Blockchain

Certain events have been touted as being able to impact the XRP price significantly. Some of these events already seem to be happening, raising the hopes of the XRP community that the token could indeed hit $1 before the year runs out. 

Ripple Expands To Singapore

In a statement released on October 3, Ripple announced that its subsidiary had secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This announcement comes four months after the company received its in-principle approval from the regulator. 

Following this announcement, Ripple is fully licensed to provide “regulated digital payment token services in Singapore.” Ripple’s CEO Brad Garlinghouse also confirmed this development on his X (formerly Twitter) platform. 

With Singapore already housing Ripple’s Asia Pacific headquarters, this move undoubtedly provides the company with momentum to continue expanding to countries in the region (which the company considers one of its fastest growing regions) for the adoption of its “crypto-enabled payments solutions.”

Ripple is already enjoying significant success in Asia, with banks in countries like Japan, China, South Korea, Philippines, Indonesia, and Vietnam adopting the company’s cross-border payment service. Specifically, Japan is believed to have contributed significantly to the trading volume in the XRP ecosystem, with the token enjoying massive adoption among locals. 

Ripple Secures Another Victory Against The SEC

Meanwhile, the crypto firm has more reason to celebrate following another significant victory in its ongoing legal battle against the US Securities and Exchange Commission (SEC). In an order given on October 3, Judge Analisa Torres denied the SEC’s motion for certifications of its interlocutory appeal.

As to the reason for the denial, she noted that the SEC “failed to meet its burden to show that such an appeal would materially advance the ultimate termination of the litigation.” Instead, she reasoned that granting the application could further prolong the action as the interlocutory appeal could open the door to other appeals from a dissatisfied party. 

Instead, she stated that the litigation will likely be “expeditiously advanced” if they advance to trial and then appeals come after. That way, the appellate court can review the case based on a complete record rather than considering disjointed legal and factual issues. In line with this, she set April 23, 2024, as when the trial is set to commence. 

XRP Price Looks Good As Ripple Enters Top 100 Fintech Of 2023

Ripple’s President Monica Lang recently reiterated the company’s intention to continue to expand globally in its bid to disrupt the global financial architecture. The company’s efforts have not gone unnoticed as it recently announced that CB Insights ‘Fintech 100’ for 2023.

This recognition is an annual list compiled by private equity company CB Insights and comprises the “100 most promising private fintech companies in the world.”

The XRP price has reacted positively to these developments as it is currently trading at $0.5317, up about 4% in the last 24 hours, according to data from Coinmarketcap.

Cardano (ADA) saw its market structure undergo a significant bullish transformation following a series of recent gains. This rally, which began in late September, has propelled ADA’s price up by more than 10% in just one week, measured from its lowest point to the recent peak. Although ADA experienced a retracement in the past few hours, it has managed to retain its overall bullish outlook.

The initial signs weren’t entirely encouraging, as evidence from volume indicators hinted at dwindling buying pressure. Nevertheless, the bulls rallied with determination, successfully defending the critical $0.24 level. 

As of the latest data, ADA is priced at $0.254 on CoinGecko, representing a marginal 3.1% decline over the past 24 hours. However, over the course of the last seven days, it has recorded a noteworthy gain of 5%.

ADA Technical Indicators

Analysts closely monitoring ADA’s price action have pointed toward a potential move to a range high of $0.28. For traders eyeing long positions, a lower timeframe bullish structure break could provide an entry point, targeting the range’s high. 

The Relative Strength Index (RSI) has also made a promising climb back above the neutral 50 mark, while the On-Balance Volume (OBV) exhibits an encouraging uptick. The big question now looms: will the existing demand be sufficient to fuel a sustained rally? Whether this demand will be sufficient to fuel a sustained rally remains a subject of speculation.

Cardano Potential Amidst Shifting Market Trends

Meanwhile, Cardano has attracted the attention of a separate analysis as one of the altcoins with the potential to capitalize on short profit windows. This opportunity emerges in the wake of Bitcoin’s recent surge, which catapulted it above the $28,000 mark. Analysis suggests that ADA could possibly decouple from broader market trends, presenting traders with a unique opportunity to capitalize on market divergences and seek profit.

