The post This Altcoin is at the Foothill of a Major Explosion: May Soar 80% If Surges Above This Crucial Resistance appeared first on Coinpedia Fintech News
In times when bearish clouds are hovering over the crypto markets, Worldcoin (WLD) is displaying significant strength. The price has bottomed and seems to be preparing for a huge bullish move, which may uplift the token above the bearish influence. Meanwhile, the bearish possibility may persist while the dominance continues to be in their favour. …
Avalanche (AVAX), the smart contracts platform known for its fast transaction speeds, is stirring excitement in the crypto world. With a recent price dip seemingly nearing its end, analysts are eyeing a potential breakout that could propel AVAX to new highs. However, amidst the bullish whispers, experts advise a dose of cautious optimism before investors jump on the bandwagon. Related Reading: 36% Explosion! ENS Coin Steals The Spotlight In The Crypto Market A Consolidation Phase Hints At Breakout Potential The current price movement of AVAX has analysts glued to their charts. The coin is consolidating within a falling wedge pattern, a technical indicator that often precedes a bullish breakout. This consolidation suggests a healthy correction after a previous downtrend, explains prominent crypto analyst Worlds Of Charts. $Avax Consolidating In Falling Wedge Chart Pattern Seems Like Healthy Correction Has Almost Completed Now Getting Ready For Breakout & Preparing For Bullish Continuation Expecting Move Towards 60-65$ In Case Of Successful Breakout #Crypto #Avax pic.twitter.com/XafWguyk8w — World Of Charts (@WorldOfCharts1) July 1, 2024 The falling wedge is a key signal that AVAX might be coiling up for a significant upward surge, the analyst said. Worlds Of Charts predicts a price surge towards the $60-$65 range if the breakout materializes. Backing this sentiment, CoinCodex, a popular crypto prediction platform, offers a more aggressive forecast. Their data suggests a staggering 227% increase for AVAX, propelling the price to a lofty $91.46 by August 2nd, 2024. On-Chain Metrics Reveal Investor Confidence Meanwhile, on-chain data from IntoTheBlock paints a picture of investor confidence. Over half (51%) of AVAX holders are currently in profit, showcasing a positive long-term outlook. Further bolstering this confidence, a whopping 45% of investors have held onto their AVAX for over a year, indicating a commitment to the project’s long-term vision. Related Reading: Toncoin Price Inches Closer To All-Time High – Will TON Hit $8 This Week? The dominance of large investors, often referred to as whales, in the AVAX ecosystem is another noteworthy point. These whales hold a significant 72% of the circulating supply, contributing to a sense of stability. Whale activity can significantly impact price movements, and their continued investment in AVAX suggests they see value in the platform’s potential. A Call For Measured Optimism The recent price dip also serves as a reminder of the inherent volatility in the crypto market. While the falling wedge pattern suggests a potential reversal, a confirmed breakout remains to be seen. With careful analysis and a well-defined investment strategy, Avalanche could be poised for a significant climb. However, for now, investors are wise to exercise caution and avoid being swept away by the current of bullish enthusiasm. Featured image from Pexels, chart from TradingView
The post Top Memecoins Tokens To Stack In This Crypto Market Correction! appeared first on Coinpedia Fintech News
The cryptocurrency market has displayed a negative price action for the second consecutive day, indicating a rising bearish sentiment in the crypto space. Moreover, top tokens have leveled all their gains from the recent pump, highlighting a mixed sentiment. Following this, memecoins have displayed a similar trend by recording a significant correction in their respective …
The ENS token (Ethereum Name Service) has recently taken center stage in the crypto community, sustaining a 36% rise in in the last week. This steady surge has sparked widespread interest, with some analysts predicting a prolonged bullish trend, while others advise caution. Related Reading: Dogwifhat (WIF) Jumps 21% As Analysts See $4.5 Price Tag ENS: Price Explosion & Renewed Investor Interest ENS, the native token of the Ethereum Name Service, which translates human-readable domain names into machine-readable wallet addresses, surged by over 2% in the past day. This propelled the token as one of the highest gainers today. ENS briefly surpassed the $33 mark. It is currently trading at $31.89, data from Coingecko shows. This excitement wasn’t limited to spot markets; the derivatives sector also saw a ripple effect. Open interest, which reflects the total value of outstanding futures contracts, reached record highs exceeding $160 million, suggesting a dramatic increase in investor participation and speculation around ENS. Furthermore, the funding rate, which indicates the cost of holding futures contracts, shifted from negative to