(Kitco News) Pre-halving volatility continued to dominate the crypto market on Tuesday as prices reversed course following Mondays spike, with Bitcoin (BTC) plunging below $69,000 while altcoins got hammered.

Stocks trended lower for most of the trading day as investors sat on the sidelines ahead of tomorrows Consumer Price Index (CPI) report, which will help shed light on the likely path of U.S. interest rates. Currently, the market sees a 57% chance of a rate cut in June, while the odds of a cut in July stand at 74%.

A rally into the close managed to lift the S&P and Nasdaq out of negative territory for a gain of 0.14% and 0.32%, respectively, while the Dow finished flat.

Data provided by TradingView shows that Bitcoin has been in a downtrend since it peaked at $72,800 on Monday, falling 6.82% to hit a low of $68,200 on Tuesday afternoon before dip buyers managed to push it back above $69,000.

BTC/USD Chart by TradingView

At the time of writing, BTC trades at $69,030, a decline of 3.75% on the 24-hour chart.

Volatility expected

The recent macro environment is like a pendulum, constantly oscillating between hope for the Goldilocks scenario of a perfect soft landing and fears of inflation picking up again and forcing more hawkish monetary policy, said market analyst Bloodgood in his latestupdate. Right now sentiment seems to be swinging a bit in the bearish direction with stocks having an unusual dump on Thursday, although much of it was retraced by the weekly close.

In any case, all eyes are on tomorrows CPI release, and the consensus forecast is at 3.5%, he said. Given that the market is terrified of the possibility that the Fed may have acted too soon with dovish signaling although theres still no clarity on when the rate cuts will finally come any surprises in terms of hotter-than-expected inflation would have an outsized impact on the market.

Needless to say, caution is advised especially if youve got any leveraged positions open, Bloodgood warned.

While Bitcoin successfully closed the weekly candle above a key level last week, Bloodgood said he is seeing a lot of indecision lately as neither side is managing to follow through after a break in either direction.

However, we are still slowly drifting upwards and printing higher lows, which gives me confidence that bulls are still in control here, he said. The big test will come at the current All-Time-High which is slightly above $73,700.

Apart from BTC reclaiming the $70k level, not much has changed, Bloodgood noted. Times are uncertain as we are about to have a BTC halving right after making a fresh ATH which isnt how cycles typically look so were definitely in uncharted territory.

Briefly touching on gold, he highlighted that Gold is simply not stopping. New week, new all-time high. There is not much you can do right now but watch it fly, he said.

Overall, Bloodgood noted that this bull market cycle in the crypto market is different from all its predecessors thus far, so traders would be wise to trade the chart in front of them and not rely on fractal patterns or previous cycles to determine what will come next.

Apart from a Bitcoin ATH before the halving, another thing that makes this cycle unusual is that memecoins are capturing so much attention and so persistently when BTC is barely above the previous ATH, he said. While some see this as a top signal, I think its got more to do with the normie-friendly nature of memecoins.

Instead of having to understand complex technical details of a project and worrying about when and how VCs will dump their bags, many new entrants to the market find it much easier to speculate on something based on how funny and catchy it is, he added. Of course, this is still largely just gambling, as there are countless rugs for every memecoin that pulls 100x, not to mention that even the ones that pump most often end up teaching the few people that got in early some hard lessons about liquidity and sustainability.

That being said, there are still technically impressive projects that are doing great, and I do believe that capital will start to rotate more and more to these tokens later in the cycle, he concluded.

According to MN Trading founder Michal van de Poppe, in the near term, Bitcoin is likely to trade sideways and consolidate until sometime after the halving.

Altcoins follow Bitcoin lower

The altcoin market was hard-hit by Bitcoins pullback, with only 10 tokens in the top 200 registering a gain of more than 2%, while the vast majority recorded losses.

Daily cryptocurrency market performance. Source: Coin360

Theta Fuel (TFUEL) led the gainers with an increase of 24.5%, followed by Saga (SAGA), which gained 10.4%, while MX Token (MX) climbed 9.4%. Meme coin dogwifhat (WIF) was the biggest loser, falling 14.9%, while Arkham (ARKM) lost 13.9%, and Wormhole (W) declined 13.5%.

The overall cryptocurrency market cap now stands at $2.6 trillion, and Bitcoins dominance rate is 52.3%.