ADA has exhibited resilience and determination in the face of fluctuating market dynamics. While initial signs pointed to a faltering of buying pressure, ADA has managed to pivot, defending the $0.24 level and setting its sights on the $0.28 mark. 

The RSI and OBV indicators provide further encouragement to the bullish outlook. Moreover, the potential for ADA to break away from the larger market trends presents traders with an intriguing chance to capitalize on short-term profit opportunities. With the crypto market constantly evolving, Cardano’s resilience and ability to adapt to changing conditions make it an interesting asset to watch in the coming weeks.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from iStock

An inverse correlation between the crypto market and the DXY has often helped to signal when a bull rally is on the horizon. One of the most notable instances of this happened 9 years ago, and since then, the formation has not returned, until now, signaling a massive price surge in October.

DXY Readies To Clock 12th Consecutive Candles

In an X (formerly Twitter) post, crypto analyst TheCryptoMann has revealed an important formation in the DXY. The DXY is the United States Dollar Index which measures the value of the dollar to other major (6) currencies around the world.

Now, since Bitcoin is often touted as an alternate and better currency to the likes of the US dollar, there is often some competition between them leading to an inverse correlation over the years. This is why this DXY formation is important.

As TheCryptoMann points out, the DXY is headed toward a 12th consecutive green candle which is bullish for the crypto market. This is because the last time that this happened was in 2014, and the results were very bullish for crypto.

The analyst explains that when this happened in 2014, the DXY had fallen 8%. Crypto had then gone in the opposite direction, mounting a rather impressive rally. A look at the chart shows that in the year 2014, the crypto market went from $5.4 billion to over $8.2 billion, an over 50% surge in price.

A Bullish Time For Crypto

TheCryptoMann likens the current movement to what took place in 2014 and actually expects this movement to repeat once more. As he explains, the incoming correction in the DXY will see the crypto market explode as it did 9 years ago.

He also points out that “the DXY is also being rejected from the 0.5 FIB Retracement level from its most recent local highs and lows!”

He further added:

There is a clear inverse correlation between the DXY and the cryptocurrency market. So over the next month, we’re about to see some major price movements, so eyes on the market.

Another analyst Cryptoinsighuk also seems to share the views of TheCryptoMann as he also believes there is correction coming for the DXY. “Also, whilst sentiment is this bad we are having the SBF trial. This is negative towards Crypto, tells me the bottom could be very close in this move,” the analyst added.

Great thoughts.

I also have some further technicals to add to this later. Just waiting for their confirmation.

I think the $DXY will soon turnover.

Also, whilst sentiment is this bad we are having the SBF trial. This is negative towards Crypto, tells me the bottom could be… https://t.co/QK13cnvOka

— Cryptoinsightuk (@Cryptoinsightuk) October 4, 2023

If TheCryptoMann’s forecast is correct, then the crypto market could be getting ready for a massive move to the upside. A similar rally would see the total market cap go from $1.065 trillion currently to over $1.5 trillion, signaling a bullish end to the year 2023.

The financial world is abuzz with speculations on the resilience of cryptocurrencies amidst potential global financial upheavals and a looming recession in the United States. XRP, with its unique standing, has become the centerpiece of these discussions, following a series of comments and analyses from renowned crypto analyst Egrag Crypto.

XRP Price Amid A 50% Stock Price Crash

On X (formerly Twitter), Egrag took a comprehensive look at the six-month chart of the XRP price, presenting two scenarios that couldn’t be more different: a crash to $0.017 and a rally to $27.

The analyst emphasized XRP’s pioneering nature due to the remarkable degree of legal clarity it offers, setting it apart from other digital assets. “The current state of XRP offers a remarkable degree of legal clarity, making it a pioneering digital asset in terms of regulatory acknowledgment,” Egrag stated.

This legal acknowledgment, combined with its designed role to simplify cross-border payment solutions, strengthens the case for XRP to potentially rise to a $27 price target, Egrag claims. But his analysis wasn’t purely optimistic. He alerted followers to looming shadows in the broader financial spectrum.

