Summary
TLDR: Fetch.ai’s price is showing bullish potential as investors remain optimistic and whales are accumulating more assets. The correlation between FET and Bitcoin post-halving event could lead to a rally. Fetch.ai’s price is currently forming a bullish double-bottom pattern, indicating a potential uptrend. If the pattern is validated, the price could see a 14.72% increase. However, if bearish cues prevail, the price could fall to $2.28. Always conduct your own research before making any financial decisions.
Key Points
1. Fetch.ai’s price at the moment presents a bullish outlook that will likely be successful with the aid of investors.
2. The altcoin also banks on Bitcoin to benefit from post-halving bullishness.
3. Fetch.ai’s Investors Remain Optimistic
This rally might come sooner rather than later for multiple reasons, one of which is the correlation between FET shares and Bitcoin. The world’s largest cryptocurrency just underwent the halving event, which occurs once every four years and slashes the mining rewards in half.
This induces a supply shock, resulting in a rise in the BTC price. Consequently, altcoins feel the impact of this bullishness and FET sharing a correlation of 0.85 among these assets.