Analyst Predicts Bitcoin (BTC) Price to Hit This Level By May – Right Time To Buy The Dip?
At the time of publication, the price of bitcoin remained relatively stable at roughly $23,100. The number of positive predictions for the cryptocurrency that is considered to be the king of cryptocurrencies is growing.
Bitcoin to Hit $50k by May
Aaron Arnold, a crypto analyst and the founder of the YouTube channel dedicated to the cryptocurrency space known as Altcoin Daily, recently had a conversation with Bitcoin tech analyst Carl Runefelt, who said that Bitcoin now has a clear bullish divergence.
Runefelt has expressed his strong belief that it is feasible for BTC to reach 50,000 over the next four months, despite the fact that this could seem a little bit odd to some people.
The analyst says Bitcoin will hit $26,000 to $30,000 in February, $33,000 to $37,000 in March, $39,000 to $43,000 in April, and definitely $50,000 by the end of May. And while Runefelt seems quite sure of his prediction, it would seem that the comment section does not agree with him.
A significant number of people are emphasizing the fact that his forecasts are never accurate. For example, he anticipated that Bitcoin would be worth $300,000 in 2022, but instead, the token fell to $14,000.
Some even went so far as to compare him to Jim Cramer, claiming that whatever he forecasts for Bitcoin, the token will move in the opposite way. For instance, if he claims that Bitcoin will reach $50,000, then it is possible that BTC could fall to $20,000 in value.
If Bitcoin manages to break out of its current trading range and close over $23,250, it might trigger a new wave of buying. Under these conditions, it’s possible that the price would climb to about $23,650. The $24,000 mark may represent the next point of difficulty. Continuing the current upward trend would push Bitcoin’s price to the $25,000 area.
Will Ethereum Take a Dip Amid the Rising FUD? Here’s what Experts are Saying
On January 20, the price of Ethereum recovered above $1,600, wiping out its losses from the collapse of the FTX exchange. However, after reaching a recent high of $1,638, the price crashed to $1,527. The large profit-taking transaction ratio increased on January 20 according to experts at Santiment.
The FUD around ETH, according to analysts at Santiment, may in the medium term feed a bullish narrative for the asset. 21% of conversations on social media sites involved currency.
They saw a sharp increase in the ratio of transactions for profit-taking. The social dominance of the second-largest cryptocurrency by market capitalization also increased at the same time. Data from Whale Alert indicates that a whale today dumped 24,768 ETH worth $38 million into the cryptocurrency exchange Coinbase. Over the previous three days, whales moved ETH worth around $200 million to liquidity pools and crypto exchanges.
What’s Next for Ethereum?
Popular cryptocurrency analyst Michael van de Poppe predicted a further decline in the price of Ethereum to around $1,450. The critical support level of $1,550, according to him, may see some rebounding in the price of Ethereum, but the real bounce for another rally will only come from below that level.
He wrote on twitter, “Some slow grind upwards and then one more sweep in the coming days and the correction should be over and we’ll continue the party.”
Rekt Capital wrote, “$ETH is dipping in an effort to retest the black diagonal multi-month downtrend as support. The diagonal needs to hold firmly however as there is a danger of this Monthly Candle ending up as an upside FOMO wick beyond resistance.”
However, the price of ETH will continue to be under pressure until the U.S. Federal Reserve’s rate hike decision on February 1 and until the release of the fourth-quarter GDP statistics on Thursday. At the time of writing, Ethereum is trading at $1,548 and has lost more than five percent in the last 24 hours.
Analyst Urges Traders To “Buy The Dip” For THESE Assets
The cryptocurrency market has remained exceptionally bullish since January 2023, and especially in the past week. The flagship cryptocurrency, Bitcoin, has successfully reached $18,000 levels after reaching $16,000 levels. A similar pattern has been observed with Ethereum, XRP, Cardano, and other major altcoins.
Meanwhile, a well-known cryptocurrency analyst and trader, Altcoin Sherpa, has made bullish predictions for Bitcoin and Aptos.
Bitcoin (BTC) Analysis
The analyst makes an effort to inform 188,400 Twitter followers that Bitcoin is on the verge of hitting its next bullish target of $19,000. However, he also says that he is not sure if BTC will first see a dip before the bull run or not.
At the time of writing, Bitcoin is selling at $18,146 with a surge of 4% over the last 24hrs.
Aptos (APT) Price Analysis
Altcoin Sherpa talks about Aptos and claims that the altcoin will soon shoot by more than 31% if Bitcoin maintains its bullish move. The analyst believes that Aptos will hit $7 if the bull run continues.
Currently, Aptos is trading at $5.18 with a loss of 1.60% in the last 24hrs.
