Bitcoin suddenly fell for two consecutive days, approaching $60,000. The decline of Bitcoin also affected other competing coins, and the market value of many coins shrank significantly. Altcoins collapsed collectively.
Although it fell as soon as April began, in fact, judging from the monthly line, Bitcoin has been rising for six consecutive months, tying the record set in 2012.
There are several points that need attention in this wave of sharp decline
1. The black swan may have arrived, but it is not the black swan of Bitcoin, but the black swan of copycats.
Second, Bitcoin is backed by institutions such as BlackRock, MicroStrategy Ark, and Fidelity. A sharp pullback of more than 50% is impossible. 60,000 is a strong support and 53,000 is an extreme support. After all, institutions are buying at 70,000, and they will continue to buy at 60,000 or even below.
3. If it continues to fall to 53,000 and hits 48,000, the purpose is to clear the long contracts. If there is still smart money, you can go all in at this position. Don’t wait for Bitcoin to reach 38,500. It is very difficult and money cannot buy the bull to turn around.
4. If you still have funds, invest in previously strong altcoins. Believe that the strong will always be strong. Choose coins that can’t fall any further. The harder they fall, the more trapped shares there will be. Look for coins with low market capitalization, coins with good fundamentals, and coins with capital protection.
Buy these 4 cryptocurrencies with 100x potential at the bottom!
1.TON
Since its launch in 2018, Toncoin (TON) has grown from a decentralized layer 1 blockchain owned by Telegram to a mainstream token with a market cap of over $23.6B, according to data collected by CoinMarketCap. Meanwhile, Toncoin’s price continues to maintain strong momentum since the beginning of March, with experts adding it to the list of cryptocurrencies to watch in the coming weeks.
For context, Toncoin is up about 35% in the past week and over 136% in the past month. Notably, Toncoin’s price has increased by over 180% since the beginning of the month. Meanwhile, Toncoin’s trading volume is on the rise, with average daily volume up over 300% since last week.
The bullish sentiment for Toncoin is evident considering the growing momentum in several key market indicators. This could propel the coin to establish support above the $10 mark by the end of the month.
2. BABY
Pepe (PEPE) has recently experienced a price change from a low of $0.00000628 to a high of $0.00000873. Over the past week, the price of the coin has increased by 3.92%. But looking back at the month, it has decreased by 13.36%. It is worth noting that over the past six months, the price has soared by 1017.94%. The current trend of the token does not show a clear impulse or adjustment trend.
Predicting the future price of PEPE is tricky. Supported by a 0.00000998-month uptrend, it has room to rise, approaching the nearest resistance level of $6. However, considering the recent one-month downtrend, caution is advised. If the coin breaks below the current support level of $0.00000510, further declines may test the second support level of $0.00000265. It is crucial to balance optimism with caution when predicting the trajectory of PEPE.
3.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.
4.BONK
Bonk has been going through a volatile period recently, with prices moving in a narrow range. The market appears indecisive and shows no clear trend, oscillating between small gains and losses. Nonetheless, investors should note that the coin has experienced significant gains over the past six months, indicating strong long-term interest.
As a relatively new player in digital currencies, despite being a young cryptocurrency, BONK relies heavily on its dedicated community, which can generate strong long-term growth for the memecoin. Its long-term growth stands in stark contrast to short-term challenges and is creating a stir in the cryptocurrency community.
BONK is one of the greatest discoveries of 2023 and it has come through stormy times. The cryptocurrency moves within a narrow band and does not show a clear trend, its direction can go in either direction, mainly depending on the market and social interest.
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