This year, there seems to be nothing stopping the bulls from propelling bitcoin prices higher. The negative headlines about the crypto market are piling up, but Bitcoin and most other top coins are still trading significantly higher than at the turn of the year, when the mood was not so tense. After the US Securities and Exchange Commission and the US Federal Reserve have put pressure on the digital currency market in the last 2 weeks, there is another rapid comeback. Blackrock’s application for a Bitcoin ETF is likely to be partly responsible. yPredict ($YPRED) and Wall Street Memes ($WSM) are also strongly bullish.
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Just a few days ago, it looked like Bitcoin would go down significantly further. After the SEC had already caused a sharp slide in prices with lawsuits against Binance and Coinbase, Fed Chairman Jerome Powell did it again by preparing investors for the fact that interest rates will probably have to be raised at least twice in the near future and then would remain at a high level for a few years. The interest rate cuts that many had been expecting for the end of the year are now a long way off.
The result was that the Bitcoin price, which has already exceeded the $31,000 mark this year and has risen by around 80% since the turn of the year, has fallen to below $25,000. However, it didn’t take long for the largest cryptocurrency by market capitalization to recover this time either. Blackrock’s application for a Bitcoin ETF is likely one of the reasons for the quick recovery.
Blackrock is the largest wealth manager in the world and while the timing could have been better as the SEC has just filed lawsuits against the largest cryptocurrency exchanges, it shows that the mass adoption of cryptocurrencies is progressing, which is highly bullish for the price over the long-term should. Whether approval is actually granted is of secondary importance, since the mere application of a company like Blackrock for such a project creates trust in Bitcoin among many investors.
As a result, Bitcoin has gained around 3.5% in the last 24 hours alone and is now trading again at $26,486. The entire crypto market reacts accordingly, rising by more than 3% over the same period. This brings the largest cryptocurrency by market cap back to more than $513 billion in total value and claims more than 48% of the total digital currency market. This year there doesn’t seem to be much to push the price back down to last year’s low of around $17,000.
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The fact that bad news can no longer have such a strong and lasting negative impact on the price as it did a year ago can also be seen as strongly bullish. In addition to Bitcoin as the leading digital currency, many other coins are also showing a strong bullish trend. Wall Street Memes ($WSM) and yPredict ($AI) in particular are currently causing a stir on the market.
Wall Street Memes Surpasses $8 Million
At least since the success of Pepe Coin, which has risen to a market capitalization of more than $1.8 billion within a few weeks, investors have been looking for the next x100 – x1,000 coin in the meme coin space again. There are many contenders, however, it seems Wall Street Memes ($WSM) have the best qualifications for this position.
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The team behind $WSM made a splash in the crypto space back in 2021 after launching the Wall Street Bulls NFT collection, which sold out in minutes and raised millions. Now the team is launching a coin and has an incredible community of more than a million followers on social media even before launch. With that, $WSM has everything it needs to generate some post-launch hype. $WSM is currently still available in presale and has already brought in more than 8 million dollars in a short time.
yPredict relies on artificial intelligence for crypto forecasts
The hype about AI is unbroken and while there is still disagreement in many areas, at least we know that collecting and analyzing huge amounts of data is one area where artificial intelligence is unbeatable. That’s what the team behind yPredict and has trained its own AI with countless chart patterns and information about crypto trading. This now recognizes when there are entry or exit opportunities for a coin, based on numerous indicators that are important in chart technology.
Here you go directly to the yPredict website.
The service will be available in one free and two premium models, with the premium models being settled with the $YPRED token. This gives it its value and as soon as the platform prevails, when traders get through yPredict get better results, it shouldn’t be long before the $YPRED price surges sharply. $YPRED is currently still available in the pre-sale and for everyone who gets involved in the current pre-sale phase, there is already a book profit of more than 30% by the start of trading on the crypto exchanges, since the price will be raised several times before the start.
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About the author: Manuel Lippitz has been an entrepreneur and investor for several years. After founding a number of successful companies, investing in a wide variety of assets became increasingly important to him. On his real estate blog he writes about life as a landlord and with the commissioning of his first own mining stations in 2020, he increasingly focused on cryptocurrencies & NFTs and the opportunities that come with them.
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