Crypto Analysts View on Bitcoin (BTC), Dogecoin (DOGE), and Ocean Protocol (OCEAN)
A popular crypto analyst is examining Bitcoin (BTC) and delving into details about two prominent altcoin projects. Rekt Capital, a crypto analyst with a large following on the social media platform X, is explaining that history repeating itself could lead to varied outcomes for BTC in the months ahead.
There are two potential scenarios for Bitcoin: historic sideways movement continues until two months before the Halving, or a deeper retracement is seen leading up to the Halving in 2024.
When Bitcoin undergoes a halving, the reward for mining new Bitcoin reduces by 50%. The next halving event is expected to take place in April 2024. Currently, BTC is valued at $36,024, marking a 3% decrease over the last week.
Switching gears to Dogecoin (DOGE), Rekt Capital notes that the top memecoin has broken out to the upside. DOGE has seen an increase of over 50% since the Channel Bottom, indicating a confirmed breakout from its channel. At the time of writing, DOGE is valued at $0.0801, marking a 9% increase over the past seven days.
Lastly, Ocean Protocol (OCEAN), a project designed to facilitate access to and monetization of data using AI, is showing signs of retesting the local area as support. Rekt Capital emphasizes that prolonged price stability should precede an upside to $0.48. As of now, OCEAN is trading at $0.395, marking a 7.3% decline for the day.
Hot Take – Analyst’s Insights on Bitcoin (BTC), Dogecoin (DOGE), and Ocean Protocol (OCEAN)
The crypto analyst is sharing valuable insights into the current and potential future performances of Bitcoin (BTC), Dogecoin (DOGE), and Ocean Protocol (OCEAN). With Bitcoin facing the possibility of repeat historical patterns, the crypto market is watching closely to see how these scenarios unfold. Whether you’re interested in the long-term or short-term, these insights help shed light on potential market movements and investment opportunities.
Featured Image: Shutterstock/betibup33
By
By
By
By
By