Liquidity Crunch Looms: Bloomberg Analyst Predicts Further Decline for Bitcoin
Amidst growing concerns, Bloomberg Intelligence’s senior macro strategist, Mike McGlone, cautions that the worst may not be over for Bitcoin (BTC) as recessionary headwinds could push the cryptocurrency lower.
How recession will hit the entire crypto space, do we see more bloodbaths? Let’s hear McGlone’s version.
Bloomberg Analyst’s Bitcoin Liquidity Forecast
In his latest Crypto Outlook edition, McGlone predicts a liquidity crunch in the second half of 2023, fueled by the anticipated US recession.
McGlone highlights the possibility of a liquidity crunch, indicating that Bitcoin’s current state may not be at its bottom. He suggests that June could either witness a continuation of the first-half rally or roll over into a US recession. With markets appearing to have priced in optimistic outcomes from aggressive central bank rate hikes, McGlone believes the latter scenario is more likely.
First-Half Hope or US Recession?
While recent market bounces have provided some relief, McGlone remains skeptical about their sustainability. He notes the transient nature of the rising Nasdaq 100 Stock Index’s ability to lift all market assets, including Bitcoin. Citing downtrends in the 100-week moving averages of both the stock index and Bitcoin, McGlone questions whether the worst is truly over or if the market should respect the prevailing downward trend.
McGlone’s concerns extend to the broader market, as he emphasizes the potential reversal of liquidity pumps that are still dumping assets. He points to the Federal fund’s futures in one year (FF13) as an indicator of this ongoing dumping. He further suggests that a decline in equities may be necessary for interest rates to fall, reinforcing his perspective on the market’s downward trend.
Bitcoin’s Risky Ride at $7,000?
Having previously warned of Bitcoin potentially dipping as low as $7,000, the analyst reiterates his stance, stating that an expected US recession could further push risk assets, including Bitcoin, downward. He highlights Bitcoin’s high of about $30,000 in 2023, relative to the 100-week mean of around $33,000, suggesting the cryptocurrency may experience gravity from the comfort zone of around $7,000 before the unprecedented liquidity boost of 2020-2021. The impending US recession, which has yet to materialize, could put additional pressure on risk assets.
As of the time of writing, Bitcoin is trading at $27,074, with a marginal increase of 0.7% over the past 24 hours.
Here’s When Traders Can Expect Bitcoin Bull Run 2023 – Arthur Hayes Predicts Timeline
Despite recent fears about the US regional financial crisis, the crypto market has shown signs of stability, suggesting a correction phase after two big gains since 2023. The US debt ceiling deal has prevented another Bitcoin price spike, but industry analysts are confident about the cryptocurrency market’s future.
Despite the turbulence in the banking sector, Bitcoin has demonstrated resilience, maintaining a steady course amidst regional banking concerns. This stability has provided a sense of reassurance to investors and traders who closely follow the cryptocurrency market.
Arthur Hayes, renowned for his expertise in the field, has presented a pragmatic forecast for Bitcoin’s growth in the coming months. Recognizing the importance of patience and monitoring the actions of the US Federal Reserve, Hayes suggests that the bullish path for Bitcoin could gain momentum by October 2023. His analysis centers around the potential impact of increased dollar liquidity on the US economy, leading to the acquisition of risk assets like Gold, Bitcoin, and AI tech stocks as he mentioned in his blog post.
Understanding the Factors Behind
Notably, Hayes’ projection takes into account the current economic landscape and potential market catalysts. By assessing the influence of the US Federal Reserve’s interest rate policies and the broader implications of dollar liquidity, he suggests that Bitcoin’s growth is likely to align with these factors.
Late in Q3 and early in the Q4 of 2023, Hayes expects the real Bitcoin bull market to commence. Despite acknowledging the possibility of price fluctuations, Hayes firmly states that retesting the $20,000 mark or similar levels is unlikely.
Based on Hayes’ predictions, it is reasonable to expect Bitcoin’s price to remain within its current range, with a potential floor above the $23,000 mark even in the worst-case scenario. It is crucial for crypto investors to consider Hayes’ forecast alongside the countdown to the Bitcoin halving event, scheduled to occur before June 2024, aligning with the timeframe he has provided.
AI Chatbot ChatGPT Predicts Tradecurve Price Shiba Inu Burn Rate Surges 1500% In 24 hours
The cryptocurrency market is full of surprises and rapid fluctuations. Today, we explore the contrasting developments in the last 24 hours. While ChatGPT, an artificial intelligence (AI) chatbot, provides insights into the price prediction for Tradecurve (TCRV), a significant surge in the burn rate of Shiba Inu (SHIB) was witnessed within a short span of 24 hours. Let’s dive into the details and uncover the potential implications for these two projects.
- Shiba Inu (SHIB) sees a price rise after burn rate surge
- ChatGPT claims Tradecurve (TCRV) could boom soon
- Tradecurve’s ICO expected to see a 100x increase
Shiba Inu (SHIB) experiences a burn rate increase
Shiba Inu (SHIB), another meme coin based on the same dog breed as Dogecoin (DOGE), emerged as a rival in the cryptocurrency market shortly after Dogecoin’s breakthrough. The massive and devoted Shiba Inu army of users has once more shown impressive results in the burning sector.
In the previous 24 hours, they have taken approximately 225,049,340 SHIB coins out of circulation. According to the information given by the Shibburn tracking platform, these efforts have increased the Shiba Inu burn rate by about 1,500%.
This increase in burn rate has caused the Shiba Inu token value to see a slight rally as it trades hands at $0.000008839 with a market cap of $5.2B, which is a rise of 1.36% in the last day alone. Experts remain bullish for Shiba Inu, predicting it reaches $0.000009098 by December 2023
Tradecurve (TCRV) to see fantastic price growth as per ChatGPT
While Shiba Inu is still having difficulty seeing any major price movements, with many holders slowly losing their confidence, Tradecurve (TCRV) has already experienced a 50% rise from its starting price of $0.01. This Stage 3 presale has become a point of discussion for both market experts and investors, as it could disrupt the online trading industry.
By creating a borderless, hybrid trading exchange where users may trade all derivatives on one account while remaining completely anonymous, Tradecurve has the potential and ambitions to leave traditional trading platforms such as OKX and Robinhood in the dust.
Moreover, traders can utilize their cryptocurrency assets as collateral and for payments, something rarely seen in the current trading market. Users may just create an account using their email, link a crypto wallet to it and begin trading – eliminating the need for sign-up KYC checks and offering a fully private trading environment for all traders.
Those who are just beginning their trading journey can utilize AI algorithmic trading bots or copy trades from other veteran traders by subscribing to them. If anyone wishes to learn new strategies, they can also enrol in the metaverse trading academy that Tradecurve will launch soon.
Currently, the Tradecurve utility token, TCRV, is in Stage 3 of its presale and has a value of just $0.015. Only 40% of the 1.8B token supply is available during its presale, and demand is high. With millions of tokens already sold, experts predict that a 50x increase will be in store for TCRV as the presale advances. Although ChatGPT cannot predict future valuation, it did point the finger at the markets that Tradecurve will tap into. Take the forex market, for example; it was valued at $753.2B in 2022 – just capitalizing off of 1% of it may generate millions.
Because of this, a 100x increase for the TCRV token may not be out of the question when the token launches since a major Tier-1 CEX or Unsiwap listing is expected.
