Is Bitcoin Poised for a Fresh Bull Run? Traders are Poised to Buy BTC and These New Cryptos

Bitcoin (BTC) seems poised for a fresh bull run after a week of constant losses. As BTC warms up its engines, Wall Street Memes (WSM), Sonik (SONIK), and Launchpad XYZ (LPX) are also preparing for takeoff.

Last week’s flash crash sent Bitcoin below its long-held resistance level at $26,000, causing a mini panic in the market. However, the OG crypto promptly recovered and is once again trading above $26k. Not only that, but it has managed to gain almost 5% in the last 24 hours, inciting speculations about an imminent bull run.

Most analysts say that it is too early for such hopes, claiming that the market is still volatile and investors remain cautious. Regardless, we decide to examine those claims and see if they are founded or are just another set of Internet rumors.

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Is Bitcoin Poised for a Fresh Bull Run?

Bitcoin has had a rough week, suffering from the effects of a flash crash triggered by the FED’s decision to increase the benchmark interest rate to 5.25%-5.50%. Fed Chairman Jerome Powell seems insistent on bringing the inflation to 2% and to achieve that, he has enacted the highest benchmark interest rates in the last 22 years. As a result, all markets have gone through a correction as investors fled to more secure options like Treasury bonds.

The crypto market was hit hard, dropping 1.7% and wiping out almost $200 billion in value. All major cryptocurrencies took a hit, but BTC and ETH suffered the brunt of it. Still, BTC has managed to recover the losses and even gain almost 3%, compared to the price before the Fed’s announcement. Some were quick to proclaim this as a sign of an imminent bull run, but not everyone agrees with such predictions.

It does seem a tad premature to make such a prognosis, especially considering that the market is still reeling and investors seem hesitant to invest in crypto in this economic climate. Still, there are some indicators that can’t be ignored and must be taken into account.

Can BTC Rally in 2023?

Bitcoin has made some significant gains this year, gaining almost 80% since January 1st. Truth be told, its lowest point was on the heels of one of the worst crypto crashes in history, but an 80% rally in a few months is nothing to sneer at. The big question now is whether BTC can maintain that growth rate till the end of the year.

At that pace, the BTC price would be above $40,000, which is significant but doesn’t really count as a bull run, at least not in the crypto world. For that, BTC would need some massive gains that can only be achieved with the help of major whales. Once that starts happening, we can start talking about Bitcoin bull run.

However, smart investors won’t wait for that. Instead, they are opting to invest in new crypto projects that are promising massive gains. Tokens like WSM, SONIK, and LPX are among the most talked about cryptos at the moment, and for a good reason. Here is what you need to know about them.

Wall Street Memes Is Having a Record-Breaking Presale

One token that is benefiting greatly from the Bitcoin recovery and its expected bull run is Wall Street Memes, described by many as the next meme coin wonder.

With more than $25 million raised, Wall Street Memes is having one of the best ICOs of the year. The WSM presale is breaking records and creating a lot of hype, mostly due to a massive community behind it. Based around r/wallstreetbets, it is the same community that declared war on Wall Street last year over the GameStop short squeeze.

They have accepted Wall Street Memes as their badge of honor and are spreading the word about the token everywhere. The hype resulting from their actions has already pushed WSM presale way ahead of schedule and towards its first public listings. Once that happens, most experts agree that the WSM price will explode and send the token straight to the Moon.

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Sonik (SONIK) Offers a Unique Combination of Stake2Earn and Meme Coin

As Bitcoin rallies, a new meme coin enters the market. Sonik (not affiliated with SEGA or Sonic the Hedgehog) plans on becoming the fastest crypto to reach the $100 million market in history. Judging by the success of its presale, there are decent chances that it just may achieve that ambitious goal.

So far, Sonik has raised more than $750,000 in less than 10 days since the presale started. With a hard cap goal set at $2 million, there isn’t much time left to act and buy this incredible meme coin. Once the presale ends and SONIK hits the open market, all bets are off, as most analysts agree that it can easily pump 100x almost immediately. Some even go as far as to claim that Sonik can outperform Pepe Coin.

Sonik is one of those tokens you don’t want to miss, especially for people who missed out on Pepe and other successful meme coins from earlier this year.

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Launchpad XYZ (LPX) Offers A Unique Insight Into Market Trends

Launchpad XYZ is a comprehensive Web3 platform designed to help traders and investors find the next 10x trade opportunity. The app offers a unique insight into the inner workings of the crypto market and can help you discover the next crypto gem before it explodes.

The platform is powered by its native token LPX. Apart from transactions, the token also serves as a ticket to Launchpad XYZ and unlocks all advanced features the app has to offer. With the projected popularity of Launchpad XYZ, it can be expected that LPZ will become a highly sought-after item, providing it with a huge upward pressure.

LPX is currently in presale and has raised over $1.4 million so far. Fast-approaching its hard cap goal, the token is primed to explode as soon as it appears on the crypto market. That also means a window of opportunity to get in on the ground floor of this incredible project is closing fast.

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Binance Coin (BNB) – Native Token of The World’s Biggest Crypto Exchange

For many, BNB’s performance in the last month has come as a surprise. With Binance in hot water and embroiled in a legal battle with several US regulatory agencies, BNB’s crash seemed almost inevitable. However, it managed to bounce back on the heels of Bitcoin’s recovery and even make gains.

Still, the future of BNB seems uncertain and investors are still shy about adding it to their portfolios. With trading volume decreasing,  it is clear that the token is still far away from regaining investors’ trust.

Conclusion

Bitcoin seems poised for a fresh bull run, but the underlying conditions that caused its flesh crash last week are still present. Many investors have recognized this and have turned to tokens like WSM, SONIK, and LPX. These three are among the cryptocurrencies that have benefited the most from the crypto market recovery and their holders stand to benefit greatly once they appear on crypto exchanges.