Bitcoin seems to be in the spotlight again, although it’s not for entirely positive reasons this time. Two crypto analysts have predicted opposite prospects for Bitcoin (BTC) and the altcoin Celer Network (CELR).
While crypto experts ponder over Bitcoin’s future, it might be time to focus our attention on another mineable, proof-of-work project. Not only is BlockDAG (BDAG) having a monster crypto presale, but it’s also releasing a line of ASIC miners to celebrate.
Bitcoin Faces Possible Price Correction
Benjamin Cowen, a YouTuber and cryptocurrency expert, has warned that Bitcoin (BTC) might go through a drop similar to the one that occurred in 2019. Referencing a certain price pattern that preceded the 2019 drop, he believes that Bitcoin may experience a substantial decline if a similar pattern materialises.
Cowen points out that a local high for Bitcoin might happen roughly one month ahead of a prospective Federal Reserve rate cut. The analyst admits that there is uncertainty on when a rate cut would occur, with estimates varying from January to March 2024.
CELER Network is a Potential Breakout Candidate
A bullish scenario is anticipated for several cryptocurrencies, including Celer Network (CELR), Chainlink (LINK), and THORChain (RUNE), according to cryptocurrency expert and trader Kaleo. According to Kaleo, CELR might emerge from its accumulation phase and possibly hit $0.0700.
Furthermore, the trader expects LINK to rise during consolidation and RUNE to rise above $8. Kaleo is bullish on the whole crypto market in 2024, citing the increase of Solana, Avalanche surpassing $50, Bitcoin approaching $50,000, and different altcoins exhibiting signs of activity.
BlockDAG Coin Launches Crypto Mining Rigs Amid Presale Success
BlockDAG, an upcoming project, has revealed its X-series mining equipment, coinciding with an ongoing successful crypto presale that raised $1 million in 24 hours. These mining machines are designed to be speedy and lucrative for users, rewarding users with BDAG coins as passive income.
The X-series mining machines address many of the issues associated with ASIC mining, being built with noise insulation and energy efficiency. Mining can be done from the comfort of your smartphone, or you can invest in a more expensive rig that rewards you up to 25,000 BDAG coins daily. BlockDAG is set to be the most ambitious crypto project of 2024, so be sure to check out the presale and invest before it goes away.
Caution and Optimism in the Crypto Market
The crypto community is optimistic, but caution is advised. Analysts point out past trends to suggest that Bitcoin may be due for a correction. Regarding altcoins, CELER Network stands out as a potential breakout contender, with analysts aiming for noteworthy price targets. BlockDAG’s foray into the mining market adds another dimension to the crypto industry, proving to the public that creativity and innovation are built into the industry.
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