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.
Bitcoin remains on track for a massive bull cycle despite recent price decline, as indicated by broader indicators of its price patterns and the use of logarithmic growth curves. The 200-week moving average is seen as less significant as a key price support level for Bitcoin, and the analyst is also looking for an entry point for Ethereum.
Altcoin Pepe has seen a significant drop against Bitcoin, leading crypto strategist Credible Crypto to warn of potential similar price declines for other altcoins, while also predicting a rise in Bitcoin's dominance in the market.
Crypto analyst Ben Armstrong recommends XRP, Chainlink, and Dogecoin as the top three altcoins to accumulate during a market downturn, citing their strong potential and future prospects.
Crypto analyst Ali Martinez warns that Chainlink (LINK) could experience a significant correction of up to 50% as whale transactions decline, indicating a lack of trading interest, while Bitcoin (BTC) may drop 10% if it loses key support and Ethereum (ETH) layer-2 blockchain Optimism (OP) is showing bearish signals with a potential drop of over 47%.
A blue-chip altcoin, Chainlink (LINK), may experience a bullish rally based on various analytics, while whales and sharks have accumulated $71 million worth of Maker (MKR) tokens, and Bitcoin Cash (BCH) has seen a price rebound, according to Santiment.
Crypto analyst Nicholas Merten warns that the altcoin market could lose $60 billion, with Ethereum failing to break above $2,000, indicating a bearish pattern, and he plans to short Bitcoin as well.
Some altcoins like OKB, Ocean Protocol (OCEAN), Bitcoin Cash (BCH), and Toncoin (TON) show potential for bullish trends in September, with OKB potentially hitting a new all-time high at $72.10. However, a breakdown in the support areas could result in bearish trends for these cryptocurrencies.
Crypto analyst Altcoin Sherpa believes that altcoin CyberConnect (CYBER) is not done rallying, despite a recent correction, and predicts it may eventually reach $17, representing a potential upside of over 132% from current prices.
Despite the current market conditions, a crypto strategist believes that Bitcoin (BTC) could experience a significant upward movement, potentially forming a bullish higher-low setup after a possible drop to around $23,600.
Chainlink (LINK) is expected to break through long-term resistance and potentially increase by 50% to $9 or even 115% to $13, while Ocean Protocol (OCEAN) could double its price if it breaks out of its descending resistance line and channel, reaching $1, but DASH is likely to fall by 60% to $10 if its bearish trend continues.
Chainlink (LINK) may be on the verge of a bullish breakout against Bitcoin (BTC), according to crypto analyst Michaƫl van de Poppe, who believes that the recent launch of the Cross-Chain Interoperability Protocol (CCIP) could significantly boost Chainlink's value.
Bitcoin (BTC) could reach $35,000 by the end of 2023, according to veteran analyst Filbfilb, who also predicts a potential price dip to the low $20,000 range before a reversal in Q4 and a price target of $46,000 by the 2024 halving. He believes that altcoins like XRP and Dogecoin (DOGE) could perform well in the next cycle.
Chainlink (LINK) is expected to continue trading within a range for several months before breaking out, according to popular crypto trader Altcoin Sherpa, who recommends buying and holding the coin for six months before selling it at a higher price; the trader also discusses the potential of other cryptocurrencies, including Avalanche (AVAX), Fantom (FTM), and Rollbit's native token RLB.
Chainlink (LINK) is expected to break out of its trading range and experience significant price growth, according to a popular crypto trader, while Bitcoin (BTC) is predicted to cross the 200-day SMA and rally to $28,000 by September 18th. However, the trader suggests Polygon (MATIC) may see a 42% decline and the native token of the Bored Ape Yacht Club community, ApeCoin (APE), is expected to collapse.
Bitcoin (BTC) and Ethereum (ETH) experienced stable prices over the week, while Bitcoin Cash (BCH) and Toncoin (TON) saw notable price increases, and Stellar (XLM) suffered a decrease; Sony is developing a blockchain network in collaboration with Startale Labs, PayPal launched crypto to USD off-ramps, and Deutsche Bank partnered with Taurus for custody and tokenization services.
Chainlink's LINK tokens have seen significant movements in the market, particularly with transfers from notable Chainlink wallets injecting a substantial number of tokens into various platforms, raising concerns about the asset's stability and future price trajectory.
Crypto strategist Michaƫl van de Poppe believes that XRP, Chainlink (LINK), and the controversial altcoin Worldcoin (WLD) may present trading opportunities, with XRP potentially rallying above $0.70, LINK potentially reaching $8.59, and WLD offering short-lived rallies.
Altcoin Sherpa warns against investing in Binance Coin (BNB) in the short term, remains bullish on Bitcoin (BTC), and expects a potential altcoin run once Ethereum (ETH) drops further against Bitcoin.
Chainlink's LINK token outperformed the top 20 cryptocurrencies in the past week with a 14% gain, supported by increased network activity and adoption of its Cross-Chain Interoperability Protocol (CCIP), while other major cryptocurrencies performed poorly.
Chainlink (LINK) and three other altcoins are expected to see more price surges based on bullish on-chain data, with Chainlink experiencing increased unique address activity and potential rallies if market participants remain indifferent to its performance. Additionally, Loom Network (LOOM), Frontier (FRONT), and ImmutableX (IMX) are outperforming the broader crypto markets with increased adoption. Bitcoin, on the other hand, has seen a rise in the number of addresses holding less than 100 BTC, while whales have been selling since June.