For more information about the Tradecurve presale:
Website | Buy TCRV Presale Tokens | Twitter | Join Community on Telegram
Veteran Trader Tone Vays Predicts Massive Bitcoin Breakout- Here Are His Targets
In a recent strategist session, seasoned crypto trader Tone Vays shared his insights on Bitcoin’s current market conditions and its potential for a price surge. With his vast experience in the industry, he outlined key factors to watch for in Bitcoin’s journey toward an upward trend in his recent video.
According to Tone Vays, “It really is time for Bitcoin to rise. I prefer new highs. I prefer breakouts.” Let’s delve into his expert perspective and examine the important details.
Vays emphasized the significance of Bitcoin surpassing its immediate resistance levels. While acknowledging the lack of bullishness from a weekly perspective, he pointed out the need for Bitcoin to break through these resistance levels to signal a stronger market momentum and a call for a rally.
Catalysts for a New High
After crossing $30,000, Vays expects Bitcoin to reach a new yearly high. He noted that a push above $30,000 could be met with opposition at $34,000. The Lucid SAR, a directional trend indicator, must be reversed for a positive indication, according to the analyst.
Also Read: Bitcoin Price Prediction For June : Analyst Points Out Potential High & Low Levels – Coinpedia Fintech News
As of the time of writing, Bitcoin is trading at $27,750, experiencing a minor decline of over 1.5% in the past 24 hours. However, it has recorded a gain of more than 2.5% over the past week. These market fluctuations indicate the ongoing consolidation phase Bitcoin is currently navigating.
Bitcoin’s Next Move
Bitcoin traders and enthusiasts eagerly await the cryptocurrency’s next moves as it strives to regain its upward momentum. The upcoming resistance levels and the importance of sustained strength will play a pivotal role in determining Bitcoin’s trajectory in the near future.
Ripple Vs SEC: Pro-XRP Lawyer Predicts LBRY’s Bold Move Against SEC Could Spell a Massive Win for XRP!
The cryptocurrency sector is currently awaiting a resolution in the prolonged Ripple vs. the Securities and Exchange Commission (SEC) lawsuit. However, legal experts have now expressed their opinions on LBRY’s recent legal action against the SEC.
LBRY, a platform for sharing and publishing content, submitted a supplemental brief in support of its motion to restrict the remedies sought by the SEC in the ongoing case of SEC vs. LBRY.
LBRY has stated in its filings that it has been actively seeking clarification from the SEC regarding the use of LBRY Tokens for several years. Despite these efforts, the commission has declined to provide a clear explanation of the token’s status, instead pursuing a broad injunction that lacks specificity and transparency.
LBRY is asking the Court to clarify that secondary sales of LBRY are not affected by the judgment.
Watch out for this ruling! as this is a possible scenario in the Ripple case with the SEC asking for a broad/vague injunction and Ripple seeking clarity from the Judge. https://t.co/mbIijIMKBH pic.twitter.com/B1WdM7lINL
— Jeremy Hogan (@attorneyjeremy1) May 26, 2023
In response to this latest development, Jeremy Hogan, a lawyer supporting XRP, urged members of the XRP community to pay close attention to the outcome of the LBRY case. He urged XRP community members to stay informed and monitor the progress of both cases closely, as the outcomes could have implications for the broader cryptocurrency industry.
He wrote, “Watch out for this ruling! as this is a possible scenario in the Ripple case with the SEC asking for a broad/vague injunction and Ripple seeking clarity from the Judge.”
Telling the court in effect it shouldn’t impose relief. If the judge decides the SEC has congressional authority to regulate digital assets it will not be helpful to Ripple and Coinbase even though it wouldn’t be a binding a decision. Whose funding the appeal. LBRY is insolvent/2
— bill morgan (@Belisarius2020) May 26, 2023
The ongoing legal dispute between Ripple and the SEC is currently awaiting a Summary Judgment. However, there has been a recent development as the court has denied the commission’s request to keep the Hinman documents confidential. This decision has sparked significant anticipation within the cryptocurrency industry, as key documents are expected to be released soon.
Solana (SOL) Price Poised for Meteoric Rise, Predicts Raoul Pal
Altcoins are experiencing market volatility due to the banking crisis. According to technical analysis and a recent bullish reversal pattern, one analyst expects Solana (SOL) to rise soon. Is it a good moment to buy Solana or should you wait till altcoins bottom out? Find out!
Raoul Pal’s Bullish Analysis
Renowned macro expert and Real Vision Founder, Raoul Pal, has just shared his insightful analysis that has the crypto community buzzing. This time, Pal’s attention is squarely focused on Solana (SOL), the 11th-largest cryptocurrency in the market. Strap in and get ready for a potential rollercoaster ride of profits!
His influential Global Macro Investor (GMI) newsletter, reveals an intriguing pattern for Solana. After carefully studying the technical aspects, Pal has become increasingly bullish on the future of this Ethereum (ETH) competitor.
So, what’s got Pal so excited about Solana? Well, he believes the cryptocurrency is poised for a major breakout, transitioning from a bearish to a bullish trend. This revelation comes on the heels of a significant event in April—a remarkable inverse head and shoulders breakout. Since then, Solana has been consolidating, setting the stage for a potential explosive surge.
At GMI, Solana has been on the radar for quite some time, and it has already delivered impressive gains, skyrocketing nearly 150% since the beginning of this year. With Solana currently trading at $19.88, the stage is set for a thrilling opportunity that could yield substantial returns for investors like you.
Global Equities on the Verge of Rally
But that’s not all! Pal’s expertise extends beyond cryptocurrencies. He also shares his insights into the global equities market, adding another layer of excitement to the mix. According to Pal, global equities are on the verge of a powerful rally.
He points to a captivating pattern—a head-and-shoulders bottom formation—that suggests a potential surge in the overall market. The key lies in the All-Country World Index (ACWI), a comprehensive gauge of large and mid-cap equities in both developed and emerging markets. If a crucial resistance level on the ACWI index is shattered, brace yourself for a remarkable surge in global equities.
Solana’s Trend Reversal
What makes this analysis even more intriguing is the completion of an inverse head and shoulders breakout in April. Following this breakout, Solana entered a consolidation phase, creating the perfect setup for a potential upward surge. He further emphasizes that Solana has been a major focus at GMI this year, and its impressive 150% increase since the beginning of 2023 speaks volumes about its potential.
Bitcoin Bulls Exhausted! Peter Brandt Predicts Massive Market Shakeup
After being rejected between $29k and $31k, it is safe to assume Bitcoin bulls are exhausted and the bears are partially in control over short-term prospects. After rallying more than 70 percent this year, Bitcoin sellers could be outweighing buyers despite the rise in global inflation. Technically, the Bitcoin weekly death cross, in regards to the 50 and 200 MAs, could be motivating the short sellers. Moreover, the Bitcoin price seems to have lost the $27k support following the recent dips.
Also Read: Bitcoin Live Price: Top Analyst Reveals BTC Price Action For The Upcoming Weeks – Coinpedia Fintech News
Bitcoin Price Analysis by Peter Brandt
According to veteran trader Peter Brandt, Bitcoin price is on the verge of further capitulation in the coming days. In his latest Bitcoin price update, Brandt noted that the top digital asset is looking at a possible shakeout before a thrust to new highs.
From the chart provided, the analyst issued two support levels that he thinks the Bitcoin price will significantly rely on. In the short term, the analyst noted that Bitcoin price could fall as far as $25k and find some temporary solace.
However, Brandt noted that if the $25k support level does not hold, then the instrument could fall as far as $18k.
In this regard, the analyst had previously warned crypto traders to be wary of a possible head and shoulder chart pattern. Brandt had outlined $27k as the neckline that Bitcoin bulls had to hold in order to ensure a sustained rally.
