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.
Both meme coins Pepe (PEPE) and Shiba Inu (SHIB) have experienced significant losses of over 20% in the past week, with PEPE dropping 22% and SHIB falling 21.6%, possibly due to the troubled launch of the Shiba network's layer-2 blockchain, Shibarium. Additionally, Bitcoin and Ethereum have also seen declines after news of Evergrande's bankruptcy filing.
The recent crash in the crypto market has heavily impacted memecoins, raising concerns about a broader bear market, but it remains uncertain if this trend reflects a market reversion or just the typical underperformance of memecoins.
The popular meme coin Shiba Inu (SHIB) is experiencing a resurgence in price, potentially signaling a second round of significant movement, while the outcome of the upcoming SEC appeal against Ripple could greatly impact the price trajectory of XRP, and Ethereum is showing signs of potential recovery with a bounce in price from its recent decline.
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.
The price of the memecoin Pepe has dropped by 15% after developers sent a significant amount of tokens to exchanges, sparking concerns of a "rug pull" and leading to a change in the team's multisig wallet.
Crypto analyst Michaël van de Poppe believes that Ethereum's current price dip could be due to Bitcoin's upcoming halving, and suggests that BTC may follow the path of commodities, while naming certain altcoins, including ARB, OP, INJ, SUI, PEPE, and DOGE, that he's keeping an eye on.
Pepe (PEPE), a popular meme coin, is facing allegations of suspicious movements in contract addresses and a potential rug pull, causing panic among community members and a significant decline in price.
PepeCoin (PEPE) experienced a significant drop in value after millions of dollars worth of the token were transferred from the team's wallet to exchanges, raising concerns and triggering panic selling among investors.
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.
The cryptocurrency market remained relatively stable this week, with Bitcoin and Ethereum holding their value, but meme coin PEPE experienced a significant drop in price, and the PepeCoin team's transfer of a large amount of PEPE to exchanges caused panic selling. Additionally, notable news included Kenya's inquiry into OpenAI CEO Sam Altman's Worldcoin project, the arrest of Tornado Cash founder Roman Storm for money laundering-related crimes, and the approval of land and resource tokenization in the Central African Republic.
Crypto's biggest memecoin, PEPE, experienced a major setback when 16 trillion tokens worth $16 million were sold by rogue team members, causing a 26% drop in market capitalization, but the remaining founder vows to continue and decentralize the project.
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.
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.
Former Goldman Sachs executive Raoul Pal believes that Bitcoin may be on the verge of a massive rally, based on the historical volatility of the cryptocurrency dropping below 20, a level that has preceded significant price increases in the past. Pal also notes that Bitcoin's Bollinger Bands, a volatility indicator, are the tightest they have ever been, further indicating the potential for a strong upward movement. Ethereum is also highlighted as trading within a bullish pattern despite recent market corrections.
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.
The decline in the price of Pepe coin is due to a scandal involving the founders, leading investors to consider alternative meme coins like Pikamoon, which is recommended by experts for its potential for portfolio recovery.
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.
A crypto analyst warns that Pepe could decline by more than 50%, Bitcoin Cash (BCH) is likely to keep declining, and Bitcoin will experience volatility before a bull cycle in 2024-2025.
A crypto analyst has shared a "cheatsheet" for predicting Bitcoin price movements ahead of the next halving, suggesting that BTC's current prices are within the expected pre-halving range and that a post-halving rally is likely.
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.
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.
PEPE Coin has outperformed other meme coins, such as Dogecoin and Shiba Inu, in terms of price gains, with a 4% increase in the last 24 hours and a 17% surge in the last seven days, although the exact reason for its sudden surge is unclear.
The recent rallies in Bitcoin and altcoins could reverse abruptly, according to trader DonAlt, who believes that the market is rallying based on anticipation of Ethereum-based ETFs but warns that these catalysts may not be strong enough to sustain the rallies, especially considering the historical bearishness of crypto futures products.
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.
Crypto strategist Altcoin Sherpa warns that Worldcoin (WLD) is likely to decline by at least 34% and could ultimately drop to less than $1, while also keeping a close eye on Solana (SOL).
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.
Pepe Coin continues to experience a decline in price and loss of investor trust due to issues such as money laundering accusations and wallet theft, while Meme Kombat, a new meme coin with real utility and transparency, emerges as a promising alternative with its successful presale and attractive staking APY.
Bitcoin and crypto markets are following a cyclical pattern, with bull markets typically occurring after halving events, but a significant pullback is anticipated in the period leading up to the next halving event in April or May 2023, potentially causing a drop in BTC prices.
Summary: Bitcoin and other cryptocurrencies are on the rise, fueled by a recent rally, although some traders may be preparing for a potential pullback due to uncertain optimism surrounding a recent catalyst.
