Bitcoin halving triggers bullish trend, but macro factors may affect the market. The cryptocurrency industry is developing rapidly, and the issuance of stablecoins is increasing. The macro situation has a significant impact on the cryptocurrency market, and the correlation between Bitcoin and gold has increased. The US debt ceiling and geopolitical situation in 2023 are key risks. Bitcoin halving is a constructive event, but the macro environment and the cryptocurrency vertical industry are still important catalysts for the bull market. After the COVID-19 stimulus, Bitcoin's sensitivity to global liquidity has weakened, and the value storage narrative will become the focus of the next cycle.
There is a sharp contrast between gold and Bitcoin at the moment. This is nothing new to the world, but with the launch of the Bitcoin ETF, it is more solidified. The bull market will continue to be judged by the performance of Bitcoin on the trading boards. Its task is to stay above $66,000.
The RSI shows that Bitcoin is dancing to the bullish tune. This is evident as BTC has reclaimed the $66,000 mark. Although this happened for a short period of time, it has laid the foundation for the $63,800 resistance level. The formation of a triple top pattern further contributed to this factor. Thus rekindling all hopes of a new ATH in the days ahead. Moreover, the recent trend also confirms the continuation of the bull run.
Bitcoin has experienced significant appreciation in value, and there are still many alternative cryptocurrencies (altcoins) that are undervalued by the market. The potential gains in the coming year are hugely transformative, and as mainstream cryptocurrencies take the lead in making leaps in value, more distinctive altcoins are expected to appreciate in value as well.
The bull market is coming, lay out and ambush these 4 cryptocurrencies with 100x potential!
1.LINK
Link coin, also known as ChainLink, is an important asset in decentralized finance (DeFi). It is an Ethereum-based smart contract that can provide real-world data services for decentralized applications. The Chinese name of Link coin is "链链", and its main purpose is to build a secure, reliable and efficient decentralized data service network. In the ChainLink network, Link coin is the currency used to reward nodes for providing data services.
The core technology of ChainLink is the ChainLink network, which consists of a set of nodes, each of which provides one or more data services. These data services can be of any type, such as financial data, weather data, market data, etc. These data services are delivered through the ChainLink network and used by decentralized financial applications.
Chainlink’s price has recently surged 20%. The upturn was driven primarily by broader market trends, specifically the Bitcoin halving event. Some 82.18 million LINK tokens (worth about $1.3 billion) are returning to previous supply levels after a temporary reduction.
The token is currently priced at $15.44, with an intraday increase of 3.60%. In recent days, the proportion of profitable LINK supply has rebounded from 70% to 84%, indicating that investor confidence has temporarily recovered.
2. CHECK
XEC coin is a cryptocurrency, the full name is X-Energy Chain coin. It is a digital asset based on blockchain technology, which aims to provide a safe and efficient trading platform and payment tool for the energy industry. XEC coin has a limited issuance and uses decentralized distributed ledger technology to ensure the security and transparency of transactions.
XEC has the following four characteristics, which also become its strong competitive advantage in the encryption market:
1. Efficient payment: XEC coin adopts a fast-confirmed transaction mechanism that can complete transactions within a few seconds, which is faster and more efficient than traditional bank transfers.
2. Safe and reliable: XEC coins are based on blockchain technology, and transaction records are stored in a decentralized distributed ledger to prevent data tampering and information leakage.
3. Low cost: The transaction fee of XEC coin is relatively low, which can save costs whether it is cross-border payment or small payment.
4. Anonymity: XEC coin transactions are anonymous, and users can protect their personal privacy.
Currently, it is trading at $0.0000558, up slightly by 0.40% intraday. Similarly, XEC is also trending upward in the short term, trading 129.98% above its 200-day simple moving average (SMA) of $0.00003064. Over the past year, its price has surged 84%, outperforming 50% of the top 100 crypto assets in the same period.
3.DODO
DODO is a cryptocurrency that uses a decentralized exchange protocol. The DODO token is the native token of the protocol, and its goal is to provide a faster, safer, and more inclusive decentralized trading experience.
DODO was co-founded by a group of experienced blockchain developers and financial professionals. They found that traditional DEX (decentralized exchanges) had liquidity problems, resulting in high transaction costs. To solve this problem, they developed a new decentralized trading protocol, the DODO protocol.
As an emerging decentralized trading protocol, DODO has achieved certain results in the market. With the rapid development of the digital currency market and the increasing demand for decentralized trading among users, DODO has a good development prospect.
At present, DODO has cooperated with many well-known blockchain projects to provide trading services on their platforms, which has promoted its own development. At the same time, the DODO team is also constantly improving and innovating to enhance the functionality and performance of the protocol to meet the needs of users. As the core of the DODO protocol, the DODO token will continue to play an important role.
On April 22, the decentralized trading platform DODO announced the launch of DODOChain. It is reported that the chain will serve as Omni Trade Layer3, supported by Arbitrum Orbit, EigenLayer and AltLayer. DODOchain will achieve seamless bridging of Bitcoin and Ethereum Layer 2, aiming to integrate liquidity from different chains. With the further development of blockchain technology and the digital currency market, DODO is expected to achieve greater success in the future and provide users with a better decentralized trading experience.
4. YGG
YGG Coin (Yield Guild Games Token) is a cryptographic digital currency whose development is influenced by blockchain technology and game economy. The goal of YGG Coin is to support and develop the economic system of the virtual world and provide players with creative opportunities and sustainable income.
As a token, YGG Coin has multiple uses in the virtual world. It can be used to buy, sell and exchange virtual assets such as in-game props, land and rare items. Compared with many other virtual currencies, YGG Coin is unique in that it focuses on the game economy, providing players with more development opportunities and profit potential.
The total amount of YGG coins issued is limited, which provides a certain scarcity for coin holders. This scarcity can increase the value and demand of the coin, thereby bringing more benefits to coin holders. In addition, the issuance and circulation of YGG coins are based on smart contracts, which means that the transparency and security of transactions are guaranteed.
According to the news on April 22, Token Unlocks data showed that this week, tokens such as YGG, ID and AGIX will usher in a one-time large-scale unlocking, with a total value of 45.86 million US dollars. Among them, Yield Guild Games (YGG) will unlock 16.69 million tokens at 10 pm on April 27, with a value of approximately 15.71 million US dollars, accounting for 5.33% of the circulating supply. YGG will have a place in the future crypto market.