Altcoin Risk Model Falls to 15 as Crypto Analyst Sees Bull Market Starting

A crypto analyst has identified early signs of a new bull cycle in the altcoin market, citing low altcoin risk levels and an expanding business cycle as supporting evidence. The analyst, from Crypto Capital Ventures, stated that the altcoin risk score has fallen to 15, a low reading that has historically preceded significant price increases. When the model showed similar low readings, prices were higher one year later about 90% of the time, according to the analyst. The business cycle index has also moved into expansion for the first time since September 2020, a signal that the analyst describes as brand new.

The analyst has set price targets for Chainlink and Ondo, with Chainlink potentially reaching $85 per token, a 1.618 Fibonacci extension of its 2021 high. Ondo, on the other hand, is expected to outperform Chainlink and reach $4.50, according to the analyst's targets. The analyst has also identified three Bitcoin pullback zones, including the 50-week moving average near $77,000, the 20-week near $71,000, and the 200-week near $65,000.