As the Year of the Rabbit ends and the Year of the Dragon begins, the cryptocurrency market has attracted much attention. Driven by factors such as the Bitcoin halving and slowing inflation, the Year of the Dragon may become a bull market for cryptocurrencies. Hong Kong CITIC CLSA predicts that compared with the Year of the Tiger and the Year of the Rabbit, the cryptocurrency market in the Year of the Dragon is expected to hit a new high. Bitcoin and Ethereum have risen by 94% and 47% respectively in the Year of the Rabbit, and the upward trend is expected to continue in the Year of the Dragon.



Metalpha analysts believe that inflation has been brought under control and Bitcoin will be halved this year. These two positive factors are expected to rekindle market confidence and drive prices to unprecedented highs. The halving is expected to occur in April, when miners' rewards will be halved, prompting Bitcoin prices to rise. Historical data shows that Bitcoin prices usually take 220 to 240 days to hit a new high after halving, and the next halving will be 10 days later.

DecenTrader's trading strategy tool also made a similar judgment. It predicts that there will be strong buying in the two months before the halving, but the price may fall slightly on the day of the halving. After about a month of adjustment, the Bitcoin price will resume its upward trend in the fourth quarter of 2024 and is expected to break the historical record.



Mainstream crypto assets are expected to surge

In addition, the future of Ethereum is also worth looking forward to. The Year of the Dragon brings bright prospects to Ethereum, especially in the context of the imminent launch of spot ETFs. Through the upcoming Shanghai upgrade, Ethereum transaction fees are expected to be further reduced.
The Dragon Year market may become a turning point in the cryptocurrency bull market. The reduction in inflationary pressure will boost the risk asset market, and the Bitcoin halving is an important catalyst for pushing up prices in history. Against this backdrop, mainstream crypto assets such as Bitcoin and Ethereum are expected to usher in a new round of surges.
Of course, risks still exist. The Federal Reserve may further raise interest rates in the middle of the year, which will hit risky assets. So far, the cryptocurrency market has been greatly affected by the negative impact of external events, and the fragile market confidence is still an uncertain factor.
But on the positive side, two consecutive years of sluggish market conditions have consumed the excessive hype during the market boom, and prices have recovered healthily while fundamentals continue to develop. As the Bitcoin ecosystem continues to mature, the Year of the Dragon is likely to open a new chapter in the mainstream entry of cryptocurrency.

The next most worthwhile investment in 2024



Stack Price Analysis
Stacks ( STX ) has been correcting in an uptrend. The price has been hovering between the moving averages, which shows a tough battle going on between the bulls and bears.

If the price rises above $3.36, it will suggest that the bulls have absorbed the supply. This will increase the possibility of a rally to the overhead resistance at $3.84. If this level is cleared, the STX/USDT pair could move up to $4.27 and subsequently to $5.
Contrary to this assumption, if the price turns down and breaks below the 50-day SMA, it will suggest that the bears are overpowering the bulls. This could start a deeper correction to $2.50 and subsequently to $2.20.

The bulls have pushed the price above the 20 EMA on the 4-hour chart, which suggests that the selling pressure is easing. If the buyers maintain the momentum and push the price above the 50 EMA, the pair is likely to attempt a rally to $3.60 and later to $3.84.
Alternatively, if the price turns down from the 50 SMA, it will suggest that bears are selling on rallies. A break below $3.05 will strengthen the bears and the selling may accelerate below $2.90.

Key Token Economics Takeaways:

- 50% of the token supply will be used for marketing efforts

- 35% of the token supply will be allocated for airdrop rewards

- 10% of the token supply is reserved for issuance on centralized exchanges

- 5% of token supply is used to provide liquidity for decentralized exchanges



Let’s take a quick look at the next 100x coins in 2024:

Smog Token - The largest SOL airdrop in history. Meme coin surpasses Bonk and will attract the attention of thousands of people on the crypto battlefield and will surpass any Meme coin opponent.

Bitcoin Minetrix - A revolutionary cryptocurrency for equity mining, providing cloud mining credits and Bitcoin mining earning opportunities. The pre-sale price of $BTCMTX is $0.0131, and the increase will be more than 100 times.

Sponge V2 – Building on the success of $SPONGE, Sponge V2 offers a Play-to-Earn game and Stake-to-Bridge model, provides a 40% APR, and aims to be listed on the exchanges with the strongest communities and communities.

Meme Kombat – Play and bet on an AI-powered arena where multiple memecoins battle each other, earn staking rewards and multiple earning opportunities for holding $MK tokens.

eTukTuk - an innovative environmentally friendly cryptocurrency product that aims to create a powerful electric vehicle charging network.

This is the end of this issue. If you have any questions, please leave a comment in the comment section.

#asr #AKRM #ACE