Bitcoin Closer to Undergo the First Weekly Death Cross- This Could be the Impact on BTC Price!
Bitcoin price slipped down below $23,000 and created a wave of uncertainty over the crypto space. The altcoins which had risen above their respective resistance levels have dropped below the levels which could flash the revival of a bearish trend. Additionally, the star crypto is closer to witnessing a great leap but towards the south.
The star crypto is about to witness a death cross in the weekly timeframe for the very first time in history and hence the impact is being expected at a larger scale. The death cross is when the 200-day MA & 50-day MA levels cross each other and the 200-day MA levels head toward the lower support. Usually, the impact in the daily chart is bearish as the BTC price drops by nearly 7% to 10%.
Presently, the price trend is towards the south and hence the 50-day MA levels may cross over the 200-day MA to reach the lower support soon.
The death cross is expected to happen in the next week or 2 as the prevailing bearish formations may impact the price negatively. However, the price may still undergo a bullish divergence due to the below-mentioned reasons,
- BTC price is up by 50% from the November lows. Moreover, throughout history, the price surged by such a margin each time it tests the 200-Week MA level which was the bottom of the cycle.
- The weekly RSI levels whenever reach breaks above 60 after hitting the 50-Week MA, indicate the cycle bottom may be reached. Therefore, a notable upswing may be fast approaching.
- Presently, the weekly RSI is around 56.52 and hence a slight plunge may mark the bottom of the cycle ahead beyond which a notable upswing may be ignited
Collectively, after reaching the lower bottoms, the Bitcoin (BTC) price rally may being and reclaim the lost levels very soon.
Solana Co-founder Talks About Altcoin Challenges, Polygon’s Blockchain To Undergo Hard Fork While Snowfall Protocol Alerts Investors About Scammers
Top crypto projects, including Polygon (MATIC) and Solana (SOL), have been working hard to complete advanced solutions brought by new projects like Snowfall Protocol (SNW). Investors have also become keener on which crypto projects they must invest in 2023.
Read ahead to know interesting happenings around these crypto projects.
Anatoly Yakovenko shares Solana’s (SOL) challenges and needed solutions while the price reaches $22.05
The Solana (SOL) community has been reviewing the challenges they face while trading on the platform. The co-founder of Solana (SOL) openly shared the drawbacks of altcoin. He discussed some of the major issues of Solana (SOL), like constant outages, certain levels of centralization, firm market corrections, etc.
He also mentioned that these issues have frustrated Solana (SOL) investors, which might lead them to withdraw their investments soon. However, he also pointed out that Solana (SOL) has recently implemented a 2nd validator built by Jump. It indicates that Solana (SOL) users will not face any issues if bugs attack one of the validators. Solana (SOL) also became the world’s 2nd altcoin that has more than one validator that works independently.
The promising solutions of Solana (SOL) platform have impacted its price positively. Solana (SOL) is selling with a live price of $22.14, which is a 34.21% increase within a day.
Polygon (MATIC) proposes a hard fork; the price goes 6.02% up
Polygon (MATIC) community will soon vote on its PoS blockchain’s hard fork proposal.
If the Polygon (MATIC) community approves it, the software upgrade will happen in January.
The Polygon (MATIC) hard fork will target two major issues that the project often faces: Reorgs or chain reorganization and gas fee spikes. Thus, Polygon (MATIC) hard fork will adjust the gas fee structure of the platform and reduce the fee during high chain activities. Additionally, the Polygon (MATIC) hard fork will assure proper transaction verification within a short time when the network experiences reorg.
The Polygon (MATIC) hard fork may boost the token price and offer better rewards to Polygon (MATIC) community members and validators. Polygon (MATIC) currently has a live price of $0.9718, which is 6.02% up in the past 24 hours.
Snowfall Protocol (SNW) calls out scammers to protect its investors’ money
Snowfall Protocol (SNW) has performed extremely well in its presale phases, which have attracted both investors and scammers. Snowfall Protocol (SNW) noticed a few fake websites that are trying to sell duplicate Snowfall Protocol (SNW) tokens.
Snowfall Protocol (SNW) Twitter handled immediately pointed this out through a detailed post. The post shared the original address for Snowfall Protocol (SNW) to help new investors recognize real Snowfall Protocol (SNW) tokens.
The post also mentioned that the official launch date for Snowfall Protocol (SNW) is very close, and the crypto project is available on the Binance Smart Chain network.