positive territory. This transition points to rising demand for long positions, where investors bet on the price increasing. A positive funding rate indicates a growing pool of optimistic traders expecting further price hikes for ENS. Technical Analysis: Bullish Signals Daily technical analysis of ENS reveals a recent price rally following a period of mixed trends. The most significant development occurred on June 30th, with a substantial price jump pushing the token to $33.21. This bullish momentum has continued, with the RSI (Relative Strength Index) hovering near 70, indicating a strong uptrend. While a high RSI can suggest potential overbought conditions, it also reflects significant buying pressure. However, some analysts caution against interpreting this short-term rally as a guaranteed path to sustained growth. The cryptocurrency market is notoriously volatile, and historical price movements don’t necessarily predict future performance. Related Reading: Ethereum Suffers 3rd Straight Weekly Outflows, Becomes 2024’s Worst Performer Long-Term Prospects & Potential Risks Several factors could be contributing to the recent surge in price and activity. The upcoming ENSv2 upgrade, which aims to improve efficiency and scalability, might be fueling investor excitement. Additionally, the growing adoption of decentralized applications (dApps) within the Ethereum ecosystem could be driving demand for user-friendly domain names facilitated by ENS. Despite the current optimism, potential risks remain. The overall health of the cryptocurrency market can significantly impact individual tokens like ENS. A broader market correction could lead to a pullback in ENS price. Additionally, the success of ENS depends on the continued adoption and growth of the Ethereum network and the dApps built upon it. Featured image from SpaceRef, chart from TradingView
The post Here is What to Expect from Bonk (BONK) & FLOKI (FLOKI) Price Rally in July 2024 appeared first on Coinpedia Fintech News
The crypto markets have become hopeful as Bitcoin price appears to have re-instated an accumulation phase after a minor upswing. Apart from the major altcoins, memecoins have quickly gained immense strength. While the top memecoins like Dogecoin, Shiba Inu, Pepe & dogwifhat prices are consolidating, Bonk & FLOKI prices have maintained a strong ascending trend. …
The post Crypto Market Report Q2 2024: Solana and Litecoin Attract $3M Combined Inflows Last Week appeared first on Coinpedia Fintech News
As the second quarter of 2024 just concluded, a weekly report from CoinShares shows that digital asset investment products registered three consecutive weeks of cash inflows. Last week, the total cash flow of digital asset investment products amounted to a negative $30 million. Ethereum’s investment products recorded a cash outflow of about $60.7 million in …
The post Top Ethereum-based Tokens To Buy For This July! appeared first on Coinpedia Fintech News
The cryptocurrency market has started the month of July on a strong bullish note by adding over 4% to its global valuation within the past 24 hours. Moreover, the altcoin leader, Ethereum price, has regained momentum and jumped 3.26% within the past day. Following in their footsteps, the ETH-based tokens have displayed a similar trend …
The post Raoul Pal Predicts Explosive Altcoin Rally: Here Are His Top Picks appeared first on Coinpedia Fintech News
In a recent video analysis by Savvy Finance, analysts decoded Real Vision founder and CEO Raoul Pal’s insights on the upcoming altcoin season. Pal highlighted the market phases, referring to the current “boring zone” as nearly complete and anticipating the transition to the “banana zone,” where significant market activity is expected. He predicted a 10x …
The post Identifying The Next Big Altcoin This Market Cycle appeared first on Coinpedia Fintech News
Cryptocurrency analyst Scott Melker recently had a conversation with Dan Tapiero, Founder of 1Roundtable Partners and the duo opened up about the current state of the market. Melker questioned Dan if a drop in the Federal Reserve’s interest rates from 5% to 3% could significantly boost Bitcoin’s price, possibly pushing it above $100,000. Melker said …
The post Top Memecoins For 10X Surge This July! appeared first on Coinpedia Fintech News
The crypto market is on the verge of concluding the month of June on a bearish note, highlighting a rising bearish sentiment in the crypto space. Moreover, top tokens have entered into a consolidated phase, suggesting uncertainty in future price action. However, mid-cap and low-cap memecoins have gained significant attention from the cryptocurrency market over …
