Trent Rhode
Despite being down 75% since November 2021’s all-time high, Bitcoin and the cryptocurrency market as a whole are far from dead. Now that the euphoria has died down, the market has leveled off, and crypto prices are much lower, investors may have an opportunity to buy in at a much lower cost.
It’s also worth noting that the adoption of cryptocurrencies is growing each day. Institutional investors are continuously entering the market, which is driving higher liquidity and accessibility.
Plus, with many nations facing economic uncertainty due to Covid-19, the idea of cryptocurrency being an alternative to fiat currency is being taken more seriously.
Given all this, it’s quite possible that the crypto market could be nearing the bottom of its bear cycle and ready to start its next major surge upwards. However, strong caution is warranted and investors should never go all in abruptly on any asset given the possibility of more market pullbacks.
Bitcoin Technical Analysis and Crypto Price Prediction
Since the market typically follows Bitcoin closely, an analysis of Bitcoin itself is a good place to start when considering crypto price movement in general. Trading at $16,950 as of writing, the price of Bitcoin is currently at the monthly EMA100 support. With potential stop-loss levels clearly defined and relatively easy to cut, this could be a good time for long-term investors to buy in with the price being stable and trending upward for the last few weeks.
Going further into technical analysis, we can observe that the monthly RSI40 has never been broken and the price has been bouncing from previous market bottoms when the RSI is around this area. However, if a breakdown of $15,400 and monthly RSI40 occurs, a drop to $14,000 support is highly likely.
#Bitcoin x CCO ✍️
Cycle Channel Oscillator is flashing Buy signal!
Everytime the indicator goes below the red zone ,
it has marked the bear market bottom & has been a perfect area to DCA $BTCRT APPRECIATED#crypto #BTC pic.twitter.com/fN2u3tgxVA
— Mags (@thescalpingpro) November 27, 2022
As always, investors should be careful and set trailing stop losses while diversifying portfolios and buying into projects only if they have strong fundamentals. Some alternative options to consider buying into on the ground floor include D2T, TARO, and RIA.
Top altcoins to consider in this bear market
Dash 2 Trade (D2T)
Dash 2 Trade is an upcoming social trading platform that plans to change the crypto landscape. With features such as signals for profitable trades, sentiment tools, and blockchain analysis indicators, Dash 2 Trade will make it easier for investors to get involved in the crypto market.
Other features include a pre-sale token scoring system to evaluate investments, an alert system to keep track of new listings, as well as strategy backtesting tools – all of which aim to help traders make more informed decisions when investing in cryptocurrency.
The Dash 2 Trade platform can be fully unlocked by the D2T token, with users able access different features after purchasing and holding the tokens. Currently, Dash 2 Trade is conducting a pre-sale which has so far amassed nearly $7.8 million, and it’s about to enter its fourth phase where the price for a presold token will be raised from $0.0513 to $0.0533.
RobotEra (TARO)
RobotEra is a crypto metaverse project that aspires to provide users with better graphics and gameplay than Decentraland and The Sandbox, along with more engaging gameplay mechanics and opportunities for income. RobotEra will feature a range of games that players can earn rewards from, as well as player-versus-player games.
RobotEra’s pre-sale of TARO tokens has so far raised over $326,000 and the price per token will soon jump from $0.020 to $0.025 in stage 2 of the presale.
Calvaria (RIA)
Calvaria is a game that allows players to collect, trade, and battle with NFT-based cards. In addition to incorporating play-to-earn features, it will also enable users to play without holding any cryptocurrency. Since crypto can be intimidating for newbies, this could make Calvaria more popular than other blockchain games out there.
RIA will have a variety of in-game uses and can also be staked, providing users with a strong incentive to hold onto the token. The presale has so far raised $2.2 million USDT and is now in Stage 5, its final stage.
Related:
- Solana Price Prediction – SOL Losing Value near $13.50, Will it Ever Recover from FTX Association?
- Coinbase Defies Apple’s 30% Tax And Disables NFT Transfers On iOS App
- Sustainable Crypto Will Revolutionise Carbon Credits Industry And Deliver 10x Gains
Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
- Solid Proof Audited, CoinSniper KYC Verified
- Trading Community of 70,000+ Members
This article was written for Business 2 Community by Trent Rhode.
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