In light of the instability in the cryptocurrency market, discussions are ongoing regarding potential declines in Bitcoin and the prospects for altcoins like VET Coin.
Expected Decline of Bitcoin
A decline in Bitcoin's price is anticipated due to current news and geopolitical tensions. For example, Putin's statements and threats of secondary sanctions against China add uncertainty. Additionally, the situation with low oil prices and the upcoming Fed meeting contribute to price fluctuations. Historical trends suggest Bitcoin may experience downturns prior to Fed meetings.
Prospects for VET Coin and Altcoins
Bitcoin's market dominance is expected to decline, while ETH/BTC may exceed 0.033, signaling the onset of an altcoin rally. Although this scenario may seem straightforward, constant near-misses can be frustrating for investors. The success of this outcome may depend on the results from yesterday's Fed meeting and the forthcoming figures on inflation and employment in the U.S.
Analysts' Comments
Some analysts are observing positive signals. For example, analyst Moustache noted that ETH/BTC has regained its position in the Gauss Channel after 5.5 years. Analyst Michael Poppe expressed confidence in VET Coin. According to him, the decrease in VTHO inflation may positively impact VET Coin prices, indicating that 'a mild downward correction takes liquidity on both sides and reduces volatility before the next rise.'
The current situation in the cryptocurrency market is complex and unpredictable, but analysts' opinions provide hope for further developments in both Bitcoin and altcoins.