The US Securities and Exchange Commission (SEC) has instituted a lawsuit against Metamask developer, Consensys. The Commission alleges that the crypto firm violated securities laws by acting as an unregistered securities broker. Related Reading: Chainlink (LINK) To Hit New Highs? Analysts Predict $25 Target SEC Accuses Consensys Of Violating Securities Laws Using Metamask According to the court document, the SEC claims that Consensys has acted “as an unregistered broker of crypto asset securities through its MetaMask Swaps service” since October 2020. The Commission also accused the crypto firm of engaging in the unregistered offer and sale of securities through crypto staking programs. The SEC stated that Consensys has brokered over 36 million crypto transactions since 2020 through its MetaMask Swaps, at least 5 million involving crypto asset securities. Metamask is known as one of the most widely used crypto wallets. In addition to storing their crypto assets on the application, users can buy and sell cryptocurrencies by swapping one crypto asset for the other. This ‘Swap’ service forms the focal point of the SEC’s enforcement action. The SEC claims that some of these crypto assets are securities, and by enabling users to swap these securities, Consensys acted as an unregistered securities broker, thereby violating securities laws in the process. The SEC went further to list Polygon (MATIC), Decentraland (MANA), Chiliz (CHZ), The Sandbox (SAND), and Luna (LUNA) as the crypto securities that were made available for trading on Metamask’s swap platform. Additionally, the SEC accused Consensys of performing a “traditional function of the securities market” by offering and selling securities for Lido and Rocket Pool. The Commission claimed that the staking programs offered by Lido and Rocket Poo are investment contracts and that Consensys was in the wrong by offering these securities through unregistered transactions on its ‘MetaMask Staking’ platform. The Genesis Of The Legal Battle Between SEC And Consensys Interestingly, the SEC’s lawsuit against Consensys comes just months after the crypto firm filed a lawsuit against the Commission, accusing the SEC of an “unlawful seizure of authority.” Consensys sought Judicial relief against a potential action from the SEC. They also asked the court to declare that Ethereum wasn’t a security and that the SEC had no jurisdiction over crypto-related matters. The crypto firm looked to have won that battle, considering that the SEC dropped its investigation into Ethereum’s status as a security. However, in the letters informing Consensys about the Commission’s decision to drop its investigation into Ethereum, the SEC had warned the crypto firm that they could bring enforcement actions against them relating to other issues, which they have now done. Related Reading: Don’t Sweat The Dip! Ethereum 15% Price Slump Could Spark Epic Comeback — Analyst Reacting to the SEC’s lawsuit, Consensys stated that it would “vigorously pursue” the lawsuit it had initially filed against the SEC. The crypto firm also remarked that they had fully expected” the SEC to follow through with its threat of claiming that MetaMask had to be registered as a securities broker. Featured image from CNBC, chart from TradingView
The post What to Expect from the Memecoins in the H2 2024? Will DOGE & SHIB Lead the Rally or the PEPE or WIF Maintain Dominance? appeared first on Coinpedia Fintech News
Ever since the crypto markets gained strength and triggered a healthy upswing, the memecoins have ranged within no time. Of all the tokens, WIF, FLOKI, and BOME prices have been displaying acute strength, while PEPE and BONK follow the trend. On the other hand, Dogecoin (DOGE) & Shiba Inu (SHIB) seem to be waiting for …
America’s largest crypto exchange, Coinbase has revealed plans to list popular doggy-themed cryptocurrency, Shiba Inu (SHIB) for its futures contracts. The exchange has submitted an official filing to the Commodity Trading Futures Commission (CFTC) to begin trading as soon as possible. Related Reading: More Than A Laugh: What’s Driving The Insane Growth Of Memecoins In […]
The post Altcoins Almost 100% Away From Previous ATHs; What Does This Indicate? appeared first on Coinpedia Fintech News
Recently, altcoin sentiment has been a hot topic due to their performance, with June being particularly volatile. Bitcoin is currently 25% away from reaching a new all-time high (ATH). In contrast, altcoins are almost 100% away from their previous ATHs. Will this change anytime soon? With this in mind, let’s look at the second-largest cryptocurrency, …
The realm of cryptocurrency ETFs appears to be now expanding, yet not all digital assets are poised for an easy transition into this financial product. GSR’s recent analysis of the potential for ETFs across various crypto has brought forward insights that place XRP and Cardano in a challenging position for ETF adaptation. Using a comprehensive […]
