3 Cryptocurrencies To Buy The Dip Before Exploding 50X

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As an experienced analyst, I believe that the recent correction in the crypto market, with Bitcoin plunging from $71,000 to $64,000, has created a buying opportunity for investors. The significant net outflows from Bitcoin ETFs further underscore this trend, as cautious investors are taking profits or seeking shelter amidst volatile market conditions.

In June 2024, the crypto market experienced a substantial drop, causing Bitcoin and other prominent digital assets to fall from $71,000 to $64,000. This correction sparked a broader sell-off among major cryptocurrencies, providing investors with a chance to consider purchasing at lower prices.

As an analyst examining the current state of Bitcoin Exchange-Traded Funds (ETFs), I’ve noticed some concerning trends based on data from SpotOnChain, a reputable on-chain data provider. Specifically, there has been a noticeable increase in net outflows from these funds, which can be interpreted as investors becoming more risk-averse in the face of market instability.

$BTC #ETF Net Inflow June 21, 2024: -$106M!
• The net inflow has been negative for the entire trading week (total outflow: $545M).
Yesterday, I observed a net outflow of $34.2 million from Grayscale’s GBTC, whereas BlackRock’s IBIT experienced a net inflow of zero dollars in my research on the recent flows.
• The cumulative total net…
— Spot On Chain (@spotonchain) June 22, 2024

During the entire trading week, there were significant outflows from the cryptocurrency markets, which intensified the pessimistic attitude among investors.

Cryptocurrencies To Buy The Dip- Fetch.ai (FET)

As a analyst, I’d describe Fetch.ai (FET) as an intriguing initiative that merges the power of blockchain technology with artificial intelligence (AI). My role is to delve deeper into its functionalities. In simpler terms, this project is designed to establish a decentralized digital economy where self-governing “agents” can execute tasks, enhance system performance, and facilitate seamless data exchange – all within a trustless framework.

3 Cryptocurrencies To Buy The Dip Before Exploding 50X

In the rapidly expanding realm of artificial intelligence, Fetch.ai (FET) is set for substantial advancement. Although its price dipped from $3.84 to $1.1 due to a recent market slump—representing a 68% decrease—the coin’s chart reveals two converging trendlines forming the shape of a bullish flag pattern, indicating potential growth.

Lately, FET bounced back from its lower support line, surging by 37% to hit a price of $1.5. Meanwhile, its market value expanded to a total of $1.287 billion.

If the trendline resistance of the current chart pattern is breached, it could indicate a shift in investor attitudes towards FET, potentially leading to a significant price increase towards $40.

2) AAVE

As a researcher studying the decentralized finance (DeFi) space, I can tell you that Aave is a groundbreaking protocol that empowers individuals to lend and borrow cryptocurrencies outside the realm of traditional financial institutions. However, in mid-March, this innovative altcoin took a turn for the worse and experienced a sharp correction. The price dropped significantly from $145.8 down to $79, representing a considerable decline of approximately 45%.

3 Cryptocurrencies To Buy The Dip Before Exploding 50X

Based on the information I’ve gathered from CoinMarketCap, my research reveals that the market capitalization of AAVE coin currently stands at approximately $1.189 billion. Additionally, the trading volume for this cryptocurrency over the past 24 hours amounts to around $85.8 million.

The daily price chart for AAVE reveals that the current correction is simply a part of a 27-month long period of sideways movement. This trend is characterized by a symmetrical triangle pattern, which has been influencing the cryptocurrency’s price action. As such, it is expected that AAVE will continue moving sideways within this triangle before eventually breaking out with renewed directionality.

As a financial analyst, I can assert that Aave has firmly established itself as a leader in the decentralized finance (DeFi) industry, accounting for over 60% of the market share in on-chain lending. This week, Satoshi Club reported that an impressive $13 billion has been borrowed through on-chain lending platforms, with Aave being the primary driver of this significant volume.

Over $13 billion has been borrowed through on-chain lending platforms, with Aave being the front-runner, accounting for approximately 60% of the market.

— Satoshi Club (@esatoshiclub) June 18, 2024

If the price breaks out from the triangle, it could indicate a significant change in direction and lead to reaching the initial goal of $660.

3) Notcoin (NOT)

As a researcher studying the cryptocurrency market, I’ve come across Notcoin (NOT), an intriguing token that garnered significant attention through a viral Telegram game. This innovative approach, dubbed “tap-to-earn” mining mechanic, successfully onboarded numerous users into the web3 realm. Concurrently, Toncoin‘s expansion has been accompanied by Notcoin’s price surge, exhibiting a robust rally towards the end of May.

3 Cryptocurrencies To Buy The Dip Before Exploding 50X

Despite the recent market downturn, NOT‘s price dropped significantly from $0.029 to $0.0114, resulting in a substantial 50% decrease. Notcoin presently boasts a market capitalization of $1.5 billion, maintaining its rank as the 56th largest cryptocurrency.

The declining pattern in NOT‘s price is influenced by a falling trendline, fostering a mindset among sellers to capitalize on rallies. For buyers to regain the upper hand, they must push the price above the existing resistance level.

If the asset experiences a productive escape from its current range, it’s a strong indication that the upward trend will persist. This development is likely to encourage investors to push the price above the $0.1 threshold in the coming days.

Key Takeaway

As Bitcoin experiences a correction in June, reaching prices 12% below its record-breaking peak of $73,750, many retail investors express concern. Nonetheless, it’s crucial to remember that significant corrections of around 20-30% have historically occurred before an uptrend resumes. This situation offers a unique opportunity for investors on the sidelines to take advantage and purchase cryptocurrencies at lower prices, optimally positioning themselves in anticipation of a potential major market reversal.

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2024-06-22 16:59