3 Crypto To Sell To Avoid Losses In The Bull Run

by

As an experienced analyst, I believe that the Bitcoin halving is a significant event in the crypto market that can lead to bullish trends. The reduction in new coins entering the market due to halving can create a supply crunch, which when combined with increasing demand, can result in exponential price rallies for Bitcoin. However, investors should be cautious and consider rebalancing their portfolios post-halving by selling certain crypto assets that may not perform well.

As a researcher studying the cryptocurrency market, I’ve noticed an exciting development: there are signs pointing towards a significant bull run in 2024, primarily due to Bitcoin‘s upcoming halving event. However, it’s important to acknowledge that the market is not without its challenges. Geopolitical tensions in various regions, such as the Middle East and Europe, add an element of uncertainty. Nevertheless, the long-term perspective remains optimistic, with many analysts predicting a bullish trend.

What Is The Importance Of Bitcoin Halving?

As a Bitcoin analyst, I can explain that every four years or following the completion of 210,000 blocks in the Bitcoin blockchain, an event called halving occurs. This phenomenon is significant for crypto enthusiasts and investors due to its potential influence on the network’s functioning and the supply of Bitcoin.

As a researcher studying the intricacies of Bitcoin, I can explain that to maintain its scarcity in the long run, the number of freshly minted coins entering the market is periodically reduced through a process called halving. This reduction is achieved by decreasing by half the incentives given to miners for their crucial role in securing the network and processing transactions.

Prior to April 20, miners were rewarded with 6.25 Bitcoins for each block they mined. Post-halving, this figure dropped by half to 3.125 Bitcoins per block. In simpler terms, the number of new Bitcoins entering the market has been reduced substantially.

When the demand for Bitcoin remains steady or grows while the available supply becomes scarcer, this situation can lead to a significant surge in Bitcoin’s price. Consequently, many anticipate substantial rallies in the years 2024 and 2025.

As a financial analyst, I would recommend investors in the cryptocurrency market consider adjusting their portfolio allocations following the recent halving events. Notable digital assets such as Ripple (XRP) and PEPE present compelling reasons for potential selling opportunities.

1. XRP

As a crypto investor, I’ve noticed that the cross-border remittance token has seen a modest 1.1% increase in value over the past 24 hours. However, its price has dipped by 0.5% within the hour, now sitting at $0.52. This unremarkable trend is consistent with other cryptocurrencies, as Bitcoin battles to surmount resistance at $64,000, while Ethereum hovers between its support at $3,100 and resistance at $3,200.

In the meantime, XRP owners express concern prior to the upcoming court verdict in the ongoing lawsuit. Some contemplating departure, question the significance of Ripple’s possible relocation outside the US.

The price of XRP remained anchored at around $0.5254 during US trading hours on Friday. This came after a weekly rise to hit $0.5664, which was driven in part by the Bitcoin halving event. However, the token’s upward momentum was checked by resistance levels marked by the 50-day and 200-day Exponential Moving Averages (EMAs), represented on the chart by the red and purple lines.

3 Crypto To Sell To Avoid Losses In The Bull Run

If the value of XRP stays above $0.55 or ends the day at $0.52 as a minimum, it could motivate buyers to attempt a breakout from the falling wedge pattern. This potential breakout might propel the XRP price up to $0.7 and ultimately reduce the difference between its current value and $1.

2. Pepe Coin (PEPE)

As a crypto investor, I’m excited to share that I’ve come across a new player in the market named Pepe (PEPE), which is rapidly making waves on the Ethereum blockchain. This coin aspires to rival or even surpass the achievements of renowned meme coins such as Shiba Inu and Dogecoin. Currently ranking 35th in the market, Pepe boasts a substantial market cap of $3.22 billion.

As an analyst, I’ve noticed that platforms such as Coinbase have provided extra backing to Pepe, which has significantly boosted its exposure and worth. Additionally, major investors have made notable acquisitions, adding to the coin’s upward trend. Market tendencies and the surge of similar meme coins are also fueling the bullish energy surrounding Pepe.

3 Crypto To Sell To Avoid Losses In The Bull Run

I’m an analyst observing the cryptocurrency market, and currently, I see that Pepe is priced at $0.000007638, representing a 5% gain in the last 24 hours. This recent uptick has catapulted it to the top spot among meme coins on CoinMarketCap. Over the past week, its value has experienced a noteworthy rise of 47%. Moreover, over the past 12 months, Pepe’s price has surged by an astounding 3368%, making it an intriguing investment opportunity for potential significant returns this weekend.

Read More

2024-04-26 20:12