Today's Quotes:
The rising wedge we are currently in has lasted for a whole week. A small rise this morning successfully broke through the swing high of 67,000 on the left, but the price did not show the expected large-volume breakthrough + long real demand column. Instead, it went sideways for 4 consecutive 1h levels, and then failed to fall back and fell back below the supply zone of 66,800-67,000.
Considering that this is a false breakthrough to capture liquidity, the wedge pattern is still valid. Although the price is still fluctuating upward, from a technical perspective, a rising wedge with shrinking volume is a bearish pattern before it breaks through the upper edge of the wedge with large volume, especially when the price effectively falls below the lower edge of the wedge.
Remember, the bull market has just begun!
Although some people are worried that the bull market has ended and regard 73,000 as the peak of this round of bull market, I do not agree. First of all, data from various sources show that the mining cost of Bitcoin is between 40,000 and 50,000. Only when Bitcoin is maintained at 55,000 or even 60,000, can miners make considerable profits.
Secondly, although it remains to be seen whether the speculation on slowing down interest rate cuts and raising interest rates is justified, one constant fact is that interest rate hikes are coming to an end and the interest rate cut cycle is about to come. Furthermore, this week, the US stock market fell but the broader market did not follow, the amplitude of the big cake decreased, and the copycat began to suck blood and rise, which are all favorable phenomena.
From the perspective of Bitcoin, it is never too late to buy. From the perspective of altcoins, Bitcoin breaks through the previous historical high and goes sideways, and altcoins will make up for the rise. Therefore, I think the bull market is not over. There are many new altcoins in every bull market, and how to catch them is the important thing. If you don't know what potential coins to buy, then I will recommend you several cryptocurrencies that I think have potential!
Recommend 4 cryptocurrencies with 100x potential, buy them at low prices
1. RNDR
The Render Network is a provider of GPU-based decentralized rendering solutions. RNDR is its native utility token, serving as the payment currency for the services provided by the Render Network.
RNDR is the native token of the project. Current use cases of RNDR include: Payment currency: RNDR is a utility token used to pay for animation, motion graphics, and VFX rendering on the distributed RNDR network.
Render (RNDR) is a distributed GPU rendering network that leverages the Ethereum blockchain to connect artists and studios with unused GPU capacity. Essentially, RNDR creates a market for rendering tasks, allowing artists to gain access to powerful processing power without a large upfront investment, and RNDR has surged over 100% in the last month alone, showing great growth potential. The index is up a massive 12.8%, suggesting that more significant gains could be in the future.
2. INJ
Injective is an open, interoperable, smart contract-enabled blockchain that supports DeFi applications. Injective provides unique plug-and-play modules, including order books and derivatives trading modules, allowing any developer to quickly launch valuable financial applications. In addition, smart contract capabilities enable developers to easily build complex applications using leading protocols.
Injective is built on Cosmos-SDK and uses the Ignite (formerly Tendermint) Proof-of-Stake consensus mechanism to achieve instant deterministic and secure transactions. INJ is the native utility and governance token of Injective. It plays an indispensable role in protocol security, incentives for market makers and relay frontends, derivatives collateralization, etc.
3. CORE
Core is also called Coolcoin by some people. In fact, this Core is an EVM-compatible L1 chain. The project is protected by a novel consensus mechanism called SatoshiPlus, which mainly uses a combination of delegated BTC mining hashing and delegated proof of stake to protect the network. The Core project provides users with the composability of the EVM chain, as well as the decentralization and security of Bitcoin. It is precisely because of this that the project can better solve the blockchain trilemma.
CORE has been performing well recently and stood out as the best performer last week. According to data, its price soared more than 54% last week to over $2. At the beginning of the month, the price of CORE was around $1.3 and rose steadily to $2.7 by April 16. By the weekend, the price stabilized at around $2.1. This increase is nearly $1 from the beginning of the month.
Further analysis shows that CORE is trading up over 5% at the time of reporting, with a market cap of over $1.9 billion. The meme token has experienced a massive surge over the past 24 hours, becoming the most valuable token during that period.
4. ANCHOR
Ankr is building a distributed computing network that leverages idle cloud resources in data centers and edge devices. The computing marketplace unlocks the sharing economy for cloud computing by benefiting both sides of the market. With technologies such as Kubernetes, Docker containers, blockchain, and trusted hardware, Ankr is making the new cloud cheaper, more secure, and more user-friendly. The team is led by ambitious serial entrepreneurs and experienced engineers, and is actively working with large technology companies such as SAP and Telefonica to enable real-world applications.
Ankr's strong fundamentals and dedicated crypto community increase its potential for significant future growth. If Ankr develops good partnerships with other networks, its ANKR coin could be worth more than $0.087 by 2024. Assuming the current crypto market continues its positive trend, we expect the average price of Ankr coin to be around $0.079 by 2024. However, if the crypto market faces a downturn, the minimum value of ANKR coin could drop to $0.074 by 2024.
Just recently, Ankr (ANKR) has seen a significant increase in trading volume on Upbit. The cryptocurrency rose by 186.96% in just one hour, from an average of $6 million previously to $17 million. Although Binance’s trading volume dropped by 10.08%, from $9 million to $8 million, signs point to a bullish trend.
Create a high-quality circle
Spot mainly
I will share some content: as shown below:
The overall position is ≥ 10,000u. If you want to join, scan the QR code below!
(A few hundred or a few thousand is too small to operate. If you don’t have it, you can also send a private message. You can also join after passing the screening.) Purpose: to become bigger and stronger, to create greater glory and turn the bull market around!
The article ends here. I will do a more detailed analysis in the skirt. If you want to enter my circle, please pay attention to the work number (crypto pony) directly. I will reply in time~