Furthermore, Altcoin Sherpa alerts his followers that though the crypto market is observing a recovery rally since the start of 2023, the bottom has not yet occurred. By this he means that the crypto market will probably see a bearish pull back before the next bull run. However, he urges traders and investors to turn this into an opportunity to buy the dip.
WOO Network (WOO) Price Analysis
Lastly, the strategist puts light on WOO Network (WOO) which is a liquidity network. He says that WOO is about to experience a downfall if Bitcoin makes a downward movement.
As per Sherpa, if Bitcoin falls, WOO Network will plunge between $0.15 and $0.14 area.
At the moment, WOO is changing hands at $0.16 with a fall of 1.73% over the last 24hrs
Bitcoin (BTC) Price Under Bearish Pressure, Could Dip To $10k Soon! Here’s Why
In November, the U.S. consumer price index (CPI) rose 0.1% from the previous month, slower than the 0.4% pace in October. This is a sign that the Federal Reserve’s efforts to bring down inflation are making progress.
The data also boosted cryptocurrency prices, as less-worrisome consumer-price increases may give the Fed more room to relax interest-rate hikes. Annual CPI growth was 7.1%, according to the Labor Department, below the 7.3% forecast by economists in a FactSet survey.
How Was The Crypto Market Impacted By The Report?
The largest cryptocurrency by market value, Bitcoin (BTC), has been relatively stable in December. However, it saw a 1.6% increase in the minutes after the news of the CPI data was released, reaching over $17,930. The Ethereum native cryptocurrency Ether (ETH) has also seen gains, with a 6.9% increase in the last 24 hours, reaching $1,335.
Sigel’s prediction
Despite the positive news about the CPI data, investing giant VanEck predicts that Bitcoin (BTC) could continue to face challenges as some miners may go bankrupt, overshadowing the overall favorable macroeconomic conditions.
VanEck’s head of digital assets analysis, Matthew Sigel, predicts that the “crypto winter” will reach its lowest point in the first quarter of 2023 when Bitcoin’s value drops to between $10,000 and $12,000. This prediction is based on factors such as the potential collapse of FTX and inflation stress.
How do miners affect BTC prices?
The Bitcoin miners have faced a challenging year, with rising costs and falling prices.
Miners’ income is tied to the price of Bitcoin because they receive it as a reward for solving complex mathematical problems to validate blockchain transactions. These rewards are often sold to fund their operations.
When the price of Bitcoin drops, as it has this year by 61%, weaker miners may sell their reserves, which can cause the price to drop further. This cycle of selling and falling prices, known as a “death spiral,” could lead to the collapse of some mining operations.
In order to survive, miners may be forced to sell their coins. Since July, miner wallet balances have plummeted by $444 million, to 1.818 million BTC. This trend may continue as most mining companies are currently unprofitable.
“Nearly all MVIS Global Digital Assets Mining Index components are burning cash and trading below book value. Due to increasing electricity costs and decreased Bitcoin values, we believe many miners to restructure or consolidate, “Sigel wrote.
2023: Will The Pump & Dump Continue?
From the all-time peak of $69k in November 2021, the BTC price would drop to a low of $12k in the following year. Bear markets in the past have bottomed out at around 85% of previous highs.
According to Sigel, the bitcoin price will reach $30,000 in 2023.
In Conclusion
While a CNBC survey indicated that only 8% of Americans have a favorable view of cryptocurrency, VanEck analysts believe that Bitcoin has potential in emerging markets. At a media event this week, VanEck highlighted the fact that 2.5 billion people live in countries with more than 7% inflation, while 15 currencies have declined by more than 20% year-to-date.
Matt Sigel, VanEck Global’s head of digital assets research, believes that 2023 could be a hopeful year for cryptocurrency, but the “crypto winter” will need to be overcome first.
The Presale For Flasko (FLSK) is Set To Boom As Solana (SOL) And Algorand (ALGO) Dip
With the year in which cryptocurrencies lost almost 90% of their value coming to an end, various crypto holders have started to branch out their investment portfolios. In the recent bear market, even prominent coins like Solana (SOL) and Algorand (ALGO) have fallen. But crypto experts say not to worry; a newcomer named Flasko may shine bright in the darkness.
Solana (SOL) Shows Red On The Charts
The Solana (SOL) blockchain has a high throughput, low price, and minimal ecological effects. Solana (SOL), the native currency, is used to pay transaction costs and staking to protect the network.
The Solana (SOL) network uses the proof-of-stake consensus method to enhance energy consumption. Even with this unique consensus method, Solana (SOL) fell drastically in the most recent bear market.
