Maker: at least +10% vs Bitcoin

Maker DAO’s MKR token is one of the oldest DeFi assets. Like many other crypto assets, it posted stellar gains this year. Yet in BTC terms, it’s still well below its all-time high of 0.18 that was observed in 2019.

After a surge to above 0.08 BTC (a level also last seen in 2019), MKR was heavily sold throughout February.

We’ve asked Hybrid Intelligence the following question to see if MKR has now reached the bottom.

“The cryptocurrency Maker (MKR/BTC) settled at 0.044437 BTC at 07:00 AM UTC at the Binance exchange on Thursday, February 25. Will MKR/BTC trade above 0.048881 BTC (+10.0%) earlier than trading below 0.039993 BTC (-10.0%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 71%

This is a bullish signal, suggesting that Maker is more likely to bounce from this level. Of course, it’s also important to watch the overall trend for the whole crypto market (covered in yesterday’s idea).