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Bitcoin is close to a two-year low. What awaits it next

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Experts explain what factors put pressure on cryptocurrencies and when you can expect positive changes in the market

Since the beginning of the year, the capitalization of digital currencies has decreased by 60% — to $934 billion. The “crypto winter” collapsed the price of bitcoin by 70% of the historical maximum of $69,000.

Tokens of meta-vendors and NFT-projects, as well as currencies of DeFi-platforms were hit hardest — coins lost in price from 70% to 85% since the beginning of the year. Cryptocurrencies on exchanges fell the least: their quotes fell by 46%-57%.

Since mid-June, bitcoin rates have been fluctuating in the range of $18,000 — $22,000. Because of the falling quotes, some institutional investors and credit crypto platforms have already faced financial problems, and mining companies are forced to sell all the mined bitcoin to cover operating costs.

Is there potential for bitcoin growth in the near term, or is a true reversal in the market still to come? Experts described the current price dynamics in the cryptocurrency market and told when the turning point may occur.

Bitcoin price dynamics

The current week “pleases” traders with increased volatility. After bitcoin went below $19K on July 13, the panic was very strong.

If you look at the chart of BTC from the point of view of technical analysis, “the price is in a horizontal channel with a width of about $4000. Approximately the same channel was formed in May-June and as a result the price strongly “fell”.

Now there are already a lot of touches in the new channel as the upper and lower edges, so with a high degree of probability, the exit from the channel will occur in the next couple of weeks, the expert suggested. On July 13, the price “pushed back” from the lower boundary; that is, we can hope that the growth will continue to the upper boundary.

There is full synchronization with the index S & P 500, from its movement now directly depends on the dynamics of bitcoin and other top cryptocurrencies. A breakdown of the horizontal channel upwards will open a target to levels around $26k, while a breakdown downwards will open a target of $16k.

Influence of external factors

The most likely negative scenario, which implies the fall of the entire crypto market, and bitcoin — to $15,000 in the next month.

Cryptocurrencies are seen as a tool to hedge inflation risks. But on the other hand, digital assets now correlate strongly with the stock market, and the latter will inevitably show a decline due to high inflation in the U.S., despite all the efforts of the Fed to curb this growth.

At the next meeting of the U.S. Federal Reserve will decide to raise the key rate again. This is already obvious, and in the run-up to the meeting, capital will start to exit high-risk assets.

In August, bitcoin will fall to multi-year lows, but this does not cancel the forecast for the growth of bitcoin in the perspective of 3 years. Bitcoin will return to growth in the autumn.

In the second half of 2023, a new bullish cycle will begin in anticipation of another halving. And bitcoin will update to new all-time highs within 12 months of it — between May 2024 and May 2025.

Intermediate bottom

Soon we expect mostly sideways movement with the risk of another renewal of annual lows for BTC, ETH, and some other capitalized assets.

Such dynamics are unlikely to lead to a significant drop in quotations, and the new lows will allow market participants to enter assets more profitable, the expert explained. He said he expects the prices will recover sharply after the possible decline of BTC up to $17,000 and ETH — up to $900.

Until the end of July, the crypto market will form an intermediate bottom, which will give cryptocurrencies an opportunity to strengthen within 2-3 months; Pershikov said. The current dynamics will remain until the end of the month, while growth in individual assets and the market will begin in August. 

Cryptocurrency

Bitcoin Enters New Volatile Range as Markets Continue to Struggle

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As the crypto market continues to struggle, bitcoin (BTC) has broken into a new volatile range. On March 10, the cryptocurrency fell below $80,000 and touched the $76,800 range before climbing back up to $81,000 at the time of writing.

According to the latest edition of the Bitfinex Alpha report, the cryptocurrency’s decline to $76,800 triggered massive losses in the market, with investors recording over $950 million in liquidations for both short and long positions.

Bitcoin in New Volatile Range

Bitfinex said its analysts expected a temporary upside move toward the previous range lows near $90,000 after BTC fell briefly below $80,000 in February. The expectations played out earlier last week, with the leading cryptocurrency reclaiming those levels before consolidating between $85,000 and $92,000 towards the weekend.

