Altcoin
Is This the End of Bitcoin, Altcoin Bull Market? Analyst Speak Out
The cryptocurrency market has experienced significant turbulence recently, raising questions about the longevity of the current bull market in Bitcoin and altcoins.
Analysts and industry insiders offer varied perspectives on the future of Bitcoin and altcoins, reflecting on market trends, macroeconomic factors, and investor behavior.
Analysts’ Predictions on Bitcoin, Altcoins
Bitcoin investor Murad Mahmudov highlighted two possible scenarios for Bitcoin’s future. He suggested that if the price remains above $60,000, the bull market might continue following the typical four-year cycle.
However, depending on macroeconomic conditions, a global recession could drive Bitcoin’s price down to $30,000.
Likewise, Julio Moreno, Head of Research at CryptoQuant, pointed out the high probability of Bitcoin reaching $60,000. He said that Bitcoin is at a crucial price level, around the short-term holders’ realized price of $62,800.
This metric could either provide support or lead to an 8% to 12% correction if the price drops below this level, potentially bringing Bitcoin down to about $60,000.
From a technical perspective, trading veteran Peter Brandt warned that breaking through the $60,000 support levels could lead to further declines. He noted that a drop below $60,000 might see Bitcoin reaching $48,000.
Read more: Bitcoin (BTC) Price Prediction 2024 / 2025 / 2030
Meanwhile, market analyst Bob Loukas took a more moderate stance, predicting a period of consolidation similar to what was observed last summer. He emphasizes the possibility of a repeated pattern, suggesting that patience might be required as the market stabilizes.
“Last summer’s consolidation, visualized this summer. Not saying it’s going to repeat, but serves as a reminder of what’s possible and the patience that might be needed,” Loukas said.
Will Clemente, co-founder of Reflexivity Research, also anticipates a consolidation phase. He has adjusted his investment strategy, retaining only core Bitcoin holdings and a few other positions.
Clemente believes that while Bitcoin might experience a sideways movement during the summer, there is potential for higher prices in the fourth quarter, influenced by economic data and Federal Reserve actions.
Regarding altcoins, Andrew Kang, co-founder of Mechanism Capital, expressed caution. He remains unsure if the momentum generated by Bitcoin exchange-traded fund (ETF) approval will extend to altcoins, particularly Ethereum. While Bitcoin might see increased interest, he doubts the same for Ethereum ETFs.
Read more: What Is Altcoin Season? A Comprehensive Guide
Despite the pessimistic outlook, analysts at blockchain analytics firm Santiment noted the current market sentiment. They observe heightened fear among investors as Bitcoin’s price drops to $65,000. If panic selling continues, this fear could lead to a temporary bounce and a buying opportunity.
“Spikes in mentions of selling or taking profit are common after a drop, and a temporary bounce and buy opportunity may form if we see continued FUD and panic from small traders,” Santiment explained.
In summary, the future of the Bitcoin and altcoin bull market is uncertain. Potential outcomes range from significant corrections to periods of consolidation. The direction will largely depend on macroeconomic factors and shifts in investor sentiment.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Altcoin
RCO Finance to Lead in Upcoming Market Rally as Toncoin and Cardano See Further Losses
Projects like Toncoin (TON) and Cardano (ADA) have long been popular with investors and are known for their unique innovations and community-driven support.
However, recent performance trends have sparked concerns about these tokens’ ability to withstand market challenges. Let’s explore the latest on Toncoin and Cardano and why RCOF is attracting a growing number of investors.
Toncoin’s Recent Struggles and Price Forecast
Telegram founder and CEO Pavel Durov appeared in Dubai over the weekend, albeit in spirit. Drawings plugged in a video game inspired by Durov on a giant chalkboard during the annual conference for The Open Network.
TON has recently seen a significant drop in value, driven by market conditions and the struggles of its tap-to-earn projects like HMSTR. TON trades at $4.78, with forecasts suggesting further struggles unless significant changes or partnerships materialize.