A significant number of technical analysts have forecasted a drastic 40%-50% downturn in global equity and stock markets. Egrag pondered the implications of such a downturn on cryptocurrencies, particularly XRP. He shared the following chart and warned of a potential sharp XRP price crash:

Under such circumstances, a measured move of 0.017c becomes a pertinent consideration. I find myself somewhat perplexed by the dichotomy presented by certain technical analysts who foresee a collapse in traditional markets while advocating for crypto to adhere to its four-year cycle.

He further remarked that “it’s imperative to maintain a consistent and non-contradictory thesis when assessing these scenarios,” highlighting the inconsistency of predicting both a market collapse and a steady crypto four-year cycle.

Community’s Mixed Responses

Feedback on Egrag’s analysis was multifaceted. @300Mill300, a prominent voice in the crypto space, extrapolated from Egrag’s initial analysis and offered a chart that was bullish for XRP. He projected a rally to $1.15 by early 2024, followed by a brief retraction to $0.79, and a subsequent bullish surge to reach $1.40 by the close of 2024.

However, the sentiment wasn’t unanimously optimistic. Rainmaker, a crypto aficionado with nearly a decade’s experience, struck a cautionary note. He predicted a pronounced “wash out” preceding each Bitcoin halving event, pushing the XRP price down, possibly to the mid $0.20s.

Responding to this, Egrag showcased his balanced stance. While agreeing with Rainmaker about the potential drag of macroeconomic elements on XRP, he remained bullish about XRP’s intrinsic strengths. He noted, “I think the general macro will drag it down but other than that it is solid like a rock.”

Stepping into the discussion, Analyst Ata Yurt had a different take. He expressed skepticism about XRP achieving the mentioned price points, stating, “At $0.017 there would be no sellers nor buyers… At $27, there will be no buyers either apart from a small group of FOMO orders, majority will FOMO in at $3 or $5 as those are the expected levels considering previous ATH.”

Yurt proposed a more pragmatic approach, suggesting a blend of technical analysis and market psychology. He believes that the $5 mark for XRP is more attainable, urging the community to consider a linear chart for assessment.

Egrag, not one to step back from a discussion, retorted with a thought-provoking question, “Good idea but what if the equity and stock markets crashed 40-50%? Then what?” Yurt countered by estimating the potential fall of Bitcoin in such a scenario, speculating that if Bitcoin were to lag behind and drop by 60%, XRP, in relation to BTC, might settle around the $0.22-$0.25 range, a figure he deemed more realistic than the prediction of Egrag at $0.017.

The Bullish Case: XRP To $27?

Egrag recently took to social media, highlighting a potential roadmap for XRP’s ambitious journey to $27 through his interpretation of the “XRP ATLAS LINE”.

Egrag predicts a near-term positive momentum that could push XRP into the $1.3-$1.5 zone. However, the digital currency might not stay there long, as he anticipates a dip back to the $0.55 region, a crucial breakout retest. Once this phase passes, he sees a dynamic resurgence propelling XRP to its previous highs of $2.8-$3.0.

But that’s not the ceiling. Egrag envisions a more aggressive leap into the $13-$15 bracket, although he also foresees a significant sell-off around this price point. His analysis then steers back to a reconnection with earlier levels around $2.8-$3.0 before finally culminating at the coveted $27 mark.

At press time, XRP traded at $0.5327.

Dogecoin (DOGE), the notoriously popular meme-inspired cryptocurrency, is facing a turbulent period that has left investors and enthusiasts pondering its fate. The central query echoing through the crypto community is a haunting one: Is Dogecoin destined for obscurity?

The decline in Dogecoin’s value can be attributed to a confluence of factors, with the broader cryptocurrency market’s downturn chief among them. This overall slump has eroded confidence in the crypto sphere, and Dogecoin hasn’t been spared from the pessimism. 

Over the past year, Dogecoin’s trajectory has been predominantly bearish, marked by occasional minor price surges that were unfortunately insufficient to counter the prevailing bearish sentiment.

