Transferring his comments on the market, Scaramucci thinks that we have survived most of the bear market in crypto. Stating that a decrease is possible in Bitcoin again, Scaramucci stated that he believes this decrease will be in the 17 thousand 500 band at most.

Scaramucci: Leveraged Trades Removed from the System

Scaramucci, who puts a fair price on Bitcoin according to his own algorithms, said that the fair price is 40 thousand dollars. He also stated that this algorithm is based on wallet volume, use cases, and the growth of wallets. However, he does not think that the price of Bitcoin will suddenly increase, since the macroeconomic situation and cryptocurrencies are “volatile assets”. He said that these assets are assets with high volatility, so people should look at it from a 4 to 5 year perspective.

Anthony Scaramucci

Regarding the widespread collapse of the Terra (LUNA) ecosystem, lending firm Celsius, brokerage firm Voyager Digital, and hedge fund Three Arrows Capital in public, Scaramucci said, “We believe leveraged transactions have been wiped out.” said.

Critical Signal for Bitcoin and Altcoins

Anonymous cryptocurrency analyst TechDev explained to his nearly 400,000 Twitter followers the importance of 1-year HODL waves, a metric that tracks Bitcoin, which has been dormant for more than a year. HODL waves gave rally signals in the previous three examples, when BTC peaked in 2012, 2015 and 2019, and the rally signals it gave came true one by one. “1 year+ HODL wave 200-day exchange rate peaks above 0.1. 4th signal in 11 years.” He drew attention to the importance of the indicator.

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The analyst wraps up his analysis for Bitcoin by comparing it to the top 50 Dow Jones stocks dating back to 2012 for the relative strength index (RSI). RSI is an indicator used by traders and investors to determine the direction of an asset's trend. A falling RSI signals a strong bearish, while the opposite signals bullishness. TechDev shared a chart showing similar up and down price movements while highlighting the key periods in 2012, 2016, 2020 and this year, “Bitcoin and Dow Jones 50-month RSI interaction.” downgrade.

Looking at how altcoins have performed against the US dollar index (DXY) for nearly a decade, TechDev made the following analysis, drawing the Fibonacci extension lines that suggest altcoins could rise higher if DXY falters or falls:

   “Long-term TL (time chart) + previous ATH (all-time high) + altcoins bouncing from 0.272. Long-term TL + local TL + DXY at 1.414 after parabolic move. Possible parabola appearance after 5 touchpoints and 1,414 extensions to 2 TL. DXY collapse. We are currently waiting for more confirmations for the bounce of altcoins."