Cryptocurrency

Will Bitcoin Surge to New High Before Halving? – Crypto News

Published

2 years ago

March 30, 2024

Dripp

Crypto Price Prediction: The most awaited crypto event, the Bitcoin halving, is scheduled for April, marking four years since the last occurrence. While the market anticipation sparked a fresh bullish trend since the onset of the year 2024, the United States green-lighting Bitcoin ETFs accelerated the momentum to new heights. Thus, the BTC price reached a time high of $73800 earlier this month, uplifting a majority of major altcoins.

Though the current week reflects an uncertain market sentiment, the broader trend remains strongly bullish indicating the potential of prolonged market recovery.

Also Read: 5 Under $1 Top Meme Coins To Buy To Turn $10 Into $1000 Pre-Halving

1)Bitcoin (BTC)

BINANCE:BTCUSD Chart — Bitcoin (BTC)| Tradingview

Bitcoin is the pioneering concept of a decentralized digital currency, operating on a peer-to-peer network without the need for a central authority. By the press time, the BTC price traded at $70274, with an intraday gain of 0.3%.

The current market cap of this asset stands at $1.38 Trillion and recorded $22.2 Billion in trading volume since yesterday.

This week saw Bitcoin experiencing significant volatility, oscillating within a tight range between $71,500 and $68,500. With the renewed buying spot BTC ETF continuing to fuel bullish momentum, the buyers may breach the overhead trend to surpass the current high of $73800.

On a contrary note, a breakdown below the $68500 support, will plunge the Bitcoin price by 3% to hit the long coming support trendline.

Also Read: Crypto ATMs : How Do They Operate , A Step By Step Guide

2) Pepe Coin (PEPE)

BINANCE:PEPEUSDT Chart — Pepe Coin (PEPE)| Tradingview

Pepe Coin (PEPE) is a digital currency that leverages the meme culture surrounding the Pepe the Frog character, blending humor with cryptocurrency innovation. On March 19th, the PEPE price bottomed its last correction at $0.00000582, indicating a healthy retracement of 50% for buyers to recuperate their strength.

The positive turnaround uplifted the memecoin asset by 48% within two weeks to currently trade at $0.0000086. Pepe Coin holds the 40th rank among the largest cryptocurrencies, boasting a market capitalization of $3.65 billion.

The bullish candle recorded a 12.6% jump, the PEPE price teased an upside breakout from the weekly resistance of $0.00000864. A successful breakout will accelerate the buying pressure and push the coin price by 25% to hit $0.0000108.

Also Read: Pepe Coin Price Analysis: Can Current Market Correction Offer New Buying Opportunities?

3)Pendle

BINANCE:PENDLEUSDT — Pendle| Tradingview

Pendle is a DeFi platform that specializes in the tokenization of future yield, allowing users to own and trade future yield streams before they are realized. The project provides investors with a novel tool for hedging against interest rate fluctuations and optimizing their yield strategies.

According to data from the crypto analytics firm Santiment, Real World Assets (RWAs) have seen a substantial increase in market cap, signaling a trend towards the tokenization of physical assets on the blockchain.

Defying the current market correction, the Pendle price has shown a high momentum rally from $2.3 to $4.73, registering 103% growth within a fortnight. The asset currently in a price discovery mode can witness resistance at a $5 psychological level.

However, a potential pullback may seek support at $4.3, and $3.7.

Takeaway

This week the cryptocurrency market witnessed high volatility following the wavering price behavior of Bitcoin around the $70000 mark. The formation of neutral candles with long rejections has spread uncertainty in the majority of major altcoins. With the continuous inflow into Spot BTC and upcoming halving, the market participants anticipated a major bull run in the near future.