Market Downturn And Dogecoin’s Bearish Stint

In a sobering turn of events, October witnessed Dogecoin’s price chart painting a bearish engulfing candlestick. This ominous pattern effectively wiped out gains from the previous period, signaling a somber outlook. Currently, DOGE is teetering slightly above the $0.060 horizontal threshold, reflecting the bearish undertones that have gripped the coin’s fortunes.

The CoinGecko listing reports DOGE trading at $0.061033, marking a 1.6% decrease over the last 24 hours, and a modest 0.8% gain over the past seven days. 

One indicator that underscores Dogecoin’s troubled waters is the Relative Strength Index (RSI). The RSI is a metric used to gauge the momentum of a cryptocurrency’s price movements. In this context, readings above 50 and an upward trend suggest that bulls hold the upper hand, while readings below 50 indicate the opposite—bearish sentiments are in play. 

Unfortunately for Dogecoin enthusiasts, DOGE’s RSI recently faced rejection at the 50 mark and is on a downward trajectory, a telltale sign of a bearish trend in Dogecoin’s price.

It’s worth noting, however, that amidst the gloom, an ascending support trendline in the RSI remains intact. This could hint at a glimmer of hope for Dogecoin, though the road ahead remains uncertain.

Global Market Worries

Dogecoin’s struggles are not isolated; major cryptocurrencies across the board are grappling with similar challenges. A key concern that has gripped the market is the specter of higher interest rates potentially stalling the housing sector and pushing the global economy toward a recession. This has had a notable impact on the crypto landscape, resulting in a 3% decrease in the global cryptocurrency market capitalization, which currently stands at $1.07 trillion.

Dogecoin’s recent slump has left many questioning its viability and future prospects. While the crypto market as a whole navigates choppy waters, Dogecoin finds itself caught in the undertow of uncertainty. Whether it can rise above these challenges and regain its former glory remains a question that only time will answer.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from

A detailed analysis by well-regarded crypto analyst Rekt Capital has spotlighted a recurring bearish fractal in the historical price data of Bitcoin, raising prospects of a potential crash below the $20,000 mark. Notoriously seen in 2019 and 2022, this pattern seems to be reemerging in the current 2023 market.

For those unfamiliar, the fractal indicator identifies potential turning points on a price chart by highlighting repetitive price patterns. In simple terms, a bearish fractal suggests a potential decline in price. Such a pattern materializes when there’s a peak price with two consecutively lower high bars/candles on its flanks. An up arrow typically marks a bearish fractal, indicating the potential for price descent.

Here’s Why Bitcoin Price Could Drop Below $20,000

The essence of this bearish pattern begins with a double top. Contrary to expectations, this double top doesn’t validate with a dip below a significant support level. Instead, the price typically sees a relief rally, forming a lower high, only to crash below the previously mentioned support.

This support then morphs into a new resistance level, driving the price further down. This sequence was observed in both 2019 and 2022, and the current market scenario in 2023 mirrors the initial stages of this pattern. Rekt Capital suggests that the market is potentially in the middle of this bearish fractal, with uncertainty around where the relief rally might conclude.

From the beginning of April to the end of August, BTC formed a double-top pattern in the weekly chart. However, the Bitcoin price held above the neckline at around $26,000. Then, in mid-August, BTC started its relief rally which took the price up to $28,600. “We’re probably in the A to B [phase of the] bearish fractal,” the analyst added.

Diving deeper into potential scenarios, the analyst believes Bitcoin’s price could rally up to approximately $29,000 before experiencing further declines. Some key events to watch for include potential overextensions beyond the bull market support band. If Bitcoin fails to retest and maintain this band as support after breaking out, the bearish fractal remains valid.

Another important point to monitor is the revisit of the lower high resistance. Even if the price wicks beyond this resistance, a subsequent rejection would keep the bearish outlook intact. There are, however, criteria that could invalidate this bearish perspective: the bull market support band (blue) consistently holds as support, a weekly close beyond the lower high resistance ($28,000), and breaking past the $31,000 yearly highs.

