Bitcoin (BTC) to Hit $28,000 Next Week? This Analyst Thinks So
The fact that Bitcoin has established what seems to be a firm support level of over $23,000 has brought a lot of excitement to the community. At the time of going to print, one king coin was valued at $23,492; however, only a few days before, the token had even reached and breached $24,000 for a brief period.
All eyes are on Bitcoin’s performance in February as predictions pile up and commentators get enthusiastic. That Martini Guy, a crypto specialist who posts videos on YouTube, has forecast that Bitcoin’s price would reach $28,000 by the following Friday.
That Martini Guy predicted as the CME gap/exchange is about to close, Bitcoin will have a tremendous rise and go higher than $28,000.
The expert believes that Bitcoin’s price will fluctuate slightly around $25,000 over the next few days. He also believes that Bitcoin’s price may start at that level but will most certainly surpass his $28,000 target before the day is done.
Recent monetary policy decisions made by the Federal Reserve in the United States have significantly impacted the cryptocurrency market. Bitcoin and other digital assets rose in value after the Fed said it would slow rate rises to 25 basis points.
Technically speaking, Bitcoin is rising and is headed toward $23,800, where there is some near-term support. If this level is breached, more buying might send the price all the way up to $24,000, where an upward trendline may give support around $24,550.
In addition, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are both showing signs of a trend toward selling, which means that more selling pressure might potentially drive the price of Bitcoin (BTC) higher upwards. It is clearly highly expected that the king coin will see a massive surge this month, so let’s watch and see.
Bitcoin Will Hit $1 Million by 2030, Claims Ark Invest CEO Cathie Wood
Cathie Wood, the visionary CEO of ARK Invest and a prominent advocate of Bitcoin, has re-affirmed her prediction that the price of BTC will reach $1 million by 2030. This forecast comes amidst Bitcoin’s sustained upward trend.
According to Wood, the Bitcoin network has remained unscathed, despite facing various challenges such as the bear market, the crypto winter, and the downfall of several prominent companies. The network has operated as designed – decentralized and transparent.
Wood believes that her forecast is actually modest, as the findings of ARK Invest’s Big Ideas 2023 report indicate that Bitcoin has the potential to reach even higher prices over the next seven years.
Bitcoin As A Solution For Wealth Preservation?
Cathie Wood believes that Bitcoin presents opportunities for wealth preservation for individuals of all financial backgrounds. She cites the global phenomenon of hyperinflation causing currency collapses and the need for a fallback, or insurance policy, such as Bitcoin.
She also believes that high-net-worth individuals will benefit from using Bitcoin as a hedge against the confiscation that can occur from inflation. If successful, this could result in the value of one Bitcoin reaching $1 million by the end of the decade.
The avid Bitcoin supporter highlights that the token has consistently outperformed other assets over the long term, making it the best-performing asset in any class. Its durability and stability make it a strong choice for wealth preservation.
ETH Price Is Rising, May Hit $1800 in February: Is Now the Time to Sell Bitcoin for Ethereum?
Ethereum price has been maintaining a significant strength and consolidating heavily along the interim resistance. The trend currently appears to remain capped below $1650 but also flashes bullish signals that may uplift the rally in the coming days. The price slipped below $1600 after the fresh trend reversal and is failing to reclaim the position at the moment.
The volume has dropped significantly, which appears to have kept the price compressed. Moreover, the possibility of some bearish divergence is flashing due to which the price could further drop below $1500. This could be the trigger of a massive upswing fueled by the bulls and the whale who may enter at the interim bottoms.
Ethereum price is trading within a falling wedge which is largely considered bullish. The price was expected to face rejection and drop below $1500 as it holds these levels tightly, it indicates the price may revamp with a significant bullish trend soon.
However, the bearish divergence in RSI may be a little concerning which may loosen the grip of the rally. Unless MACD is hovering within the positive range, the possibility of a notable upswing may not be eliminated.
The ETH price is trading at $1575.29 with a slight jump of 0.23% in the past 24 hours. The trading volume has dropped extensively by more than 23%, while the market cap is advancing towards $193 billion at the moment. The levels at $1650 can be considered pivotal that may determine the direction of the impending rally.
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.
Bitcoin (BTC) Price Can Hit $30K in February If This Happens
At present, the value of Bitcoin has stabilized at around $23,000. The interest rate and Bitcoin have a direct correlation, as evidenced by the fluctuations observed over the past year. If data suggests a 25-basis point softening, a short-term price increase can be expected.
The Federal Open Market Committee’s meeting concludes on February 1st and a 25-basis point rate hike is widely expected, pushing the federal funds rate from 4.5% to 4.75%.
When the Federal Reserve started hiking interest rates, Bitcoin’s value decreased, possibly due to nervous market participants selling their holdings.
Economic Concerns & Recession Risks
Bitcoin broke $23,000 as the previous month’s numbers leveled out, jumping 40% in 4 weeks. If interest rates continue to soften, another significant increase may be seen in February, potentially breaching the $30,000 support level. Currently, BTC is valued at $23,727 with a 7% increase in the past 24 hours.
The CME FedWatch Tool predicts a 99.9% chance of a 25-basis point interest rate hike by the Federal Reserve. Once a decision is made, Fed Chair Jerome Powell will give a speech outlining the Fed’s outlook. Although a 25 bps hike is widely expected, the possibility of a 50 bps hike still exists.
Elon Musk and Treasury Secretary Janet Yellen have voiced concerns about the risk of a deep recession in the US economy. Yellen worries that high-interest rates could trigger a recession, despite declining inflation and positive employment numbers.
Litecoin (LTC) Price To Rally In Coming Days! Will it Hit $100?
Litecoin (LTC) has rallied about 33 percent in the past 30 days to trade around $93.66 on Tuesday. The proof-of-work (PoW) secured digital asset enjoys over 7,365,212 holders who have made a total of 142,360,884 transactions since inception. In the past 24 hours, the Litecoin network has reported a total of 48,552 transactions with over 2.4 million blocks already mined.
However, the underlying value of Litecoin continues to trade below 2018’s ATH. On the weekly timeframe, Litecoin bulls are eyeing to push beyond $100 to retest a psychological trend line that has acted as a resistance level. If the Litecoin price bounces back to the upper side of the trend line, the multi-week bear market will be exacerbated.
However, a breakout above the trend line will see the bulls rejuvenated to revisit the ATH and possibly rally to price discovery.
