Glassnode Cofounders Bullish on Crypto Market Growth: Predict Massive Upside Beyond Recent Corrections

Glassnode’s cofounders, operating under the official X account Negentropic, have offered a bullish sentiment for the crypto market, predicting massive growth beyond recent corrections. Despite increased volatility and uncertainty following the Bitcoin Halving event, the cofounders have identified a strong uptrend in the market, particularly in the “OTHERS” category excluding the top 10 cryptocurrencies.

Comparing the current market conditions to a “strong correction” seen in early 2021, which they labeled as “wave 4” in the market cycle, Glassnode’s cofounders anticipate approximately a 350% increase from current levels. This optimistic projection underscores their confidence in the potential for further market expansion despite recent downturns.

While the overall market sentiment remains bullish, with a 3% increase in the global crypto market in the past 24 hours, Bitcoin has faced criticism from figures like Peter Schiff for its high transaction fees and processing times. Despite this, Bitcoin’s average transaction fee has decreased significantly, offering hope for its future as a digital currency.

Analyst Charles Edwards has shared three possible scenarios for Bitcoin post-Halving, predicting a potential price surge beyond $100,000. With the crypto market showing signs of recovery and Glassnode’s cofounders expressing confidence in future growth, the stage is set for an exciting period in the world of cryptocurrency.