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Crypto Price Prediction Trends for May
After a significant increase in total crypto market, expectations are also rising to see much better performance from cryptocurrencies. Although the market recovery is not very large, the global market capitalization has risen to 2.35 billion dollars, and the market sentiments also improved from a low of 49 to 56, but still remain neutral. Amid this confusion about what’s coming in the cryptocurrency market, check out the most popular cryptocurrency price predictions covered in this blog.
Most Popular Crypto Price Prediction for May
After a slow month, the crypto market lost all the progress of the previous months. A recovery could happen in May based on the last three Bitcoin halved references.
May has been historically good by some cryptocurrenciesBut other than that, these three other crypto price predictions are getting the most attention.
Bitcoin price will rise to $80,000
After a decline below $60,000, Bitcoin has seen a recovery in recent days where, at the time of writing, it is currently trading at $63,405.79. Analysts believe this trend will continue for a few days, causing rising price movement for BTC. A target of $77,000 could be seen this month, and if bearish factors were less dominant, Bitcoin outbreak over $80,000. However, in contrast, Bitcoin price could fall to a low of $54K if the downtrend enters the market.
Bitcoin faced problems in April for violating the Fibonacci pivot for $68,200. A similar trend could lead Bitcoin to the same opportunity. Once Bitcoin surpasses the R1 level of around $73K, it will hit the next $77K mark at the R2 level. Eventually, this will push the value to the R3 level of $82K.
Meme Coins will meet in May
In the last 24 hours, the meme coins market capitalization increased by 11%, while volume of business rose 40%, implying the best recovery in the market. Based on many similar reviews and meme trends taking control of the crypto market, crypto price predictions speak of meme coin dominance in May.
Since 2024, many high-potential meme coins have been released onto the market, offering huge gains to investors. The list includes Dogwifhat, Popcat, Real Smurf Cat, ERC20 and others. As a result, a meme executed or meme season may take over the crypto industry in May where meme coins will become the most profitable cryptocurrencies.
Extending holding periods on Ethereum ETF
The last important crypto price prediction is the upcoming trading event Ethereum Spot ETF decisions by US regulators. Despite the proximity of Ethereum ETF result day, the SEC has not yet given any clues. The Ethereum ETF has become one of the most expected events in the eyes of investors after the Spot Bitcoin ETFs success. However, with the ongoing controversy over Ethereum’s status as a commodity and security, the SEC has ignored any discussion on this topic.
With each passing day, the probability of witnessing the chances of approval seems to decrease. At the beginning of Ethereum Spot ETF applications, people believed it was a done deal, but now the chances of approval have been capped at 35%.
As the result will be released by the end of the month, analysts predict further delays in this case. It’s because the SEC It has been quiet for a long time, and such a harsh atmosphere in the Ethereum ETF decision indicates a delay, not just a rejection.
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