Snowfall Protocol (SNW) token has a current price of $0.191, which is predicted to grow by 5000% soon. So, buy in the Snowfall Protocol (SNW) presale from its official website and earn multiplied returns later.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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Here’s When Bitcoin(BTC) Price May Undergo a Bullish Trend Reversal
Bitcoin price has been fascinating throughout the year 2022 as it underwent multiple halving events with respect to price. The price continues to find new lows with the revival of a fresh bearish trend. Meanwhile, popular analysts believe that the star crypto can make a comeback and trigger a bull run very soon.
Kaleo, a well-known analyst, in his latest video update, says that the Bitcoin bull run has begun with the price crossing the 200-day MA levels. Therefore, says that once the BTC price raises above $20,370, it may slice through the bearish captivity and fly high.
“I think one of the things, really, looking forward as far as watching for big pivots, any type of shits from where we are, is a reclaim of that 200-day simple moving average as well. So as far as getting exuberantly and a shift for ‘Okay, we’re in the clear for a little while to go,’ that’s one thing I am looking for.
I know it’s incredibly simple but it is something that has been a signature for every single bottom that we’ve seen on this chart over the course of the past few cycles. So I think that it’s something that is simple and easy to keep an eye on….Until that happens, just remaining patient is important,”
Bitcoin in recent times is heading strongly towards crucial resistance close to $17,000. Therefore, if the price is required to slice through the $16,900 then only, the bullish continuation may be confirmed. With a brief upswing, the possibility of a bullish close beyond $17,300 could be quite possible.
Top 5 Altcoins Which May Undergo a 10x Rally in 2023!
Bitcoin price appears to be in hot waters right now as it has lost a significant amount of investor base and also the trust. The resulting volatility has compelled the investors to move out of the platform, which has caused a significant financial loss in recent times. Hence, market participants are now hunting for potential altcoins that may undergo a 10x rally.
Below mentioned are the potential altcoins for 2023:
Ethereum
Ethereum is the second largest asset after Bitcoin, sharing a significant market cap with the crypto space. With the launch of ETH 2.0, the asset displayed enough strength to remain above the crucial support zones in times of bear markets. However, the current market conditions have driven the ETH price down, but with a slight change in the bearish market sentiments, the price may rebound nicely to revive the bullish trend.
XRP
XRP price had begun to gain traction within the market as the analysts and the influencers believed the crypto’s victory against the SEC could be imminent. Moreover, the asset’s value has been extensively bearish or stagnant for a prolonged period and hence is believed to rebound well when the lawsuit settles down. Therefore, the year 2023 could bring decent returns for the asset that may trigger many other cryptos.
Binance Coin
Binance Coin is the third largest cryptocurrency after Bitcoin & Ethereum, excluding stablecoins, which have maintained a decent rally from the beginning. The asset rose to new heights without any noise and currently manifests huge strength. Therefore, the BNB price is assumed to rise significantly in the coming days and lay down a firm upswing since the beginning of 2023.
Dogecoin
Dogecoin, despite losing a huge user base due to the unfamous market crash in 2021, maintained its dominance. Hence is trading within the top 10 cryptos according to the market capitalization. The asset is believed to rebound finely as the market conditions stabalize and quickly reclaim the lost levels. In 2023, the DOGE price is expected to maintain a significant upswing and rise higher.
Polygon
Polygon’s price has been incremental despite the bearish market sentiments and displays enough strength. The price presently appears to be strong and may resume with a firm upswing in the coming days. Once the MATIC price settles above $1, it may be easy for the asset to maintain a notable upswing in the coming days.
Dogecoin (DOGE) Price at the Foothill of Massive Explosion, May Undergo 10x Rally Very Soon
The crypto space is undergoing a roller coaster ride ever since the markets tumbled in H1 of 2022. Undoubtedly, the bulls attempted at each level to hold back the price, but the bears were pre-determined to restrict the price rally under the pivotal levels.
Dogecoin price also underwent a significant upswing recently which uplifted the position within the top 10.
Ever since the FTX-led crypto crash compelled the price to drop from $0.101 to reach the lower support at $0.07.
Further, the asset maintained a stagnant trend, mainly due to a huge drop in the trading volume that hampered the volatility to a larger extent.
Meanwhile, the price action also indicates the preparedness of the token to ignite a notable upswing at the earliest.
The Dogecoin price despite being trading within a descending trend for quite a long time has been trading within a bullish ascending pennant.