Closer Look at Litecoin (LTC) Fundamentals
The PoW-secured blockchain has a total hash rate of about 667.32 TH/s and a mining difficulty of around 24.05 million. With a programmatic halving of around four years, similar to Bitcoin, the Litecoin community is expecting the next halving to take place on August 03, 2023. After the 2023 halving, Litecoin’s block reward will be reduced from 12.5 to 6.25 LTC.
As a top-traded digital asset, Litecoin could rally further fueled by a short squeeze as shown by daily liquidations. According to data provided by Coinglass, the Litecoin market has recorded a total of $1.67 million in liquidation in the past 24 hours.
Over, the Litecoin ecosystem is lagging in terms of DeFi development compared to projects like Ethereum that launched at a similar time. As such, the Litecoin long-term bulls may lack much fuel to rally more compared to other top digital assets like Cardano and Solana which have active developers.
DOGE Price Rally – Will Dogecoin Hit $0.1 in the Next 48 Hours?
While most top digital assets faced declines over the past two days, Dogecoin (DOGE) bucked the trend with a 6% increase in the past 24 hours. The meme-inspired cryptocurrency experienced a surge in the daily traded volume of over 173%, reaching $1.28 billion on Tuesday, indicating strong demand.
However, high liquidation levels, with $4.01 million recorded in the past 24 hours, suggest caution for intraday DOGE traders as sudden price drops due to stop hunts may occur. It’s worth noting that the performance of most altcoins is closely tied to that of Bitcoin.
Dogecoin Price Predictions
The Dogecoin market appears to have emerged from the 2022 bear market, fueled by Elon Musk’s Twitter announcement which triggered a relief rally in late 2022. The bullish sentiment is expected to drive the DOGE price towards a retest of its December 2022 high at $0.11, followed by a correction and a possible rally to $0.155.
However, the ongoing consolidation period suggests that a parabolic rise in price discovery is unlikely. Therefore, a near-term price correction could cause DOGE to revisit lower levels, possibly below $0.9 by the end of 2023.
The Dogecoin community believes that DOGE’s upward price trend will persist as long as Elon Musk continues to support the cryptocurrency. With Twitter reported to have applied for payment licenses in the US, the Dogecoin community eagerly awaits Musk’s integration of the meme-inspired cryptocurrency as a form of payment.
Musk has demonstrated his support for Dogecoin in his other ventures and is advocating for McDonald’s to accept it as payment.
Crypto Markets to Remain Highly Volatile in the Coming Week-Bitcoin Prices may Hit $25K
Bitcoin price was believed to mark the bottom somewhere by the mid of Q1 2023 as the bear held a strong grip over the market. However, the market quickly displayed a bullish divergence since the beginning of the year 2023, hinting at the beginning of a recovery phase.
Now that the crypto markets are being impacted by external events, the coming week is expected to be volatile as the FOMC is set to meet to announce the new Fed rate.
The FOMC meeting is scheduled to happen in the first few days of the week. Another couple of events are believed to take place that may not only impact the crypto space but also the traditional financial markets too. However, until the agenda of the meeting is not let out, the BTC price is believed to trade flat and spike high on the announcement as predicted by a popular analyst, Johnny Woo.
“Expecting to see something like this until FOMC. What will happen on Feb 1? Sharp increase, then, sharp decrease. It happens/ has happened every time on all FOMC days,”
Along with FOMC, GAFA financial results, US employment statistics, and big events like the earnings of Apple, Google and Amazon are to be announced. Therefore, a stage is assumed to have been set for the crypto space in the month of February wherein based on the earnings, the markets are believed to travel.
However, the speculation of a rise of 25bps or 50bps is hovering within the markets which may induce a significant bullish momentum within the crypto space. Therefore, the bears may not attempt to defend the $25,000 levels in the coming days and hence a significant breakout could be expected.
Therefore, after achieving the crucial $25,000, the bulls may undergo a sharp impulse to $27,500 to $28,000 may be expected. However, soon after achieving these levels, a massive correction may drag the price lower to $20,000 as suggested in the above chart. While the fresh rates are about to be announced, it is pretty difficult to analyze how markets may react but the volatility within the markets may rise high.
XRP Price May Hit $0.54 in Coming Month and End the Q1 2023 Trade above $1!
As the foundations for a significant rebound have emerged, the markets appear to have stuck in some crucial levels. However, Bitcoin prices appear to be hovering close to $23,000, displaying huge possibilities of rising beyond the levels soon. Besides, the XRP price appears to inculcate an independent price action as the trends await the bullish push which may be ignited by the outcome of the Ripple vs SEC case.
A popular analyst, anonymously called Dark Defender lists out the possible outcomes of the Ripple vs SEC lawsuit and its impact on the XRP price.
The analyst here provides the levels, the XRP price may reach in either of the circumstances but also believe the price may rebound quickly in case of a bearish divergence. While it is also assumed the lows at $0.22 may offer a strong base for the token, to begin with, a firm recovery where-in the bulls may load their bags before the bug run ahead.
Besides, in the short term, the analyst believes that the XRP price may defend the support and fairly rise high to reach $0.54 in February and above $1.13 in March.
Collectively, the XRP price appears to be at the edge of a massive explosion and may rise significantly in the coming days, regardless of the Bitcoin price rally.
Will APT Price Hit New High in 2023?
The crypto market has come a long way from being limited to only primitive cryptocurrencies such as Bitcoin and Ethereum. The space has been liberal enough to host a number of projects from varied sectors both with and without utility. Aptos is another such project. APT is considered one of the best-funded projects.
Aptos price chart has shown strong market potential in the past few days. The circulation supply of the token is roughly 160 Million. Compared to other technological innovations, APT has good market potential for the future. This brings a concern for the Aptos price prediction for 2023.
After the Bearish year of 2022, crypto investors are now trying to figure out when the next crypto bull run could begin. Are you one of those who are planning to invest money in cryptocurrency? Let’s look at the detailed Aptos price prediction for 2023 – 2025 and the years to come.
Overview
| Cryptocurrency | Aptos |
| Token | APT |
| Price | $12.82 |
| Marketcap | $2,043,026,388 |
| Circulating supply | 159,298,811 APT |
| Trading volume | $945,219,632 |
| All time high | $14.48 |
| All time low | $3.09 |
Aptos Price Prediction 2023 – 2030
Aptos is a layer-1 blockchain with the resources to move programming language. Aptos newly released crypto project aims for a safe, scalable, and upgradeable proof-of-stake (PoS) network. Aptos enables DeFi projects to be built on its blockchain.
