Bitcoin Halving was potentially a success, as it has set BTC on the path to surpass the milestone of $100k by the end of this year, that is, 2024. Although an actual impact has yet to be registered by the crypto market, all eyes are turning to everyone’s favorite cryptos. PEPE is on the list as the meme coin segment gains traction, along with altcoins and AI tokens. In the last 24 hours, PEPE saw a surge of 5.98%.
Mining rewards for Bitcoin are fresh at 3.125 BTC. This is in addition to lowering Bitcoin’s circulating supply, which surged the listed value of the dominant crypto. It certainly affects Bitcoin. But the macro effect is imminent, as it teases a rise in almost every other crypto.
An early prediction shows that Bitcoin will reach $150,000 by the end of this year. It will first have to achieve a mark of $67,000 and then $75,000. In other words, it is a step-by-step guide for BTC’s rise. Additionally, the Federal Reserve’s announcement of rate cuts will have an impact. Being a near-perfect alternative to Gold as a store of value will only do good to a certain level.
The bullish signals for Bitcoin are evident from the fact that whales have transitioned their sentiments from HODLing to accumulation. The short-term trades are also hosted in the crucial zones at the 100-day and 200-day MA levels.
The Relative Strength Index is gaining for a pullback after reaching the upper threshold.
Bitcoin has currently retraced to $65,960.43, slightly away from $66,000 and far away from $73,000. It still represents a jump of 0.07% in the last 24 hours and a surge of 5.14% in the last 7 days.
As for PEPE, it is listed at $0.000006754 as the article is being drafted. That represents a 5.29% increase in the last 24 hours. The fact that it is still not above the resistance threshold of $0.000008 causes concern. The meme coin is accompanied by the sentiments of a community that is prepared to support a growth story on the condition that the coin takes action following the Bitcoin halving.
PEPE is below the expected resistance zone, and yet, PEPE price prediction estimates the meme coin to jump to $0.000012 by the end of this year. Breaking away from the said level presents an alternate scenario where the token exchanges hands at that very same level.
ETH could be the first to follow the BTC highs. The remaining altcoins, as well as a long list of meme coins, will follow. AI tokens are in the picture, but with a blurry appearance, for they have their own segment to manage that is driven by the convergence of Artificial Intelligence and blockchain technology.
Source: https://www.cryptonewsz.com/all-eyes-on-pepe-following-bitcoin-halving/