Bitcoin is currently hovering around 63,000. After the oscillation in the range from 73,000 to 60,000 ends, the overall trend is expected to resume rising. There are currently two oscillation situations:
1. The bottom is formed and it rises directly
2. Continue to fall and then rise
Bitcoin's rebound has not formed an upward driving structure, the possibility of bottoming out has decreased, and the possibility of a sharp drop has increased.
I think the current market is forming an M-shaped bottom. You can continue to pay attention to the 6w1 support line. The general trend is still bearish, and the bullish rebound is very weak. The four-hour acceleration line has not been broken, and the one-hour trend line has risen for two waves. Pay attention to the support. If it cannot be effectively broken, it will be the spring of bulls.
4 Cryptocurrencies That Could Increase 100 Times in the Future
1. SHIB
Shiba Inu Coin (SHIB) is a meme coin rooted in internet culture that has seen significant growth in the decentralized finance sector. The Ethereum-based cryptocurrency has experienced a slight uptick recently, gaining more than 7% in the past day. Right now, the Shiba Inu Coin price is currently at $0.00002176 USD, indicating an upward trend.
Over the past year, SHIB has surged 109% in value despite some recent market volatility. This impressive rise highlights its potential as a lucrative investment, especially as the upcoming halving event is expected to further boost its value.
SHIB is currently ranked#12on CoinMarketCap with a market cap of $130,000. The token’s recent surge could be due to increased trading activity, a massive increase in the number of SHIB tokens being destroyed, and strong interest in similar meme tokens like DOGE, Floki, and BONK.
2. LOVE
Celestia is a modular blockchain network that redefines the process of blockchain deployment with unparalleled simplicity and efficiency. It pioneers a minimalist approach that separates execution from consensus. This is achieved through the innovative introduction of data availability sampling.
This groundbreaking architecture frees developers from traditional constraints, allowing them to create a customized execution and settlement environment based on their needs. Celestia enables developers to easily deploy specific applications or general-purpose blockchains, creating an environment conducive to experimentation and innovation. Sovereignty over application rules is easily achieved within this framework.
TIA shows continued growth potential with the current price of $10.26, a massive 12.30% increase in the past 24 hours. Despite the outperformance, it remains market neutral with a 14-day RSI of 50.74, suggesting potential sideways trading. However, the past 30 days have seen 43% green days and the 30-day volatility is 10%, which is within manageable range, showing stability amidst the market volatility. TIA shows promise for growth and development with its high liquidity and volume-to-market cap ratio of 0.6605.
3.LEO
Unus Sed Leo represents a utility and trading token made by Bitfinex’s parent company iFinex. Its stated purpose is to increase transparency and eliminate the financial deficit caused by the Tether scandal. The initiative allows users to seamlessly navigate the platform by facilitating the payment of trading fees and conducting trading activities.
A portion of the exchange's revenue is regularly allocated to purchase and destroy tokens. This strategic approach ensures artificial scarcity, prevents inflation and boosts the value of the token. Like Binance's BNB, LEO actively acts as a trading asset on Bitfinex, providing users with reduced trading fees and enhancing their overall trading experience.
Over the past year, LEO has seen a massive 70% price increase and is currently trading 51.51% above its 200-day moving average ($3.85). Despite the volatility, LEO has remained stable, trending positively 40% of the time over the past 30 days. Additionally, LEO has demonstrated resilience, with a 30-day volatility of just 2%. This stability demonstrates consistency amid fluctuating market conditions, making it an attractive option for investors seeking reliability.
4.PAXG
Pax Gold is a gold-backed cryptocurrency launched in September 2019 by the creators of Paxos Standard (PAX). As an ERC-20 token on Ethereum, PAXG provides traders with easy access to gold, which is usually difficult to obtain. The main goal is to increase the tradability of gold, a physical commodity known for its lack of divisibility and transportation flexibility. By tokenizing gold, Paxos Standard aims to enable investors to purchase even the smallest amount of gold, eliminating minimum purchase restrictions.
Its unique backing sets it apart: Each PAXG token represents a fraction of a London Good Delivery gold bar. These bars are securely stored in the Brinker Vault, a storage facility approved by the London Bullion Market Association. This ensures that Pax Gold is fully backed by physical gold, providing investors with the security and stability of precious metals. In addition, blockchain technology combined with gold's reputation as a reliable investment avenue offers traders a new opportunity to diversify their portfolios.
In terms of price movement, PAXG has shown remarkable stability, with a 4.03% price increase in the past 24 hours. Pax Gold is a relatively low-risk investment option, trading 26.77% above its 200-day moving average and a 30-day volatility of 3%. In addition, PAXG has shown stability, with 53% of the past 30 trading days performing well. It is supported by high liquidity, with a volume-to-market cap ratio of 0.2592.
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