However, bitcoin’s volatility increased as the Crypto Summit at the White House approached. Bitfinex said this was fueled by speculation around the creation of a U.S. Strategic Crypto Reserve. By the way, around that time, President Donald Trump signed an executive order establishing the bitcoin reserve and a digital asset stockpile.

When news emerged on March 7, crypto prices rallied across the market. However, the gains were soon erased as investors understood that the order would not result in any immediate new buying of BTC or other cryptocurrencies. This, in addition to one of the largest Bitcoin and Ethereum options expiry event on the same day (up to $3 billion), triggered more short-term fluctuations, leaving investors in losses.

Market Stabilization on the Horizon?

Regardless of bitcoin’s negative price action, the leading cryptocurrency has been stable relative to altcoins. But market sentiment about the coin remains cautious, and liquidity conditions and macroeconomic uncertainty are playing key roles in the asset’s next move.

“The intense whipsaw in price action over the past two weeks has created turbulent market conditions and driven a surge in realized volatility for Bitcoin, particularly across shorter time frames,” the report stated.

On the other hand, the Bitcoin options market has reached some of the highest levels of realized volatility in this cycle, surpassing 80% for its one-week and two-week timeframes. This level of realized losses shows that many traders and short-term holders have been forced to exit their positions below their cost basis. This means they have sold their assets at a loss.

However, Bitfinex said such mass capitulation events often precede a phase of market stabilization because strong hands start accumulating as weak hands leave the market.

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Meme Index ICO Nears $4M With 20 Days Left – Next Meme Coin to Explode?

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Have you ever found yourself scrolling through X (Twitter) or Reddit, trying to spot the next big meme coin before it takes off?

You can ditch that approach thanks to Meme Index (MEMEX).

This project is transforming meme coin investing and has already raised nearly $4 million in ICO funding.

But with just 20 days left before the ICO ends, could MEMEX be the next crypto to explode?

What is Meme Index and How Does It Unlock Meme Coin Diversification?

So, what is Meme Index?

Instead of stressing over which meme coin to pick, Meme Index lets you diversify across the entire sector with curated “baskets.”

Think of these baskets as ETFs for meme coins, but more accessible and completely decentralized.

For example, say you’ve got $500 to invest but can’t decide between DOGE, SHIB, or PEPE.

Meme Index has you covered – with four different indexes, you can gain exposure to multiple coins at once.

There’s the Titan Index for the bigger coins, and the Moonshot Index for up-and-comers with potential.

The Midcap Index hits the sweet spot of established but still growing coins.

And for the truly risk-seeking investors, there’s the Frenzy Index – filled with low-cap plays that could produce explosive returns.

MEMEX token holders get to vote on which coins will be added to each index.

That means the developers aren’t calling the shots – a community of meme coin enthusiasts decides what’s hot and what’s not.

MEMEX Token Staking App and Analyst Backing Set Stage for Post-Listing Growth

But Meme Index isn’t just about index funds.

The project also has a staking app that’s up and running – even while the ICO is still live.

Right now, it offers yields of 573% per year, though they will decrease as more investors get involved.

Still, that hasn’t stopped investors from locking up 174 million MEMEX so far.

Meme Index’s ICO is crushing it, having already raised $3.9 million in funding.

With just 20 days left before MEMEX’s open market debut, FOMO is beginning to kick in, and investors are rushing to secure tokens for $0.0166883 each.

All the signs of a project gaining momentum are there – a growing Telegram presence and rankings on top sites like ICOBench.

Even popular YouTubers are taking notice.

Crypto expert Borch Crypto took a deep dive into the project last week and said it could “explode” after listing.

Meme Index Continues to Thrive Despite Meme Coin Market Chaos

Meme coins in general are taking a beating right now.

DOGE has dropped to $0.154, SHIB is sitting at $0.0000114, and SPX just took a 23% hit since yesterday.

The sector’s entire market cap has shrunk to $43 billion – a far cry from where it was in December.

Yet, Meme Index continues to pull in investors.

This early demand is mainly because Meme Index offers something different from most other meme coins.

It’s not just another dog or cat-themed token looking to pump and then dump – it has an actual use case.

Meme coins have always been unpredictable, but Meme Index’s index-based approach brings order to the chaos.

Instead of guessing which coin will explode next, investors can gain exposure to several at the same time.

For beginners, this could be extremely helpful.

