Bitcoin (BTC) faces an uncertain rebound, whale movement sends Ethereum (ETH) lower, and Furrever Token (FURR) offers up to 15x returns.
JP Morgan cautions against rally expected after Bitcoin halving
As the cryptocurrency community prepares for this year’s Bitcoin halving event scheduled for around April 19-20, JPMorgan has released a less optimistic forecast. Unlike the significant price surge following previous halvings, the banking giant predicts that not only will Bitcoin fail to rebound, but it could potentially see its value fall.
In the past, Bitcoin halvings were pivotal moments that typically led to bullish market action. This process involves halving the rewards for mining Bitcoin transactions, thus reducing the rate at which new Bitcoins are created. This mechanism acts as a counter to inflation within the Bitcoin ecosystem. Historically, these events have significantly increased the market price of cryptocurrencies within a year of occurring. For example, after the 2012 halving, the price of Bitcoin rose from $12 to $135 over the next 300 days.
But this year’s scenario presents a unique backdrop. According to JPMorgan’s analysis, current market conditions are “overbought.” Bitcoin’s price, hovering around $61,200, is well above $45,000 when adjusted for volatility compared to gold. This higher baseline, combined with the highest price reached a month before a halving for the first time in Bitcoin history, suggests a different outcome could unfold this time.
In addition to its cautious outlook, Goldman Sachs also recommended caution. The company highlighted the unpredictable macroeconomic factors currently at play, which could impact Bitcoin’s performance differently than in past cycles. Despite the previous pattern of price increases following the halving, Goldman Sachs cautioned against assuming a similar outcome this year given the stark global economic situation.
These tempered expectations signal a significant shift in sentiment among financial giants regarding the behavior of cryptocurrency markets following the halving. As the event approaches, the cryptocurrency community and investors are watching closely for a variety of possible departures from historical norms.
Ethereum price volatility continues as ICO whales offload significant ETH holdings.
The Ethereum market is currently experiencing increasing volatility, with the price down 4% due to larger cryptocurrency market movements. The drop sparked a wave of speculation about Ethereum’s future price movements.
At the heart of the current market instability is the activity of ICO whales, which have significantly reduced their holdings, selling 2,000 ETH for 6 million USDC at $2,997 each. This move comes after additional transactions in which the same whale offloaded 5,110 ETH on various platforms, at a price per ETH of approximately $2,545. Despite this massive sell-off, whales still hold about 29,700 ETH, currently worth about $89.4 million, mostly held on staking platforms.
Adding to market jitters, Whale Alert indicated that more Ethereum was moving to exchanges. Specifically, an unknown wallet transferred 10,806 ETH worth approximately $32.13 million to Coinbase, which then transferred 10,726 ETH worth approximately $31.9 million to the same exchange.
This substantial move on major exchanges like Coinbase is raising alarms about the potential for further increase in price volatility for Ethereum. However, even amid these concerns, some analysts remain cautiously optimistic, driven by positive developments such as the recent approval of Bitcoin and Ethereum ETFs in Hong Kong, which could signal a rebound or stabilization in the market.
Moreover, as the cryptocurrency community looks forward to the upcoming Bitcoin halving event, there are expectations that this may spur positive movement in the Ethereum price.
As the situation unfolds, the current trading price of Ethereum is $2,978.31, down 3.45% from the previous day, and trading volume has increased 10.77% in the last 24 hours. Nevertheless, the price of Ethereum fell 16% compared to last week and 18% last month, highlighting the continued uncertainty and speculative nature of the cryptocurrency market.
Furrever token emerges as a strong competitor to existing cryptocurrencies.
In the competitive world of cryptocurrency Perlever Token (fur) is carving out a niche with its current price of $0.000564 and promising features that could potentially outperform major players such as Solana (SOL) and Toncoin (TON). What sets Furrever Token apart is its unique appeal, rooted in the universal love of cute cats, with the goal of providing users with a fun and engaging experience.
The appeal of the Furrever token goes beyond its cat-themed aesthetic to include a variety of stickers, emojis, and visuals that enhance the user interface. This strategy not only enriches the community experience, but also strengthens bonds between members, creating a warm and inclusive environment.
Operating on the BNB-20 blockchain, the Furrever token is designed with favorable token economics. Approximately 65% of the tokens were offered during the presale, with the remainder split between the decentralized exchange (DEX) and the development team. This deployment strategy promotes fairness and ensures project longevity and stability.
Financially, Furrever Token is not just about novelty. It offers significant return potential, boasting returns of up to 15x, highlighting its appeal as an investment. To protect the platform and user investments, the tokens have undergone rigorous audits, highlighting our commitment to security and compliance.
The project’s commitment is further evidenced by active community participation and transparent communication – important factors that contribute to increasing its legitimacy and attractiveness as an investment.
The Furrever token continues to develop and gain traction in the cryptocurrency market, positioning itself as a compelling alternative to well-established cryptocurrencies such as Solana and Toncoin with its innovative integration of fun elements and serious financial prospects. With strong community support and unique features, the Furrever token is poised to make a significant impact on the future landscape of cryptocurrency.
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Disclaimer: The information provided in this press release is not an investment recommendation and is not intended as investment advice, financial advice or trading advice. We strongly recommend that you practice due diligence, including consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.