Solana (SOL), a cryptocurrency renowned for its fast transaction speeds, might be on the verge of a significant comeback. Technical analysts are drawing parallels between the current price chart and a previous pattern that preceded a substantial price surge in 2022, sparking optimism for a bullish reversal. Related Reading: Don’t Sweat The Dip! Ethereum 15% Price Slump Could Spark Epic Comeback — Analyst Solana: Chart Pattern Suggests Possible Rebound The buzz among analysts centers around a descending triangle pattern visible on SOL’s current chart. This pattern, often observed during a consolidation phase after a downtrend, typically indicates a continuation of the decline. However, when such a pattern forms after a significant price drop, it can also signal a reversal. I’ve seen this movie before.$SOL pic.twitter.com/ByKj3VgSkD — Jelle (@CryptoJelleNL) June 27, 2024 Jelle, a well-known crypto analyst and investor, has been actively discussing this pattern on social media. “I’ve seen this movie before,” the analyst says, as they draw comparisons between the current chart and the one that led to SOL’s breakout in 2022. Back then, the breakout resulted in a notable price increase, and many analysts are hopeful for a similar outcome this time around. Approaching A Critical Juncture The current price action of SOL mirrors the pre-breakout phase seen in 2022. The price appears to be nearing the bottom of the descending triangle, a critical point where a breakout is anticipated. If history repeats itself, as Jelle suggests, this breakout could propel SOL upwards, potentially reversing its recent slump. However, it’s essential to approach this with a degree of caution. While technical indicators are valuable tools, they are not foolproof predictors of market behavior. The cryptocurrency market is influenced by numerous factors beyond chart patterns, including market sentiment, developments within the Solana ecosystem, and broader economic conditions. Mixed Signals And Market Sentiment Despite the inherent uncertainties, the overall sentiment surrounding SOL appears cautiously optimistic. According to recent analysis, there is a bullish leaning, with predictions suggesting a potential price increase of 16% by July 28, 2024. This forecast aligns with current technical indicators, which show a neutral Fear & Greed Index at 47 and a significant number of green days (43%) in the past month. The coming weeks will be crucial for SOL. A decisive breakout above the upper trendline of the descending triangle would serve as strong confirmation of the bullish reversal thesis, potentially igniting a new wave of investor confidence. Conversely, if SOL fails to break out of this pattern, it could lead to continued consolidation or even a renewed decline. Eyes On The Future Solana’s chart pattern has evoked a sense of déjà vu, reminiscent of the bullish surge in 2022. The big question is whether this pattern will indeed lead to a similar outcome or if it will turn out to be a case of history not quite repeating itself. Featured image from Facts.net, chart from TradingView
The post Meme Coins to Watch: BONK, BOME, and MOG Lead the Bull Run with 100% Gain Potential appeared first on Coinpedia Fintech News
The broader market starts early, with Bitcoin preparing a bounceback from the crucial psychological support of $60,000. As meme coins are the bull run torchbearer this year, smart money closely follows trend reversals and the launch of new and trending coins. With the market on the verge of a bull run, the recent surge in …
The post Top Three Altcoins Set to Skyrocket appeared first on Coinpedia Fintech News
Explosive Gains Ahead: There’s growing concern about a potential further decline in Bitcoin’s price. On June 26, Bitcoin’s price fell back to $61,000, further alerting the investors. Analyst Altcoin Buzz took to his latest analysis and asked ‘Are we on the brink of a bigger dump in Bitcoin’s price?’ Meanwhile, he said that three altcoins …
Ethereum, the second-largest cryptocurrency by market capitalization, has experienced a significant decline in value recently. Over the past month, its price has dropped by 15%, leading to concerns among investors about the future of this digital asset. The current situation raises questions about whether this downturn signals a prolonged decline or if it is merely a temporary setback before a potential recovery. Related Reading: Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase Despite the price decrease, some analysts remain optimistic about Ethereum’s prospects. Prominent cryptocurrency analyst Yodhha has identified technical patterns that may indicate a forthcoming reversal in Ethereum’s fortunes. Ethereum: Signs Of Potential Reversal? Yodhha’s analysis highlights two key chart formations: the Inverse Head & Shoulders and the Falling Wedge (also known as a Bull Flag). The Inverse Head & Shoulders pattern, a common indicator of a market reversal, suggests that a downtrend may be shifting towards an uptrend. The Falling Wedge pattern, which occurs when the price is temporarily confined within a narrowing range, often precedes a breakout and continuation of an uptrend. $ETH Anytime now… pic.twitter.com/qF4uiWquFI — Yoddha (@CryptoYoddha) June 26, 2024 These technical indicators, along with other markers, suggest that Ethereum may already be on the verge of entering bullish territory. Yodhha’s analysis also identifies specific price levels that, if surpassed, could lead to a significant price increase for Ethereum. Impact Of Regulatory Developments In addition to technical analysis, regulatory