So far, there are over 30 DeFi projects on the Aptos ecosystem. These projects include decentralized exchanges, lending protocols, and liquid staking. Aptos (APT) price prediction for 2023 could range from $16.64 to $25.47 for the year.
What Is Aptos (APT)?
The Aptos blockchain uses the Move virtual machine (VM) for executing operations. While many blockchains implement a set of native operations, Aptos manages and structure all operations to Move, including account creation, fund transfer, and publishing Move modules.
A blockchain is as strong as its ecosystem. The most popular projects on Aptos are NFTs and marketplaces, DeFi, launchpads, wallets, and infrastructure tools. Here, the biggest names are AUX Exchange, PancakeSwap, LiquidSwap, Tortuga, Ditto, Thala Labs, and Race Capital.
Fundamental Analysis
Aptos Labs is co-founded by Mo Shaikh and Avery Ching, both former Meta employees who have years of experience in the blockchain industry. Aptos Labs initially raised $350 million from FTX Ventures, Jump Crypto, a16z, Tiger Global, and Multicoin Capital, among many other capital ventures to boost their research and development.
The Aptos blockchain engine relies on parallel execution to handle multiple transactions at once. This makes things much quicker because a single failed transaction won’t halt the whole chain. Instead, transactions can be processed concurrently, and all of them are validated post-execution.
Aptos Price Prediction 2023
Aptos has a very strong roadmap as it has planned many events and collaborations for the ongoing year. Project voting and NFT staking are some of them. Aptos is ready to launch its game The Gran Saga: Unlimited, their first ever web3 game in collaboration with NPIXEL. Testing of the game will begin in Q1 ahead of the public launch in Q2.
If APT finds a steady rise in the charts of traders and investors, we can expect the Aptos price prediction for 2023 to initiate on a bullish note. Which could drive in more alliances, adoptions, and investors. Wherefore, the price of APT could end the trade for 2023 at $25.47.
However, on a bearish note, the APT price could end its trade for the year at $16.64. That said, constrained by linear momentum, the average price might find its base at $21.05.
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2023 | 16.64 | 21.05 | 25.47 |
APT Price Prediction 2024
2024 is the year of cryptocurrencies as the next Bitcoin halving is going to take place. The market is expected to see a major price surge during this period.
The growing prominence of NFTs would be imperative in the growth of the Aptos coin. Further developments and community-building initiatives, and expansion of services to other chains could lead the APT price could propel to its potential high of $38.25.
In contrast, consequences like bearish trends or a market crash could sink the APT price down to $23.18. Successively, the average trading price of the coin could close at $30.91 for the year.
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2024 | 23.18 | 30.91 | 38.25 |
Aptos coin Price Prediction 2025
If Aptos manages to gain more trust in the market and performs well, it could attract more projects on its blockchain. This could lead the APT coin price prediction to surge to a maximum of $51.85 by the end of 2025.
Conversely, growing dominance and potential rivals could bring the Aptos price down to $30.76. Considering the volatile market situation, the average price could settle at $41.28.
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2025 | 30.76 | 41.28 | 51.85 |
Aptos (APT) Price Prediction 2026 – 2030
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2026 | 38.28 | 51.56 | 63.97 |
| 2027 | 46.78 | 62.32 | 77.22 |
| 2028 | 54.36 | 72.91 | 90.61 |
| 2029 | 63.66 | 84.16 | 103.54 |
| 2030 | 72.95 | 95.47 | 117.13 |
CoinPedia’s APT Coin Price Prediction
Factors like more number of projects on the blockchain, and collaboration, could bring more recognition to the company. This will also give a boost to the sentimental belief of investors and traders. The price prediction of APT could propel to $25.47 by the end of 2023.
On the downside, increasing FUD amongst investors and a lack of updates could curb the price to the bottom at $16.64.
Market Analysis
| Firm Name | 2023 | 2024 | 2025 |
| Wallet Investor | 0.9058 | 0.462 | 0.6051 |
| DigitalCoinPrice | 28.02 | 31.85 | 46.20 |
| Changelly.com | 11.69 | 16.82 | 25.40 |
Aptos Historical Market Sentiments 2022
- Aptos made its appearance on trading sites on 19th October 2022, with a trading price of roughly $8.50.
- Within the first 4 trading days the price rose to $10.1, but later the coin was trapped in a bearish trend. The FTX-BNB dispute wiped out 50% of the valuation of this crypto.
- Google enhances partnership with Aptos to explore web3. “Solana Killer” Aptos also Announced a Major Collaboration to launch cross-chain integration with Cardano DEX & Decentraland in November.
- The token closed with a trading price of $3.47 for the year 2022.
FAQs
Aptos has shown a very strong potential lately, this could be a good opportunity to invest in this asset.
Yes, Aptos is a layer 1 blockchain with resource objects and Move programming language.
The price of APT could possibly reach its maximum of $25.47, by the end of 2023.
It has a circulating supply of 160 Million APT coins, and a total supply of 1,015,494,382.690.
Aptos price could hit its maximum price of $51.85, by the end of 2025. With a potential surge, the price may go as high as $117.13 by the end of 2030.
Aptos uses a different smart contract programming language than that of Ethereum. As a result, it could be much better equipped to handle Web3 innovations related to apps, games, and the metaverse.
Aptos was founded by Avery Ching and Mo Shaik, on 12th October 2022.
Ripple on the Rise: Will XRP Price Hit $0.43 Next? Experts Weigh In
The XRP price has rallied over 5 percent in the past 24 hours to trade around $0.43 on Monday. Unlike Bitcoin and Ethereum, the XRPL native coin is yet to fully recover from FTX and Alameda’s implosion. As such, a breakout from current levels could lead to a rally toward $0.49. Such a move is supported by the 200W MA that has stabilized around $0.50 since XRP hit bottom in June of last year.
However, such a move could be invalidated should the price respect the falling trend line formed in April 2021. As a result, the digital asset could correct towards $0.32, a support level respected since June last year.
According to a popular analyst on Twitter (@PrecisionTrade3), XRP price is moving in correlation with Bitcoin’s price. As such, an imminent Bitcoin correction could push XRP price towards $0.35 in the near term.
With a market capitalization of approximately $21,228,377,262 and a daily trading volume of about $1,175,276,611, the XRP market has a long way to enter the top five digital assets. Moreover, Binance’s BNB – ranked fifth by valuation – has a market capitalization double that of XRP and continues to trade in a close correlation with Bitcoin.