Bullish Outlook For Bitcoin
Nevertheless, the analyst remains optimistic about Bitcoin’s long-term growth prospects despite the current headwinds. In a recent case study, Brandt highlighted that it is only a matter of time before Bitcoin sets a new ATH.
Analyst Predicts XRP Price Resurgence: Potential 640% Surge to $3
XRP, Ripple’s digital token, may be set for a meteoric rise according to the forecast of top cryptocurrency analyst EGRAG Crypto. He cites parallels between current market conditions and the dramatic bull run from 2020 to 2021, predicting a potential 640% surge to $3.3.
Historical Analysis Of XRP Price Actions
Through chart extrapolation, EGRAG Crypto replicates the price trajectory of XRP from the previous year. The mirrored pathway respects key price targets and culminates in a projected surge to $3.3, presenting an enticing outlook for XRP investors.
The crux of this price prediction, dubbed “Pandora’s Box,” hinges on a crucial price range of $0.55 to $0.67. This interval may hold the key to the unleashing of XRP’s potential, akin to opening Pandora’s mythical box.
EGRAG Crypto’s “Pandora’s Box” concept symbolizes the challenges the XRP community may confront on their path to potentially vast riches. Borrowing from the ancient Greek myth, he outlines seven “evils” or trials that the XRP community is likely to face.
Also Read: Ripple News: XRP Price Might Surge Above $1 By August
The initial challenge, “Strife,” is currently in play, with the XRP community weathering the storm. “Disease” represents the efforts of critics to paint the XRP community as a disruptive influence, fabricating vast conspiracies. These adversaries may soon give way to “Hatred,” fueled by the resentment of those who miss out on XRP’s prosperity.
More severe trials may emerge, such as “Death,” highlighting the need for the community to protect itself amidst potential threats. “Madness” represents the incredulity of skeptics unable to process XRP’s remarkable rise, potentially leading to “Violence,” both verbal and physical, against the XRP community.
Lastly, “Jealousy” encapsulates the bitterness of those who missed out on the XRP wave, consumed by envy against the newfound wealth of XRP holders.
Bitcoin (BTC) Price: Analyst Predicts Impending Bullish Rebound
Bitcoin (BTC) enthusiasts, rejoice! The premier digital currency is showing promising signs of a bullish resurgence. With a current trading price of $27,315.23 and a notable 2.02% increase over the past 24 hours, Bitcoin is capturing the attention of investors and crypto enthusiasts worldwide.
The Key Catalysts Behind Bitcoin’s Rise
The recent surge in Bitcoin’s daily trading volume is serving as a strong catalyst for its upward trajectory. Market bulls are flexing their muscles, fueling speculation that BTC is on the cusp of a significant rebound. Renowned on-chain analyst @Ali_Charts, known for accurate predictions in the past, has shed light on a positive indicator for Bitcoin. He points to the TD Sequential indicator, which has flashed a buy signal on the daily chart, indicating an imminent bullish surge.
@Ali_Charts believes in the potential accuracy of this indicator, lending further credibility to the notion of an upcoming uptrend. However, the key lies in the support of around $26,360, which will require the support of Bitcoin whales. As these influential players navigate the market, their actions will be closely watched by investors and traders eager to capitalize on Bitcoin’s potential growth.
Is Scaling Solutions paving the way?
While Bitcoin has firmly secured its position as the leading digital currency, challenges related to scalability and transaction congestion have emerged. The recent episode of transaction congestion, resulting in increased gas fees, highlighted the need for robust scaling solutions. As the Ordinal’s inscriptions on the protocol caused temporary disruptions, the role of scaling solutions becomes paramount in maintaining Bitcoin’s stability and addressing future challenges.
However, the excitement lies in witnessing how Bitcoin’s ecosystem evolves to overcome these hurdles. Will innovative scaling solutions come to the forefront, ensuring seamless transactions and enhanced user experiences? For this, you need to eagerly await the unfolding developments.
On the flipside, Bitcoin’s price may fall to lower support levels and cause a broader slowdown in the altcoin market due to prevailing macroeconomic headwinds, leading to negative market sentiment.
While the current market conditions appear favorable, it’s important to remember that the crypto landscape is dynamic and subject to rapid changes. Investors and traders should exercise caution and stay informed about the latest market trends.
The potential for a bullish rebound is certainly enticing, but prudence and diligent monitoring are essential for successful navigation in the crypto realm. Bitcoin’s upward momentum, bolstered by increased trading volume and the TD Sequential indicator’s buy signal, indicates exciting times ahead.
Crypto Market Outlook: Expert Predicts Bitcoin & Major Altcoins To Rebound In 2023 Q3
After more than eight weeks of attempting to rally above $31k, Bitcoin bulls have succumbed to mid-term selling pressure. According to the latest crypto market data, the price of Bitcoin dropped nearly 5 percent, hitting a monthly low of around $26,188 during the early London trading session. Similarly, Ethereum (ETH), the second most valuable digital asset by market capitalization, also experienced a five percent decline, trading at approximately $1,759 at the time of publication.
Crypto Market Cap Falls, Bitcoin Dominance Declines
Consequently, the total crypto market capitalization plummeted by about 3.3 percent, resting at around $1.14 trillion on Friday, May 12. With Bitcoin’s dominance rapidly dropping below 48 percent, as indicated by market data from TradingView, crypto traders are left contemplating whether the long-awaited altcoin season is poised to materialize.
Consider Both View Points: Bitcoin Price Prediction: BTC Price to Hit New All-Time High in 415 Days, Predicts Crypto Analyst – Coinpedia Fintech News
Increasing Volatility Expected as Global Recession Fears Rise
Given the mounting probability of a global recession amid rising inflation, experts anticipate a significant increase in crypto volatility in the forthcoming months. The United States debt ceiling debate has left the Federal Reserve torn between implementing monetary tightening policies to achieve a 2 percent inflation target. Furthermore, traditional banks are grappling with the challenges posed by the Web3 industry and other fintech companies, which have been driving recent bank runs.
Related: Can Crypto Markets Survive A Massive Recession In The USA? – Coinpedia Fintech News
Short Squeeze Looms
Over the past 24 hours, more than 82 percent of long traders in the crypto market have been liquidated, according to reports from Coinglass. Consequently, these traders are likely to shift their focus to short selling, potentially fueling a long squeeze. As a result, the crypto market may experience further decline in the coming days due to increased panic selling.
The Future Is Bullish
Renowned trader and investor @CryptoTony_ on Twitter has expressed optimism about the long-term prospects of the crypto market, suggesting a potential rebound in the third quarter of 2023.
XRP Price Prediction 2023: Expert Predicts Potential High & Low Levels
The ongoing lawsuit against Ripple Labs has left many wondering about the future of XRP, the cryptocurrency associated with the company. Despite the legal challenges, finance experts have begun to speculate on XRP’s potential price by the end of 2023, taking into account its unique features and partnerships.
Experts Predict XRP’s Price by December
Investment analyst Tim Doman acknowledges the impact of the lawsuit on XRP’s price, but he also notes that recent court rulings seem to favor Ripple. This has led to positive market sentiment, as XRP boasts a number of desirable qualities. As an excellent bridge between currencies, it is open-source, permissionless, and carbon-neutral. Additionally, transactions on the XRP Ledger (XRPL) settle in just 3-5 seconds, which is an impressive feat. He expects XRP to be worth “around $0.54” by year’s end.
Another expert, Donny Gamble, highlights several reasons why XRP may experience growth in the future. Firstly, the XRP development team is working to enhance its technology and establish partnerships with major financial institutions worldwide. Increased adoption as a payment method could significantly drive growth for the asset.
