Bitcoin

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<p>The post <a href="https://coinpedia.org/price-analysis/crypto-market-prediction-2024-bitcoin-eyes-slight-pullback-while-low-cap-altcoins-set-for-100x-gains/">Crypto Market Prediction 2024: Bitcoin Eyes Slight Pullback While Low Cap Altcoins Set for 100x Gains</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>A widely followed crypto analyst reveals critical trends in the altcoin cycle this year but notes that there may be a pullback first.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-will-the-btc-price-pull-back-from-49k-to-40k"><strong>Will the BTC Price Pull Back From $49K to $40K?&nbsp;</strong></h2> 
<p>In a new <a href="https://www.youtube.com/watch?v=z8_3IFfT4rI">video </a>update, Nicholas Merten, the host of DataDash, tells his 511,000 YouTube subscribers that key indicators suggest a steep correction in Bitcoin after the ETF launch, acknowledging the pullback from 49k to 40k. Despite concerns, he highlighted Bitcoin’s resilience, emphasizing that the post-ETF launch has gone well regarding price action. </p> 
<p>Merten suggested that, even if there’s a chance of a pullback to the 100 or 200-day moving averages, Bitcoin’s ability to hold up signals a more mature trajectory, potentially less volatile than in the past.</p> 
<blockquote class="wp-block-quote"> 
 <p><strong><em>“He’s happy with how well his Bitcoin predictions for 2023 played out. He’s surprised by the market’s strength. Looking ahead to 2024, expects a small drop of about 15% soon, which he sees as a normal correction, especially as the stock market reaches higher points.”</em></strong></p> 
</blockquote> 
<h2 class="wp-block-heading" id="h-changing-altcoin-dynamics-a-make-or-break-event-nbsp"><strong>Changing Altcoin Dynamics, A Make or Break Event?&nbsp;</strong></h2> 
<p>His analysis focused significantly on the changing dynamics in the altcoin market. Merten pointed out a notable trend of large-cap cryptocurrencies like Ethereum, BNB, and XRP facing continued weakness. He emphasized recognizing a “Changing of the Guard,” where smaller altcoins outperform, making multi-hundred percentage return moves. He further cautioned against traditional large-cap plays, suggesting a shift towards smaller, innovative projects with higher growth potential.</p> 
<p>Merten also challenged the current sentiment that large-cap cryptocurrencies lack exciting applications and innovation. He urged his viewers to look beyond the mainstream and explore smaller projects addressing real-world problems. He emphasizes the need for a shift in focus toward projects providing new solutions and applications rather than relying on brand names.&nbsp;</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="Bitcoin, Altcoin &amp; Stocks | Something BIG Is Happening In 2024..." width="1220" height="686" src="https://www.youtube.com/embed/z8_3IFfT4rI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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Crypto Market Prediction 2024: Bitcoin Eyes Slight Pullback While Low Cap Altcoins Set for 100x Gains

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