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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-warning-as-major-currencies-face-correction-threats" rel="noopener noreferrer nofollow">Crypto Warning as Major Currencies Face Correction Threats</a><br></p>
<p style="text-align: justify">Notable cryptocurrency figure, Captain Faibik, has sounded alarms over an impending correction phase for key digital currencies <a href="https://en.bitcoinhaber.net/bitcoin-user-accidentally-pays-3-1-million-commission-fee-for-a-single-transaction" rel="noopener noreferrer nofollow">Bitcoin</a> and Ethereum. He suggests that Bitcoin might have hit the zenith of its bullish run with a potential devaluation by half. Ethereum is not far behind, facing a possible 30% decline.</p>
<h2 id="what-does-the-bitcoin-chart-reveal">What Does the Bitcoin Chart Reveal?</h2>
<p style="text-align: justify">Faibik, in a detailed analysis on social media, showcased a Bitcoin chart unveiling a key development. A broadening wedge pattern, two years in the making, has been broken. Rates, after touching $115,000, have simmered down to approximately $105,000.</p>
<p style="text-align: justify">He notes this formation could trigger a plummet near $50,000, indicating a sharp mid-term contraction of about 49.6%. Profit-taking, spurred by this trend, is expected to increase as Bitcoin sits precariously above the $100,000 mark. A dip below could intensify selling forces.</p>
<p style="text-align: justify">Technical factors like the RSI and volume support his cautionary view. The wedge’s breach and increasing volatility have caused institutional players to reassess their holdings.</p>
<h2 id="will-ethereum-break-its-trend-line">Will Ethereum Break its Trend Line?</h2>
<p style="text-align: justify">Faibik highlights Ethereum’s dependence on a longstanding upward trend line as crucial support. The currency, having reversed from $4,000, hovers around $3,770. If this support wavers, a descent to $2,400 seems feasible.</p>
<p style="text-align: justify">The chart suggests a possible 37.4% fall. Such a drop could shift the market mood negatively, leading to a cautious approach by investors.</p>
<p style="text-align: justify">Tied closely to Bitcoin’s performance, Ethereum’s waning ETF inflows add to its woes. Breaking through trend supports might trigger a widespread wave of sell-offs.</p>
<h2 id="is-the-rise-of-memecoins-beneficial">Is the Rise of Memecoins Beneficial?</h2>
<p style="text-align: justify">On a related note, Faibik has put forth a thought-provoking critique of the burgeoning <a href="https://en.bitcoinhaber.net/can-token-burns-elevate-shiba-inus-value" rel="noopener noreferrer nofollow">memecoin</a> sector.</p>
<blockquote>
 <p>“To be honest, the market would be much healthier without the rise of memecoins. Since their emergence, we haven’t seen a true altcoin season. Focus has shifted from utility and fundamentals to hype, manipulation, and pure speculation. I’ve never been a fan of memecoins as I believe they’ve harmed the integrity of the cryptocurrency market. Instead of promoting innovation and real-world utility, the market has been filled with scams, greed, and short-term noise. Cryptocurrencies were created to revolutionize finance, not to turn into a scam casino,” Faibik expressed.</p>
</blockquote>
<p style="text-align: justify">In light of these assessments, consider the following implications:</p>
<ul>
 <li>A potential 50% Bitcoin decrease may lead to increased profit-taking measures.</li>
 <li>Ethereum risks seeing a 30% price cut should it breach its main support line.</li>
 <li>Investors might shy away, tilting towards safety if trends continue.</li>
</ul>
<p style="text-align: justify">As the market unfolds, these insights present a critical juncture for crypto enthusiasts to reconsider strategies. Staying ahead of these developments could provide a decisive advantage in navigating the unpredictable landscape of digital currencies.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/crypto-warning-as-major-currencies-face-correction-threats" rel="noopener noreferrer nofollow">Crypto Warning as Major Currencies Face Correction Threats</a></h5>

Crypto Warning as Major Currencies Face Correction Threats

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