There are certain patterns in the crypto market despite the volatility that can be detected through careful analysis of on-chain data and other indicators.
Bitcoin's hash rate, for example, has been relentlessly pushing to new record highs, indicating growing interest and investment in the cryptocurrency.
According to one chart, Bitcoin could soon enter a new phase of "belief" if it breaks above $30K, which could spur further investment and growth.
Recent rumors about the Mt. Gox Trustee and the US government have also contributed to market volatility, causing a sharp sell-off in some cases.
Despite these challenges, Bitcoin "Shrimp" (or long-term investors) continue to acquire coins at a rate of 28k per month.
Golden Ratio Multiplier suggests bullish outlook for #Bitcoin, with 52,500 blocks to halving.