From its all-time high of $260.06, Solana (SOL) is currently down 87% and worth $31.27. This price leaves a lot to be desired.
Algorand (ALGO) Slides Down The Rankings
Algorand (ALGO) was developed to expedite operations and increase productivity in reaction to the lengthy transaction times of Bitcoin and other blockchains. As with Solana (SOL), Algorand (ALGO) uses the proof-of-stake consensus mechanism. Algorand (ALGO) has reduced trading fees and no mining, which is excellent for holders.
Unfortunately, like Solana (SOL), the bear market ravaged Algorand (ALGO). It is now worth $0.3226, and Algorand (ALGO) is currently ranked 30th on the crypto chart for market capitalization.
Investors and experts were shocked by the sudden decline in Algorand’s (ALGO) token value, and many are searching elsewhere for fresh, more reliable tokens to invest in. Time will tell what is in store for Algorand (ALGO).
Flasko (FLSK) Will Provide Massive Gains According To Analysts
As you may already know, the presale for Flasko has caused quite a hysteria in the crypto space. The Flasko team hopes to bring the trillion-dollar alternative-investment industry to crypto enthusiasts.
The newest method of purchasing premium and expensive wines, whiskeys, and champagnes is through Flasko. It will enable users to trade and invest in rare and increasing assets in small amounts by developing a unique alternative investing platform.
They will do this through the fractional purchase of NFTs backed by the actual bottles and casks of fine wine, vintage champagne, and whiskeys stored in various safe locations worldwide. Furthermore, for those that purchase an NFT entirely, the Flasko team will deliver the real-world asset right to their doorstep!
Early investors will earn many benefits from 75 exclusive NFTs to getting into various champagne, wine, and whiskey-tasting events, all partnered with Flasko. All these rewards may be enticing for you, and at an entry price of just $0.065, we believe these rewards are well worth it.
Crypto analysts also predict a 4,000% rise in the value of Flasko in the coming months. This prediction means we expect Flasko to be at least $4 by mid-2023.
Click the links below to participate in the presale and learn more about this unique initiative.
Website: https://flasko.io
Presale: https://presale.flasko.io
Telegram: https://t.me/flaskoio
Twitter: https://twitter.com/flasko_io
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Bitcoin Still In Buy Zone Amidst Market Correction – Should You Buy The Dip? Or Wait For More Drop?
The post Bitcoin Still In Buy Zone Amidst Market Correction – Should You Buy The Dip? Or Wait For More Drop? appeared first on Coinpedia Fintech News
The overall crypto market is under a bearish pull where the majority of the cryptocurrencies are trading below their crucial levels. Amidst such pump and dump a well-known crypto analyst and trader claims Bitcoin is still under the buy zone.
The analyst who is anonymously known as Dave the Wave was the one who had accurately predicted the Bitcoin crash in May 2021. Now, in his new strategy session informs his 126,600 followers over Twitter that the King currency is currently experiencing sideways trade within the buy zone.
Extended sideward range forming within the buy zone. Would like to see hled. pic.twitter.com/QlwEn3DYyo
— dave the wave
(@davthewave) September 18, 2022
Indicators Flash Bitcoin Bull Run
The strategist talks about Bitcoin’s moving average convergence divergence (MACD) and says the monthly MACD for the King currency appears to be bullish. The MACD indicator is based on the trend pointing towards the relation between two moving averages. This is the indicator through which the trader knows about reversal.
The monthly MACD did wonders for predicting the top [loss of mometum/ blue arrow].
Histogram is now as over-extended as previously… and on a similar time-range.
Bullish [for optimal buying as opposed to buying the top]. pic.twitter.com/fqvHQZdlFu
— dave the wave
The strategist further asserts that the logarithmic growth curve (LGC) model is the one that is still posing as the last Bitcoin model standing. The logarithmic growth curve or LGC is the one indicator that helps us know the future price action of the currency. The analyst also says that this is the model that had Bitcoin’s price action in 2018.
Last #Bitcoin model standing.
The LGC curves [since 2018] pic.twitter.com/Y9vfj1tBx1
— dave the wave
At the time of writing, Bitcoin is selling at $19,185 after a surge of 0.73% over the last 24hrs and the currency is under a loss of more than 4% in the last seven days.
Could the Latest Dip Trigger MetaCryp, Cosmos, and Stellar’s Price Explosion?
The crypto market lost more than $500 billion in less than 24 hours in August 2022. The year has been long, but this short market bull trend sent glimmers of hope to crypto enthusiasts. BTC dipped from $24k to $20k in less than a day, confusing many traders.