While the TON network remains promising in Web3, analysts caution about its near-term growth due to heavy competition. However, a recent Toncoin price forecast indicates that by December 4, the price of Toncoin will have increased by 227.30% to $15.66.
Cardano Faces Price Pressure Amidst Market Uncertainty
Charles Hoskinson, the founder of Cardano, has responded to demands for openness in the blockchain’s ecosystem. Plutus Staking on X posted a brief video clip in which Hoskinson explained to users his sacrifices for the community.
With ADA trading at $0.328, Cardano’s ecosystem faces challenges due to a slowdown in development and increasing competition from newer projects. Cardano has also encountered criticism regarding the delayed rollouts of its key functionalities, making it harder for the token to regain traction.
A recent analysis of projected 2024 Cardano prices indicates that the lowest price will be $0.313. The ADA price might go up to a maximum of $0.338. However, market uncertainty has led some investors to reassess their positions, with many shifting focus toward emerging DeFi projects that offer higher growth potential.
Why RCO Finance Could Outpace Toncoin and Cardano in the Next Market Rally
RCO Finance redefines accessible investing through its no-code AI platform, allowing users to optimize their portfolios easily. The platform empowers anyone to engage in trading by eliminating the need for programming knowledge. This simplicity removes traditional entry barriers and ensures a smooth experience for all.
Central to this system is RCO Finance’s AI-powered Robo Advisor, which customizes investment strategies by analyzing market trends and user-specific data. By automatically adjusting portfolios, the Robo Advisor helps users stay aligned with their financial objectives without constant manual intervention.
This ensures that all investors, from novices to experts, can confidently manage their assets through intuitive, data-driven strategies.
RCO Finance has passed a Solidproof audit, adding an extra layer of trust and reinforcing the platform’s dedication to security and transparency.
This verification provides users with assurance of the platform’s integrity, while the privacy-first, KYC-free model offers a streamlined, private way to participate in decentralized finance.
Altogether, RCO Finance’s blend of AI technology, Robo Advisor, and secure ecosystem presents a comprehensive solution for those seeking ease and innovation in their financial journey.
How Meagre Investments in RCOF Could Yield Huge Returns
For investors seeking substantial returns in a challenging market, RCO Finance offers an attractive entry point. At the current presale price of just $0.056, even a modest $10 investment could grow to over $12,000, reflecting the project’s impressive growth forecast of 12,000% as it reaches its target price on exchanges.
With interest pouring in from across the DeFi and traditional finance sectors, RCOF presents a unique opportunity for investors to capitalize on an AI-powered project with real utility and strong growth potential. As Toncoin and Cardano struggle, RCOF stands out as a forward-thinking project likely to lead the market’s next wave of growth.
For more information about the RCO Finance Presale:
Altcoin
Will Polygon MATIC Price Hit $1 on AggLayer, Trump Trade?
Polygon could be poised for a breakthrough, with $1 in near term. Trump recent election win has ignited bullish energy across the crypto market bringing bull market era, while the upcoming Aggregation Summit, AggLayer, promises to add momentum.
This AggLayer brings the brightest minds in the industry to tackle challenges like cross-chain solutions, advanced ZK technology, and next-gen security. The buzz around AggLayer could drive fresh demand for POL token, potentially lifting its value.
AggLayer Summit and Trump’s Win: A Perfect Storm for POL Token
The AggLayer Summit, happening in Bangkok Nov 10-11, will bring together leading experts in the crypto space to address some of the most important challenges facing blockchain today. This event will focus on the extensive AggLayer ecosystem, categorised into AggChains, Core Contributors, and RaaS Providers. The ecosystem includes prominent entities like TON Blockchain, Fabric, Succinct, and AltLayer, all collaborating within this unified framework.