developments play a crucial role in the cryptocurrency market. One of the most anticipated events is the potential approval of a spot Ethereum Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission. Industry experts speculate that this approval could come as early as July 4th, a date that could mark a significant milestone for Ethereum. Financial services firm StoneX predicts that the approval of an Ethereum ETF could lead to a substantial increase in the cryptocurrency’s price. According to StoneX, Ethereum could see a price rise of up to 40% within two months following the ETF’s launch. This surge in investor interest could help Ethereum recover from its recent slump and reach new price highs. StoneX’s projections suggest that Ethereum’s price could range from $2,140 to as high as $12,620 over the next two years, even under more conservative scenarios. Related Reading: Chainlink (LINK) To Hit New Highs? Analysts Predict $25 Target Investment Considerations The recent decline in Ethereum’s price may offer a compelling opportunity for investors. With technical indicators suggesting a possible bullish reversal and the potential for significant regulatory developments, Ethereum’s future could be brighter than its current performance suggests. Investors should consider these factors when evaluating their investment strategies in the cryptocurrency market. Featured image from HCA Healthcare Today, chart from TradingView
The post Avalanche (AVAX) & Polkadot (DOT) Initiate a Recovery, Hoping to Rise by 40% in July 2024 appeared first on Coinpedia Fintech News
The crypto markets are showing some signs of closing the crucial month on a positive note, as most of the tokens have been painted green. With the increased demand for primitive tokens, liquidity appears to be returning to larger tokens. Hence, Avalanche (AVAX) & Polkadot (DOT) prices have surged heavily by over 8% since the …
The post Bitcoin Price Reacts to Biden-Trump Debate; Altcoins Drift Into Green Zone appeared first on Coinpedia Fintech News
President Joe Biden and former President Donald Trump had a heated face off at their first 2024 presidential debate today. From deep discussions on abortion policies to tackling inflation and addressing global conflicts in Ukraine and Gaza, the debate took a sharp turn when both sides hurled nasty accusations. However, what disappointed keen crypto enthusiasts …
Ethereum (ETH)’s struggles to regain the last cycle’s heights have brewed a bearish sentiment among some sectors of the crypto community. Its performance during Q2 has seemingly continued to fuel the sentiment. However, with rumors of an ETH ETF (Exchange-Traded Fund) approval being around the corner, analysts believe the ‘King of Altcoins’ is about to hit the “ETH season.” Related Reading: Bitwise CIO Expects $15 Billion To Flow Into Spot Ethereum ETFs, How Will ETH React? Will Ethereum Spot ETF Come Next Week? On Wednesday, Reuters revealed sources close to some investment firms believe that Ethereum ETFs will be approved next week. The rumors follow the Securities and Exchange Commission (SEC) Chair, Gary Gensler, comments regarding the investment products’ approval. Earlier this week, Gensler spoke at the Bloomberg Invest Summit, revealing that the approval process is “working smoothly.” The launch of the highly anticipated products is expected to come this summer and could be as early as July. According to Reuters, industry executives and lawyers involved with the applicants believe the Ethereum ETF could be approved within the next two weeks. Per the report, the ETH approval could come as soon as July 4. A month ago, ETH’s price soared by over 30% in anticipation of an SEC’s approval, going from the $3,000 mark to the $3,900 price range. Since then, the second-largest cryptocurrency has retraced to the $3,200 support zone. Nonetheless, the ‘King of Altcoins’ saw a positive impact from the recent ETF rumors. Ethereum rose by 2.5% following the news, recovering the $3,400 support zone it lost at the beginning of the week. Is ‘ETH Season’ Around The Corner? Crypto analyst Jelle believes that ETH might be ready for take-off despite the expectations of “an underwhelming ETF launch.” To the analyst, ETH “looks ready for a massive push higher” as it tests key levels the week before the alleged approval. Per his chart, the cryptocurrency is testing the support of a downtrend within the accumulation range. Jelle considers that if ETH pushes into $4,000 again, it might not “stop anytime soon.” To him, the “nearly three years in the making breakout” into the expansion zone will kickstart the “ETH season.” Similarly, Daan Crypto Trades pointed out that Ethereum is still consolidating against a “massive 2-year-long downtrend line.” Per the trader, the May pump highs are the place to break. A “higher high above 0.0575” would “flip the market structure to bullish.” Moreover, Crypto Yoddha highlighted the falling wedge pattern in the ETHBTC chart. The trader suggested that a breakout will come “anytime now.” This analysis was also shared by trader Miky Bull, who considers Ethereum “fully ripe for a rally from the retest of fib .618 level.” Related Reading: Ethereum Price Roadblocks: What’s Hindering A Fresh Increase? Despite being down by over 10% from the May pump, ETH has seen a 3.6% increase in the last 24 hours. As of this writing, the ‘King of Altcoins’ is exchanging hands at $3,450. Featured Image from Unsplash.com, Chart from TradingView.com
