Bitcoin's current market structure is similar to its setup before reaching its all-time high in November 2021, suggesting a potential bullish trajectory for the leading cryptocurrency, according to crypto expert Credible Crypto, who believes a breakout from the accumulation range could lead to a 120% rally and new all-time highs this year. However, a drop below $24.8k would invalidate this prediction.
Despite the recent market downturn, there are five cryptocurrencies - Hedera (HBAR), XDC Network (XDC), Shiba Inu (SHIB), Astar (ASTR), and XRP (XRP) - that are showing strong potential and can be purchased for less than $1 each, making them attractive options for traders and investors.
Deep-pocketed crypto investors are moving hundreds of millions of Dogecoin as the meme coin tries to recover from market downturns, with large transactions being made from Binance, Robinhood, and an unknown wallet.
Bitcoin's recent correction and retracement of gains linked to BlackRock's BTC ETF application indicate weakness in the market, prompting one crypto trader to stay on the sidelines until Bitcoin either reclaims $30,000 or experiences a major collapse, while also noting that trader sentiment currently favors altcoins.
Dogecoin could reach $0.10 or even $0.20 in the next crypto bull market, with experts providing varying predictions for the end of 2023 and 2025.
The recent crash in the crypto market has significantly impacted memecoins, resulting in a 9% drop in total market capitalization and raising concerns about a broader bear market; however, the underperformance of memecoins during such periods is not necessarily indicative of their long-term performance compared to the wider crypto market.
Bitcoin and other cryptocurrencies are facing intense pressure as prices drop and short-term holders offload their assets, signaling a possible capitulation phase and suggesting further downside potential. Additionally, major altcoins like Ethereum, Solana, and Cardano have witnessed a decline in their Total Value Locked (TVL) over the past week, indicating a decrease in popularity and utilization in the decentralized finance (DeFi) ecosystem.
The cryptocurrency market has experienced a notable downturn, with the total market capitalization falling by 10% and triggering significant liquidations on futures contracts, attributed to factors such as rising interest rates, inflation, delays in approving a Bitcoin exchange-traded fund (ETF), financial difficulties within the Digital Currency Group (DCG), regulatory tightening, and a strengthening US dollar.
Bitcoin and Ether both rose over 3% as the crypto market recovered from its losses last week, while alternative cryptocurrencies also saw gains; however, experts remain divided on the future of prices, with some predicting continued downtrend and others expecting a rebound.
Coinbase Assets will suspend trading for six cryptocurrencies, including BarnBridge, DerivaDAO, Jupiter, Multichain, Ooki, and Voyager, due to falling short of the exchange's listing standards, resulting in price plunges for the delisted assets.
Dogecoin's all-time high price and market cap have decreased, and it requires increased demand to reach previous prices due to its supply inflation model, although current prices offer potential gains for investors. The possibility of Dogecoin reaching its all-time high market cap depends on factors such as development, news, sentiment, and demand. Dogecoin and Litecoin utilize merged mining, which contributes to the correlation of their metrics.
Crypto trader Altcoin Sherpa suggests that the memecoin Pepe is a better investment than Dogecoin due to its promising price action and lower market cap. He predicts that Dogecoin could experience a significant drop of up to 21% from its current level.
Altcoins in the top 100 are struggling to recover, but three undervalued cryptocurrencies (AUCTION, LINA, and SRM) offer traders a buying opportunity, according to on-chain analysts at Santiment.
Despite facing scalability issues and a temporary suspension of its mainnet, the price of Shiba Inu (SHIB) has shown a minor recovery, trading at approximately $0.00000819, but remains overshadowed by broader bearish sentiment in the crypto market. If SHIB can overcome its current resistance level, it may spark a fresh bullish surge, while a rejection could lead to a further downward slide. Additionally, the reintroduction of Shibarium has shown improvement, with faster block times and an expanding user base.