As a top traded digital asset, XRP has recorded to tap liquidation of approximately $2.82 million in the past 24 hours according to data by Coinglass. The high liquidation could lead to a price rally as demand for XRP increases on exchanges and OTC markets.
Meanwhile, the ongoing Ripple vs SEC lawsuit remains a huge stumbling block to the XRP price rally. Furthermore, other tokens, including LBRY, already deemed as securities by the SEC have completely failed.
Crypto Market Analysis: Bitcoin Remains Consolidated While Dogecoin Aims to Hit $0.1
Crypto markets today are pretty consolidated as the past weekend could not offer the required push that may have exploded the price beyond $23,000. Meanwhile, some altcoins are displaying enough momentum to reach the desired target soon.
Dogecoin price, which traded under extreme bearish pressure for more than 20 months, appears to have surged notably. However, the trend reversal is still required to be validated which may enable the price to rise high beyond the crucial resistance.
DOGE prices surged in the times when Elon Musk has not talked about the token much. Yet the prices surged by more than 40% and Shiba INU over 50% since the start of 2023 which signals the possible start of the memecoin season. Dogecoin price underwent a massive bullish close for the previous week that may end the multi-year bearish trend.
Dogecoin price has risen above the huge falling wedge, flashing extreme bullish signals. The price appears to be in the process of validating a firm upswing after a breakout beyond the upper resistance of the wedge.
Furthermore, a decent upswing could be validated by surging beyond the pivotal resistance at $0.15 which appears to be pretty distinct from the current levels. Woefully, the buying volume has not been up to the mark as reflected during the November 2022 surge.
Despite a bullish breakout, the Dogecoin price may continue to remain under the bearish influence. Therefore, the price may eventually surpass $0.1 by the end of January 2023 and maintain a notable upswing thereafter.
However, the possibility of rejection also haunts the rally and in such cases, a slight drop towards $0.08 could be possible.
Top Crypto Predictions for January 2023- Bitcoin (BTC) & Ethereum (ETH) May Hit These Levels in the Coming Week!
Bitcoin price is going up today and the major altcoins have also absorbed a significant bullish momentum. During the past weekend, BTC prices surged by nearly 15%, inciting a strong bullish trend for the rest of the week.
Although the tokens witnessed a minor pullback with some consolidation, the trend continues to remain bullish. Presently, the markets are about to encounter another weekend with the possibility of producing another bullish wave during the upcoming weekend.
Will Bitcoin (BTC) Price Hit $24,500?
Bitcoin price is failing to surpass $23,000 as the bears are hindering the rally at $22,900. The past few hours witnessed significant selling pressure accumulated that was observed a couple of days ago that slashed the price by 5% then.
Moving ahead, the bears were exhausted to some extent which helped the bulls to uplift the price beyond the crucial resistance at $21,410. Further, the prices exploded and marked highs beyond $22,500 for the first time in the past 4 months.
The BTC price after rebounding from $20,500, sliced through the crucial resistance levels at $21,500 and soared beyond $22,500 marking new highs for 2023. Now the bulls appear to be perplexed as the assets are being impacted with minor bearish pressure. However, the upcoming weekend may witness a breakout after experiencing excessive price compression.
A breakout may lead the price to rise beyond $24,000 while in case of rejection, the price may test the lower support at $22,500. If failed to sustain at these levels then a drop to $20,550 may be imminent.
Ethereum (ETH) Price Poised to Hit $1700 this Weekend
After facing a rejection of $1780, Ethereum’s price dropped heavily to mark the bottom just above $1000. However, since the start of 2023, the price maintained a significant upswing and rose above $1650. Presently, the second-largest crypto is facing notable bearish pressure which may be overcome during the upcoming weekend.
The ETH price is currently trading close to one of the important resistance levels at $1657 and facing bearish actions. In case of extended bearish pressure, the price may drop toward the lower support at $1596 and ignite a rebound. However, the next price zone to cross could be between $1750 to $1770 which may clear the path toward $1800.
Bitcoin’s Fate Depends on the Federal Reserve’s Next Move – Will It Crash or Hit New All-Time Highs?
Experts speculate on the probable influence of the upcoming monetary policy adjustments by the Federal Reserve on the cryptocurrency market, particularly on the price of Bitcoin, as it nears $23,000 and the majority of the crypto market remains in green with the global crypto market moving over $1 trillion for the first time in what has been a while.
What Will Bitcoin’s Fate Be?
Given the dollar’s status as the world’s reserve currency, it comes as no surprise that the price of bitcoin is highly sensitive to fluctuations in the availability of US dollars across the world.
The market’s recent performance indicates that participants are expecting the Federal Reserve to change its stance on monetary policy. If the Federal Reserve follows through with a policy move, some analysts believe it might sustain the current advance in Bitcoin and spark a secular bull market.
One thing is certain as the world watches the future of monetary policy and its possible influence on the crypto market: Bitcoin and digital currencies are in a state of constant development, with substantial room for both volatility and growth.
Traders paved the way for the new Bitcoin gains amid worries of a severe drop, and Bitcoin prices kept rising to new multi-month highs. Bitcoin’s value has increased by nearly 9% in the last twenty-four hours and 11.5% in the last seven days, to a current price of $$22,848 as of this writing.
Analytics tool built directly upon the blockchain Meanwhile, yesterday’s removal of ask liquidity on Binance was spotted by Material Indicators, paving the way for Bitcoin’s debut surge beyond the $22,000 barrier.
Some familiar voices like Toni Ghinea are still warning traders to brace for the worst, while others are saying that this is only the beginning of a lengthy bull run, proving that Bitcoin is never beyond suspicion at its highs. Which one is it going to be? All we can do is wait and see.
Cryptocurrency News Today: Decentraland (MANA) To Reclaim the NFT Top Spot, But Will it Hit $1 in January 2023?
The Decentraland (MANA) price has seen a significant increase since the beginning of the year, indicating its potential for further growth. The price had been heavily trading within a descending trend since the market collapsed in May 2020.
However, after reaching a bottom below $0.3 just before the end of 2022, the MANA price broke through the crucial resistance at $0.6 and reached yearly highs around $0.758.
The upward trend was initially fueled by bullish market sentiment as the Bitcoin price rebounded, along with a significant increase in GitHub activity. Additionally, a major boost came from the announcement of a collaboration between the “Australian Open” tennis tournament and Decentraland.
With the current upward trend in the Decentraland price, the question remains whether the bullish momentum will be sustained and reach the next target of above $1.
