The total market cap of all crypto assets, which includes Bitcoin, now totals $165 billion, a 150 percent gain from mid-July lows of $67 billion and a whopping 16 times crypto’s value of $11 billion at this time last year.
Bitcoin itself has reached another all-time high of $4,650, up about three percent in the past 24 hours.
Trend-based Fibonacci Extensions use past price behavior to establish price targets and potential reversal areas. They can be a guide for unchartered territory at new highs and new lows.
Technical analysts have noted a mathematical relationship between past and future price moves based on the Fibonacci series, a sequence of numbers in which each number is the sum of the two preceding ones.
This “golden ratio” is witnessed throughout the natural world and can be found in plant growth, astronomical patterns and even financial markets. Trend-based Fibonacci Extensions are a predictive technical indicator that applies this “golden ratio” to asset price movements.