Crypto Market Crash: Top Altcoins Might See 30% Drop in Next 10 Days, Here’s Why
When to Buy Bitcoin and Altcoins?
The cryptocurrency market is experiencing a downturn today. Bitcoin (BTC) has dropped to $65,000, and Ethereum (ETH) is also showing signs of weakness. Most altcoins are following this trend, although XRP is an exception and is trading positively.
Bitcoin and Ethereum's Struggle
Bitcoin has fallen to $65,000, signaling a significant drop. Ethereum, too, is showing a pullback, indicating a broader market decline
Altcoins and Meme Coins
Altcoins like Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB) have also dropped, with DOGE and SHIB seeing significant dips of 9%-13%. However, XRP is bucking the trend and trading in the green.
Market Cap and Volume Changes
The global crypto market cap has dropped by 3.14%, down to $2.35 trillion. Interestingly, the total crypto market volume has surged by 104.01%, reaching $94.07 billion. This increase comes amidst significant outflows, influenced by the U.S. Federal Reserve's recent actions.
A Volatile Week
This week has been especially volatile for the crypto market. While Red Coin (RWE) reached new highs, most altcoins are showing signs of weakening after a strong year. The hype around meme coins and recent announcements from the Federal Open Market Committee (FOMC) have added to the market's unpredictability.
The Impact of Meme Coins
Meme coins like DOGE and SHIB are having a noticeable impact. In a recent podcast, Crypto Banter discussed how these coins are drawing investments away from more serious projects. The analyst suggested that the market might need to move away from meme coins to allow projects with real-world applications to succeed.
Want to Know More? Curious about when to buy Bitcoin or altcoins? Click below to read the detailed information.
Also Read
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