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Kri
Kri
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The cryptocurrency market is experiencing bearish sentiments in the short term, primarily driven by Bitcoin (BTC), which is presently struggling to sustain its valuation above the $41,000 mark. Despite this, there is a consensus that a potential rally may occur.  As a result, various cryptocurrencies are viewed as investment prospects, driven by the positive sentiment surrounding them. Against this backdrop, here are three cryptocurrencies priced below $1 that merit consideration for investment in the coming week. Polygon (MATIC) Polygon (MATIC) remains an attractive cryptocurrency investment option, aiming to address Ethereum (ETH) challenges, particularly high fees. As a layer two blockchain built on Ethereum, Polygon’s primary objective is to assist blockchains in overcoming issues like high transaction fees and sluggish processing times. The ongoing partnerships complement the prospects of Polygon. For instance, over the past year, major companies like Starbucks (NASDAQ: SBUX) have utilized Polygon’s blockchain. The blockchain platform continues to attract interest, recently partnering with Fox Corporation to authenticate news content accuracy.  Despite these positive developments, the price of MATIC has mirrored the general trend in the cryptocurrency market, experiencing a decline. MATIC is grappling to maintain levels above a crucial support zone of $0.70.  A potential upswing in the overall cryptocurrency market will likely assist MATIC in reclaiming the $0.80 resistance zone. By press time, MATIC was trading at $0.78, reflecting weekly losses of approximately 11%. XRP  XRP remains a focal point for investors, particularly amidst ongoing developments in the Ripple and Securities Exchange Commission (SEC) case. In a recent update, Ripple has taken a stance against the SEC’s motion, pushing back on the request for the blockchain company’s financial statements and information related to institutional sales.  Despite the prolonged legal proceedings, XRP boasts other fundamentals that position it as a compelling investment opportunity. The company continues to leverage Ripple’s underlying technology, which facilitates cross-border transactions, as a key driver for potential price rallies.  At the same time, recent market trends revealed a significant influx of $2.2 million into XRP-related products as of January 16, a substantial increase from the previous week’s $900,000. This surge aligns with speculations that XRP may secure the next exchange-traded fund (ETF) after Bitcoin (BTC), introducing an additional layer of potential growth. While short-term indicators suggest bearish sentiments for XRP, analysts remain optimistic about future rallies. In a post on X (formerly Twitter), crypto analyst Crypto Rover highlighted technical analyses pointing to a significant rally for XRP in the next eight weeks. As of the latest update, XRP is trading at $0.55, reflecting a nearly 5% drop in the past seven days. Cardano (ADA) Amid a recent bearish trend that has impacted the cryptocurrency market, Cardano (ADA), currently holding the eighth position by market cap, is emerging as a potential investment opportunity for the upcoming week.  Despite experiencing a period of consolidation, various factors, including network developments and technical analysis, suggest that ADA could witness a significant upswing in the near future. For instance, cryptocurrency analysts like Ali Martinez have drawn attention to the parallels between Cardano’s current consolidation phase and its behavior in late 2020. Martinez suggested that ADA could resume its upward trend around April if history repeats itself. This pattern continuation might lead to a noteworthy upswing, with potential price targets reaching $0.80, a brief correction to $0.60, and potentially surging to $7. Cardano’s resilience during the recent market selloff is also attributed to several major developments that could reignite demand for ADA. The upcoming Chang hard fork, designed to enable community governance, is significant.  Founder Charles Hoskinson has also set an optimistic tone for Cardano, referring to 2024 as the “Mithril Age,” anticipating a smooth-running network where node bootstrapping takes under 20 minutes.  This forward-looking vision, coupled with a 250% surge in development activity on Cardano at the beginning of the year, reflects the dedication of developers to the project. By press time, Cardano was trading at $0.51 with daily gains of almost 3%, while on the weekly chart, ADA was down over 7%. Typically, the highlighted cryptocurrencies, despite possessing significant fundamentals, heavily depend on the overall market’s prospects.

about 1 month ago
FXstreet
FXstreet
Week Ahead: AI and Nvidia are this week’s focus
3 months ago
Crypto
ETH
Alchemist(MIST)

$0.94

0.04%

Market Cap
N/A
 

Volume (24h)
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Released on 06 Apr 2021
Johnmiracle Web3
Johnmiracle Web3
followers

Okay, so the next Bitcoin halving is expected to occur sometime on or around April 25, 2024. Now typically either leading up to or following a #bitcoin halving we see a lot of price volatility, but we also see appreciation and a lot more interest, not only do we see more new users come into the space, those of us who have been in the space seem to be more excited and more active and many of those who have been into crypto for years but have kind of been sitting on the sidelines tend to get interested again as well. The volatility as well as increases in price have happenned for the 2012, 2016 and 2020 halvings, and I think a lot of us are looking forward to this upcoming halving, hoping to maybe return to or even surpass all time highs. Here's something that just occured to me however, what if we're in a recession during this time? I think a lot of people would argue we're already in a recession and whether you think we are "technically" or "officially" in a recession I think most people agree the economy is not in a good place. We also know politically speaking politicians don't want a recession to happen during an election cycle, especially the sitting party, we even saw during midterms jockying to prop up gas prices ahead of the most recent midterms. I say all of this to say if at all possible they'll try to postpone or at least hide the fact were in a recession until the 2024 election so there's a possibility we won't see a recession until later in 2024. That said most economists, banks, CEOs and Youtube Doomer Channels seem to say a recession is coming in 2024 and it probably won't wait for the elections. Earlier this year Jamie Dimon of JP Morgan, and most other major banks predicted Americans would begin running out of money due to inflation mid to late summer. Never underestimate how far down the road banks and governments can kick the can, but if were to believe Americans will be tapped out around now, it's pretty safe to say the economy will be in the shitter come April 2024, especially considering most companies are beginning to report bad earnings and it seems the real estate market is finally slowing down. Inflation continues to eat away at peoples pocketbooks and savings, people are getting deeper into credit card debt, evictions, foreclosures and auto repoes are slowsly starting to pickup and interest rates are finally hitting a point its beginning to affect peoples behavior and the're only expected to either go higher or at the very least remain at this level into 2024 if not longer, that's according to recent fed statements. Basically what I'm getting at is I think a recession, personally I believe we're already in one but once the government, banks an media acknowledge it its really the nail in the coffin, I feel like that's really going to put a damper on the halving appreciation we normally see. Your thoughts? #crypto2023 #crypto

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6 months ago

Yay! You have seen it all