A true bull market prevailed at the start of 2024, with the Bitcoin price reaching a new high of $73.6k. However, current affairs have changed and it appears we are trending towards a bear market. This shift comes after the Bitcoin price fell 8% from its record high.

When we look at what people are saying, we see that there is less and less enthusiasm about buying and more talk about the market being in a slump. However, this can be good news in a strange way. In the past, the opposite has always happened when people thought a new bear market was coming.

Some analysts expect we will see prices rise again after the next Bitcoin halving, when the rewards for mining new Bitcoins will be halved. This halving took place last night from Friday to Saturday, and since then the price has been rising slightly again.

Bitcoin price at a turning point

If we analyze various data points, it becomes clear that the Bitcoin price is at a major turning point. With rising bearish sentiment, it is becoming clear that the FUD, which overshadowed earlier fear of missing out (FOMO), could ironically be the precursor to a recovery.

Bitcoin price
Bitcoin price / Source: TradingView

On the technical side, the graph points to important points. Bitcoin has a soft support level around $62,000. If it falls below this, the price could drop significantly. On the other hand, Bitcoin is encountering resistance around $65,000. At the moment, the price seems to be breaking through this resistance level.

At the moment the price seems to be consolidating. The next major price movements will occur after the next Bitcoin halving. However, the sentiment is questionable. Investors are not rushing to provide fresh inflows into the market.

Top 3 crypto alternatives to BTC

Although well-known cryptocurrencies such as Bitcoin and Ethereum have not seen explosive increases in recent weeks, these three alternatives could provide significant gains in the short term. These promising altcoins are all still in the presale phase, after which they can grow explosively.

Dogeverse – Take a journey through the Dogeverse

With Dogeverse ($DOGEVERSE) you travel through the blockchain sector. This unique meme coin is available on multiple blockchains. Journey through Ethereum, BNB, Polygon, Solana, Avalanche and Base. This chain-traveling Doge hopes to build a community across multiple blockchains.

Dogeverse presaleDogeverse presale

$DOGEVERSE will contain a total of 200 million tokens. Of these, 30 million tokens will be available during the presale. In addition, 10% is kept for staking rewards. Even during the presale, users can earn staking rewards.

The rest of the tokens will be used to further grow the project. This includes an extensive marketing campaign, liquidity for exchanges and further development of the ecosystem. Tokens are now available for $0.000298 each. So act quickly to get your hands on the world’s first chain-traveling Doge.

Slothana – The lazy meme coin on Solana

Slothana ($SLOTH) is a brand new meme coin on Solana. The mascot of this meme coin is a sloth. The project therefore offers the opportunity to earn money from the comfort of your home. $SLOTH, Slothana’s native token, is launching in a unique way. This does not happen via a presale or DEX launch, but via a send-to-wallet airdrop system. Users send $SOL to the mentioned wallet address to receive the tokens after a certain period.

Slothana presaleSlothana presale

By sending 1 SOL, you will immediately receive 10,000 $SLOTH. This way of launching tokens has proven to be very popular. The project has already raised over $10 million and will soon end its send-to-wallet sale.

Users have less than 10 days left to send $SOL to the wallet address. Get as much as 10,000 $SLOTH before the Slothana price explodes after its launch. Be quick, because tokens on Solana have been very popular lately.

Mega Dice – Well-known casino with its own token

Mega Dice ($DICE) recently launched its own cryptocurrency. The popular online casino has been active for years and has built up a community of 50,000 players. Of these, 10,000 play every month, betting a combined $50 million. This healthy foundation of the online casino will further strengthen the $DICE ecosystem.

Mega Dice presale tokenMega Dice presale token

For example, stakers receive daily rewards based on the casino’s performance. Mega Dice will also use part of its profits to buy back $DICE tokens. Some of these tokens are burned (destroyed), so that the token is also deflationary. As a result, its value will only increase over time.

Casino players also receive various benefits when they wager $DICE. This gives them access to exclusive games, bonuses and other benefits. The presale has recently started. In this, 35% of the 420 million tokens are sold at a price of $0.069 each. Buy $DICE tokens quickly and take advantage of the Early Bird staking benefits.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.

Source: https://bitcoinmagazine.nl/nieuws/bekende-crypto-analist-voorspelt-einde-crypto-bull-run-3-cryptos-met-potentie-in-naderende-bear-market

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