Refrigid indicator: Correlation coefficient between Bitcoin and US dollar indicates at the beginning of a bull market rally

Refrigid indicator: Correlation coefficient between Bitcoin and US dollar indicates at the beginning of a bull market rally

Bitcoin DXY correlation coefficient: a revolutionary indicator of the Bitcoin course

A groundbreaking discovery has attracted the attention of the crypto community. An indicator called "Bitcoin Dxy correlation coefficient" was presented in a recently published newsletter from the renowned analyst cryptocon. This indicator measures the correlation between Bitcoin and the U.S. Dollar Index (DXY) and has proven to be extremely reliable when predicting Bitcoin course movements.

According to Cryptocon, the Bitcoin DXY correlation coefficient is one of the most interesting discoveries that it has made for a long time. In his newsletter, he explains the importance of this indicator and its effects on the future development of the Bitcoin course.

The analyst emphasizes that the correlation coefficient goes through three different phases during a market cycle. These phases are shown by different colors:

- purple: This is the first movement in the zone with low correlation, which takes place shortly before the bottom of the bear market.
- Red: The second movement in the low correlation zone marks the end of the bear market or the low point of the cycle.
-Green: After a while the key figure returns to the low correlation zone and signals the beginning of a real bull market rally.

These results are extremely important and indicate that Bitcoin may be at the beginning of a bull market rally. The Bitcoin DXY correlation coefficient does not seem to send false signals and therefore offers an extremely precise prediction of the market.

Cryptocon also emphasizes the influence of the US dollar on Bitcoin. The strength of the US dollar has a major impact on when exactly the Bitcoin course reaches its maximum. It is an additional complexity that illustrates how these two market forces work together.

The analyst makes comparisons with the cycle from 2013 and speculates about the possible future development of Bitcoin. He assumes that the upcoming market cycle could resemble a two-curve pattern. The first curve is expected to end early, possibly at some point in 2024, while the second curve will come later and end at the end of 2025.

In terms of the price target for the upcoming Bullenmarkt parabola, Cryptocon gives a personal forecast. He expects the Bitcoin course to be just above or below the all-time high. A secondary tip is expected between 90,000 and $ 130,000, which is his personal range and projection for the cycle.

Cryptocon closes the newsletter with the emphasis on the great opportunities for Bitcoin investors. Regardless of short -term development, the most promising things for Bitcoin are imminent. Possibly investors don't have to be as patient as they expect.

This groundbreaking discovery of the Bitcoin DXY correlation coefficient promises new opportunities for the prediction of the Bitcoin course. The precision of this indicator could help investors make well -founded decisions and fully exploit the potential of the bitcoin. The upcoming Bullenmarkt rallies could offer the chance to achieve considerable profits and to increase the success of Bitcoin investors.