Several altcoins, including Cardano (ADA), XRP, and Binance Coin (BNB), may experience significant market corrections due to declining liquidity, warns crypto analyst Nicholas Merten. He predicts that BNB could decline by over 38%, XRP could collapse by 70%, and Cardano could drop by more than 37%.
Crypto analytics firm Santiment reports that the prices of eight altcoins are poised to rise, as the supplies of their native tokens on exchanges decrease and transactions by whales increase, while Bitcoin's social dominance has fallen to a three-month low.
Chainlink (LINK) may be on the verge of reversing its multi-year downtrend and sustaining bullish momentum, as it moves above a key long-term indicator, according to crypto strategist Kevin Svenson. However, Svenson also suggests that LINK may need more time before entering bull territory and breaking out above its macro resistance.
Crypto analyst Rekt Capital predicts that Bitcoin will form a lower high in the coming weeks, potentially leading to a higher low later in the cycle, while also noting that Chainlink has broken its downtrend.
Bitcoin is currently facing rejection at its current price point, while Chainlink is positioned well to close the week above its downtrend trendline, potentially leading to upward movement for the cryptocurrency.
Bitcoin's price has fallen in the third quarter of 2023, but a positive monthly close in September suggests a potential recovery, and altcoins are also showing signs of strength, with Bitcoin's relief rally potentially reaching $28,000.
Crypto strategist Altcoin Sherpa predicts that layer-2 protocol Arbitrum (ARB) could see a 23% increase in price before its rally slows down, while decentralized derivatives exchange Injective (INJ) may dip to $7.50 before surging towards its target at $9.40. Additionally, Altcoin Sherpa believes that Bitcoin (BTC) will test its psychological resistance at $30,000 but is unsure of its larger trend.
Ethereum-based altcoin Chainlink (LINK) is predicted to experience a final correction before doubling in price, potentially reaching $12-$15 by 2024, according to crypto strategist Michaƫl van de Poppe, who expects other altcoins to continue gaining momentum as long as Bitcoin remains consolidated. Bitcoin, on the other hand, could rally to $30,000 if it successfully retests the $26,700-$26,900 range.
Bitcoin is poised to reach new highs, according to crypto analyst Michaƫl van de Poppe, while Chainlink may undergo one final correction before a breakout that could extend into 2024.
Crypto strategist Altcoin Sherpa predicts that a surge in altcoin trading could occur in the coming months, particularly in December and January, with Ethereum expected to lead the way after a 5% decline against Bitcoin.
Chainlink (LINK) is predicted to have a bullish breakout, potentially doubling in price to around $14, according to an analyst who accurately predicted the crypto bottom in November 2022. However, the analyst notes that the price action of Bitcoin (BTC) will also play a significant role in Chainlink's future performance.
Inflation of Chainlink (LINK) tokens could pose a challenge for the cryptocurrency to reach new highs in the next bull run, as the increased number of tokens in circulation requires a significant increase in buying pressure to match previous price levels, according to a crypto analyst.
Bitcoin's price may experience a significant drop to $19,000 before entering a full bull market next year, according to a trader who accurately predicted the cryptocurrency's 2018 bear market bottom; the trader also suggests that the smart contract platform Avalanche's altcoin bounce is over after failing to break resistance at $11.
Despite multiple unsuccessful attempts to break out from a long-term descending resistance trendline, Chainlink (LINK) is currently in a bullish trend as indicated by the increasing RSI and accumulation by long-term holders and institutional wallets. However, if the price falls below the $6.95 support level, a bearish trend may continue with a potential drop to $6.35.
Chainlink (LINK) has outperformed Bitcoin (BTC), Ethereum (ETH), and other altcoins since September, becoming the leading decentralized blockchain oracle solution; however, concerns arise as the price faces a 10% correction and breaking the $7.20 support level may erase previous gains. The recent surge in LINK's value can be attributed to successful tests by SWIFT and the Australia and New Zealand Banking Group (ANZ), but changes to Chainlink's multisig and a decline in protocol fees have reduced investor interest.
Bitcoin strategist Altcoin Sherpa predicts that Bitcoin (BTC) will eventually reach its all-time high of around $69,000, while also suggesting that Chainlink (LINK) will break out of its accumulation range and that Avalanche (AVAX) will see a 14% increase in the midterm.
Most altcoins are currently experiencing severe declines and may never reach their all-time highs again, according to crypto analyst Benjamin Cowen, who also warns that if Bitcoin were to decline, it would have a significant negative impact on altcoins as well.
Crypto trader Altcoin Sherpa predicts that the crypto gambling platform Rollbit (RLB) will perform well in the short term, and believes that Bitcoin (BTC) could either rise to $40,000 or drop to the low $20,000 range in the coming weeks.
Chainlink's LINK token reached a 17-month high, but investors are starting to take profits amidst signs of a potential market breather, with exchange deposits increasing and a large trader depositing and withdrawing millions of dollars worth of LINK tokens.
The decentralized oracle service Chainlink (LINK) is predicted to experience a significant upward price movement according to crypto analyst Altcoin Sherpa, who suggests that it is one of the best projects in the industry; however, it is still uncertain if an "altseason" is imminent, with attention being placed on Ethereum versus Bitcoin and Bitcoin dominance.
Solana (SOL) and Chainlink (LINK) are predicted to be top performers in the next bull cycle based on recent rallies, while a bullish ETH/BTC chart suggests that Ethereum will likely outperform Bitcoin.
Chainlink (LINK) price reaches a 16-month peak at $11.50 as on-chain data reveals growing network usage and increased demand for the token, fueled by both organic network improvement and increased trading activity from whale investors.