The crypto space at the moment is experiencing a fresh wave of bearish movements, due to which the price may slice down from the pennant.
However, it could be only for a short while that may certainly be flipped by the bulls very quickly.
The interim target may lie around $0.1, sustaining above which may ignite a significant upswing towards the next target beyond $0.12.
Once the DOGE price reclaims the position above the monthly highs above $0.16, the possibility of a larger price action is certified.
However, the main target lies around $0.2, that may ignite a bullish wave in the entire crypto space in the coming days.
Crypto Markets Could Undergo a Major Change Soon! Will the Altcoins Maintain Their Sanity?
After a gigantic bull run, the crypto space undergoes an extended correction phase where-in assets plunge heavily by more than 80%. Meanwhile, the current phase also reflected a similar trend until the markets collapsed in May led by the fall of the Terra ecosystem. Since then the crypto assets have been trading under the heavy influence of the bears as Terra’s fall create ripples of fallouts later.
Recently, one of the most popular exchanges, FTX faced an $8 billion shortfall and is heading towards bankruptcy. This has led to a bloodbath on the streets of satoshi nakamoto 
satoshi nakamoto satoshi nakamoto Developer/Programmer Followers : 0 View profile , and moreover, the drop is expected to intensify very soon, dragging Bitcoin & altcoins to their bottoms.
However, the Altcoins presently may certainly not behave in a similar way it did post-2017 bull run. The top ALTS in 2018 were totally different from the top 100 ALTS now and hence a popular analyst warns his 117,900 followers to be very careful of the majority of Altcoins.
The market collapse led by FTX blew out nearly $200 billion in market capitalization in just a couple of days. Meanwhile, a steeper plunge is yet to happen, and with this, a sharp decline in Bitcoin, Ethereum, & the major altcoins are expected.
A well-known analyst, il capo of crypto 
il capo of crypto cryptocapo TraderMarket Analyst 
Followers : 0 View profile , rightly predicted the recent crash much before it occurred and believes that the last leg of the current capitulation phase is yet to occur. Bitcoin prices are expected to drop by 16% to 20%, Ethereum‘s price by 36% to 40%, and altcoins could crash by 40% to 45% very soon.
Hence, in the coming days, the major crypto assets are expected to find new bottoms and close the yearly trade on a bearish note.
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Ripple Leads the Top Gainers, Did XRP Price Undergo a Short-Squeeze?
XRP price surprised with its magnificent moves in the past couple of days, gaining more than 62% since the beginning of the week. The main reason behind the rise is assumed to be the comments of the Ripple CEO, Brad Gardlinghouse who believes the settlement may be around the corner. The liquidity poured into the asset due to which the price inflated by more than 60%, outperforming Bitcoin & Ethereum.
Despite the ongoing lawsuit against SEC, Ripple continued to expand as it has invested nearly $500 million in more than 60 companies within the crypto space. Additionally, the coiling market sentiments with a belief of closure to the case have also paved the way for a gigantic rise of the XRP price.
With the surge, the asset has successfully pierced through the multi-year descending trend line and flashing hug bullish signals of a 2x or 3x rally soon.
Therefore, the XRP price surged high to hit the ATH at $3.84 from the levels around $0.01. Now when the price is hovering around $0.5, the analyst believes the asset may go parabolic for the next 9 months and mark a new ATH.
Did the Short-Squeeze Play Well for XRP Price?
The XRP price rose magnificently after a prolonged consolidation below $0.45 for more than 3 months. While the XRParmy appeared a little annoyed with the sideway trend of the asset, a clear possibility of a short squeeze came out of the blue.
A similar attempt was carried out on Celcius Network where the CEL price rose more than 200% following a short-squeeze. Therefore, if the measured impact will have the same repercussion, the XRP price may be due for a monstrous rally to reach $1.65 in the next 6 to 8 months.
The XRP price ignited a strong upswing immediately after breaking out from the symmetrical triangle. On reaching the immediate resistance at $0.4362, the price began to stumble slightly, which may be due to a rise in XRP short bets. However, the asset consolidated for a while and quickly rose high following a huge influx of buying volume that thrashed the shorts.
Further, the XRP price continued to form bullish flags and raised high maintaining a firm upswing, without leaving any room for the bears to swell. Collectively, the positive comments from the Ripple CEO on the ongoing Ripple vs SEC lawsuit turned out to be a blessing in disguise for the asset. Hence, the price is expected to continue to thrive in the coming days until it reaches $1.