Bitcoin leaps to $63,000 overnight. 👀

Bitcoin's recent surge to $63,000 has captured the attention of not just the cryptocurrency world, but just about everyone in the financial sector at large. For the first time in a long time crypto, and Bitcoin specifically, is at the center of mainstream finance news, and as the world's largest cryptocurrency approaches new all-time highs, the burning question on everyone's mind is, "What happens next?"

Technical analyst (or fortune teller, as some call them), "Mags" took to 'X' soon after Bitcoin's last breakout in an attempt to answer, claiming that Bitcoin's massive broadening wedge pattern means $90,000 BTC should probably be the investor communities next 'near-term' target.

Great for Bitcoin, but what about all the rest of us?

Bitcoin is the top dog in the crypto space, sure, but if you're into crypto, chances are you're holding a mixed bag of pretty widely varying assets. So what are the ETH-heads, the SOL-maxi's or the DOGE-degens to make of this prediction?

First off, we need to consider just how many on the other side of the aisle are calling for a retrace. Plus, there's the fact that Bitcoin has never hit an all-time high before halving, and crypto hasn't been tested in high-interest rate environments like we have now. So it's fair to say we're in uncharted territory.

Unfortunately, no matter how many lines your draw on a Bitcoin price chart, there's just no way to be certain about where the markets are headed, but sometimes the best way to figure out where we're going next, is to look back at where we've been.

What goes around, comes around.

When Bitcoin runs, a portion of its market cap tends to trickle down into large-cap coins as it consolidates, with mid and low-cap coins following soon after. This seems to be largely caused by retail investors seeking to rotate into positions with higher potential up-side as Bitcoin's price begins to plateau.

This cycle is based on historical data, but it's always important to remember that the crypto market is still relatively young, and a quick look at last year's charts is no replacement for doing real, in-depth research.

Regardless of what moves you choose to make with your portfolio, it's clear that keeping a close eye on the market is key.

That's why we added favorites to the Giddy wallet. So you can save and get live updates on your favorite crypto assets and always be prepared for your next move. 🤝

If you haven't starred any coins yet, go give it a shot. Save your your favorites in the "coins" tab of your Giddy wallet now and never miss another big move in the market. 👇

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