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Analysts predict another Bitcoin price dump; Milei Moneda presale sees record surge in new investors

Saturday, April 20, 2024 01:00 PM | Invezz via QuoteMedia

Analysts predict another Bitcoin price dump; Milei Moneda presale sees record surge in new investors

2024-04-20 13:00:00 ET

The number one cryptocurrency by market cap, Bitcoin, remains one of the top crypto coins to invest in. However, despite attaining a new ATH value in 2024, it has undergone a correction, with analysts expecting another price dump. Meanwhile, Milei Moneda steals the show with its presale as investors lean on the coin as the best cryptocurrency to invest in.

Bitcoin BTC likely to experience another price dump

CryptoQuant analysts have revealed that Bitcoin’s (BTC) price may undergo another correction despite recovering strongly from its recent drop.

In Monday’s community post, GAAH, a Bitcoin and Ethereum trader, revealed that the current bullish sentiment experienced by the market may be becoming too hot with respect to perpetual futures market information.

The analysts indicated that Bitcoin’s average 30-day funding rates remain high, even after experiencing its recent price dip. This present level is similar to that when BTC attained its ATH in 2021, which has now become the digital asset’s “greatest resistance ever.”

Late 2022 was the last time BTC’s funding rates stood in an equally significant bearish stance when BTC’s price was only a quarter of what its value is today.

Since then, Bitcoin has seen multiple short-term corrections of about 20%, though it’s yet to achieve a funding premium like today.

The rapid rise of Bitcoin has prompted many retail investors to start cashing out their gains. The SOPR (Spent Output Profit Ratio) for short-term hodlers reached the “extreme greed” levels in March, and it has just retreated to take a more neutral position.

Milei Moneda ($MEDA) is a top crypto to buy seeing influx of investors

With the Crypto market booming, more meme coins are emerging every day, and investors are keeping their eyes on the best crypto to invest in. Milei Moneda is an attractive investment opportunity for both novices and experts in the crypto space.

Adopting a deflationary mechanism, the value of $MEDA will continue to appreciate as its overall supply diminishes. This helps to ensure the scarcity of $MEDA while its value appreciates.

With a focus on building a vibrant community of dedicated members, Milei Moneda ensures community engagement and governance.

In contrast to other meme coins hindered by scalability issues and tax problems, $MEDA operates on 0% taxes. This helps to ensure minimal trading fees, making it the best crypto for beginners.

Milei Moneda demonstrates how meme coins can be effective marketing tools in the crypto world. One of the notable benefits of $MEDA is the potential to generate substantial returns for investors.

Unlike other meme coins that thrive on internet hype, $MEDA’s emphasis on community engagement and partnership with influencers indicates its dedication to long-term viability.

Presently, in Stage 2 of the public presale, $MEDA tokens are being sold at a price of $0.0125. The value of $MEDA is expected to increase to $0.015 in Stage 3. The meme coin is expected to launch on major exchanges at a price of $0.020. With its performance and capability, Milei Moneda could be the best crypto to invest in.

Got $MEDA curiosity? Visit us or chat on Telegram for the inside scoop. Fast, fun, and informative!

The post Analysts predict another Bitcoin price dump; Milei Moneda presale sees record surge in new investors appeared first on Invezz

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