On-chain analysis firm Swissblock recently said that the stabilization in Bitcoin (BTC) is the beginning of a move that will take the price to $76,000.
Swissblock analysts made statements about the current state of the cryptocurrency market. The details of the statement indicated that the bloodbath in the cryptocurrency market, including Bitcoin, on March 5th will be more fuel for further growth.
Analysts who said that the rapid recovery of Bitcoin to the $67,000 level after the fall is the first step towards $76,000 predicted that altcoins would also accompany this upward wave.
In bull markets, similar drops are said to be aggressively bought by investors, and this buying pressure leads to a rapid recovery in prices.
According to CoinGecko data, Bitcoin, which has lost 0.5% in the last 24 hours, is currently trading at $66,808.