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In this article, we answer the question on every investor’s mind: Bitcoin Has the bottom been seen? The crypto king has been on the rise this year. But is it safe to say that the bear market is over? We take a look at what analysts are saying about the future of Bitcoin.
Additionally, Decentraland (MANA) and Meme Moguls We will also cover the current trends of two lesser-known cryptocurrencies such as (MGLS). Decentraland (MANA) is in a downward trend, and if it can be successful, Meme Moguls (MGLS) may increase in value in the coming years. (there is a risk)
Bitcoin (BTC): Setting the Stage for New Highs
“Bitcoin Bottom” refers to the level at which the price of the cryptocurrency reaches its lowest point. A “bottom” is important to investors because it limits risk and allows them to achieve the greatest returns.
Bitcoin’s decline after the peak in 2021 has led to speculation in the crypto community about when the bottom will occur. Indicators and expert analysis indicate that Bitcoin’s definitive bottom could reach $15,400 in November 2022.
According to some bears, BTC could bottom at $12,000 or lower. However, it is hard to deny the bullish momentum building in the market. Bitcoin has gained 142% since November 2022. In this context, it reached its current price of $37,450. To go lower now would require a black swan event and a major fundamental economic change.
Spot Bitcoin ETF applications are one of the most important developments. The SEC’s spot ETF decision will be announced by January 10, as expected for the ARK ETF application.
If the ETF is approved, it will undoubtedly bring a new wave of institutional money to the crypto market and validate Bitcoin as a legitimate asset. This could potentially lead to a large increase in demand. In this context, it could solidify November 2022 as the bottom.
Decentraland (MANA): The Need for Adoption
As Bitcoin rebounds from bear market lows, others crypto- currencies continue to face downward pressure. Decentraland is one of the cryptocurrencies that has been trending downward since the market crash in 2022.
Decentraland was previously riding high on metaverse hype, with investors eagerly purchasing virtual land in the project’s decentralized world. This excitement has led to a market cap of over $9 billion and a MANA token price of over $5.
However, the metaverse hype disappeared as quickly as it appeared. Additionally, Decentraland’s token price has fallen to the current price of $0.46, making it one of the worst-performing cryptocurrencies in the last two years.
The Decentraland chart is showing signs of hope, with the price breaking out of a descending triangle that has kept the price down for the better part of a year. The next key level for Decentraland to clear is above the $0.50 resistance.
But whether Decentrland can truly come back depends on how many people use its virtual world. Data from DappRadar revealed that fewer than 1,000 people use Decentraland per day. This is a far cry from the millions of users needed to bring real-world value to the platform.
Meme Moguls (MGLS) Will Revolutionize the Meme Trading Market
It’s time for the $17 billion meme coin market (by market cap) to be taken seriously. Meme Moguls (MGLS) aims to do just that by giving meme fans a place to buy and sell their favorite memes on the blockchain. Platform users can channel their inner Musk to become meme moguls and make huge profits from their creations if the project proves successful.
But Meme Moguls is more than just a platform for buying and selling memes. It also aims to be a social network where users can share, comment and like others’ memes. With the rise of meme culture, it’s easy to see the potential for Meme Moguls to rise.
Meme Moguls is not a typical exchange that offers nothing more than a cold list of numbers. Joining this platform means entering a vibrant community of meme enthusiasts and knowledgeable traders. In this space, members share their insights. Additionally, they analyze trends and leverage their collective wisdom to profit from the ever-changing meme market.
The Meme Moguls platform offers the Moguls Exchange Trading Platform and even a metaverse called Mogul Land to engage and entertain the community. The MGLS token serves as a medium of exchange for all these features. In this context, it rewards users for participating.
MGLS tokens can be purchased before the platform launches through the ongoing pre-sale. While the first phase is just beginning, $0.0019 The entry price is the lowest ever. The price is set to increase with each new stage. Therefore, early investors have the potential to make significant gains (there is risk). According to the team, at the end of each pre-sales phase, they hire an investor. $10,000 will reward you with.
Analysts expect MGLS to launch before pre-sale ends If it can be successful, if there is a chance, 1,000% He is of the opinion that the rate will increase. Additionally, he predicts that he will earn more if he can be listed on the stock exchanges. There’s no telling where Meme Moguls (there’s a risk) will take you, as the first Pepe buyers turned $250 into $1.02 million in four days.
You can visit Meme Moguls.