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.
Bitcoin and altcoins are currently in a ranging market, with uncertainty about the next directional move, making it advisable to wait for a breakout before placing large bets.
Bitcoin has made a significant move upwards, approaching $27,000 after days of stagnation, although other cryptocurrencies such as SOL, ADA, TON, and MKR have outperformed it.
XRP's price is showing a small increase, but it remains bearish on both the hourly and daily charts, with a potential decline to the $0.51 and $0.50 range in the near future. The altcoin is currently consolidating within the $0.50-$0.54 range.
Key social metrics suggest that cryptocurrency markets may soon rebound, as the use of the term "bear market" has reached an 11-week high on social media platforms, which historically indicates that price rises are likely; additionally, deep-pocketed investors are accumulating Bitcoin again, contributing to a recent rally.
Bitcoin is predicted to reach a price of $148,000 after the next halving in April 2024, according to Pantera Capital, which manages $3.5 billion worth of assets, and notes that recent events such as the XRP ruling and endorsements by BlackRock are likely to contribute to the next bull market for digital assets.
Following Bitcoin's recent price fluctuations and failure to meet short-term bullish expectations, the altcoin market is expected to have a substantial recovery rally in the coming week, with Ethereum, Litecoin, and Shiba Inu potentially leading the way.
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.
A web3 decentralized social network altcoin, CyberConnect (CYBER), reached a new all-time high of $15.36, experiencing a significant increase of 308.9% in just one week, possibly influenced by Binance's new trading services and promotional campaign.
The price of the CYBER token, which is used for the CyberConnect social media network, has increased by 250% in the past week due to significant interest from traders, despite the overall bearish sentiment in the crypto market. The network has experienced a surge in trading volume and market capitalization, reaching $144 million and $898 million, respectively, and has seen trading volumes of up to $10.8 billion in the past 24 hours. However, there are concerns about whether this surge in value can be sustained, as other similar platforms have previously experienced a decline in popularity shortly after their launch.
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.
Altcoins could potentially rally ahead of the Bitcoin halving, according to cryptocurrency analyst Michaël van de Poppe, who believes that the Bitcoin dominance chart suggests a surge in altcoin value rather than a downward market. Van de Poppe is also bullish on Ethereum against Bitcoin, predicting a rise in ETH/BTC to 0.06992 BTC.
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 (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.
Despite the recent downturn in the crypto market, a key Bitcoin metric shows that 95% of the existing supply of Bitcoin has not moved in the past 30 days, indicating strong holding behavior and potential for a price rally with a buy-side catalyst.
Bitcoin could potentially surge over 70% in a move similar to 2015, as crypto analyst Michaël van de Poppe observes patterns that indicate a sustained trading range before a significant upside move ahead of the 2016 halving event.
Bitcoin is showing strength and could reach $28,000 despite negative news, according to Altcoin Sherpa, a popular crypto trader, while cautioning about the downward trend of Ethereum rival Solana.
The recent Bitcoin rally is expected to lead to a much larger upswing, potentially reaching $5,000 to $10,000 within a couple of weeks, according to a crypto strategist.
Bitcoin (BTC) is showing signs of a relief rally as it aims to end the week in positive territory, with the potential for further upward movement if it maintains above $26,500; meanwhile, select altcoins like Maker (MKR), Aave (AAVE), THORChain (RUNE), and Render (RNDR) are also experiencing positive developments.
Bitcoin has the potential to rally and reach a new high in 2023, according to an analyst, who also states that the current price action looks constructive after a period of downward trend.
Bitcoin, ethereum, BNB, and XRP have experienced a strong price rally in 2023, but a small cryptocurrency has surpassed them, while the Federal Reserve's interest rate decisions could impact the bitcoin price.
The trading volume of XRP, a cryptocurrency, has surged since the start of 2023, surpassing other altcoins, following a court decision declaring it not an unregistered security, resulting in its relisting on major US exchanges; however, XRP's price has decreased from its peak in mid-July.
