The cryptocurrency market is currently enduring a brief setback following the lawsuit filed against Binance and Coinbase. Market experts have explained that the downtrend will be short-lived, saying that Bitcoin and a new altcoin are primed for a price surge. In this article, we will discuss the reasons why experts have predicted a price surge for Bitcoin and the new altcoin Tradecurve.
Bitcoin (BTC), the flagship cryptocurrency, started the year with good bullish momentum, peaking at $30,800 from an opening price of $16,530. While slowed down in the second quarter, the last two days have been bearish, as the price of Bitcoin was forced under $26k as two of the biggest crypto exchanges, Binance and Coinbase were hit with lawsuits from the SEC.
Several experts have predicted that despite the recent downtrend, Bitcoin is still primed for a surge in 2023. Confirming this, market expert, Kevin Svenson explained that Bitcoin's moving average convergence divergence (MACD) indicator has crossed the daily timeframe – a signal for a long-term bullish outbreak.
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In addition, the United States Congress has reached an agreement to raise its debt ceiling and remove tax on energy consumed by crypto miners – further encouraging the crypto community to grow. When the price of Bitcoin recovers from the recent sell-off, we could begin to see some of these predictions come into play.
To start, Bitcoin would need bullish momentum to reclaim the $27,400 support from its current price of $26,150. When Bitcoin clears this resistance, then the bulls will look to retest the $30,000 resistance before entering a clear path from $32k to $40k.
While the Bitcoin rally will cut across the entire cryptocurrency market, experts have identified Tradecurve (TCRV) as an altcoin with the potential to outperform the market. The reason for the bullish remarks about Tradecurve is that the platform will introduce features that could transform the cryptocurrency trading space.
Currently, cryptocurrency traders need to open multiple accounts with platforms offering trading of forex, commodities, options, stocks, and ETFs to be able to access them. This new platform is bringing an effective solution to this by creating a decentralized all-inclusive platform where traders will need only one account to access and trade all these financial instruments.
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As the idea sounds alluring, experts have predicted that many traders from within crypto and the financial markets will leave their current platforms to Tradecurve because it offers an easier way of keeping track of their portfolios.
As more traders join Tradecurve, experts have predicted that its native utility token, TCRV, will experience a price spike of up to 50x during its presale and up to 100x when the platform launches. For now, investors have a great chance to join Tradecurve early as the token now sells for just $0.015.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.