The price has broken above the descending trend line it had been following throughout the second half of 2022 and is currently trading within these gained levels, leaving little room for bearish actions.
The bullish pressure has accumulated heavily due to which the price may maintain a notable upswing to reach the initial target close to $1 very soon.
In the meantime, the whale accumulation has intensified which had dropped heavily soon after the collapse of the FTX exchange. Whales holding tokens in the range of 100 million to 1 billion have become active.
However, it should be noted that a significant portion of the supply, around 50% around 1.23 billion, is held by whales who have been accumulating since December 2022. These whales hold nearly 1% of the entire circulating supply and may have a major impact on the upcoming MANA price rally.
This means that a pullback may be expected if these large holders begin to liquidate their holdings, as they did following the collapse of the FTX exchange. Therefore, the possibility of a short-term bounce appears high, which may trap bulls for a longer period in the coming days.
Here Is How Shiba Inu Could Hit $1
Shiba Inu, the popular meme currency right now, has been making news for a few weeks now. Shiba Inu is witnessing some massive price hike, especially on January 14, 2023 when the currency managed to eliminate a zero from its value in just one night. Since 2020 the year when this Dogecoin killer was introduced, Shiba Inu has claimed 11430362.4%
Currently, Shiba Inu is changing hands at $0.00001043 after a surge of 3.84% in the last 24hrs.
High Hopes On Shiba Inu’s Shibarium
Now, as SHIB is making some notable developments, various investors and traders are looking forward to Shiba Inu making a move towards $1. However, the lack of social media buzz is posing as an obstacle towards its massive spike. On the other hand, it is being reported that few whales hold massive SHIB coins which might be sold off anytime. If those whales decide to sell off their holdings, Shiba Inu will face a huge pull back. Moreover, the meme currency has a huge circulating supply which needs to be burnt to create a scarcity.
It was in 2021 when Shiba Inu introduced its burn portal which sends 2 SHIb coins to a dead wallet, but this process is not helping to reduce the supply.
At the moment, burning massive Shiba Inu, expected to be delivered by Shibarium, is the need for an hour which will fuel Shiba Inu’s price rally. For example, if 90% of SHIB is burnt leaving 50 trillion in circulation. Now, if SHIB makes it for $1, then its market cap will be $50 trillion. Hence, SHIB has to burn 99% of its supply so that it drops to billions or millions. Nevertheless, with Shiba Inu’s Layer-2 blockchain, Shibarium launch being just around the corner, hopes for some positive developments are high.
Bitcoin Bull Trap: BTC Price To Hit News Lows in Coming Months Warns Analyst
Popular and pseudonymous cryptocurrency analyst il Capo of Crypto (Twitter: @cryptocapo) believes an imminent capitulation is awaiting the industry despite the recent Bitcoin rally above $21k. Addressing his 705.6k Twitter followers, the analyst highlighted several scenarios for top crypto assets. Generally, the analyst indicated that the base consolidation in the past few months is weak to guarantee a strong parabolic crypto move.
As such, a crypto market correction below the previous lows is imminent according to the analyst.
“Bitcoin is in a ltf parabolic move. But there’s a problem for bulls. This move is already overextended. The base of the parabola was weak, and when this ltf trend breaks it often results in sharp declines and full reversals,” the analyst indicated.
In conclusion, the analyst indicated now may be a good time for short-term traders to protect profits before a $12k surprise. Moreover, Bitcoin price already broke the 2017/2018 ATH, which is a strong factor in bearish sentiment.
Bitcoin and Crypto Market Outlook
The crypto market has enjoyed relief from FTX and Alameda’s fallout and also the 2022 bear market. The Ethereum (ETH) market has surged over 21 percent in the last seven days to trade around $1,565 on Monday. Nonetheless, the asset is still 67.7 percent lower than its ATH set on November 10, 2021. The bitcoin market, on the other hand, is down approximately 69 percent from its ATH.
Meanwhile, the Solana ecosystem is enjoying the crypto FOMO rally with a modest growth of about 145 percent in the past fourteen days. While Solana network was the most hit by the FTX implosion – down over 90 percent since ATH – Santiment believes the recent rally is fueled by liquidated shorts.
Here’s When Bitcoin (BTC) Price Will Hit $1 Million: Plan B Predicts The Timeline
Bitcoin (BTC), the cryptocurrency with the largest market cap, has been experiencing a relief bounce since the beginning of the year. The crypto market as a whole has been able to recover from the terrible decline that occurred in 2022 because of the current price rebound.
Over the course of the last day, the asset has seen a phenomenal increase of 11%. The token even managed to breach the important $21,000 price threshold briefly.
A 4600%+ Price Increase For BTC?
As per the quantitative analyst PlanB, he thinks that Bitcoin hit a bottom of around $15,500 in November of 2022, and short-term investors are now in the profit zone, which is a generally positive indication. PlanB claims this is a hint that the price of Bitcoin will continue to rise.
According to the quantitative analyst, he also predicts that the flagship cryptocurrency asset would fly beyond $30,000 around the time of the halving in 2024, followed by a parabolic increase in 2025.
The future bull market, based on the quantitative analyst’s predictions, will have a broad range, and it is possible that the price of the flagship cryptocurrency asset may reach up to $1 million. This is an increase of around 4,689% from the current rates.
PlanB’s chart:
The analyst further said:
“I think the bull market range will be $100K – $1M but many people don’t understand the wide margins (or the volatility that creates them) so I pinned it at the indeed comfortable $100K.”
Wrapping up
The price of bitcoin continues to be a major factor that keeps investors optimistic about the market. Despite this, there is still a potential for a sharp reversal from the positive sentiment that has emerged in recent days.
In related news, according to data from companiesmarketcap.com, Bitcoin’s market capitalization has surpassed that of banking giant Mastercard and social networking giant Meta.
After months of relatively stable prices, the cryptocurrency market has experienced a resurgence, with bitcoin surpassing well-established companies such as Meta Platforms, Eli Lilly, and Chevron. As of this writing, one bitcoin is valued at $20,475.
Bitcoin Price Prediction: BTC Price To Hit $30K in the Next 10-15 Weeks – Ben Armstrong
BitBoy Crypto, also known as Ben Armstrong, a contentious YouTuber, and influencer in the cryptocurrency world, has taken to Twitter to make a prediction about the price movement of Bitcoin this year.