Disclaimer:The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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Crypto bloodbath: Altcoins crushed as Bitcoin tanks pre-halving - Kitco NEWS

The crypto market is booming, and investors and traders are aligning themselves with assets that can harness the most significant returns. One notable trader is betting massively on the NFTFN token to profit massively during this bull run. Their wallet activity shows them moving funds into this presale token to witness long-term growth as it expectedly becomes a top gainer as the year unfolds.

Currently offered at $0.030 in phase 2 of its presale, the NFTFN token has become the choice of this trader whose wallet history shows whale-like activity in some of the top tokens in the market, including ETH, SOL, and BNB. A massive chunk of their holdings has now been diverted to this new altcoin. They are not alone in knowing the tremendous return-generating capability of NFTFN as several analysts inform on its possible 100X growth in the coming months.

>> Be Among the FIRST! Get the Exclusive Perks From NFTFN Presale <<

The collective belief in the tokens eventual price surges arises from the platform it is native to, the NFTFN platform a novel trading dApp at the cusp of revolutionizing the NFT market. Its novelty comes from allowing anyone with just $10 to ride the price momentum of some of the most popular top-dollar blue-chip NFTs. With that, NFTFN breeds new possibilities in the NFT segment.

Buying and trading blue-chip NFTs was a highly lucrative affair reserved only for those with significant capital. The high valuations of these assets kept most NFT enthusiasts from ever interacting with them, constricting them to only interact with less-known collections. That brought several drawbacks for the average NFT enthusiast, including many such collections turning out to be scams or tanking in value due to the lack of resilience against negative market conditions. Either way, these NFT lovers lose the value they put into the NFT market.

With NFTFNs advancement, they can now rely on the robust price activity of top NFTs, which are neither scams nor weak enough to not hold against negative market movements. Thus, NFT enthusiasts can rejoice in knowing they, too, can profit from their favorite NFT collections. NFTFN evens the playing ground for those who do not hold large capital.

This revolutionary offering will push NFTFN to the top of the NFT segment as users flock to adopt its transformative use case. Those arriving at its doorstep will stay for more than the use case. NFTFN also provides a user-centric trading experience, setting it apart from trading applications across industries. For instance, its DEX ensures all trades are executed in a decentralized manner, removing centralized corruption from bleeding into the trading processes. Simultaneously, its open orderbook advances transparency to users, letting them verify if their trades occur at fair prices.

The benefits do not end there. NFTFN eliminates all hidden fees, including slippage charges effected by several trading platforms. Users do not have to spend unnecessarily on NFTFN. In fact, it lets users make the biggest returns while they save, offering them 10X leverage potential to go big on trades and earn the largest profits.

It also considers those who want to trade more than just NFTs by providing tradeable indices of various asset types, including Bitcoin Ordinals, RWAs, and ERC-20 tokens. Users can diversify their trading positions by indulging in any of these asset types and making the most of their price movements.

The NFTFN trading platform brings a never-before-seen utility to the forefront of the NFT segment. Its adoption capability is undoubted many from the NFT ecosystem and the larger Web3 landscape will use it to harness returns from the most popular NFT collections. As that happens, the NFTFN tokens price will rise quickly to net holders unprecedented gains. That is precisely why many crypto enthusiasts are moving to make the most of its presale.

NFTFN is the go-to platform for perpetual trading of diverse assets like Blue-Chip NFTs, Crypto, and Real-World Assets. With a minimum investment of just $10, users can easily take long or short positions on their chosen asset class, catering to traders of all levels.

Discover the Most Exclusive Presale Opportunity of 2024 Now: NFTFN Token Official Website | Visit NFTFN Token Presale Join Official Telegram Group | Follow Official X Account

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This Trader's Betting Big on an Altcoin for the Upcoming Crypto Surge - Analytics Insight

XRP is trending as of late, primarily due to its slow, gradual price approach. Despite the booming crypto bull market, the positive price momentum has yet to hit XRP with its full force.

The current market stance is promoting the altcoin surge. With Bitcoin hovering near $70K, XRP has gained a modest 1% in the last 24 hours. The announcement of Ripple stablecoin development has delivered decent traction to XRP but has not yet helped the token break into bullish momentum.