Ethereum's price has surpassed Bitcoin's in the second half of 2023, as investor sentiment towards Ethereum has improved and Bitcoin dominance has declined, indicating a shift towards altcoins; Ethereum's oversold status and resilient consolidation above $1,500 suggest a potential bullish reversal in the coming days, but a drop below $1,500 is possible if bears gain control.
The cryptocurrency market has experienced a recent decline in prices, particularly for Bitcoin, Ethereum, and Dogecoin, leading to concerns among traders and investors. Despite this, there is optimism surrounding the performance of the top 5 altcoins (DOGE, SHIB, SFP, OCEAN, FET) in the coming weeks, with AI-driven projects generating hype and potential gains.
Altcoin Sherpa, a prominent analyst, warns against hasty investments in Dogecoin (DOGE) and Shiba Inu (SHIB) due to their potential downtrends and uncertainties in the current crypto landscape.
Summary: Meme cryptocurrencies, including Pepe, LUNC, and SHIB, have experienced price corrections but show potential for a rebound with bullish reversals and recovery rallies expected.
Summary: XRP, Chainlink, and Dogecoin are the top 3 cryptocurrencies to watch during a potential crypto market downturn, with XRP offering potential returns, Chainlink's critical role in the oracle sector, and Dogecoin's potential integration into Elon Musk's future plans.
Long-term holders of Bitcoin are continuing to accumulate the cryptocurrency despite recent market volatility, indicating a bullish outlook for the future, according to analysts from Bitfinex. However, newer long-term holders who acquired their positions during the bear market are showing more unease and have exited their positions during price drops.
The recent stagnation in the price of Dogecoin following the cryptocurrency market crash has led to a decrease in volatility, with potential for a 170% upward move or a 34% drop, depending on whether the price successfully breaks out of its long-term descending triangle formation.
In September 2023, two cryptocurrencies to watch out for are Dogecoin, which could spike in price if Elon Musk's platform enables cryptocurrency transactions, and Shiba Inu, which has the potential to increase in value if its network successfully burns SHIB tokens.
Crypto prices, including bitcoin and major tokens, experienced a decline due to profit-taking and a general risk-off environment, erasing gains from Grayscale's court victory, with prices weakening ahead of the U.S. jobs report release.
Crypto markets experienced a "Bart Simpson" pattern for the week, as a sell-off following the SEC's decision to postpone Bitcoin ETF decisions erased Tuesday's rally, resulting in a 3.7% slump in cryptocurrency capitalization.
Bitcoin is likely to experience a deep corrective move in September, with a potential drop of over 10% from current levels, according to crypto strategist Benjamin Cowen, who also suggests that the altcoin markets may see a resurgence next year due to a confluence of macro tailwinds.
Most of the top cryptocurrencies remain stable, with minimal gains or losses over the past week, except for TON, which increased by 22%, and Bitcoin Cash, which rose by 8.6%, driven by positive developments in the TON ecosystem and the Grayscale/SEC news.
Dogecoin and Shiba Inu show low volatility despite the rebound of the cryptocurrency market, with Dogecoin potentially experiencing a significant price surge, while Everlodge gains attention with its presale momentum and plans to revolutionize the real estate industry.
Ethereum's price has been declining, leading to concerns among investors, but there are two factors to consider: a drop in user activity and transaction volume on the Ethereum blockchain, which may be due to users migrating to faster and cheaper Layer 2 blockchains, and selling by Ethereum "whales" and insiders, including co-founder Vitalik Buterin, which could be attributed to profit-taking and security measures rather than a lack of confidence in Ethereum's future prospects. Despite the market's overreaction, Ethereum remains a strong investment with its dominance in various business segments and ongoing development plans.
Bitcoin (BTC) has remained stagnant below $26,000, with investors waiting for further developments in the cryptocurrency market and the wider economy, while Ether (ETH) is expected to outperform BTC in September and October due to the potential approval of the first ether ETF in mid-October. Additionally, SOMA Finance plans to sell tokens that represent a financial interest, addressing the criticism that crypto tokens lack equity or debt claims. Binance continues to dominate the crypto market as the leading exchange.