BitBoy’s Latest Observation
BitBoy has noted that he is pleased with the positive sentiment in the crypto world, as Bitcoin recently surpassed the $18,000 and $19,000 marks on January 12th. However, the influencer does not anticipate Bitcoin reaching new all-time highs this year, but rather expects strong rallies in its price.
BitBoy predicts that Bitcoin is at the beginning of a run-up that could drive the value of the cryptocurrency to $25,000 or potentially even $30,000 within the next 10 to 15 weeks. He based this prediction on the current market conditions.
Bitcoin Appears Bullish
The recent turnaround in Bitcoin’s price has brought a dominant positive momentum, with the cryptocurrency trading above its 200-day moving average. This has given buyers reason to believe that they can purchase more Bitcoin at a lower price than its current trading value.
During one of Bitcoin’s bull runs, the cryptocurrency caused significant losses for bears by forcing the liquidation of short bets worth millions of dollars. According to Coinglass, the total for just January 14th was over $125 million, while the period between January 11th and 14th resulted in nearly $300 million in short liquidations.
Despite some difficulty for buyers in taking control of the market, Bitcoin is currently trading in a bullish pattern. The price needs to be pushed back up to $21,000 before sellers can consider their efforts successful.
Dogecoin To Moon in 2023? Will DOGE Price Hit $0.1 Anytime Soon?
Dogecoin (DOGE) price is on the precipice of obliterating gains made last October when Elon Musk finalized the $44 billion acquisition deal of Twitter Inc. The meme lord has moved from trading as high as $0.155 last November to $0.076 on Wednesday, representing a decline of about 50 percent.
However, several analysts think the Dogecoin price is preparing for a mild pump toward $0.1 soon. Moreover, Dogecoin price has risen approximately 8.8 percent in the past seven days according to market data from Coingecko.
Notably, the Dogecoin price is under the watchlist of most crypto analysts due to its vibrant online community. Furthermore, on-chain data indicates Dogecoin is held by 5,168,753 global crypto users. Additionally, the second largest proof-of-work (PoW) secured blockchain enjoys a hashrate of approximately 621.8 (TH/s).
Coupled with increased FOMO following this week’s crypto pump, analysts believe Dogecoin will rise soon. Furthermore, Solana’s recently launched meme coin BONK has gained over 22 percent in the last seven days.
Dogecoin has a market capitalization of approximately $10 billion and a 24-hour trading volume of about $489 million. According to aggregate data provided by Coinglass, total Dogecoin liquidations on all exchanges in the past 24 hours stand at approximately $630k.
As such, crypto analysts indicate Dogecoin price has lots of upside due to increased on-chain activities.
Closer Look At Doge Market Outlook
Even though Dogecoin is a leading meme coin, the digital asset is poised to receive hefty regulatory attention following the FTX and Alameda implosion. For instance, Nepal’s Telecommunications Authority has instructed all internet service providers (ISPs) to prevent all crypto-related activity.
Nonetheless, the meme coin is likely to be listed under Twitter’s Coins feature as outlined by tech blogger Jane Manchun Wong. According to Wong, Twitter will partner with online payment company Stripe to enable coin purchases seamlessly. With the Coins payment feature, Twitter users will be able to tip content creators and store balances in their wallets.
As such, the Dogecoin community believes Musk will favor the meme coin on the Twitter Web3 deal as he did with Starlink payments. Furthermore, Doge’s godfather has been a strong supporter of the meme coin for years through his tweet campaigns.
Bitcoin to Hit $19K in the Next 10 Days & $25K in February 2023!
Bitcoin price has been largely bullish since the beginning of 2023 and after recording a series of bullish candles, the bulls apparently look exhausted. Therefore, if the bulls lose out their strength, then the possibility of a healthy upswing remains may be halted for a while. However, it appears that the price corrections are just to attract more liquidity over the platform which is more required to uplift the price to reach the desired target of $20,000 very soon.
The BTC price since its trend reversal from the lows below $15,000 appears to follow a pattern of maintaining an upswing along the lower trend line. Ever since the beginning of the year 2023, the price has been incremental and much above the trend line. This indicates the growing strength of the bulls and being self-assured of laying down a firm upswing to reach the levels at $19,000 in the next 10 days.
The current trade set-up flashes bullish signals as the price is preparing to move beyond $19,000 any time from now. The RSI is displaying a steep upswing due to which the price is believed to remain inflated for a longer time frame. However, $19,000 has been a strong support zone previously and hence may hold the prices, if cleared these levels well in time.
Furthermore, on achieving $19,000, the path towards the higher targets becomes pretty clear. The next destination of the BTC price could be $20,000 and after securing above these levels, a notable upswing may uplift the price close to the pivotal resistance at $25,000.
Once the Bitcoin (BTC) price manages to secure levels above $25,000, the bears could have lost ground for a while as the resurgence of the bullish trend may uplift the price beyond $30,000 in the coming days.
When Will Bitcoin (BTC) Price Rally To Hit $50,000? Here’s The Time-Line
Bitcoin price after a repeated attempt finally rose above $17,000 and marked the interim high at $17,285. The price experienced a huge influx of buying volume that strengthened the bulls to rise beyond the interim targets. In the coming days, the BTC price is believed to repeat previous trends that had ignited a notable bullish trend to mark the highs.
Presently the price is closer to replicating the rally that it underwent in 2018/19 and if it comes out to be true, then the BTC bottoms may be in. The price has been forming similar rebounds and flips as it happened in 2018 and hence assumed to rise high to reach close to $50,000 by the end of H1 2023.
The price after reaching 2018 highs, slid down and traded within a bearish descending triangle. It further ranged within a parallel consolidation and after marking the bottoms, flipped and rose significantly to mark interim highs close to $13,500.
Further, a steep bearish wave dragged the price lower to mark the lows close to $5000 in March 2020. From here, it began a steep upswing to ignite a bullish trend to reach levels above $60,000. However, after experiencing a minor pullback, the price regains bullish momentum to reach the present high close to $70,000.
A similar trend is believed to be replicated the in the coming days as the price has dropped below after breaking from the descending triangle. Presently, the price is consolidating along the lower support, and appears that the bottomless may be in now.
Therefore, the BTC price with a significant upswing may eventually rise close to $50,000 and woefully may witness a drastic drop back towards $20,000 somewhere in 2024. But for now Bitcoin price prediction for 2024
Will XRP Price Hit $0.36 In the Next 24 Hours?
