The price of Bitcoin continued to fall, from the high point of 64,500 to the integer mark of 60,000. After Ethereum hit the pressure of 2520, it fell back to the support of 2350. It hit the highest point of 2470 twice yesterday, and there was an atmosphere of continuing to open a new downward trend. However, we carefully observed that although the decline was relatively large yesterday, the trading volume did not further increase, which is a relatively good phenomenon. Just like the previous pull-up and shrinking volume were beaten back by the shorts, this wave of decline and shrinking volume, observe the counterattack of the bulls! Overall, there is no need to panic!

The same is true for Ethereum. On the eve of the release of the US core CPI, Bitcoin and the Nasdaq diverged. I personally prefer the final wash-out rather than the start of a new round of decline!

It is indeed difficult for the bulls. It has been nearly seven months since Bitcoin peaked at 73,700 (March 14). Bitcoin has not fallen much in these months, but altcoins have fallen a lot. Therefore, the overall money-making effect this year for retail investors (holding altcoins) can only be said to be: too difficult!

However, we must believe that good times will come after bad times. There is no market that only falls but never rises. After the storm, a new bull market will finally come! After all, other countries outside China have already started to release money. For young investors, I think there will be more people entering our circle, after all, there is more gambling here and the cycle is shorter! There is only one place in the trading market that is open all year round! The capital market itself is a game of human nature, and the B circle has magnified this point in all aspects. Therefore, for the future development of our circle, the increment is far from saturated, and the bull market is worth looking forward to!

4 cryptocurrencies will bring 100 times excess growth!

1.FTM

According to analysis, Fantom (FTM) has shown a potential uptrend. The coin has been trading in a falling wedge pattern for a few months and recently broke above a key resistance level, indicating a shift in momentum.

Captain Faibik's chart analysis suggests that a breakout of this wedge pattern could signal a reversal of the prior downtrend. Typically, this pattern indicates that selling pressure has weakened, allowing buying activity to take over. The breakout occurs when FTM's price breaks above the upper boundary of the wedge, which suggests that buyers are taking control.

The development could represent a turning point for Fantom, which had been trading in a tight range for some time. With the resistance level broken, the outlook for the coin appears to be more positive. A price target range of $1.60 to $1.70 was established, representing significant upside from current levels.

While the charts indicate strong bullish momentum, a potential rebound is not necessarily guaranteed. Still, if buying pressure persists, the coin could soon reach the predicted price range.

2. SHIB

Shiba Inu (SHIB) has experienced a significant recovery following an unexpected price drop over the past 24 hours. The meme coin is showing signs of improvement, with growth metrics including the burn rate rising. The destruction rate increased by more than 455%, indicating that the project’s key metrics have been reset.

Following the recent decline, SHIB is attempting to recover its earlier losses. As of the time of writing, the token has gained 1.68% with the price reaching $0.00001765. It has also managed to break above the previous resistance at $0.0000174 which is currently acting as support. This shift could signal a possible price rebound.

The increase in destruction rates is also significant. Approximately 2,903,600 SHIB tokens were sent to dead wallets, bringing the total amount burned to over 410 trillion. Meanwhile, approximately 583 trillion SHIB are still in circulation.

For investors, this reset is an important development to watch as it may reflect the health of the Shiba Inu ecosystem. Continued improvement in these metrics could lead to more investment in the token and could soon boost its value.

3.DOGE

Dogecoin has shown significant movement recently. It is priced at $0.109319, up 1.73% in the last 24 hours. Over the past year, Dogecoin has experienced massive growth of 85%, outperforming 57% of the top 100 cryptocurrencies during the same period. This indicates relatively strong performance compared to other assets.

In the past 30 days, Dogecoin has closed higher than its daily opening price 16 times, accounting for 53%, which shows that the price activity is still strong. In addition, Dogecoin has high liquidity relative to its market value, so it is easier to trade.

Looking into the short term, next week’s forecasts suggest a possible decline. By October 21, 2024, the forecast range is between $0.107916 and $0.096179. If DOGE reaches the upper estimate, it would mean a drop of 10.88%.

4.AR

Arweave is a decentralized storage network focused on providing permanent data storage solutions. Arweave’s native cryptocurrency, AR, is essential to the operation of the network. It incentivizes participants to host and protect data and rewards their contributions with AR tokens.

Arweave has seen a surge in interest recently, with its price up 4.60% intraday to $19.55. The rise reflects growing interest in decentralized storage options, likely driven by growing demand for data storage among individuals and businesses.

In terms of performance, AR Token has recorded a massive growth of 379% in the past year. During the same period, it has outperformed 87% of the top 100 cryptocurrencies. The coin is currently trading above its 200-day simple moving average, indicating a favorable trend. In the past month, 16 up days have been recorded.

The 14-day relative strength index (RSI) is 41.65, which suggests that Arweave is currently neutral and sideways trading is likely in the near term. Its market capitalization indicates high liquidity, supporting stable trading conditions.

Arweave has a relatively low inflation rate of 0.30% per year, which may help maintain the value of the AR token in the long run. According to a recent forecast by Coincodex, the price of Arweave is expected to rise by 39.14% and could reach $26.21 by November.

(I plan to ambush some low-market-cap coins with good news in the near future to help everyone recover. The current market situation is not stable. I will take 30% in the short term. The next password will be announced soon!!)