Solana has been thrown into a tailspin after a shocking revelation: its daily stablecoin volume may have been significantly inflated. Reports indicate a staggering drop – from a dizzying $75-100 billion to a mere $7 billion in a 24-hour period. This dramatic shift has unsettled the crypto community, raising serious questions about the legitimacy of Solana’s past performance and its future as a DeFi powerhouse. Related Reading: Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase Wash Away The Hype: Inflated Figures Or Fabricated Reality? Market sentinels are pointing fingers at wash trading, a manipulative practice where investors essentially buy and sell crypto back and forth to each other, creating an illusion of high activity. This tactic inflates trading volumes, potentially misleading investors about the true level of adoption and liquidity on the platform. Amazing how Solana went from $75-100 BILLION DAILY stablecoin volume to $7 BILLION daily in 1 day!! Might it be because the data was totally fake??? Like how I’ve been talking about all these months?? And by the way even at $7 Billion 90% of the volume is still fake https://t.co/CnKWGAbjsM pic.twitter.com/ScfCgv5UhS — Wazz (@WazzCrypto) June 25, 2024 The discrepancy is too large to ignore. While some wash trading might occur on any exchange, a legitimate DeFi ecosystem shouldn’t be so heavily reliant on it. This raises serious concerns about the organic growth of Solana’s stablecoin market. The finger of suspicion falls particularly on USDC, a leading stablecoin pegged to the US dollar. Experts estimate that even with the revised $7 billion volume figure, a staggering 90% could still be inflated. This throws a wrench into Solana’s narrative as a DeFi leader, potentially shaking investor confidence. Investor Jitters And The Road To Redemption The sudden data plunge has unnerved investors who made decisions based on the previously reported figures. This could lead to a sell-off, causing short-term volatility in the Solana market. Additionally, the revelation comes at a sensitive time – just ahead of the highly anticipated Ethereum ETF deadline, which some believe could have boosted Solana’s DeFi activity further. This is a major blow to Solana’s credibility. Investors need to be able to trust the data they’re basing their decisions on. Regaining that trust will require a swift and transparent response from Solana’s development team. SOL market cap currently at $63 billion. Chart: TradingView.com Beyond The Hype: Does Solana Still Have DeFi Potential? While the data debacle undoubtedly casts a shadow on Solana’s recent performance, it doesn’t negate the platform’s strong technological foundation. Solana boasts one of the fastest and most scalable blockchains in existence, making it a technically sound option for DeFi applications. Related Reading: Injective (INJ) Price Prediction: Analyst Foresees Huge Jump To $380 The coming weeks will be critical for Solana. How the platform addresses the data controversy and implements reforms to ensure transparency will determine whether it can weather this storm and reclaim its position as a viable DeFi contender. Featured image from YouTube, chart from TradingView
Quinn Thompson, Chief Investment Officer (CIO) at Lekker Capital, articulated a strong buy signal for cryptocurrencies amidst a landscape fraught with bearish sentiment. In a statement released through the social media platform X, Thompson described the present market conditions as “one of the most obvious and attractive crypto buying opportunities of recent memory.” Lekker Capital, which has carved a niche in trading cryptocurrencies based on macroeconomic cues, provides an analysis that contrasts sharply with the prevailing market mood. Thompson’s commentary comes at a time when the broader crypto community appears enmeshed in pessimism. He expressed concern over the current trend where it’s become fashionable among crypto investors to adopt a bearish stance. “In all of my 5 years in crypto, I have never seen it be so ‘cool’ amongst crypto native investors as it is right now to be bearish,” Thompson noted, reflecting on the cyclical nature of market sentiments. Related Reading: ‘Crypto Queen’ Wanted: FBI Puts $5 Million Price Tag On OneCoin Founder’s Arrest Thompson pointed to the reactive nature of the market, particularly surrounding major events like ETF launches. He revisited the aftermath of the US spot Bitcoin ETF launch, which contrary to the bullish anticipation, saw Bitcoin’s price plunge from $49,000 to $38,000, marking a steep 22% decline in just 12 days. This event, he argued, should serve as a cautionary tale about the market’s tendency