In the last 24 hours, XRP has made a minuscule increase, moving closer to the $0.35 threshold. At the time of this writing, one token is worth $0.3452, representing a 2% increase over the course of the last twenty-four hours.
The little uptick takes place after the token’s price saw a severe drop earlier in the day. The price fell from $0.3394 to $0.2998 in less than half an hour, which means that XRP saw a decline of an astounding 12% over that time period.
After recovering a significant portion of the unexpected price drop, XRP is now up against a price barrier of around $0.3444, which has not been broken through as of yet. The release of one billion XRP from Ripple’s escrow account, which took place yesterday, Sunday, is one event that often attracts the attention of XRP investors on the first of the month.
It seems quite doubtful that this was the reason for the dramatic drop in price, given the circumstances. Although the community has been aware of the activity for many years, there was still an element of surprise when it occurred this time.
In a related development, on the first day of the new year, WhaleAlert published a report stating that a total of one billion Ripple (XRP) tokens were freed from escrow accounts. Instead of being released straight from Ripple’s escrow accounts, the tokens were released from unidentified accounts. This is an anomaly.
The coins that were previously frozen are reportedly being stored at addresses that are controlled by Ripple. This information comes from Bithomp. The tokens have not been transferred to any exchanges or other on-demand liquidity (ODL) platforms; they are still stored in the wallets that were previously mentioned.
If XRP’s price rises steadily, the next barrier to look out for is around $0.3664, which is the second big resistance level. It may find support around $0.3333 if it can’t break over $0.3454. It seems unlikely that the price of Ripple’s token will drop below $0.3250 without a substantial decline in value.
However, the aforementioned support and resistance levels may change depending on the outcome of the SEC’s legal lawsuit against Ripple. However, the court’s decision might render these thresholds irrelevant or cause them to change. Let’s see what happens next!
Will Bitcoin (BTC) Price Hit ATH in 2023? Here’s What Popular Analysts Predict
This year has been difficult for cryptocurrency investors. Many are wondering if the situation will improve in the coming year. After the Terra Luna and FTX disasters, what are industry participants and new blockchain companies excited about for 2023?
In addition to a loss of trust in crypto, prices have declined due to rising inflation and interest rates.
What’s in line for Bitcoin in 2023? Here’s what experts say.
Crypto analyst and trader Jason Pizzino recently warned that it is not certain that Bitcoin will reach a new record high like it did in previous bull cycles.
In a video to his 279,000 YouTube subscribers, Pizzino stated that for Bitcoin to reach a new all-time high during the next bullish phase, it must reach a critical Fibonacci retracement level and surpass certain thresholds. Pizzino also mentioned that it is currently impossible to predict a new all-time high for Bitcoin.
According to his guidelines, a Bitcoin all-time high would be impossible until the price rises above $34,500, which would represent a 50% increase.
Can Bitcoin reach a new high in the next bull market?
Jason Says It Might Not Be Possible- here’s why.
Breaking the barrier: In order to substantiate his assertion, he stated that this is the Fibonacci level that corresponds to the 50% between the all-time high and the all-time low; and the all-time low for Bitcoin is essentially $0 at this point. Therefore, a deficit of $34,500 must be made up.
Return of Macro players: In addition, Bitcoin needs to break above its monthly swing tops in order to demonstrate that buyers are beginning to return to the market. For the macro players, that is going to be a significant point of confirmation.
If and when that happens, he predicts that there is a good chance that Bitcoin will reach a new record high.
The Worst-Case Scenarios
According to Pizzino, the first worst-case scenario for Bitcoin is if its price reaches $45,000 during the next cycle. It would be even worse if the flagship cryptocurrency bottoms out at around $15,000.
In this case, the second worst-case scenario would be a potential 200% climb from that low, which could bring the price to about $45,000, in line with some of the recent tops.
Bitcoin (BTC) Price To Hit $100K – Popular Analyst Bobby Lee Predicts Timeline
The cryptocurrency market still aspires to move past the mistakes of the past, despite the fact that 2022 was an eventful year with many tragic events. Many analysts had previously expected that bitcoin would reach a fat six-digit target by 2022, but it appears that they have since gotten impatient because of the current market scenario. However, finally, someone has addressed the failed $100,000 prediction for the largest cryptocurrency by market cap.
A veteran in the Bitcoin industry, Bobby Lee said that he does not consider himself to be a “know-it-all when asked about his failed $100,000 prediction for Bitcoin. In October of last year, Lee predicted that there would be an important rally fueled by FOMO that would send Bitcoin past the $100,000 threshold before the end of the year.
In an interview with CNBC, the veteran said, “Unfortunately after peaking out at $69,000, the bull market was over, and now we are in the deep of a crypto bear market…It’s unfortunate, but these are the cycles.”
When Will the Bulls Take Charge?
Similar statements were made by Lee towards the tail end of 2019 to commemorate the debut of his new Ballet bitcoin wallet. He claimed at the time that a price point of $100,000 was doable in a different bull market.
The king coin was trading for $46,406 on December 20, 2021, and it has lost more than 63% of its worth so far this year. Thanks to the Terra collapse, multiple bankruptcies, and the FTX fiasco. Bitcoin is still showing minimal to no change and is still below the $17,000 mark. Following its brief ascent to above $18,000 last week, bitcoin quickly reversed course and started to lose value.
Thus, uncertainty regarding the next prospective bull run hangs over the cryptocurrency industry. According to Lee, before the cryptocurrency market experiences another bull market run, this bear market will last until the beginning of 2025.
Traders! Prepare For A Bitcoin Bull Run Soon, Price To Hit $80k In 2024
Bitcoin price has slashed its volatility to a large extent and hence, the price variation remains within a very narrow range. From the past couple of days, the price has been capped below $16,800, displaying fewer possibilities of a firm upswing. Therefore, it appears that the price is closely accumulating gains to range extremely high in the upcoming days.
One of the well-known analysts, Invest Answers, says in his new video update, that the BTC price may soon ignite a 3x bull run. The upswing is expected to raise the price beyond the current ATH at $69,000 and hit $80,000 levels somewhere in 2024.
“ I’m sticking with a much more conservative price of $80,000 for the next cycle. That would be sometime in the year 2024.
I do believe we could hit about $61,000 by April 2024- and that is right at the halving of April/May 2024,”
After the 2021 bull run, the Bitcoin price soon fell into a deep bearish well and discovered new lows through the year 2022. However, in the 2-week time frame, the MACD is about to undergo a bullish crossover. The crossover is occurring when the signal line is trading below zero which usually marks the end of every bear cycle.
