The week was significant for cryptocurrency markets, but the anticipated outcomes for April 2nd didn’t materialize. Bitcoin hovers below the crucial threshold of $86,000, with trade volumes expected to further weaken as the weekend approaches.
Is Bitcoin’s Decline Unending?
While closing above $82,000 seems a lesser evil, the appetite for risk among altcoins remains weak. Investors avoid entering the market, with Ethereum struggling to maintain even $2 amidst fluctuations. DaanCrypto highlighted a significant risk: Bitcoin is not in a safe zone, potentially leading to a significant decline or a major rally.
Expectations in Cryptocurrency
Altcoin Sherpa previously noted an expectation for cryptocurrencies to rally, which did not materialize. He now claims BTC’s price will soon revisit $90,000. This movement could yield rapid gains in altcoins poised for an upswing, but the risk of a drop to $75,000 still looms.
Expert Comments
Altcoin Sherpa commented on altcoins, noting that most memes have collapsed but believe they will recover to some degree. Coins like BONK, after an 85% plummet from its peak, could be a good investment.
The cryptocurrency market remains volatile, with Bitcoin struggling to break crucial levels. Experts continue to analyze potential scenarios for the market's future.