Secondly, XRP’s scalability gives it an advantage over other cryptocurrencies, which will become increasingly important as demand for cryptocurrencies continues to grow.
Daniel Wilczyinski, the Founder and CEO of HardBlock, points out that several key factors will determine XRP’s future. The resolution of the SEC lawsuit is one of the most significant, as it could greatly impact XRP’s price.
Increased adoption by financial institutions and favorable regulatory developments could also boost its value. However, the competitive landscape and overall market sentiment will play crucial roles as well, says Wilczyinski. He believes the coin will end the year above $0.50.
Ripple’s Legal Battle Continues
John Deaton, a pro-Ripple lawyer, has been providing updates on the Ripple Labs vs. SEC lawsuit, with most of his comments favoring the blockchain company. Deaton argues that digital assets, including Ripple, are not securities, although they can be considered as such when traded in the primary market.
The legal expert maintains that Bitcoin and Ripple are not securities based on the Howey Test, and he believes that any interpretation that tokens are investment contracts is false. This has not been contested by the SEC.
Altcoins Hover on the Brink of a 30-50% Tumble! Here’s What Expert Predicts on ARB, APT and STG Price
The crypto market has always been a rollercoaster of fortune, a frenetic ballet of peaks and troughs that can create or destroy millions in moments. Now, it seems, the altcoin market is set to perform its most dramatic pirouette yet as they have reached the support line. According to market experts and analysts, altcoins are teetering on the edge of a significant tumble, potentially plummeting by 30-50%.
Are Altcoins in Correction Or Crisis?
Just recently, the market witnessed a slight upward correction as positive consumer price index (CPI) reports created a brief surge of optimism among investors. However, the market’s joy was short-lived, as a few hours later, it took a brutal nosedive. This sudden shift in dynamics has been interpreted by many as a classic “buy the news, sell the rumor” event.
The CPI report was a beacon of hope, an opportunity for the market to regain some lost ground. But as the saying goes, “what goes up, must come down,” and in the realm of crypto, it seems that even the briefest ascent is followed by a swift and merciless decline.
Following Bitcoin’s steep decline, the altcoin market sharply broke below multiple support levels, and traders are wondering if this is a correction or a crisis. According to prominent altcoin trader Alt Sherpa, altcoins have the possibility to drop by 30-50% from their current levels as they tumble near the support line. However, traders may witness some bounces in between.
Stargate Finance (STG) Price Analysis
As of writing, the STG token’s price trades at $0.6, declining over 4% in the last 24 hours. STG price has recently broken below its immediate support level at $0.62, and a breakout below the monthly support at $0.57 will slump the token to the bottom levels.
AltSherpa predicts that the token will experience a decline of over 43% if it breaks the support line at $0.57. STG token may touch the next support of $0.35.
Arbitrum (ARB) Price Analysis
ARB token’s price is currently hovering near $1.12, with a surge of over 1% from yesterday’s rate. ARB is trading on the verge of its monthly support level; however, bulls have successfully sent the price above the 23.6% Fib level.
If the ARB price loses confidence near $1.15, it may witness a downward correction and break below multiple support levels. AltSherpa predicts a drop of over 50%, and ARB price may head toward $0.56.
Aptos (APT) Price Analysis
Aptos has witnessed a severe plunge in the last few hours and is currently trading at $8.02, with a decline of nearly 2% from yesterday’s price. Aptos has already formed a low near $7.75 and is trying to extend its bearish rally below it.
AltSherpa predicts Aptos price may touch $4.9 if it fails to attain enough buying pressure to surge above its 23.6% Fib level.
Bitcoin Price Prediction: BTC Price to Hit New All-Time High in 415 Days, Predicts Crypto Analyst
In a recent video update earlier this week, James Mullarney, host of the popular YouTube channel “InvestAnswers,” shared a compelling prediction with his subscribers. Mullarney suggested that the price of Bitcoin could potentially reach a record high by June 2024, potentially fueled by the BTC boom before its halving.
Historical Cycles Point Towards a Promising Future
The anonymous host supports his forecast by drawing upon historical cycles, noting that Bitcoin has historically taken approximately three years to recover and surpass previous highs after each cycle. With Bitcoin currently standing at 545 days since its last all-time high, InvestAnswers estimates that there are approximately 415 days remaining until the next peak.
Price Volatility Expected Along the Way
However, Mullarney cautions that price volatility is likely to occur before Bitcoin reaches its new all-time high, citing previous cycles where the cryptocurrency has retested market bottoms.
Nevertheless, he highlights the remarkable performance of Bitcoin in the current cycle, attributing it to factors such as enhanced speed and a better understanding of Bitcoin’s value as a store of wealth.
Potential Macro Headwinds vs. Favorable Tailwinds
Despite the positive factors driving Bitcoin’s growth, Mullarney expresses skepticism about the current macro headwinds impacting the market. He emphasizes potential tailwinds, including the banking crisis, a weakening US dollar, and lack of liquidity, which could drive interest in Bitcoin and bolster its prices.
Related: Crypto Live News: Binance Battles US Regulators, Shifts Focus To UK
June 2024: A Milestone on the Horizon
InvestAnswers ultimately believes that Bitcoin has the potential to hit its new all-time high by June 2024. This prediction places the timeline a little over a year until fruition, potentially shaping the future of Bitcoin’s value.
At the time of writing, Bitcoin is trading at $27,729, reflecting a marginal decline of 0.5% over the past 24 hours. Despite the current market conditions, InvestAnswers’ optimistic outlook offers a distinctive perspective on the future price movements of Bitcoin.
Altcoin Rally Coming Soon – Michaël Van De Poppe Predicts Crypto Market Outlook For Coming Days
After analyzing the current state of the cryptocurrency market, it appears that there may be some light at the end of the tunnel for investors. Michaël van de Poppe, a prominent crypto analyst, has provided some insight into what traders can expect moving forward.
Bitcoin Nears $30K Breakout: What Can Traders Expect?
In his series of tweets, he mentioned that Bitcoin is currently trading around $27,150 and has shown a great response after reaching $27,400, he advises traders to keep an eye on the $26,800 level as an entry point. To confirm a trend reversal, it is important for BTC Price to hold above support $27,800 and break the $29,200 level by flipping.
On the other hand, van de Poppe predicts that altcoins are nearing a potential bottom, with a weekly bullish divergence in sight. Altcoin dominance in the crypto market is largely dependent on Bitcoin’s actions, and if the top cryptocurrency can break through $30,000, van de Poppe believes altcoins will finally start to kick off.
Start Accumulating Altcoins Now
In a recent YouTube update, the trader told his 163,000 subscribers that altcoin dominance is largely dependent on what Bitcoin does next.
Hence with regards to altcoins, Van de Poppe sees them getting close to a potential cycle low and encourages traders to start accumulating now and potentially sell in 1-2 years.
But before that happens, altcoins may experience one more correction post the $30,000 level, bringing them into the $42,000-$45,000 region. As a result, van de Poppe advises traders to start accumulating their positions now, as Bitcoin pairs are undervalued compared to Bitcoin’s price, leading to a potential jump from Bitcoin towards altcoins.
Van de Poppe’s price analysis comes as the crypto market continues to experience volatility. The recent sell-off has led to declines in the prices of many digital assets, including Bitcoin and Ethereum. While some investors remain optimistic about the market’s long-term prospects, others are more cautious.
However, he ended with a warning that if “Liquidity is taken from both sides, which means the chop continues.”
