Disclaimer: This is a paid article, from a third party. Cryptocurrencies are a highly volatile and unregulated investment. Readers should do their own research before taking any action regarding the promoted company or any of its mentioned businesses or services. CryptoBenelux is not responsible, directly or indirectly, for any damage or loss caused by or in connection with reliance on goods, services or content mentioned in the press release.
Bitcoin has been testing the upper limit all week, setting a new all-time high (ATH) several times. However, some consolidation seemed to be noticeable and many crypto experts suggested that a correction is coming. It now appears to have actually arrived. Could Bitcoin Collapse?
Current Bitcoin price – Correction after new ATH Bitcoin
This morning, crypto traders, and Bitcoin traders in particular, woke up to red numbers for the first time in a long time. After a week of new ATH Bitcoin listings, there was a significant correction drop of almost 10% at the lowest point. Meanwhile, the loss on March 15 amounts to a decrease of 5.28% to a value of $67,537.
The recent dip has caused a significant liquidation of Bitcoin. Today, around $680 million worth of Bitcoin has already been liquidated. This further amplified the current decline and made Bitcoin worth 10% less.
Over the past two weeks, new Bitcoin ATHs were achieved several times and the well-known cryptocurrency was in a true ‘price discovery range’. After some minor struggles it soon became apparent that the price was consolidating. However, the level above $71,000 was maintained until today. That’s why many investors are wondering: could BTC collapse in the coming period?
Bitcoin price forecast – Could Bitcoin collapse?
Bitcoin’s correction has been coming for a while according to many crypto experts. For example, an analyst from Swissblock stated on Wednesday, March 13, that Bitcoin could fall to $58,000 in a cooling-off period. According to the analytical company, the Bitcoin price had been rising steadily since the end of January. Yet no rally moves in a straight line and at some point a natural correction must occur. This now appears to be the case.
Bitcoin price forecast from Swissblock
Another well-known crypto expert, Captain Faibiks, noted on X that the Bitcoin price was forming a ‘Rising Wedge Downside Breakout’ pattern. This suggests a potentially sharp decline in a price, which turned out to be true in this case.
In his analysis, Captain Faibiks expects that the value of Bitcoin could potentially drop to a value of $60,000. There are several technical indicators that support this view. For example, the Market Value to Realized Value (MVRV) factor also indicates that the decline can go up to $60,0000.
However, this current correction in the run-up to the Bitcoin halving can be a good entry point for many traders. After the halving, Bitcoin often goes into another big rally and historically reaches new ATHs, along with the entire market.
Crypto expert shares promising crypto during Bitcoin crash
After reaching a new ATH Bitcoin, a crash often follows. Although Bitcoin will continue to rise in the longer term, traders are shifting their focus to promising short-term projects.
Recently, a crypto expert shared promising new crypto coins that can deliver high returns in the short term. We have selected three most promising ones for you below. Take a quick look to see which project best suits your portfolio.
Green Bitcoin (GBTC) – Green Bitcoin variant is an ideal alternative
Green Bitcoin is a new project that is an ideal option during the crypto crash. This green Bitcoin variant is attracting a lot of attention from traders now that their token GBTC is in the presale. Unlike Bitcoin, GBTC is still at the beginning of the growth curve. This leaves room for extreme returns for early investors.
The GBTC token is the green crypto variant of Bitcoin. This promising token operates on the Ethereum network and can therefore use the Proof-of-Stake mechanism. This is many times more economical than Bitcoin’s Proof-of-Work. In addition, it is also a lot more lucrative, because Ethereum transaction costs have been significantly reduced with the Dencun upgrade.
In addition, Green Bitcoin introduces interesting ways to make money with crypto. They call this Gamified staking and it works like this:
After your purchase, you can stake the GBTC tokens at a very lucrative APY. This allows you to immediately generate passive income, even before the token has been officially launched. In addition, you can predict the Bitcoin price on the platform. Correct predictions will increase your rewards from the staking pool.
The presale has been a great success and many investors have already joined in a short time. A major milestone of $4 million was achieved last Wednesday. The counter has now already exceeded $4.8 million, which clearly shows that many investors have confidence in the project.
Now to Green Bitcoin
eTukTuk (TUK) – Sustainable crypto solves world problems
eTukTuk was also tipped by the crypto expert after reaching a new Bitcoin ATH. This sustainable crypto has a unique concept that aims to improve the world. For this purpose they have developed a new token called: TUK token.
eTukTuk wants to improve and make the transport sector in developing countries more sustainable. In countries such as Sri Lanka, the tuk tuk is a very popular means of transport. However, the tuktuk is a very polluting vehicle due to the two-stroke engine. This causes a lot of CO2 emissions and poor air quality. eTukTuk has come up with a solution for this: the electric tuktuk, also known as the eTukTuk.
In addition, eTukTuk will work with partners to provide an extensive charging network, where drivers can charge their tuktuk with TUK tokens. In Sri Lanka, eTukTuk is already working with the government to realize this plan. In addition, the TUK token plays a central role in a very entertaining Play-to-Earn game.
Investors of the TUK token can also benefit from this. This way, they can benefit from increasing value as demand for the token increases through the charging network. In addition, holders can stake the token for additional rewards. These will be partly funded with the profit from the project.
The TUK token is still for sale in the presale. So take a quick look at the website and ensure yourself of enough TUK tokens before the price rises.
Now to eTukTuk
Bitcoin Minetrix (BTCMTX) – Stake-to-Mine Bitcoin Ahead of Halving
In the short term, crypto experts say that the Bitcoin price will fall for a while. Still, its value will almost certainly increase in the long term. That is why it may still be wise to look for some Bitcoins now. This is possible via Bitcoin Minetrix, without having to buy at a high price. How exactly does this work?
You can buy BTCMTX tokens via the Bitcoin Minetrix presale. You can immediately stake these tokens at a nice APY, even if the presale is still running. For this you will receive great rewards via extra BTCMTX tokens.
However, after the presale ends, you will also receive special cloud mining credits. You can then use these credits to claim part of the cloud mining proceeds, read: Bitcoin. This allows you as a private individual to mine Bitcoin efficiently again, without having to spend a lot of money on expensive equipment.
In the run-up to the Bitcoin halving, it can be very interesting to get some extra Bitcoins. So take a quick look at the Bitcoin Minetrix presale, in which more than $12.8 million has already been raised. The end is already in sight, leaving you with limited time to act.
Now to Bitcoin Minetrix
Disclaimer: This is a paid article, from a third party. Cryptocurrencies are a highly volatile and unregulated investment. Readers should do their own research before taking any action regarding the promoted company or any of its mentioned businesses or services. CryptoBenelux is not responsible, directly or indirectly, for any damage or loss caused by or in connection with reliance on goods, services or content mentioned in the press release.
Source: https://cryptobenelux.com/2024/03/17/kan-bitcoin-instorten-crypto-expert-voorziet-mogelijke-correctie-naar-60k-na-bereiken-nieuwe-ath-bitcoin/