On the topic of other technical indicators, Rekt Capital highlighted that Bitcoin has recently rallied to the 200-week MA. This moving average (MA), however, seems to be acting as a current resistance. Additionally, the 200-week MA aligns with the lower high resistance, presenting a crucial juncture for Bitcoin’s price in the near future. Despite his macro bullish stance on Bitcoin, Rekt Capital cautions that Bitcoin has yet to overcome the $28,000 lower high resistance in the 1-week chart.

On the daily chart, Bitcoin is hovering slightly above the 38.2% Fibonacci retracement mark. For Bitcoin to avoid a descent beneath the established trend line (represented in black), it’s crucial for it to maintain a position above $27,372.

Cardano’s price started a fresh decline below $0.264. ADA is struggling and might accelerate lower if there is a close below the $0.250 support.

ADA price is gaining bearish momentum below the $0.265 level against the US dollar.
The price is trading above $0.250 and the 100 simple moving average (4 hours).
There was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA/USD pair (data source from Kraken).
The pair must stay above the $0.250 support to start a fresh increase in the near term.

Cardano Price Trims Gains

In the past few days, Cardano’s price climbed higher above the $0.255 level. The price was able to clear the $0.265 resistance, but the upsides were limited. The price traded as high as $0.2741 and recently corrected lower, like Bitcoin and Ethereum.

There was a drop below the $0.265 support level. Besides, there was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA/USD pair.

Cardano is now testing the 61.8% Fib retracement level of the upward move from the $0.2426 swing low to the $0.2741 high. However, ADA is still above $0.250 and the 100 simple moving average (4 hours).

Source: ADAUSD on TradingView.com

On the upside, immediate resistance is near the $0.258 zone. The first major resistance is forming near the $0.265 zone. The next key resistance might be $0.274. If there is a close above the $0.274 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.300 resistance zone.

More Losses in ADA?

If Cardano’s price fails to climb above the $0.265 resistance level, it could continue to move down. Immediate support on the downside is near the $0.250 level.

The next major support is near the $0.242 level. A downside break below the $0.242 level could open the doors for a sharp fresh decline toward $0.220. The next major support is near the $0.200 level.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.250, $0.242, and $0.220.

Major Resistance Levels – $0.265, $0.274, and $0.300.

Ethereum price trimmed all gains and revisited $1,580 against the US dollar. ETH could continue to move down if it settles below the $1,600 support.

Ethereum started a fresh decline below the $1,650 support.
The price is trading below $1,665 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance near $1,645 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it clears the $1,650 and $1,665 resistance levels.

Ethereum Price Revisits Support

Ethereum’s price failed to stay above the $1,665 level and moved into a bearish zone. ETH extended its decline below the $1,650 level, like Bitcoin.

The decline was such that the price even spiked below the $1,600 on Kraken. The price retested the key support at $1,585. A low was formed near $1,585 and the price is now attempting a fresh increase. There was a move above the $1,620 level.

Ether climbed above the 23.6% Fib retracement level of the downward move from the $1,743 swing high to the $1,585 low. Ethereum is now trading below $1,665 and the 100-hourly Simple Moving Average.

On the upside, the price might face resistance near the $1,650 level. There is also a key bearish trend line forming with resistance near $1,645 on the hourly chart of ETH/USD. The next major resistance is $1,665 and the 100-hourly Simple Moving Average.

Source: ETHUSD on TradingView.com

The 50% Fib retracement level of the downward move from the $1,743 swing high to the $1,585 low is also near the $1,665 level. A clear move above the $1,665 resistance zone could set the pace for a fresh increase. In the stated case, the price could visit the $1,700 resistance. The next key resistance might be $1,750. Any more gains might open the doors for a move toward $1,820.

More Losses in ETH?

If Ethereum fails to clear the $1,665 resistance, it could continue to move down. Initial support on the downside is near the $1,620 level. The next key support is $1,600.

A downside break below the $1,600 support might start another strong bearish wave. In the stated case, the price could even trade below the $1,585 level. In the stated case, Ether could visit the $1,540 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,600

Major Resistance Level – $1,665

Bitcoin price started a downside correction below $28,000. BTC is now testing the $27,200 support and might start a fresh increase in the near term.