PEPE Price Will Eventually Collapse Dropping To “ZERO” – Predicts Top Analyst
DonAlt, a pseudonymous trader has warned his Twitter followers that the memecoin Pepe (PEPE) – a Dogecoin and Shiba Inu rival – is headed towards a total collapse and will eventually be worth nothing.
DonAlt’s prediction comes after Pepe experienced a meteoric rise of 2400% in value in just a matter of weeks, only to plummet soon after. According to DonAlt’s chart, the memecoin’s value is likely to hit zero in three-to-five years, leaving investors with nothing to show for their initial investment.
Why PEPE Price Dumped after the rise?
Sharing similar sentiments others too believe meme coins like PEPE are just hype and will eventually drop to “zero” due to their inability to withstand global crises. Many also view them as a distraction from Bitcoin. Despite early investors making a significant profit of up to 5807.64%, there is no fundamental basis for holding the coin long-term. After Binance’s listing, Pepe’s euphoria led to overvaluation. However, many were unconvinced and dumped.
Bitcoin’s Bleak Outlook
But it’s not just Pepe that DonAlt has his eye on. He also weighed in on Bitcoin’s future value, predicting that the king of cryptocurrencies will continue to dip in the near term. DonAlt cited the US government’s crackdown on cryptocurrency as one of the main factors influencing BTC value.
Furthermore, he is still bullish on Bitcoin’s potential and plans to reinvest once the anti-crypto push dies down.
“At $16,000, we were so deep in that the apocalypse could have struck and we wouldn’t have blinked. However, at $30,000, things change.”
Despite the trader’s warnings, Pepe’s value continues to trade at $0.00000159 as of writing, down 16.1% over the past 24 hours. Meanwhile, Bitcoin is trading at $27,161, down 3.9% during the same time period. Echoing a similar sentiment BTC is also rising slowly and steadily.
It remains to be seen whether DonAlt’s predictions will come to pass, but they have certainly captured the attention of crypto investors worldwide.
Altcoins To Plunge: Analyst Predicts Major Downturn For MATIC, ETH & BNB Price
From inflation shocks to meme coin mania, the cryptocurrency world sees a week of surprises.
As the crypto market continues to experience a downturn, prominent analyst Bluntz warns investors about the potential downside for altcoins. Let’s delve into Bluntz’s analysis and predictions for Polygon (MATIC), Ethereum (ETH), and Binance Coin (BNB).
MATIC On The Decline
Polygon (MATIC), the Ethereum-based layer-2 scaling solution, is losing its high time frame structure, according to Bluntz. He notes that MATIC is breaking down from a 12-month bear flag and has just closed solidly below a year-long channel, indicating a further descent. Bluntz predicts that MATIC could potentially drop by as much as 54% from its current levels, setting a range of $0.40 to $0.50 as a more realistic target. At present, MATIC is trading at $0.869.
ETH Falling Below $1,700
Shifting the focus to Ethereum, Bluntz points out that the second-largest cryptocurrency will soon experience a significant decline after closing below an ascending channel that has persisted for several weeks. Based on his chart analysis, Bluntz sets his sights on Ethereum falling below $1,700. Currently, ETH is valued at $1,842.
He further states, “The undersides bear flag retest of ETH appears to be complete, and I believe the bottom will fall out of this market soon.”
BNB Downtrend Continues
Lastly, Bluntz turns his attention to Binance Coin (BNB), noting that the utility token of the Binance Smart Chain has faced substantial pressure when paired with Bitcoin. He explains that BNB has had one of the most severe downtrends against its BTC pair, consistently declining, unlike the sideways movement of ETH/BTC.
Bluntz’s warnings serve as a reminder to investors to exercise caution and carefully consider the potential risks associated with altcoin investments, including Polygon, Ethereum, and Binance Coin. The analyst views are more realistic and one can make more informed decisions about when to buy, sell, or hold their assets.
Shiba Inu (SHIB) Price Will Never Hit ATH – Predicts Founder of Gold Squad
Shiba Inu (SHIB) enthusiasts have been waiting for the coin to bounce back from its current slump, but one entrepreneur is skeptical that it will ever reach its previous all-time high.
Mason Versluis, the founder of the crypto community Gold Squad, recently took to Twitter to express his doubts, stirring up a debate within the crypto community. For those who don’t know, SHIB was the talk of the crypto town in late 2021 when it skyrocketed to an all-time high of $0.00008845. But since then, the coin has experienced a steady decline, with the latest market downturn sending it spiraling even further.
“Dead” State of MemeCoin
Likewise, the current market dynamics of SHIB highlight the inherent risks associated with investing in meme coins. Shiba Inu was the PEPE of 2021, bringing enormous gains to early investors. Unfortunately, the rally was short-lived and quickly turned into a disaster for anyone who entered SHIB around the ATH.
“I am pretty confident $SHIB will never go past all-time high again ($0.00008845),” He tweeted. While not everyone agrees with him, his statement raises a critical question: Can SHIB regain its former glory, or is it destined to remain a “dead” meme coin?
Bullish Community Reaction
Tony JRNY, the founder of the NFT project JRNY Club, pointed out that it’s possible for SHIB to surpass its previous high with groundbreaking utility and FOMO (fear of missing out). And with the Shiba Inu community working hard to introduce new projects aimed at boosting adoption, it’s not out of the question.
Shibarium, the Shiba Inu ecosystem L2 network, and SHIB: The Metaverse are just some of the initiatives being developed to increase SHIB’s value. But whether these projects will be enough to pump SHIB to new heights is yet to be seen.
Some investors believe it all comes down to adoption. If new retail investors flock to SHIB, it could see a resurgence in value. Others point to the introduction of Shibarium, the Metaverse, and the burn mechanism as possible catalysts for a rally past the ATH.
It’s worth noting that Versluis has had a change of heart when it comes to SHIB. Last September, he admitted to missing out on the initial SHIB run due to his animosity toward the asset. But he’s since dropped that hate and is now weighing in on the coin’s future prospects.
In the current market-wide decline, SHIB has dropped 2.33% in the previous 24 hours, breaking below the $0.00001 support. The asset is trading at its four-month low of $0.000009. In comparison to Pepe, it is still down by 18% which is not favorable for the meme coin.
Is The Crypto Bull Run Over? Analyst Predicts Bitcoin (BTC) Price Correction Ahead
The world’s leading cryptocurrency has taken a hit, dipping below the crucial $28,000 mark. As global macro liquidity dries up, there’s growing speculation about the end of the crypto bull run.
Crypto expert DonAlt, who accurately predicted the 2023 crypto explosion, has projected a Bitcoin downturn.
DonAlt Predicts Bitcoin Correction
DonAlt points out that Bitcoin has broken down from a symmetrical triangle pattern on the daily chart, indicating that a correction could be in store. He believes that if Bitcoin drops, it could signal the start of a more extended corrective period.
While the correction may cause concern for some investors, DonAlt notes that this could be an opportunity for BTC bulls to accumulate digital assets at lower prices. Bitcoin has risen by roughly 100% since its November 2022 low, so a correction could offer a chance to buy in at a more reasonable price.
The macroeconomic conditions have already caused a negative impact on Bitcoin as liquidity continues to drain due to banking failures and the weakening Dollar. Despite favorable macro conditions such as S&P strength, gold strength, and banking FUD, BTC is still struggling to maintain its uptrend. DonAlt queries why this is so, given that Bitcoin has been acting as a store of value for a long time.
Also Read: Bitcoin Price Prediction 2023: Analyst’s Projection Points to Possible Outcome – Coinpedia Fintech News
Are Memecoins stealing the show?
