Bitcoin stabilizes after weekend carnage: Will bitcoin still rise?

Last week, the crypto market was hit by immediate bearish trends, leading to a massive price drop of popular cryptocurrencies such as bitcoin, ethereum and solana. However, the focus was mainly on bitcoin, with the price falling from $71,000 to less than $63k during that period.

Bitcoin is in a massive downtrend

Bitcoin saw its price drop to low levels last weekend. Within 24 hours on April 14, bitcoin’s price fell by more than 7.5%, dropping the price to around $62,160. Ethereum’s price also quickly followed suit, with its price falling below $2,900 over the same period. However, the broader market correction started on April 12 and worsened on April 14.

WHY IS EVERYTHING CRASHING??!! 😳 pic.twitter.com/slBBjwfLeo

— SlumDOGE Millionaire (@ProTheDoge) April 12, 2024

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Tensions between Israel and Iran have coincided with the market decline and this is seen as part of the cause of the problems. So traders tried to be cautious in the crypto market by moving their capital to less risky investments such as the US dollar. Massive activity with the US dollar saw it rise by more than 0.75%.

On the other hand, the crypto market saw a lot of liquidations, which amounted to over $2.5 billion as of April 12. Within that period, the crypto market recorded another $964 million in liquidations. Data from Coinglass shows that long liquidations were higher than short liquidations. This is an indication of the bullish attitude people had before the sudden market dip.

At the time of writing, there is some slight stability, although Bitcoin is still hovering around the $63k price point. According to the 24-hour data, the highest price in the last 24 hours stands at $64,414, while the lowest is $61,714.

Moreover, at the time of writing, even the number of liquidations has fallen drastically. Coinglass data shows that bitcoin liquidations in the last 24 hours are worth approximately $47.84 million. Within this value, long liquidations are worth approximately $27.86 million, while short liquidations are worth $19.98 million.

Will the price of bitcoin continue to rise?

With the speed at which the price of bitcoin is stabilizing in the market, the price could rise again. According to a TradingView chart provided by Cointelegraph, the crypto market cap should jump from $2.15 billion to $2.50 billion before the end of April for more gains to follow.

Currently, the crypto market cap stands at $2.3 billion, an improvement from previous figures. Moreover, the differences between IntoTheBlock’s bulls and bears metrics are becoming smaller. In combination with the upcoming fourth halving event, it is speculated that the price of bitcoin will rise.

Many people invest in 99Bitcoins in anticipation of a bitcoin price increase

Investing in 99Bitcoins can be an attractive opportunity with the expectation that bitcoin will rise. This platform, which has its roots in making cryptocurrency simple and accessible to everyone, has developed into a leading source of knowledge and news in the crypto world.

Over the years, 99Bitcoins has built a sizable community of over 700,000 members, making it an established name in the industry. A unique aspect of 99Bitcoins is its innovative Learn-to-Earn platform that rewards users for learning about cryptocurrencies.

This platform uses the $99BTC token to drive education and offers many courses designed to educate users on the fundamentals of blockchain and trading strategies. By participating in the platform, users can earn tokens, which then grant access to exclusive benefits such as staking rewards, advanced courses, and VIP communities.

The exclusive benefits for holders of $99BTC tokens, such as staking options and access to advanced educational resources, increase the price expectations of 99Bitcoins.

Dogecoin alternative dogeverse convinces investors – invest now?

Investing in dogeverse can be potentially lucrative for several reasons. Firstly, the presale offers committed investors the chance to purchase tokens at a discounted price, providing a good entry point for early investors looking to benefit from later price increases. With 30 billion of the 200 billion tokens available at a lower price, investors can potentially make a significant profit as the price rises during the sixteen presale phases.

In addition, Dogerse encourages staking, with 10% of the total supply reserved for rewards. This provides an attractive opportunity for users to earn passive income, making the token more attractive to long-term holders.

Furthermore, dogeverse is designed to operate on several major blockchains, making it accessible and usable within a broader crypto ecosystem.

Building a strong community across multiple blockchains and focusing on high staking returns can also contribute to the long-term stability and growth of the project. Moreover, with a hard cap of $17,002,500 and a soft cap of $8,835,000, price expectations from dogeverse are very good, especially with the possibility of further exchange listings after the presale.