Most beginners will suffer at least one painful loss when they first dive into the meme coin space.

But with Meme Index, they soften the blow by spreading their bets across multiple meme coins.

It’s a quick and easy way to diversify.

With millions already raised in its ICO and an exchange listing on the horizon, Meme Index might be one to keep an eye on.

Visit Meme Index ICO

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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Is it Time to Grab the Crypto Dip – RAD, ARKM and BTCBULL Outlook

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The crypto market is crashing right now – but is this the time to worry, or is it a golden opportunity?

Experienced traders know that deep in the red is where the best deals lie.

And with some experts still bullish on tokens like Arkham (ARKM) and BTC Bull Token (BTCBULL), those who act now could be rewarded when the market recovers.

Is the Crypto Market Crash a Golden Opportunity?

It’s a tough time to be a crypto investor.

Everyone is dumping risk assets, spooked by the latest tariff wars between the U.S., China, Mexico and Canada.

These economic tensions have triggered a domino effect – traditional markets are tanking, with the S&P 500 shedding $1.4 trillion yesterday and crypto stocks like MicroStrategy and Coinbase plunging double digits.

With over $700 million in liquidations, it’s no surprise Bitcoin and altcoins are struggling to find solid support.

The Crypto Fear and Greed Index has also fallen to a two-year low of 24, now in “Extreme Fear” territory.

But history shows that fear often creates opportunity – so is this dip a chance to get in before the next leg up?

Arkham Price Rallies 60% After Upbit Listing as Experts Back It for Further Gains

One altcoin that experts remain bullish on is Arkham.

This AI-powered blockchain analytics platform saw a strong boost today after ARKM was listed on Upbit, South Korea’s largest exchange, prompting a 60% price surge.

Although ARKM sold off a bit since then, holders are still optimistic about the token’s prospects.

Arkham’s core value lies in its ability to deanonymize blockchain transactions, making it a go-to tool for institutions tracking fraud and illicit activity.

Its “ULTRA AI” engine maps wallet addresses across multiple chains, while the Intel Exchange allows users to trade blockchain intelligence like stolen fund trails.

The platform has also caught attention with its influencer tracking feature – exposing discrepancies between what they promote and what they actually hold.

Popular trader Moon Whales on Twitter believes ARKM could be about to take off.

He tweeted earlier today that a “clean breakout” above the $0.70 level could extend the token’s rally.

BTC Bull Token Presale Nears $3.5M Mark – Could This be the Next Big Meme Coin?

BTC Bull Token is another coin that’s still doing well despite the market dip.

Built on Ethereum, this token is designed to reward holders with actual Bitcoin while using deflationary tokenomics to drive scarcity.

The project has raised almost $3.5 million in its presale, and with influencers like Danjo Capital Master backing it, the hype isn’t going away anytime soon.

BTCBULL’s reward system is its key selling point.

It’s tied directly to Bitcoin’s price milestones – holders get Bitcoin airdrops when BTC hits $150K, $200K, and beyond.

On top of that, the team will slash the token supply by 15% at key Bitcoin price levels, boosting BTCBULL’s value in the long run.

Throw in staking rewards estimated at 123% per year, and it’s easy to see why the project has gone viral.

None of this comes at the expense of safety, as Coinsult and SolidProof verified the project’s security through smart contract audits.

So, with strategic partnerships reportedly in the pipeline and a growing community, BTCBULL might be positioned to rally once the market picks back up.

Traders Predict Big Gains for Web3 Crypto Project Radworks

Alongside Arkham and BTC Bull Token, experts are also bullish on Radworks (RAD), a project that is shaping the future of decentralized software development.

Its censorship-resistant tools make it a key piece of Web3 infrastructure, and traders are beginning to take notice.

According to CryptOpus on Twitter, RAD looks like it’s about to break out of a falling wedge on the weekly chart – a classic bullish setup.

The token is already up 39% in the past day alone.

Radworks’ flagship tools, Radicle and Drips, are its main selling points, with over 1,200 projects funded since 2023.

As demand for these tools grows, we could see RAD rise in tandem.

In fact, spot trading volumes for RAD have rocketed 625% since yesterday, helping it rank on CoinMarketCap’s trending cryptos list.

That helps explain why Radworks could be the market’s next big mover if this momentum keeps up.

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

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