Additionally, He points out that investors are focused on generating quick money rather than holding for long-term returns. Meme coins like PEPE have shifted attention away from Bitcoin as the original “store of value.”
Likewise, cryptocurrency’s regulatory environment isn’t helping either. Every company and exchange is being careful after Bittrex’s bankruptcy filing. Exchanges’ US activities are unprofitable in the current regulatory and economic environment.
Related: Meme Coin Craze Overwhelms BTC Network, Fees Skyrocket – Coinpedia Fintech News
Overall, Bitcoin is down over 4% today at $27,731. DonAlt’s warning reminds investors to be careful and prepared for market corrections as the cryptocurrency’s future is unknown.
Altcoins To See Explosive Rally: Michaël van de Poppe Predicts Major Shift in Crypto Market
Renowned crypto strategist Michaël van de Poppe is predicting an upcoming altcoin rally that could be ignited by a Bitcoin (BTC) breakout. Van de Poppe is closely monitoring the OTHERS.D chart, which represents the market cap percentage belonging to major altcoins in the cryptocurrency market.
According to the analyst, OTHERS.D may experience a short-term dip as Bitcoin is expected to surpass $30,000 before altcoins can participate in the rally. Van de Poppe believes that the time for altcoins is nearly upon us, as Bitcoin’s value fluctuates and is poised to bounce back.
Anticipating Altcoin Surge: Key Levels to Watch
Van de Poppe’s chart suggests that 8.66% and 7.02% could be potential bounce areas for OTHERS.D. At the time of writing, OTHERS.D is hovering at 8.91%. The analyst also notes that Ethereum (ETH) is exhibiting bullish signals with consistently higher lows, which may lead to a rapid price increase in case of a breakout.
Bitcoin’s Impact on Altcoins and Ethereum
Van de Poppe explains that Bitcoin’s substantial movement will likely be followed by Ethereum and other major cryptocurrencies. As Bitcoin’s technical aspects remain steady, it continues to trade above the 50-day exponential moving average, a crucial support level of around $27,500. This level has posed significant resistance for Bitcoin throughout the week. However, closing candles above $27,500 will increase the likelihood of a bullish reversal for the leading cryptocurrency, while anything below $26,850 could spell trouble.
Ethereum’s Potential Breakout
Van de Poppe predicts that if Ethereum breaks the $2,150 resistance level, it could experience rapid expansion toward the $2,700 to $2,800 range. The analyst maintains that Bitcoin will make its move first, followed by Ethereum and other major cryptocurrencies joining the upward trend.
At the time of writing, Ethereum is trading at $1,861, while Bitcoin is valued at $27,851. Crypto enthusiasts and investors are closely watching these market movements, anticipating the potential altcoin explosion and its impact on the cryptocurrency ecosystem.
SUI, PEPE & ARB Price To Crash Heavily In Coming Week – Analyst Predicts Low Levels
The global economy remains unstable, and rising costs have prompted many to consider Bitcoin as an investment option. However, before jumping on the bandwagon, it’s critical to consider what Altcoin Sherpa, a well-known cryptocurrency expert, has to say.
Sherpa’s Positive Bitcoin Forecast
Despite recent gains, Altcoin Sherpa warns that Bitcoin is trading sideways with no discernible pattern. For the past 48 days, Bitcoin has fluctuated between $25,000 and $30,000, and its strength is why many experts prefer it to Gold and fiat money, which are collapsing due to the global crisis.
Sui Network (SUI) is gaining traction and attracting traders’ attention. Based on Fibonacci retracement levels, Altcoin Sherpa believes that the blockchain will drop back to the $1.29-$1.27 zone. However, he warns that if Bitcoin falls, SUI might fall even more to $1.24. Despite this, Sherpa feels that as long as BTC is stable, SUI is in an accumulation phase. Sui Network’s value has dropped by 1.9% in the last 24 hours and is now at $1.31.
The trader then speaks about Pepe (PEPE), a meme coin that debuted last month, and its recent price spike. He anticipates that Pepe and other meme coins will lose value. According to Sherpa, PEPE variants are hot right now, but all other meme coins are on the rise. These coins will all expire and have a short existence. He believes the next few weeks will be a terrible shambles, as they always are.
Finally, Sherpa uses EMAs and Fibonacci retracement levels to forecast a possible drop in Arbitrum’s price to the $1.15-$1.20 zone. He claims lower liquidity as a result of the popularity of meme currencies and “coins of the month.”
Overall, Bitcoin has increased by 1.5% in the last 24 hours to $29,305, while Sui Network has decreased by 1.9% to $1.31 and Arbitrum has increased by 3% to $1.36. Despite the volatility of the cryptocurrency market, Sherpa’s analysis can assist investors in making more informed decisions.
Bitcoin Price Poised To hit $30,500 Following Positive Jobs Report, Expert Predicts
Michaël van de Poppe, a well-known cryptocurrency analyst, recently shared his thoughts on Twitter about the potential for Bitcoin to surge past the $30,000 mark. According to Michael, Bitcoin’s continued strength in flipping levels and re-entering its range is a positive sign.
He said he is particularly interested in seeing the digital currency maintain support at the $28,900 level, which could then facilitate a climb toward $30,500. It is worth noting that important news related to unemployment is scheduled for release soon, which may have a direct impact on Bitcoin’s price.
Bitcoin’s Steady Climb Since the Beginning of the Year
The largest cryptocurrency by market capitalization has exhibited impressive growth this year, boasting a 74% increase since January. At one point, Bitcoin even managed to break the significant $30,000 price threshold. This momentum, coupled with the digital asset’s technical analysis, suggests that Bitcoin could be gearing up for another bullish move.
Consolidation and Ascending Triangle Pattern
Following its brief breach of the $30,000 resistance level in April, Bitcoin has been consolidating around $28,500. This consolidation has led to the formation of an ascending triangle pattern, which traditionally indicates that a strong upward movement may be on the horizon. If this pattern plays out, Bitcoin could soon break past the $30,000 level within the next few weeks.
Potential Move Toward $40,000
Once Bitcoin manages to surpass the $30,000 mark, its next major resistance level is estimated to be around $40,500. This means that should the digital currency break through $30,000, there may be little preventing it from continuing its ascent to the $40,000 price range.
Michaël van de Poppe’s analysis of Bitcoin’s current price action highlights the cryptocurrency’s potential for further gains, particularly if it can maintain support at $28,900.
BTC Live News : Is Bitcoin About to Enter a Bear Market – Here’s What Glassnode Data Predicts
As the world’s most popular cryptocurrency, Bitcoin has been on a wild ride over the past few years. But now, experts are warning that a bear market could be on the horizon, and the culprit might be none other than the U.S. Dollar Index (DXY).
Glassnode, a company that analyzes cryptocurrency trends, has been closely monitoring the DXY’s recent fluctuations. Since January 2021, the DXY has been on the rise, and this could be bad news for risk assets like Bitcoin.
Opposite Directions: DXY and Bitcoin
The value of Bitcoin and the US dollar (measured by the DXY) have generally moved in opposite directions over the past three years. When the DXY goes down, it can have a big positive impact on risk assets like cryptocurrencies. However, when the DXY goes up, it can spell trouble for digital assets.
The DXY’s recent drop in September 2022 was a welcome relief, but it’s now expected to rise again in early May, before dropping drastically within the range of 105-107.
The DXY’s strength can greatly affect the global market, as it impacts other currencies as well. When the DXY goes up, commodities like gold and oil become more expensive for those who don’t use US dollars. This can lead investors to switch to other types of investments, including cryptocurrencies. Hence, digital assets are often seen as riskier, which means investors may sell them when the DXY is strong to lower their risk.