One good thing about dips is that they succeed in spikes and uptrends. For this reason, you hear phrases like “buy the dip”; because many experts believe and have confirmed over time that dollar-cost-average, while the market is down, is a great way to bet on a huge future for your holdings.
Could the latest dip trigger cryptocurrency to higher price levels? Here are some cryptocurrencies predicted to soar if the market becomes favorable afterward: MetaCryp (MTCR), Cosmos (ATOM), and Stellar (XLM).
Cosmos, the token of the internet of blockchains
Cosmos (known by its ticker as ATOM) is the native and governance coin of the Cosmos blockchain. Cosmos prides itself as the internet of blockchain that facilitates blockchain interoperability for decentralized applications and services.
Cosmos made this list because it has recently shown positive price levels following the long crypto year. Cosmos could hit a higher high if its market sentiment maintains stronger greed in the coming weeks.
According to multiple reports, Cosmos, alongside a few other cryptocurrencies, made it to the best crypto performers list in the third quarter of 2022. There could be more as the crypto market will enter a bull run soon.
Why Stellar could be a portfolio strengthener
Stellar (XLM) is one of the cryptos to feature in the top 50, yet its unit price is not up to half a dollar. This indicates that Stellar is a good coin because of the community’s huge interest in it and even its native blockchain, Stellar Lumens.
Stellar Lumens is one of the disruptors of traditional banking systems. This puts it in nearly the same list as Ripple, which is used for borderless transactions. Stellar’s low unit price could win hodlers a fortune if it gets to $1 per unit. Stellar will be here for long and profit long-term traders.
MetaCryp, aiming for higher price levels with a recent dip
MetaCryp Token, although a newcomer, could top higher price levels despite several market dips. A positive market trend could set MetaCryp Token even higher up the chart. Traders looking to leverage low prices to increase their earning margin may not afford to miss out on MetaCryp Token.
What is MetaCryp?
MetaCryp Token (MTCR) is the native and unique exchange token used in the MetaCryp ecosystem. The MetaCryp ecosystem features mainly NFTs and the Metaverse spiced by play-to-earn incentives.
MetaCryp Token is still in its infancy and could soar higher after the presale scheduled to run from August to December 2022. Early birds will earn instant cashback bonuses that could stack up to 300%.
Learn more about MetaCryp (MTCR) by visiting the links below:
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Bitcoin (BTC) And Ethereum (ETH) Could Dip Lower Than the Recent Bear Market – Coinpedia – Fintech & Cryptocurreny News Media
As hawkish remarks from the US Federal Reserve concerning inflation and the economic slowdown continue to weigh on riskier assets, the price of bitcoin today rose to trade above $20,000 after falling below the level in the previous sessions. At $20,333, the largest and most widely used cryptocurrency was trading slightly higher.
According to recent data, the market capitalization of all cryptocurrencies was again above the $1 trillion threshold today after increasing by almost 2% in the previous day to $1.04 trillion. However, does it indicate a BTC buying opportunity, and how far will the price of digital assets fall? Read on.
Popular cryptocurrency analyst Nicholas Merten predicts that after the most recent economic statement made by Federal Reserve Chair Jerome Powell, the price of digital assets will fall even more.
The Fall in Cryptocurrencies May Deepen
On Friday, Jerome Powell declared that the Federal Reserve would pursue a tight monetary policy in order to boost interest rates and keep inflation in check. Several knowledgeable crypto specialists commented on the announcement after it was made.
According to the DataDash server, which published claims on Youtube, Jerome Powell’s remarks to 515,000 subscribers and the following quotes from his speech will cause the cryptocurrency and other digital assets to suffer more:
In my opinion, the slide in cryptocurrencies will worsen not just after the August 15 short-term correction, but also after the broader bear market correction and monetary tightening policy that followed Jerome Powell’s previous speech.
Furthermore, he said in his statements that the Federal Reserve’s strategy, even if it momentarily hurts the markets, fulfills its objectives by reducing inflation:
To be quite honest, he said that the majority of us have bad opinions of the Federal Reserve. But in terms of monetary policy, the Fed is acting exactly as it should. It evaluates tiny balance reductions and increases interest rates. Even a move of 100 basis points, in his opinion, would be the best the FED could do. It would be preferable to induce shock and awe, which would essentially put the economy on hold for a while, reduce consumer demand in the short term, and restore equilibrium.
Buying Opportunity for Bitcoin
But according to the analyst, now is a good time to buy Bitcoin (BTC) and Ethereum (ETH), the two most popular cryptocurrencies, as a result of the Fed’s actions and the current bear season:
The best part is that there’s a chance that Bitcoin, Ethereum, and other cryptocurrencies will return to their bear market lows and decline even worse. In this instance, it provides investors with some excellent entryways.