However, in the short term, the Bitcoin (BTC) price is rebounding from its interim support zones at $16,600 and appears to be gearing up for the next leg up.
With the next upswing, the price is believed to reclaim $18,000 levels initially and later withstanding the bearish interference, may range high to reach $22,000 by mid of Q1 2023.
Bitcoin Price To Hit This Level By End of 2022! Analyst Maps Next Levels
As traders embraced the possibility that there might not be a Santa Claus bounce in 2022, asset prices on Monday continued to be impacted by last week’s Fed-inspired downturn. While other significant digital assets follow, the price of Bitcoin keeps declining.
BTC is struggling to regain bullish momentum and appears to be in danger of dropping back to its yearly lows. To stop the further decline, bulls must hold the line around roughly $16,200 to $16,500. Rekt Capital previously stated that maintaining the $17,150 level for Bitcoin will be essential. The price of Bitcoin might move toward $13,900 if it ended the month below the support level. Additionally, Bitcoin price must breach the $18K-$19K area in order for a major rally to occur.
Crypto analyst Michael van de Poppe believes that if Bitcoin breaks the $16,900 barrier, it might have a strong rally. Additionally, maintaining support around the $16.5K level for Bitcoin is crucial for the price surge to $18K.
On-chain data hints at a sell-off
A rise in volatility is predicted for the upcoming week according to data from Material Indicators. The U.S. will release information about its labor market on Thursday. If the economy of the nation remains robust, the Fed will have the backing it needs to keep raising interest rates.
According to on-chain data, people who have held bitcoin for a short period of time, namely 3-6 months, are currently dumping their holdings. A selloff by Bitcoin holders with a holding period of three to six months was what caused the Monday price decrease in BTC. Spent Output Age Bands rise for 3-6 month holders has historically been followed by significant downward fluctuations. In reality, a sudden change took place immediately before the FTX crisis.
Binance Price Analysis: BNB/BTC Will Hit New Lows in 2023, Predicts Analyst
While Binance and Bitcoin are both losing grounds in the cryptocurrency market, one analyst believes the BNB/BTC pair will reach a low in 2024.
According to analyst Jason Pizzino, Binance Coin (BNB), the utility token of the world’s largest crypto exchange, is likely to reverse its trend on the Bitcoin (BTC) chart. He said that Binance Coin (BNB/BTC) may have reached a peak against Bitcoin (BNB/BTC) following a nearly two-year bull run.
“We’ve just started our first major month down to put in a potential top here on BNB/BTC. And this could last two years from that point,” he said.
He also said that BNB has shown similar bull and bear tendencies against Bitcoin since the pair’s introduction in 2017. From July 2017 through April 2019, the period lasted 21 months and he highlighted that Bitcoin reached a peak around June 2019 from that moment.
BNB then declined for 21 months against BTC value, reaching a low in January 2021 before rising to a peak in November 2022. So he said that no one can deny that there hasn’t been a definite bull and bear pattern for the past 21 to 22 months.
“Should this repeat, we have 22 months or 21 months to take us to around August of 2024. And if we wanted to go out for that 22 months, then it’s going to be around September of 2024.So sometime around August or September of 2024, this [BNB/BTC] chart may find a bottom.”
Binance’s native token, BNB, is the top trending cryptocurrency in Binance’s search bar, while Bitcoin, the most popular cryptocurrency in the market, is ranked second. According to the latest data from Crypto Differ, the ‘unknown’ token, HOOK, has risen to fourth place with a 5.1% increase in market price.
Shiba Inu Price 2023: SHIB Price Poised To Hit New Lows, Here’s Why
The price of SHIB surged to a new all-time high in October of 2021. However, from that point on, everything for SHIB holders got worse because of the poor macroeconomic environment and the instability in the cryptocurrency market. With its prices falling by more than 70% in 2022 due to high-interest rates and other factors, SHIB has had a terrible year.
Trader il Capo Of Crypto recently said that SHIB would reach a new low in 2023. Taking to Twitter, he predicted that the price of the SHIB coin will fall all the way to $0.00008616. In October 2021, the SHIB price reached a brand-new record high. Another trader agreed with Capo and replied :
“Agreed, SHIB has a very aggressive bear target, like ~95% below current levels according to its H&S pattern.”
On the flip side…
Despite the underwhelming performance of SHIB coins and the negative mood of the crypto industry, the project and its community have made numerous substantial steps to drive utility and support additional use cases.
Starting with the introduction of the P2E-based Shiba Racing Game, the Layer-2 Blockchain solution known as Shibarium, and the SHIB Metaverse. Shiba Inu is one of the most searched cryptocurrencies this year, according to the most recent research in 2022, which was done by Google search engines directly.
There was a recent tweet from SHIB Super Store, that Travis Johnson, a game developer, used the official SHIB Burn Portal to send a massive 32,314,923 (32.31M) SHIB to the dead wallet in one single transaction.
Shiba Inu’s burn rate increased by only 32.87% over the previous day as a result of the mentioned burn transaction. According to data given by Etherscan.io, 10,410 new holders have joined the Shiba Inu Community just in the last two weeks.
Bitcoin (BTC) Price at the Foothill of Massive Explosion-Primed to Hit $50,000 in May 2023
The crypto markets appear to have reached the final capitulation phase as the prices after forming an interim high, are falling apart. Bitcoin price which was trading within a bullish trend during the past week has scrambled down with a deep bearish trend soon. The technicals also flash bearish signals and due to this, the BTC price appears to shed some of its gains very soon.
In the meantime, the prevailing descending trend is believed to set a trigger for a massive uptrend soon. However, before the price begins with a notable upswing, a minor plunge is expected to drag the price below $16,500 which may ignite a significant upswing soon. As per a popular analyst, the BTC price is believed to be a significant bull run, by the end of Q1 2023.
In the short term, the BTC price had risen above the bearish descending triangle, displaying the possibility of igniting a notable upswing soon. As per the current forecast, the BTC price is believed to ignite a notable upswing and maintain an ascending trend for the next 6 months. The analyst also believes that the upcoming 45 days may witness extreme consolidation for the token and the entire crypto space.
Further by the end of January 2023 or early February, a breakthrough impulse may occur which may keep up a bullish trend until the mid of May 2023 which may rise the Bitcoin (BTC) price close to $45,000. At the same time, the analyst also believes that the altcoins may also shoot up which is pivotal to setting up a bullish trend within the crypto space that may attract strong hands back into the space.