With crippling questions gnawing at investors minds, several crypto platforms have instilled hope within the XRP community. The platforms have predicted bullish forecasts for XRP, stating that the token will soon cross its ambitious $2 barrier.

Also Read: Cryptocurrency: Top 3 Crypto Coins Slated To Deliver Top Returns Post Bitcoin Halving

XRPs slow price pace has fueled significant skepticism within the Ripple community. Several users on X were noted expressing their discontent concerning Ripple, sharing how the tokens lethargic price movement is perplexing investors.

Demystifying the rumor spree rife in the space, Egrag Crypto, a notable crypto analyst, uploaded a fresh XRP candlestick chart on X. The analyst later shared how the token is moving at a fairly anticipated rate.

#XRP / #BTC Returning to Mean (21 EMA):

The 21 Weekly EMA serves as a pivotal mean value for the price between #XRP / #BTC, acting as a point of convergence even amidst market volatility. Whether during Pumps & Dumps or regular market movements, we often see price action pic.twitter.com/9zI8eBQH3S

The price chart showed the Ripple price moving at a gradual pace. As compared to its contemporaries, Ripple has adapted to a mildly moving pace without encountering any major dips or declines, which shows the tokens lasting strength and mettle.

Per crypto platform Changelly, Ripple is expected to cross the ambitious $1 mark by 2026. Based on various technical indicators, Changelly predicts XRP to trade at or below $0.75 by the end of 2024.

Once the critical price barrier of $0.75 is crossed, XRP is set to outpace its contemporaries, breaking into a bullish streak.

The platform further predicts XRP to hit $2 by the year 2027, eventually stabilizing its price momentum for the long haul.

CoinCodex, another notable crypto analytics platform, echoes a similar forecast predicted by Changelly. Per CC, XRP is expected to trade at $1.25 by the year 2025.

The RIPPLE price prediction for 2025 is currently between $0.372431 on the lower end and $1.843322 on the high end. Compared to todays price, RIPPLE could gain 205.28% by 2025 if it reaches the upper price target.

With Bitcoin halving in the mix, the prices of several altcoins, including XRP, are expected to claim some of their lost value and price momentum. Ripples new stablecoin announcement has stirred the crypto community, hoping XRP will emerge as the ultimate winner.

Also Read: XRP Price: Analyst Bullish For $1 Breakout Despite Ripples Sluggish Ascent

Per CoinCodex, XRP may gain nearly 12% by May 8, 2024.

According to our current RIPPLE price prediction, the price of RIPPLE is predicted to rise by 12.78% and reach $0.669400 by May 8, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 76 (extreme greed). RIPPLE recorded 16/30 (53%) green days with 4.44% price volatility over the last 30 days.

However, various market factors and sentiments can always derail crypto price predictions made by analysts. Hence, discretion becomes imperative while making any financial deals in the said domain.

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New XRP Prediction Forecasts Altcoin To Reach $1 to $2 - Watcher Guru

Now may truly be the time for investing in the best altcoins to buy. There is reason to believe that a so-called altseason will soon begin. Remember, altcoin refers to all other cryptocurrencies except Bitcoin (BTC-USD).

Altseason generally refers to a period of strength for all alternative assets. That strong period generally occurs after Bitcoin tops out and investors rotate back into more speculative altcoins. So, that begs the question: why might Bitcoin top out soon? For one, investors have seen BTC prices struggle to maintain the $70k mark.

BTC prices will likely rise again following the upcoming halving. After that, prices will likely turn out, prompting a new altseason. That said, lets take a look at seven altcoins poised to profit as that shift emerges.

Source: DUSAN ZIDAR / Shutterstock.com

Stratos (STOS-USD) is one of the more interesting altcoins for crypto investors. It is a project that benefits from The enthusiasm around artificial intelligence overall. That enthusiasm has propelled the stock market much higher over the past year. It is now spilling into cryptocurrency, and Stratos is a beneficiary.

Stratos is essentially a decentralized platform for databases, storage and computing. Those are the areas where investors have spent substantial money chasing AI gains in the stock market. Stratos offers the same opportunities but with the twist of decentralization.

The project was designed to overcome the scaling issues plaguing blockchain networks while maintaining the benefits. It remains attractive along with several other decentralized storage platform cryptos. Investors are interested in the offering, given that prices have doubled over the past few months. The confluence of AI and cryptocurrency is just beginning to yield returns for investors. Thus, Stratos and other altcoins in that niche will be the ones to watch moving forward.

