Ethereum

Rally

Bitcoin

<p>Bitcoin and Ethereum prices crashed in recent days; however, they have started to recover. To discuss this, VirtualBacon posted on X discussing the effect of the BTC and ETH market crashes on altcoins like Solana, Avalanche, and Polygon.</p>
<p><a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> crashed below $55,000 recently, dropping below the 21-weekly EMA and the 200-day EMA, which is a key market shift. The move also broke the short-term uptrend that has been in place since last August.</p>
<h2 class="wp-block-heading" id="but-is-the-bull-run-over">But Is the Bull Run Over?</h2>
<p>VirtualBacon doesn’t think the bill run is over. He mentioned that BTC has closed below the 21-weekly level in the past during mid-cycle corrections. One example was in August 2023, when BTC spent 63 days below this level before continuing to rally.</p>
<p>He also mentioned that the Bitcoin Rainbow chart cycle changes until halving. While Bitcoin remains below its all-time high after halving events. Bitcoin’s break below $54k has broken the pattern of higher highs and higher lows that started in October and could be the end of that pattern.&nbsp;</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="so-how-long-can-this-correction-last">So How Long Can This Correction Last?</h2>
<p>The previous mid-cycle corrections lasted for about 70 days. Based on this, Virtual Bacon mentioned that the correction that started around July 4 could continue till around September, which could also align with major events that could trigger a bullish spike.&nbsp;</p>
<p>Three Factors That Can Cause a Major Price Change at the End of the Year:&nbsp;</p>
<p>The first is a change of leadership in the US. Based on VirtualBacon, Gary Gensler and the Biden Administration have hindered crypto adoption. So far, betting markets have shown a major interest in Donald Trump winning the election, which could cause a major change in price.&nbsp;</p>
<p>Rate cuts could begin on September 18th, and the CME FedWatch suggests there is a high probability of consecutive rate cuts, which could lead to what the analyst regards as an 11-month bull market for high-risk assets.&nbsp;</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/heres-why-kaspa-kas-price-is-set-to-explode/" target="_blank" rel="noopener noreferrer nofollow">Here’s Why Kaspa (KAS) Price is Set to ‘Explode’</a></em></strong></p>
<p>Bitcoin and Stock market correlation is also a major factor to consider. Bitcoin price performance correlates with the NASDAQ and S&amp;P 500. The analyst thinks Bitcoin’s price will continue to rise as long as the S&amp;P is rising.</p>
<p>Bitcoin’s major dip is caused primarily by the selling action of the German action and Mt. Gox. However, major institutions like BlackRock are already buying the dip, and positive ETF inflows suggest that institutions are still confident about BTC.</p>
<h2 class="wp-block-heading" id="how-does-this-affect-other-altcoins">How Does This Affect Other Altcoins?</h2>
<p>VirtualBacon sees most altcoins dropping by 10 to 20%, and he advises accumulating strong assets like Ethereum and Solana.&nbsp;</p>
<p>They can also consider rebalancing into altcoins that are related to <a class="wpil_keyword_link" href="https://captainaltcoin.com/best-ai-crypto-projects/" title="artificial intelligence" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">artificial intelligence</a> (AI), gaming, meme coins, and other ones that are seeing retail adoption.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin and Ethereum are crashing! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>What does this mean for your favorite altcoins like Solana, Avalanche, and Polygon or the memecoins you yolo-ed into back in March? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>I’ll take a look at major BTC trading signal triggered and whether this marks the end of the bull…</p>— VirtualBacon <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f987.png" alt="🦇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f50a.png" alt="🔊" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@VirtualBacon0x) <a href="https://twitter.com/VirtualBacon0x/status/1811104925041983803?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>However, investors need to avoid older, underperforming assets and highly speculative altcoins until the market stabilizes.&nbsp;</p>
<p>The analyst will be accumulating more bitcoin around the $50,000 range. He will also buy other assets like Ethereum and Solana for between $2,200 and $2,600 and $100 and $110, respectively.&nbsp;</p>
<h2 class="wp-block-heading" id="how-to-know-when-the-bullish-rally-is-about-to-continue">How to Know When the Bullish Rally is About to Continue&nbsp;</h2>
<p>VirtualBacon mentions that a break above the 21-weekly EMA and a higher low are good triggers for a bullish rally.&nbsp;</p>
<p>So investors should stay patient until these things happen.&nbsp;</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/how-will-bitcoin-and-ethereum-crash-affect-avalanche-and-solana-btc-rally-will-finally-start-when/" rel="noopener noreferrer nofollow">How Will Bitcoin and Ethereum Crash Affect Avalanche, Solana, Others? BTC Rally Will Finally Start When…</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

How Will Bitcoin and Ethereum Crash Affect Avalanche, Solana, Others? BTC Rally Will Finally Start When…

Съдържание

CaptainAltcoin

Други статии, публикувани на 11.07.2024 г.

Crypto News Today: Crypto Gains Erased as Bears Take Control

MoonBag Presale Skyrockets to New Heights, While Brett and Stacks Struggle to Gain Traction

What Is Going On With Altcoins? Correction Is 'Understandable But Healthy,' Says Trader

PlayDapp Roadmap - Q3 2024

Best Airdrops for Passive Crypto Income

Europe Leads in Crypto Startups

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!