Why Bitcoin Price Will Not Pump 5x Anytime Soon but These Coins Will
-
Loading... - Layla Fouad
- 04 Nov 2022
- 49 Views
- 0 Like
- 0 Comment
It’s been a bear market for most of 2022, with Bitcoin struggling to hold on to the 20k mark. Experts believe Bitcoin’s price will rise again with another bull run, but all indicators show that will not be happening anytime soon.
However, Dash2Trade (D2T), Calvaria (RIA), and Impact Project (IMPT) have shown massive potential and are poised to pump 5x their current value or more in the last weeks of the year. Here’s why.
Macroeconomic Events Affect BTC
Bitcoin had an unsteady first half of the year, but experts believe the coin will eventually hit $100,000 in 2023. However, demand for digital currency has drastically dropped as macroeconomic events affect its ability to add value.
The market's sentiment has been hit from the Fed’s rate hike to inflation and various crypto reforms and regulations. As a result, Bitcoin has moved from its 2021 $69k all-time high (ATH) to just a little above $20k at press time.
Bitcoin’s price has traded sideways below the $19,000 price point over the last month and is struggling to stay above $20,000 for a while. But it jumped back to $20,000 on Tuesday afternoon and has remained steady.
Despite low prices, Bitcoin’s price has managed to stay mostly the same over the last month. While the price stability is significant when other assets are plummeting, the current price movement indicates that we will not see a sudden massive pump in the value of BTC.
DeFi Projects Continue to Grow in Crypto Winter
The crypto winter (or bear market) has affected the price of Bitcoin and other major cryptocurrencies, like Ethereum. But decentralized finance (DeFi) projects have continued to rally support and attract investors. Read More...