Source: Pixabay

Dogecoin (DOGE-USD) is one of the best choices for investors up to any altseason. It is also the original meme coin and arguably the most stable cryptocurrency during periods of speculation.

Thats why I believe investors should consider Dogecoin at this time: It isnt going to crater spectacularly like other upstart meme coins often do. At the same time, Dogecoin also offers a chance for strong returns.

What else is good about Dogecoin is that it does very well, as Bitcoin has risen. Dogecoin is essentially a bastion of stability for speculators at any time.

There are also rumors that Elon Musk could integrate Dogecoin as a payment method at X. If Musk does integrate Dogecoin with the former Twitter, its value should certainly increase, given the increased utility. A relative lack of utility is one of the main criticisms of meme coins like Dogecoin. It certainly would be nice to see the project evolve into more than the joke it originally intended to be.

Source: Maxx-Studio / Shutterstock.com

Bittensor (TAO-USD) has become one of the hottest cryptocurrencies, and for good reason. It provides a lot of utility and gives it in the red-hot area of machine learning. In other words, it does something, and what it does is growing.

That trending area is machine learning. Investors are well aware of how important machine learning is too artificial intelligence. Those fields have sent stocks much higher, and that performance is now spilling into the cryptocurrency market.

Bittensor essentially enables collaborative training between disparate machine-learning models. It then rewards those projects TAO based on the utility they provide. Thus, Bittensor is a marketplace that assigns value to various machine learning models based on their ability. Demand for Bittensors services was high, sending prices from $50 to over $700 within the last few months. It has since corrected back down to $530.

It remains one of the most interesting projects in the machine-learning crypto space and clearly provides utility.

Source: Maurice NORBERT / Shutterstock.com

Render (RNDR-USD) is a cryptocurrency that has seized upon one of the most important trends in the market lately: excess resource distribution and allocation. Projects like Filecoin (FIL-USD) and Storj (STORJ-USD) are prime examples of that trend. What all of these projects have in common is a business offering predicated on the allocation of excess resources.

Filecoin and Storj are focused on excess memory and data storage. Conversely, Render utilizes the excess GPU capacity that we have on our devices. If we choose, we can sell that excess GPU capacity, which is in high demand In places like digital content creation.

Renders growth trajectory has been impressive. The project has multiplied in value several times since late 2023. An investor who staked the position in early September would have seen their capital multiplying value 10 times by mid-March. It has been corrected since then but should continue to be strong based on the utility it offers.

Source: Rcc_Btn / Shutterstock.com

Solana (SOL-USD) continues to emerge as the primary competitor to Ethereum (ETH-USD). Investors are well aware that its transaction speeds and fees are better than those offered by Ethereum. That has been the narrative surrounding Solana for the past several years.

The data regarding those specs continues to be impressive. Recently, it was revealed that 1 million transactions per second are possible on the network. Ethereum claims its TPS could run as high as 100,000 in the coming years, though current TPS rates are much lower and closer to 15.

It seems clear that Solana is proving itself to be much more capable than Ethereum. Ethereum does not seem capable of increasing its transaction speed despite claims to the contrary. Those transaction rates cost Solana a lot of money, and the door remains wide open for it to continue growing. Ethereum may be in the same spot in a few years, and Solana could realistically usurp its position.

Source: solvertv / Shutterstock.com

Myro (MYRO-USD) is a Solana-based meme coin and an appropriate cryptocurrency to discuss. Solana-based projects are going to continue to be strong. I think that to be true, as primarily discussed above, Solana has much better specs than Ethereum, which is the primary alternative.

Myro is essentially an alternative to Dogecoin. The projects are similar in that they both leverage dogs in their branding. However, Dogecoin leverages the Ethereum network, whereas Myro leverages Solanas.

Evidence continues that Solana may become the better layer one protocol in the long run. Ethereum established a dominant position but continues to be played by speed, efficiency and price issues, which could eventually lead to Solana overtaking Ethereum. That would benefit meme coins/altcoins that leverage its network, including Myro. Thats one of the best reasons to consider investing in the relatively unknown cryptocurrency.