What Could Happen Next?
If the DXY does continue to rise, it could lead to a brief bear market for cryptocurrencies, including Bitcoin. This would be a significant setback for the cryptocurrency market as a whole. When the DXY gets stronger, investors may choose to put their money in the US dollar, which is generally considered to be safer. This makes it harder for people to want to invest in riskier assets like digital currencies.
As a cryptocurrency enthusiast and investor, it’s essential to keep a close eye on the DXY and other global economic indicators. While it’s impossible to predict exactly what will happen next, staying informed can help you make the best investment decisions for your portfolio.
Bitcoin Price Analysis: BTC Price Set To Surge 65% As Altcoin Season Nears, Predicts Expert
Bitcoin, the world’s most popular cryptocurrency, could be in for a remarkable uptick in the coming weeks, potentially triggering an altcoin season, according to Kevin Svenson, a well-known cryptocurrency analyst. In this article, we delve into Svenson’s predictions and explore what they mean for investors.
Bitcoin Primed for Significant Uptick
Svenson notes that Bitcoin is currently establishing a higher low along a parabolic trajectory, potentially leading to the next substantial thrust upward toward $48,000. This increase would signify a 65% gain from its current price, presenting a significant opportunity for investors.
Also Read: Bitcoin Price Prediction 2023, 2024, 2025, 2026 – 2030
Altcoin Season on the Horizon
Svenson believes that after Bitcoin nears the $50,000 mark, altcoins may begin to experience their own rallies. This pattern corresponds to Bitcoin’s behavior months before its last halving, with the next halving scheduled for early 2024. Svenson envisions a final dramatic peak in Bitcoin dominance before the onset of the altcoin season.
Investing in the Altcoin Market
Regarding the optimal time to invest in the altcoin market, Svenson approximates that June or July could be prime opportunities. Forward-thinking investors might even consider entering the market earlier in anticipation of this trend.
Related: Top 10 Altcoins Poised To Explode In the Month Of May – Coinpedia Fintech News
At the time of writing, Bitcoin’s value stood at $28,095. Its dominance rate, a metric indicating Bitcoin’s share of the overall crypto market, has risen significantly since the beginning of the U.S. banking sector crisis. TradingView data reveals that the dominance rate has escalated from 42% to 22-month peaks close to 49%, demonstrating Bitcoin’s superior performance compared to the broader market.
Federal Reserve Policies and Cryptocurrency
The continuing banking crisis has intensified expectations of additional liquidity easing measures by the Federal Reserve (Fed), implying an impending dollar depreciation. On Wednesday, the Fed increased interest rates by 25 basis points. The projected dollar weakness and adjustments to interest rates might further bolster Bitcoin’s bullish trend in the months ahead, making 2023 as bullish for crypto as many analysts have predicted.
Top Analyst Predicts Bearish Target for Bitcoin Price-Says, it May Drop Back to $15,000!
Bitcoin price, after surging above $29,000, appears to be struggling to reach the interim milestone at $30,000. The bears appear to have held positions above these levels, as the price has been facing multiple rejections beyond $30,000. Now that the price is closer to re-testing the crucial resistance, market participants believe the star crypto is on the verge of a massive breakout.
On the other hand, the volume continues to deplete as the buyers remain aloof and the sellers also do not want to mount huge selling pressure. However, the current trade setup appears to be quite bearish to one of the Top analysts, Tolberati, who believes the price may soon drop close to $15,000 in the coming days.
The analyst here considers the Elliot wave analysis and says that the major ABC correction has just finished and the price is primed to plunge down to $15,000 or even $10,000! Further, he says that DXY Index is ready for another big wave towards the north and hence the FED will soon pivot them in May or June. This is expected to trigger a massive crash.
Considering the current jump, the analyst believes it to be a fake one as it shows signs of weakness, and hence there should be a correction on the way. Besides, altcoins also possess a drop in strength, as most of them have been creating bearish patterns. Furthermore, there is an unfilled CME GAP at $20,145 which appears to be a threat to the BTC price rally. Moreover, $20,000 is also below the major horizontal support at $25,000, which is another matter of concern.
Also Read : Bitcoin Price Prediction 2023, 2024, 2025: Will BTC Price Mark New High’s In The Coming Days?
Collectively, the Bitcoin price has been trading under a misty environment where-in the next course of action is hidden under the clouds. Therefore, until any validation occurs, the bearish or bullish price action cannot be completely validated.
Barclays Predicts a ‘Dovish’ Twist in FED Rate Hike Decision: What This Means for Crypto Investors
As the world grapples with the aftermath of the back-to-back collapse of several U.S. regional banks, the global financial markets are on edge. The pain continued on Wednesday as PacWest Bancorp (PACW) stock prices declined around 12% in pre-market trading.
With the memory of the 2008 financial crisis still fresh in our minds, the question on everyone’s lips is whether we will see another bank run by the end of the week.
4.75% to 5% Sign of Dovish Stance?
In the midst of all this uncertainty, Barclays has made a prediction about the outcome of the upcoming Federal Open Market Committee (FOMC) meeting. The FOMC is a branch of the U.S. Federal Reserve that meets eight times a year to discuss monetary policy. At this month’s meeting, the FOMC is expected to announce a decision on interest rates.
While the markets are expecting a 25 basis points (bps) Fed funds target rate from the current range of 4.75% to 5%, Barclays believes there could be a ‘dovish’ signal in the statement.
But what exactly does that mean?
In this context, a ‘dovish’ signal means that the FOMC statement would have a softer tone, with a warning of further tightening risks depending on economic conditions. Barclays predicts that the Fed statement will give signs of a dovish sentiment, although with an increase in a rate hike by 25 bps, as per market expectations.
Barclays has even released its own version of how the official Fed statement could look:
“With today’s rise in the target range, the committee believes the monetary policy is restrictive enough to return inflation to 2 percent over time. However, if necessary, the committee will tighten monetary policy.”
The sentiment in the financial markets has been shaky, to say the least. On Tuesday, the S&P 500 Index and Nasdaq closed with over a 1% drop, and PacWest Bancorp’s stock dropped around 28% during the day. The US Dollar Index (DXY) also dropped, continuing in the lowest range since February 2023.
Brace Yourself for a Rollercoaster Ride
It’s a tumultuous time for the global financial markets, but with predictions like Barclays’, investors can at least prepare themselves for what’s to come. As traders anxiously await the FOMC statement, Bitcoin remains to trade at the $28,000 level. No matter what the outcome, the next few days will undoubtedly be a rollercoaster ride for financial markets across the globe.
BTC Price Forecast: Lower Volatility, More Stability – Bitfinex Predicts New Era For Bitcoin
Bitcoin has been the talk of the town for a while now and for good reason. Its price has been volatile, to say the least. However, according to a recent report by Bitfinex, Bitcoin might be entering a transitional phase with lower volatility in the coming weeks.
Unwrapping Bitfinex’s Analysis
Bitfinex analysts suggest that Bitcoin is in a “transitionary phase” with lower leverage, fewer short-term speculators, and less volatile price action.
This analysis is supported by two key metrics: the Estimated Leverage Ratio and Implied Volatility.
The Estimated Leverage Ratio measures leverage in the Bitcoin market, which dropped to a low of 0.195 last week – a reading not seen since December 2021. This drop in leverage coincided with a 12% crash in Bitcoin’s price, from $56,500 to $49,500. Implied volatility, on the other hand, has dipped to near-historical lows set earlier this year, ranging between 48% and 55% for seven, 30, 90, and 180-day expiries.
