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 is in a very difficult phase as comments from the Federal Reserve and economic data create uncertainty within the investment community. According to a popular crypto expert, Bitcoin could even drop towards $60,000 before the end of this week. Could Bitcoin collapse?

Bitcoin’s bad phase has ensured that the rest of the crypto market is also in a difficult phase. Bitcoin has fallen more than 2% over the past week and the entire crypto market also fell more than 1% to a market cap of $2.36 trillion.

Bitcoin Price Chart (7 Days) – Source: CoinMarketCap

Bitcoin is moving near $65,000 following its recent decline.

A ‘hawkish’ stance from the Federal Reserve and negative economic data are the biggest factors behind Bitcoin’s recent declines.

FED stance brings Bitcoin price below $66,000

It recently became clear that the Federal Reserve will probably only implement one interest rate cut this year. Three more interest rate cuts were predicted in March. This change in attitude came about after the release of economic data.

The BLS announced that inflation measured by the CPI remained unchanged for the first time since June of last year. The CPI data itself even rose by 0.2%.

The expectation was that the FED would implement an interest rate cut based on these figures, but nothing turned out to be further from the truth.

A reduction in interest rates is normally a good sign for the Bitcoin price. When interest rates drop, low-risk investments become less attractive. As a result, many investors are choosing to move their capital to riskier investments such as Bitcoin.

Julio Moreno predicts Bitcoin crash towards $60,000 – Could Bitcoin collapse?

Popular crypto expert Julio Moreno recently shared a forecast in which Bitcoin could fall towards $60,000 within a short period of time.

In his tweet he describes the ‘Realized Price’ of Bitcoin. This indicator represents the average cost of purchasing Bitcoin by investors. When the price of Bitcoin is above this indicator, investors have realized a profit. When the price falls below this level, there are losses.

Julio Moreno now indicates how this indicator can serve as support on the one hand, while on the other hand it can lead to an 8% – 12% correction. This correction could bring the Bitcoin price towards $60,000.

Realized Price Indicator Bitcoin – Bron: Julio Moreno via X

Green and red circles can be seen on the Realized Price graph. The green circles are previous moments when this indicator served as support. In these cases, the price was able to prevent a further decline. The red circles are previous moments where this indicator led to significant corrections of 8% to 12%.

The question now is what this indicator is capable of.

At the moment, the Bitcoin price seems to be holding steady above the $65,000 level, a possible sign that the Realized Price indicator serves as support this time.

In any case, investors will need to keep a close eye on Bitcoin’s current price action to determine if Bitcoin is not experiencing a significant correction.

Alternative cryptos to consider

When Bitcoin experiences a significant correction towards $60,000, many investors will choose to diversify their portfolio with Bitcoin alternatives or other projects with a lot of potential. Recently, a number of promising presales have emerged that bring with them the necessary potential. These presales can experience increases when they are listed on exchanges.

While 99Bitcoins is a good alternative to Bitcoin due to its history in the crypto market, PlayDoge and Base Dawgz are two promising crypto projects with great growth potential.

Below we will discuss these three popular cryptos in more detail.

99Bitcoins (99BTC) – Alternative to Bitcoin with great potential

99Bitcoins will be a familiar name for many crypto investors. This project launched a website for crypto information more than 10 years ago. Since its launch, this project has become one of the market leaders in crypto education with over 2 million users for its crypto courses and over 700,000 subscribers to its YouTube channel.

99Bitcoins has now chosen to launch its own crypto, mainly due to the development of its unique Learn-to-Earn system. The native 99BTC token will serve as a reward on this system. Users will be able to earn crypto here while being educated about the crypto market. In total, almost 80 hours of teaching material is ready for this new way of training.

In addition to the 99BTC token serving as a reward, users who hold the token will also be eligible for benefits such as trading signals and exclusive access to VIP community groups. However, the project team has also set aside 14% of the token supply for staking rewards. This means that users will have another way to earn additional 99BTC tokens in the future.

The 99Bitcoins presale has already raised more than $2.2 million. The current price of $0.0011 per token will increase once the $3 million target is reached. Tokens can be purchased on the 99Bitcoins official website via ETH, USDT, BNB and credit card.

Visit 99Bitcoins Presale

PlayDoge (PLAY) – New play-to-earn game goes viral

With PlayDoge, after Notcoin and Floki, a new Play-to-Earn token has now appeared on the market that brings with it the necessary potential. Floki and Notcoin have already shown how much potential there is within the Play-to-Earn segment. Floki quickly achieved a market cap of over $2 billion, while Notcoin also turned out to be worth more than $2.6 billion within a short time.

PlayDoge appears to be taking full advantage of the momentum within this market by introducing its mobile Play-to-Earn game. In PlayDoge’s game, users will receive the iconic Doge meme as a virtual pet. Users will have to care for this pet and can then use it in mini-games to earn the native PLAY token.

In addition to the mobile game, users are also able to earn additional PLAY tokens through PlayDoge’s staking mechanism. 12% of the total token supply is set aside for staking rewards. Recently, ETH staking was added to the original BNB staking, resulting in an APY close to 160%.

In the meantime, PlayDoge is working on one of the best presales of 2024. This presale managed to raise more than $4.7 million in a short time. During this presale, PLAY tokens cost $0.00510 each, but this price will continue to increase at each stage of the presale. Tokens can be purchased via ETH, BNB, USDT and credit card.

Visit PlayDoge Presale

Base Dawgz (DAWGZ) – Utility token DAWGX inspired by freedom of base jumping

Base Dawgz is a new crypto project inspired by the freedom of base jumping. Base Dawgz wants to translate this freedom to the blockchain by enabling a decentralized world without borders. The main goal here is to allow users to move tokens across multiple blockchains. To achieve this, the project introduces multi-chain functionality.

Base Dawgz was developed for the Base blockchain. This blockchain quickly grew into one of the major players and other crypto projects such as BRETT have shown the potential of this blockchain. Brett managed to achieve a market cap of over $1 billion within a short time. To enable multi-chain functionality, the native DAWGZ token is also available on the ETH, SOL, BNB and AVAX blockchains.

The project has chosen to audit its smart contracts through SolidProof so that investors can be assured that it is an honest project without vulnerabilities in its coding. In addition, the project also uses fair and clear tokenomics. 20% of the token supply is reserved for the presale, 20% for staking rewards, 20% for liquidity, 15% for marketing, 15% for DAWGZ rewards and 10% for listings.

The Base Dawgz presale managed to reach the $1 million milestone within a week. The Base Dawgz presale has already raised almost $1.8 million. Tokens cost $0.00527 each and can be purchased via BASE, ETH, BNB, SOL and AVAX.

Visit Base Dawgz Presale

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/2024/06/19/populaire-crypto-expert-voorspelt-bitcoin-crasht-naar-60k-deze-week-kan-bitcoin-instorten/



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