Source: shutterstock.com/ChrisStock82

Pepe (PEPE-USD) is another meme coin full of takeoff potential. The highly visible meme coin took off in 2023 and continues to be extremely inexpensive. Thats part of the reason to believe in its continued potential: At $0.0000066, Pepe is so cheap investors can scoop up a lot of it for very little. It also has so many zeros after the decimal point that rapid gains become achievable.

In that regard, its a lot like Shiba Inu (SHIB-USD) was a few years ago. Its also similar to Shiba Inu in that it really has no utility or value in the real world. Its a speculative vehicle by which traders attempt to capture rapid, sometimes impressive returns.

Pepe also has controversy behind it. The character has been associated with multiple movements, whether the creator likes it or not. The point here is that controversy draws attention, and that attention can galvanize investment.

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.

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Altseason Is the Reason: 7 Altcoins to Buy Before They Take Off - InvestorPlace

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The meme coin market heats up, highlighting dogwifhats (WIF) standout performance and Near Protocols (NEAR) buzz. Additionally, the spotlight turns to InQubeta (QUBE), a new AI altcoin with a unique investment approach.

The meme coin market has been on a wild ride since the recent SEC decision on Bitcoin ETF, with many surging to new highs. This article dives into the recent meme coin craze, highlighting the impressive performance of dogwifhat (WIF) and the growing interest in Near Protocol (NEAR). Well also explore emerging crypto InQubeta (QUBE), an AI-focused altcoin to watch with a unique approach to democratizing AI investments.

The meme coin market has been on fire again, with coins like PEPE, BONK, and DOGE experiencing significant pumps in late February and early March. But while most of these coins are cooling off, one pup has defied the odds: dogwifhat (WIF).

WIF, inspired by the viral meme of a Shiba Inu sporting a dapper hat, has seen a 50% price increase recently, leaving its meme coin competitors in the dust. While DOGE and BONK managed a measly 5% increase, and SHIB even dipped by 4%, WIF soared, solidifying its place as a top contender.

Looking at the charts, its evident that WIF has been on a steady climb since December, but it really kicked into high gear in late February when the whole meme coin craze took off. Its market cap of more than $2 billion has placed it in the big leagues, alongside DOGE, SHIB, and PEPE.

The recent surge in NEAR Protocol token value is causing quite a stir among crypto enthusiasts. This exciting development is all thanks to NEAR Protocols involvement at Nvidias AI conference. The event promises potential insights and partnerships that could seriously boost NEARs standing in the market.

Weve seen in the past that partnerships and positive industry exposure often translate to price bumps. So, theres a good chance the NEAR token will keep riding that wave, possibly hitting even higher price points.

The impact of the Nvidia conference might not be as earth-shattering as we hope. If the event doesnt quite meet investor expectations or if any collaborations fall through, it could put a damper on NEARs recent gains. In the short term, we might see some ups and downs in the tokens price.

While meme coins and established protocols like NEAR grab headlines, theres a new breed of altcoins quietly making waves. InQubeta (QUBE) is a blockchain ICO platform capitalizing on the burgeoning AI sector by making AI investments accessible through a crypto crowdfunding ecosystem.

InQubetas ongoing presale has already garnered a significant $12.1 million, demonstrating strong investor interest. Currently, QUBE tokens are priced at $0.028, with the next stage set for an increase to $0.0308.

Heres how it works: QUBE tokens are deflationary ERC20 coins designed to redefine AI startup funding and foster community engagement. These tokens feature a built-in transaction tax. 2% goes to a burn wallet, effectively reducing the total supply, and 5% is allocated to a reward pool, allowing holders to earn passive income through staking.

But the real magic lies in InQubetas NFT marketplace. This platform allows AI startups to mint NFT investment opportunities that can be fractionalized. This approach benefits both startups and investors. Startups gain access to fresh funding via the sale of reward and equity-based NFTs, while QUBE token holders gain the opportunity to invest in projects they trust.

WIF and NEAR are gaining traction in the market recently. Meanwhile, InQubeta is capturing investor interest with its interesting tokenomics, NFT marketplace, and presale. It offers a comprehensive solution for investors looking to explore the intersection of AI and blockchain technology.

For more information, visit the InQubeta presale or join the InQubeta communities.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Dogwifhat leads surge; Near and new AI altcoin draws interest - crypto.news