Bitcoin and other cryptocurrencies remain stable with low volatility, indicating a decline in investor interest in the crypto market.
Bitcoin, Ethereum, and Dogecoin remained relatively stable as the global cryptocurrency market cap increased slightly, while the Financial Accounting Standards Board endorsed regulations for accounting fair values of companies' cryptocurrency holdings.
The top crypto exchanges in the world are dominating the market, with the eight largest platforms accounting for over 91% of market depth and 89% of trading volume, according to crypto insights firm Kaiko. Binance remains the leading exchange, with a market share of 64.3% in 2023, but liquidity is concentrated within a few exchanges, leading to concerns about decentralization. Altcoin liquidity has also suffered due to regulatory issues in the US, with Coinbase, Kraken, and Bitstamp holding the majority of altcoin liquidity.
September is expected to bring significant gains for several cryptocurrencies, including Dogecoin, XRP, Fantom, Shiba Inu, Gala, The Sandbox, and InQubeta, due to their innovative concepts and strong fundamentals.
FTX, a bankrupt crypto exchange, is seeking court approval to liquidate $3.4 billion in cryptocurrencies, with a maximum offload of $100 million per week, potentially impacting the market in a more gradual manner rather than causing a sharp fall in asset prices; this article examines the price movements and potential impact on Solana (SOL), Dogecoin (DOGE), and Aptos (APT).
Major cryptocurrencies experienced a decline due to concerns over the potential selling pressure from FTX's bankruptcy, as the exchange seeks regulatory approval to liquidate $3.4 billion in crypto assets.
Cryptocurrency prices experienced a sharp drop and rebound, leading to $256 million in liquidation losses over the past two days, as traders faced a wave of leveraged position closures due to market fears and sudden price swings.
Bitcoin, ethereum, and other top cryptocurrencies have been struggling recently despite the market conditions, as the bitcoin price drops and Coinbase plans to integrate bitcoin's lightning network, potentially causing crypto price chaos.
Amidst a downturn in the crypto market, both Dogecoin and Cardano have experienced significant losses, but while Dogecoin's future remains uncertain, Cardano offers potential for long-term investment due to its utility and improving metrics despite regulatory challenges.
August saw the crypto markets experience a downturn, with Bitcoin and Ether losing significant value due to liquidations on the derivatives market, while venture capital investment in the blockchain industry hit a new low and derivatives drove negative sentiment for Bitcoin.
The crypto industry experienced significant capital outflows of $55 billion in August, leading to a liquidity crunch that allows isolated events to have a greater impact on prices and market movements, according to an analysis from Bitfinex.
Bitcoin's rise may lead to leverage liquidations and price rallies for shorted alternative cryptocurrencies like Solana, while upbeat Chinese data signals continued gains for leading cryptocurrencies like Bitcoin Cash, Maker DAO's MKR, XRP, Ether, SOL, Tron's TRX, and Dogecoin. Binance.US faces accusations of non-cooperation in a probe by the Securities and Exchange Commission, and Deutsche Bank is partnering with Taurus for cryptocurrency custody and tokenization services.
Bitcoin's market dominance rate has reached its strongest level in a month, rising to 50.2%, as risks rise for the rest of the cryptocurrency sector, while alternative cryptocurrencies may be on the brink of breaking lower.
Ark Invest's recent report highlights the recovery of Bitcoin's realized capitalization, the decline in liquidity and trading volumes, the recent increase in volatility, and the optimistic long-term outlook for the cryptocurrency.
Dogecoin's volatility has decreased to the point where it is now more stable than Bitcoin, indicating a lack of investor interest in alternative cryptocurrencies and a drain of liquidity toward Bitcoin.