to move against consensus expectations. Addressing the most recent market dynamics, Thompson highlighted the significant impact of the sell-off that dampened the spirits of market participants, discouraging the usual strategies of buying the dip with leveraged positions. “It’s clear this most recent selloff has finally stung market participants given the lack of leveraged long dip buying,” he observed. This scenario, according to him, sets the stage for a market correction that typically follows a pattern of initial slow recovery, stabilization, and then a rapid upward movement once a catalytic event occurs. He recalled the BTC ETF leak in October as a “buy the news” event that realigned market sentiment. Furthermore, Thompson discussed the forward-looking nature of financial markets, emphasizing that the crypto market is no exception. He believes that the market has already adjusted to past events such as the Mt. Gox saga and Bitcoin sell-offs from the US and German governments. “The key thing to remember here is markets are forward looking. Citing the Mt. Gox or US and German government supply overhangs is old news – the market has priced this in. Fear and capitulation invokes an irrational near-sightedness,” the Lekker Capital CIO remarked. Related Reading: Here’s Why The Bitcoin Bottom Is In, New Highs Imminent: Crypto Expert Looking ahead, he underscored several macro and microeconomic developments poised to influence the market. “On the macro front, these include a November election and additional Fed liquidity. On the micro front, they are the ETH ETF, Circle IPO, and improved BTC miner profitability thanks to AI,” he explained. These factors are expected to reduce selling pressure (e.g. Bitcoin miners) and invigorate market sentiment. Delving deeper into market technicals, Thompson pointed out that several key indicators are at cycle lows, which historically precede upward movements. He noted, “BTC and ETH CME basis, alt open interest as a percentage of total, and macro relative value all sit at cycle lows while stablecoin supply is finally growing again.” This combination of factors, according to Thompson, signals a potential market bottom forming. In a bold closing prediction, Thompson projected significant rallies for major cryptocurrencies in the near future. “Personally, I think ETH will reach $7,000 and BTC will make its first attempt at $100,000 by the election in November,” he stated confidently. At press time, BTC traded at $60,766. Featured image from Shutterstock, chart from TradingView.com
The post Ethereum vs. Layer 2 Tokens: Which is the Better Crypto Investment? appeared first on Coinpedia Fintech News
The DeFi report crypto analyst Michael Nadeau, kicks off his analysis by highlighting Ethereum’s progress and the current positive market conditions. He points out that Ethereum is scaling effectively through Layer 2 (L2) solutions, anticipates an ETF trading by summer, and notes influential figures like Larry Fink discussing tokenization. Plus, with potential rate cuts on …
The post Crypto Market Crash: These Altcoins Are Outperforming Bitcoin appeared first on Coinpedia Fintech News
On Crypto Banter’s The Sniper Trading Show, the analyst opened up about the short-term outlook for Bitcoin. He said that the coin may aim for the $62,000 to $63,000 range, and any break above $62,000 could push it towards $65,000. Closing above these levels this week would be a strong sign. However, there’s also a …
The post ‘Most Altcoins Are Completely Worthless And Dead’: Expert Reveals Why Altcoins Will Underperform This Time appeared first on Coinpedia Fintech News
Jonah Van Bourg, former oil derivatives trader at Goldman Sachs and Vitol and crypto and precious metals trader at DRW, recently shared why he is confident in his contrarian view on altcoins. He proposed a systematic strategy: buy an index of the top thousand altcoins, market cap-weighted, when Bitcoin has been in a bull market …
The post Top Indicator Points to Inevitable Crypto Market Rebound to New ATHs Ahead appeared first on Coinpedia Fintech News
The altcoin industry led by meme coins will soon experience a major rebound after being trapped in a correction mode in the past few weeks. Increased fear of further crypto capitulation triggered by the Bitcoin (BTC) price drop below $60k on Monday, has increased calls for a market rebound. Moreover, Bitcoin’s daily Relative Strength Index …
