The cryptocurrency market continues to show volatility amidst recent geopolitical events, with expert opinions regarding future market movements.
Market Status
Amid market instability, Bitcoin ([BTC](https://en.bitcoinhaber.net/exploring-bitcoins-potential-for-major-price-movements)) briefly dipped to $117,180 before rebounding to $118,500. Cryptocurrencies like ADA and [AVAX](https://en.bitcoinhaber.net/avalanches-stablecoin-surges-as-market-value-hits-1-15-billion) are also showing gains of up to 3%. This turbulence occurs alongside expectations of a meeting between former US President Trump and Russian President Putin, which may inject further volatility into cryptocurrency markets.
Forecasts for HYPE and INJ Coin
The altcoin HYPE has caught the attention of well-known crypto expert Altcoin Sherpa. Having shown remarkable growth during the DeFi boom in 2021, HYPE maintains its appeal. Sherpa offers an optimistic outlook for this altcoin.
> "When the market is volatile and uncertain, money turns to quality. And I think nothing beats HYPE. HyperLiquid charges huge transaction fees and still remains one of the best platforms to trade on, period. I still have a small position and trade there regularly. Although I believe most returns are done during this period (I still believe so), I think it will go over $75 in the future."
Sherpa’s projection of HYPE reaching $75 could present an attractive opportunity for investors buying at current prices. Ali Martinez’s analysis of INJ Coin hints at an impending correction before it potentially soars to $28, translating to a near 100% increase.
Future of Bitcoin
With BTC’s price climbing to $119,361, market eyes are on Trump’s impending statements about Putin. Announcements of a second meeting may suggest progress towards peace, but if this meeting is canceled, expect a rise in oil prices and geopolitical tensions, potentially upsetting risk markets. This could herald a tumultuous weekend.
Bitcoin’s current stability at around $117,000 is viewed positively. However, Sherpa cautions that losing this support level could trigger a slide to $110,000, highlighting the risk inherent in the next few days.
> "Bitcoin is recovering well after the post-PPI panic. Price held the support level – the CME gap was filled by 75%, and the price is now above the 4-hour 50EMA. $120,000 continues to be the area to turn into a support level. If this happens, price discovery will be the next step."
Concrete insights from this analysis include:
* HYPE Coin’s optimistic trajectory could lead to substantial returns if it reaches the $75 mark. * INJ Coin, poised for a possible correction, targets a dramatic potential gain of nearly 100%. * BTC’s path forward depends on maintaining crucial support levels, with a key psychological target at $120,000.
The cryptocurrency market continues to evolve, and expert perspectives bring both anxiety and hope for traders. It's important to consider ongoing geopolitical developments and prepare for volatility while recognizing potential opportunities on the horizon.
