had it. The Dxy saw its 4th largest negative three-day movement-massal liquidity positive. Just as Bitcoin squeezed and had the worst February in a decade. In the meantime, the Top 200 Crypto index has poured again in Altcoin Land. The graph shows that 365 days of new lows were 47%, a characteristic of capitulation in a bull’s cycle. The stage is set for a new highest high high in Bitcoin and top 200 aggregated market capitalization by May. “
Bitcoin acts for $ 87,881 at the time of writing, a fractional increase in the day.
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