ilmscore | Bitcoin: Dubious Speculation

Bitcoin: Dubious Speculation

Published: 2024-02-28
Status: Analyzed

Predictions from this Video

Total: 6
Correct: 0
Incorrect: 0
Pending: 6
Prediction
Topic
Status
Bitcoin is likely to experience another 20-22% correction.
"we'll probably have another one [21% correction]"
BTC
Pending
If Bitcoin extends to 58k-60k, it is predicted to see a 20% correction down to the 48k-49k range, potentially in March.
"if we do extend a bit higher and and we get that 20% drop perhaps that is the area to look at that 48 to 49k... if it gets in a 58k and then it gets a larger drop... the 618 is around that 48 49k range... if we do extend above it and then get a sharper pullback sometime in March look for the 618 to get to get a 20% correction down to the 618 it would mean Bitcoin going up a little bit higher but not much"
BTC
Pending
Bitcoin is expected to experience a mean reversion pullback by summer 2024 after being extended, which will lead to significant weakness and lack of support for altcoins against Bitcoin.
"once the summer finally arrives... we get some type of you know some form of mean revers back down to where we normally are at this point in the cycle... if Bitcoin does get a larger correction... in say the summer the altcoins would likely show a lot of weakness"
BTC
Pending
Bitcoin dominance is predicted to reach 56%, potentially marking a temporary local high for Bitcoin, and could extend to 60%, signaling narrow market breadth and larger market flush-outs.
"I think 56% is that level by Bitcoin dominance that I've said could mark the end of a of the rally for at least some time... Bitcoin dominance going all the way to 60%"
Bitcoin Dominance
Pending
If the US unemployment rate rises above 4% in the next few months, it could trigger a significant pullback or 'scare' for Bitcoin and the broader crypto market, potentially followed by a temporary dip in unemployment before another rise.
"if you see the unemployment rate go above 4% sometime in the next few months you could get a larger pullback by Bitcoin... the labor market showing weakness... it could lead to a larger drop in the cryptoverse... you could get a situation where the unemployment rate prints in the 4% range you get some type of big scare by Bitcoin and then the unemployment rate comes back down for a while before then going back up"
Macroeconomics
Pending
A convergence of events in March, April, or May 2024 (ETH/BTC closing below 0.049, altcoin-Bitcoin pairs falling below 40%, gold closing above $2070, Fear and Greed Index reaching 90-100, and the FED cutting rates) is predicted to coincide with a local top for Bitcoin and potentially a larger crypto market drop.
"what if in March or April or May sometime the next few months we see e Bitcoin weekly closes below 04 9 we see all Bitcoin pairs go below 40%... we see gold above 2070 we see the Fe and greed index at 90 to 95 or 100 and we see the FED start to cut could it not be the same thing"
Crypto Market Sentiment
Pending