Meanwhile,Donald Trump recent election victory has sparked a wave of optimism in the crypto market. Many investors believe his win will lead to policies that favor digital assets, boosting the sector’s growth. As a result, there’s been a noticeable shift toward a more bullish market, with expectations for favorable regulations and increased adoption of crypto. This new political landscape is fuelling optimism and could be a major factor in pushing the market to new heights, benefiting both established and emerging crypto assets.
Polygon Price Analysis: Breakout and Volume Insights
Polygon’s native POL token recently achieved a breakout on the daily chart, currently trading at $0.34. Over the past 24 hours, the price has fluctuated between $0.32 and $0.34, reflecting a 6% increase over the last week. With a 24-hour trading volume of $113 million, market activity and investor interest are clearly on the rise, signaling strength in Polygon’s current position.
As the market remains bullish, Polygon’s breakout and strong volume suggest a potential rally toward the $1 mark. The upcoming AggLayer Summit, alongside global developments like Trump’s election win, are likely to further fuel market momentum.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Ethereum Foundation Launches Pectra Tesnet ‘Mekong’, ETH Price Set For $4000
Ethereum Foundation on Thursday announced launch of its first short-lived Pectra testnet ‘Mekong.’ This testnet includes all the EIPs proposed for the upcoming Pectra upgrade on the Ethereum network. Will this trigger ETH price rally to $4000 as the price jumped 8% in the last 24 hours?
Ethereum Foundation Introduces Mekong Tesnet for Pectra
In an official announcement by Ethereum Foundation on November 7, the first short-lived Mekong testnet was introduced after scoping the Pectra fork and four DevNet events
The foundation said the Mekong testnet consists of all the EIPs proposed for the next major Pectra upgrade. It includes changes such as UX changes via EIP-7702, staking changes via EIP-7251, changes to the deposits and exit mechanisms via EIP-6110 and EIP-7002.
The Mekong testnet is focused on wallet developers to engage with UX changes and for stakers to gain confidence in the upcoming changes. This is a short-lived testnet but the features included will make it into existing public testnets and finally the mainnet.
In addition, Ethereum developer Tim Beiko reveals ethPandaOps has introduced this short-lived Pectra testnet Mekong to introduce major changes in mainnet. Also, this helps the crypto community try out EIP-7702, MaxEB consolidations, and more.
Moreover, Ethereum Foundation developer Parithosh recommended wallet teams to try Mekong testnet at the DevCon Week, which will run the entire week of November 9-17.
If you want something to hack on at DevCon, try out the Mekong testnet!
All the pectra EIPs are live: so you can brainstorm your EIP-7702 wallet user flows, deposit a validator to use MaxEB and exit a staking pool validator with a smart contract! https://t.co/GXEqhjrDjS
— parithosh | 🐼👉👈🐼 (@parithosh_j) November 7, 2024
ETH Price to Hit $4000
Bullish sentiment surrounding Donald Trump’s win and DevCon event has triggered the rally. Moreover, the launch of the Mekong testnet to fuel ETH price further. Notably, analyst Benjamin Cowen predicted Ethereum price rally after a bottom formation confirmation in the ETH/BTC pair above the 50 DMA.
Popular analysts Michael van de Poppe and Ali Martinez said Ethereum is in the early bull run stage. With the Pectra upgrade expected to take place in early 2025, whales are likely to buy the dip. Michael van de Poppe suggested that the markets are rotating and ETH will see a massive pump. Notably, a higher-low formation will bring much-awaited upward momentum.
Also, Ali Martinez added that MVRV Momentum crossing its 180-day has historically signaled a period of outperformance for ETH price. The cross hasn’t happened yet and gives an opportunity to buy the dip for more upside ahead for the $4000 psychological level.
ETH price today jumped 8% to a 3-month high, with the price currently trading at $2,800. The 24-hour low and high are $2,611 and $2,878, respectively. However, the trading volume has decreased by 6% over the last day.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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