Bitcoin is moving lower below the $28,000 and $27,800 support levels.
The price is trading below $27,500 and the 100 hourly Simple moving average.
There is a short-term bearish trend line forming with resistance near $27,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start another increase unless there is a move below the $26,650 support.

Bitcoin Price Revisits Support

Bitcoin price failed to continue higher above the $28,500 resistance. BTC formed a short-term top and recently started a downside correction below the $28,000 level.

There was a move below the $27,500 level and the 100 hourly Simple moving average. The price is now testing the $27,200 support zone. A low is formed near $27,189 and the price is now consolidating losses, with very few signs of more losses.

Bitcoin is now trading below $27,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $27,500 level. There is also a short-term bearish trend line forming with resistance near $27,500 on the hourly chart of the BTC/USD pair. It is close to the 23.6% Fib retracement level of the recent decline from the $28,565 swing high to the $27,189 low.

Source: BTCUSD on TradingView.com

The next key resistance could be near the $27,880 level or the 50% Fib retracement level of the recent decline from the $28,565 swing high to the $27,189 low. A close above the $27,880 resistance could start another increase. In the stated case, the price could climb toward the $28,500 resistance. Any more gains might call for a move toward the $29,200 level.

More Losses In BTC?

If Bitcoin fails to continue higher above the $27,500 resistance, there could be more downsides. Immediate support on the downside is near the $27,200 level.

The next major support is near the $27,000 level. The main support is now near $26,800. A downside break and close below the $26,800 level might send the price toward $26,200. The next support sits at $26,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $27,200, followed by $26,800.

Major Resistance Levels – $27,500, $27,880, and $28,500.

Macro-economist Henrik Zeberg thinks Bitcoin (BTC) and other risk assets are gearing up for a “monster” move, with the trend still in its early stages. Zeberg’s predictions are based on the BTC/SPX Ratio, an indicator that compares Bitcoin’s performance to the S&P 500 index (SPX).

BTC/SPX Ratio Says There Is A Monster Move Incoming

Despite recent fluctuations and concerns about the crypto market’s sustainability, Zeberg remains bullish on BTC. In the analyst’s view, the BTC/SPX Ratio offers strong evidence that the Bitcoin uptrend is “just starting.” Based on price movements, the current leg down in September could provide opportunities for traders to accumulate.

The BTC/SPX Ratio is an indicator that assesses the relative performance of Bitcoin and the stock market. The ratio is derived from dividing the Bitcoin and S&P 500 index (SPX) spot prices. When it is rising, like it is presently the case, it indicates that Bitcoin is outperforming the stock market. Conversely, a declining ratio suggests that Bitcoin is underperforming. In that case, banking on the stock market could generate better returns than HODLing BTC.

From the chart shared on October 3, Zeberg said a “bull” signal was triggered in February 2023, preceding a substantial rally in Bitcoin’s price. By July 2023, Bitcoin had surged to approximately $32,000. While there has been a cooling-off period since then, Bitcoin is trending above February highs at around $25,200, confirming the uptrend.

Between April 2019 and May 2021, when a similar bull signal was printed, BTC soared by 6X, while the S&P 500 saw a more modest increase of 41%. Zeberg’s assessment, based on the BTC/SPX Ratio, suggests that Bitcoin–and other risk assets, by extension, can post strong gains in the months ahead.

Will Bitcoin Fly To $200,000 This Bull Run?

Whether this will be printed or not can only be speculated. Looking at the BTC/SPX Ratio, the indicator is lagging and doesn’t precisely capture market peaks or bottoms. 

For instance, the last bear signal in May 2021 was months ahead before Bitcoin peaked in November 2021 and fell. Therefore, while the bull signal was recorded in early February 2023, it is unclear whether there will be another leg down before prices rise or bears press on, pushing the coin back to 2022 lows. 

If buyers take control and the BTC/SPX Ratio indicator is correct, it is impossible to determine how high BTC will rise at current rates. If the last bull run is anything to go by, BTC may surge by 6X. In that case, BTC may rally and push beyond $200,000 in this bull cycle.