Altcoins

Best Altcoins to Buy Now and Grow Your Crypto Portfolio

Published

8 months ago

14 June, 2024

5 Trending Altcoins That Are Worth the Hype

The Federal Reserve’s hawkish stance on the first interest rate cut cost bulls a potential rally above $70,000. Remarks by Fed Chairman Jerome Powell after Wednesday’s FOMC meeting praised the progress made in bringing inflation back to a 2% target. The Fed left interest rates unchanged in a range of 5.25% and 5.55%, while revising possible rate cuts to just one in 2024. As cryptocurrency prices correct, altcoins to buy like ETH, ADA and PEPE offer key entry positions.

In a recent announcement, the United States indicated that unadjusted figures for May Consumer Price Index (CPI) the annual rate stood at 3.3%. This figure is slightly lower than the expected 3.4% and marks a drop from the previous value, which was also 3.4%.

The United States announced that the unadjusted annual rate of the CPI in May was 3.3%, while it was expected to be 3.4% and the previous value was 3.4 %. The unadjusted annual rate of core CPI in May was 3.4%, compared with expectations of 3.5% and the previous value of 3.6%. The basic annual rate of the CPI was…

-Wu Blockchain (@WuBlockchain) June 12, 2024

Similarly, the unadjusted annual rate of core CPI for May was recorded at 3.4%, below the expected 3.5% and down from the previous rate of 3.6%. Notably, this annual core CPI rate represents the lowest level since April 2021.

Lower inflation figures could ease fears of an aggressive interest rate hike by the Federal Reserve and entice investors to invest in breached assets like Bitcoin and other cryptocurrencies.

Best Altcoins to Buy – Ethereum

Ethereum, the second largest cryptocurrency by market capitalization saw a notable decline during the second week of June. From the high of $3,878, the altcoin fell to $3,433 on Tuesday, registering a loss of 11.5%.

Ethereum| Commercial view

However, positive market sentiment around the US data lifted the asset to $3,624, while the market capitalization jumped to $436.4 billion.

An analysis of the daily chart shows the ETH the price entered into sideways action, as evidenced by the formation of a new lower high. Amid Consolidation, Crypto Investor Awaits SEC Response to S-1 Filings Ethereum ETF issuers that could trigger a notable movement in ETH prices.

If the response is positive, buyers could break the overhead resistance trend, signaling the continuation of the current uptrend. The post-breakout rally will have Ethereum buyers questioning $4,950 per hour.

However, if the broader market correction persists, ETH price could support the long-term support trendline at $32,501.

2) Cardano (ADA)

Cardano is a third-generation blockchain platform known for its research-driven approach and focus on sustainability and scalability. Over the past two months, the ADA the price is trading sideways, resonating between the descending trendline and the $0.418 support.

Cardano (ADA)| Commercial view

The coin strictly following the aforementioned level indicates the formation of a descending triangle. In theory, the chart pattern leads to a short consolidation to recover exhausted bearish momentum and resume a downtrend.

Today the Cardano Price rebounded from the $0.418 support with 4.5% to trade at $0.414, while the market cap surged to $15.75.

If ADA price falls below the neckline support, sellers could lead to a correction to $0.34.

However, buyers could invalidate the bearish thesis if they cross the downtrend line. The post-breakout rally could push the asset to $0.52, followed by $0.62.

3) Pepe Coin (PEPE)

Pepe’s piece (PEPE) is a meme-based cryptocurrency inspired by the popular internet character, Pepe the Frog. Amid sudden change in market dynamics, this asset class typically exhibits dynamic movement due to its volatile nature.

Pepe Coin (PEPE)| Commercial view

THE PEPE Price the correction stabilizing above the $0.0000114 support indicates that buyers are accumulating this asset during market dips. At press time, the frog-themed memecoin is trading at $0.0000136, recording a 20% jump over the past two days.

This recent rise, supported by 15% in trading volume to reach $1.38 billion, increases trader interest upwards. Recovery from correction could topple the $0.00001725 mark and pursue the potential target of $0.00002, followed by $0.000024.

Key to remember

Today, the crypto market saw a notable rise following the release of US CPI data. Bitcoin price is poised to reclaim $70,000, while Ethereum holds above $3.5k. However, looking over a longer time frame shows that major digital assets have not emerged from consolidation and key overhead resistance is still intact. It is therefore crucial to continue the current recovery to accelerate the recovery.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.