In a new video titled “If I Had To 10X My Money, I’d Only Hold These 4 Altcoins!” aimed at shedding light on potential bull market leaders, renowned crypto analyst Miles Deutscher dissected the crypto landscape to pinpoint four altcoins that he believes could significantly outperform the market. His insights came in response to a query from his Discord channel about potential 5x to 10x gains during the current bull market. Deutscher believes that success in the crypto markets doesn’t necessarily come from holding a vast array of coins but rather from carefully selecting a few that have strong potential narratives. He articulated this during his presentation, stating, “You don’t need to own 30, 40, 50, 60 altcoins in order to get your desired returns. In fact, if you select the right coins and pick the right narratives, you could potentially succeed in this market with three, four, or five altcoins.” He also provided strategic insights into the typical market behaviors during the summer, a period he describes as a regular seasonal downturn across the crypto industry. He used historical data to support his claim, emphasizing that even during bullish years, cryptocurrencies have suffered during the summer months. Deutscher reassured his viewers by saying, “Even in the most bullish years for crypto, like 2021, majors were looking really bad during summer months […] so why would you now start to panic?” Deutscher’s Top 4 Altcoin Picks Deutscher chose coins based on their potential for significant returns and their strategic position within the market: #1 Ethereum: ETH holds the premier position in Miles Deutscher’s selection due to its established role as the leading smart contract platform in the crypto sphere. Ethereum’s upcoming catalysts, particularly the anticipated approval of US spot Ethereum ETFs, are seen as significant potential value drivers. Deutscher underscores its importance by stating, “Ethereum sits at a $428 billion fully diluted valuation versus Bitcoin which sits at $1.2 trillion. I think Ethereum is at a reasonable market cap now.” Related Reading: ‘Crypto Winter’ Arrives Early For The Altcoin Market As Venture Capital, Founder Selloffs Mount He doesn’t predict a 10x return from Ethereum in this cycle, but he values its potential for steady growth, making it a cornerstone in a well-diversified crypto portfolio. Deutscher further supports his choice by noting the technical aspects: “Ethereum has been in a strong uptrend all the way since $1,500,” indicating its resilience and bullish trends. #2 Pepe: PEPE, a meme coin with a strong cultural footprint, is Deutscher’s second pick. He believes Pepe could perform exceptionally well in a favorable market environment, driven by its strong mindshare and position as a leading meme coin alongside giants like Dogecoin and Shiba Inu. Deutscher explains, “Pepe is not only the strongest proxy to trade Ethereum’s risk-on proxy that is, but it’s also one of the meme coins in the market with the strongest mind share behind DOGE and SHIB.” #3 Solana: SOL is chosen for its technological prowess and its significant adoption among developers and users in the crypto community. Deutscher views Solana as a potent mix of innovation and market potential, saying, “Solana has been the home of meme coins, it’s been the home of degeneracy. It’s made strides in terms of its technology adoption, lots of devs building on Solana.” He acknowledges the high valuation of Solana but suggests it offers a favorable risk-reward balance, predicting that “SOL could potentially go to $1,000 in a really crazy market.” Solana’s potential to scale and its strong community engagement positions it as a robust candidate for substantial mid-term gains. Related Reading: Bitcoin Crash To $61,000 Drives 24-Hour Crypto Liquidations Toward $300 Million #4 WIF: Dogwifhat complements Solana in Deutscher’s portfolio, serving as the meme coin counterpart to Solana’s technological base. WIF, according to Deutscher, balances the conservatism of more established coins like Ethereum and Solana with a higher risk and potentially higher return profile. He believes WIF is a key player in the meme coin sector and a strategic pick for those looking to capitalize on volatile market segments. He remarks on its performance and strategic positioning, “WIF has been a major sell-off; it’s actually trading below a major range low […] But if you believe in WIF like I do as a cycle long meme coin bet and a Solana play, you could just average in the lower it goes.” Crypto Investment Strategy And Practical Advice Deutscher’s overarching strategy blends conservative, foundational investments with higher-risk, potentially high-reward opportunities. He advocates for a portfolio construction that involves a strategic division between core holdings (80%-90%) and speculative bets (10%-20%). This approach, he argues, allows investors to capitalize on the upside while managing risk effectively. Reflecting on the importance of market timing and portfolio positioning, Deutscher advised his audience, “It’s about accumulating on major dips […] and it doesn’t really matter what happens in the interim.” He emphasizes long-term gains over short-term fluctuations, advising investors to stay the course through market ups and downs. At press time, ETH traded at $3,372. Featured image from iStock, chart from TradingView.com
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The start of the day’s trade witnessed the AI tokens leading the rally as AGIX & FET prices launched a 20% rise. As the trade progressed, the gains consolidated within a range, paving the way for the memecoins to gain the top spot. At present, the dogwifhat (WIF) price is leading the rally, followed by …