Implication For the Crypto Market
Moreover, the decrease in leverage and implied volatility suggests a possible return to an era dominated by the spot market, similar to early 2021. This could mean that Bitcoin’s price may be less volatile in the coming weeks. However, it is important to note that this is just a prediction, and the crypto market is notoriously unpredictable.
Crypto Community Reacts
Overall, the Bitfinex report has received mixed reactions from the crypto community. While some see it as a positive sign for Bitcoin’s price stability, while others are skeptical, considering the volatile nature of the crypto market. There are still others who see this as an opportunity to buy Bitcoin at a lower price.
Read: Bitcoin May Reach $49,000 in November-Predicts an Analyst; Have BTC Bulls Awakened? – Coinpedia Fintech News
The crypto market is constantly evolving, and predicting its future is no easy feat. While the Bitfinex report suggests that Bitcoin may be entering a transitional phase with lower volatility, it is important to exercise caution and always do your research before investing in any cryptocurrency. Ultimately, only time will tell what the future holds for Bitcoin and the crypto market as a whole.
Top Analyst Predicts More Downfall for Bitcoin (BTC) Price: Will it Drop Below $27,000?
The crypto market is painted in red as the top tokens have been facing massive sell-offs in the past few days. The Bitcoin price, specifically, slipped below $28,000 but continues to remain stuck within the same regions at the moment. With the price displaying similar action, the possibility of a bearish outlook looms over the market. Meanwhile, the flagship crypto does not seem to remain under significant bearish pressure for long.
Although the BTC price is projected to maintain a healthy upswing, an initial drop is expected to attract significant liquidity that may assist the rally. One of the well-known analysts, Michael van de Poppe, believes the star crypto is more likely to visit levels below $27,500 in the next couple of days and test the liquidity zone. Meanwhile, the drop could be followed by a fine upswing.
The analyst here expects some confirmations on the lower time frame, which may be pretty crucial to determine the next course of action. The levels until the liquidity area around $27,514 are marked as profit-making zones, and hence a drop in these levels may trigger an acute descending trend ahead. However, the analyst believes the price may rebound from these levels and soar beyond $29,000 quickly.
Besides, the market was expected to remain volatile this week as numerous events were expected to fluctuate the price movements. The FED is about to announce the fresh interest rates on May 03 and the US non-farm Payrolls are to be announced on May 05 which may have a greater impact on the BTC price ahead. Besides this, the US CPI and PPI rates are also expected in the coming week which may either fuel a rebound or increase the pace of the descending trend.
Hence, the next couple of weeks is believed to be pretty important for the entire crypto space, as Bitcoin is believed to remain highly volatile.
Analyst Maps Higher Targets for Bitcoin (BTC) Price, Predicts 15% Surge For INJ Price
The crypto markets have begun to recover after being under bearish influence for a couple of days. While the prices of the top cryptos have begun to surge, some of the mid-cap altcoins have been displaying immense bullish momentum. One of the top analysts, Captain Faibik, rolls out the predictions for Bitcoin (BTC) and Injective Procotol (INJ).
Bitcoin price has been trading along with the rising trend line and recently ignited a bounce, aiming to head toward immediate resistance. Therefore, the analyst believes the price may face an interim swing that may rise levels above $30,000 soon.
“BTC is Bouncing Back,
According to Ascending Broadening Wedge Formation, if bulls reclaim the 28.7K resistance, Expecting a +10-12% bullish rally in the coming days,”
The price may maintain a healthy upswing for a while and reach beyond $30,000 and may face an interim pullback. After a brief consolidation, the price may begin with a strong upswing and reach levels close to $32,000 and may even reach beyond $32,500.
INJ Price Analysis
Secondly, the analyst sheds light on Injective Protocol price prediction. The price has maintained a fine descending trend for nearly a week. The recent rebound which sparked raised the levels from around $6.4 to as high as $8.5 in no time.
“$INJ Descending channel breakout in 1H TF Chart..!!
Looks Promising for +15% Bullish Rally in Short Term..”
Now that the Injective Protocol price reached the exact target, the price may certainly maintain a fine upswing ahead. Therefore, the analyst now believes the price may surge by 20% and if it does so may even reach beyond a double-digit figure.
The crypto markets are believed to follow the star crypto and hence if Bitcoin price finds some stagnancy, then a significant upswing may be imminent.
Top Crypto Expert Predicts Altcoin Dominance Shake-Up By June
Top crypto expert Crypto Tony recently shared his prediction on Twitter that altcoin dominance may experience a shake-up by June. According to his tweet, he expects a 10% drop in altcoins in May, with the real excitement starting in June and continuing through August, provided there is demand at lower support levels around a $336 billion market cap. This forecast comes as Bitcoin (BTC) dominance shifts and altcoins gain momentum in the ongoing bull market.
Altcoin Season on the Horizon
As Bitcoin’s dominance over the crypto market decreases, it often signals the beginning of an altcoin season. Ethereum, the world’s second-largest cryptocurrency, has been outperforming Bitcoin recently, attracting more investors to its advanced blockchain technology.
Data from TradingView reveals that Bitcoin’s dominance rate increased from 42% to 48% during the first quarter but has struggled to break that level so far this month. The metric has fluctuated between 38% and 48% for nearly two years, with declines from 46% to 48% coinciding with substantial gains in altcoins.
Past Performance and Future Outlook
The chart indicates that the total market cap of altcoins rose over 60% to $1.39 trillion within two months after Bitcoin’s dominance rate dropped from 48% in July 2021. Similar bearish turnarounds in the dominance rate in mid-October 2021 and June 2022 also pushed altcoin valuations higher. If history repeats itself, the crypto market could witness another surge in altcoin value.
At the time of writing, Bitcoin is trading at $27,495, while Ethereum is valued at $1,852. As the market unwinds, investors and traders eagerly await the market’s full descent into a bull run.
As always, investors should approach predictions cautiously and consider multiple factors before making decisions in the volatile crypto market.
Crypto vs SEC Get Intense: Former SEC Chief Predicts Rise in Lawsuits !
John Reed Stark, former Chief of the US Securities and Exchange Commission’s (SEC) Office of Internet Enforcement, has warned that the cryptocurrency industry should brace for more lawsuits.
In an interview with the Financial Times, Stark noted that the SEC is stepping up its efforts to enforce regulations in the crypto space, mainly when investor protection is at stake.
SEC Ramping Up Enforcement Actions
The SEC has recently launched a series of enforcement actions against prominent cryptocurrency companies such as Genesis, Gemini, Paxos, Kraken, and Binance.
The regulatory body is also engaged in a dispute with Grayscale, an asset manager seeking approval to convert its Bitcoin trust into a spot exchange-traded fund (ETF) that holds the cryptocurrency directly.
Stark argues that while investors may not appreciate the regulatory interventions, they are necessary for their protection, much like seatbelt laws.
Recent Lawsuit Results in $2.8 Million Settlement
In related news, a seven-month-long lawsuit between the SEC and Hydrogen Technology Corporation has concluded with the company and its former CEO, Michael Ross Kane, being ordered to pay $2.8 million in remedies and civil penalties.
The SEC had filed a complaint against the company in September of the previous year, alleging that Kane manipulated the volume and price of Hydrogen’s ERC-20 token, Hydro (HYDRO), through its market maker, Moonwalkers Trading Limited.
The $2.8 million settlement includes $1.5 million in disgorged profits, which refers to gains made from unlawful conduct, and a penalty of over $1 million.
Hydrogen CEO Michael Kane has also agreed to pay an individual fine of approximately $260,000, with the remaining amount consisting of prejudgment interest.