- How can bitcoin prices be profitable?
- Know about the trading options due to Bitcoin prices.
CryptoQuant CEO Ki Young Ju said recently on X that bitcoin price velocity has declined to a three-year low. This can be both beneficial and disadvantageous, as big whales were holding on to their positions, but the transfer to new investors couldn’t happen.
However, JP Morgan’s trusted analysts said that Bitcoin’s downtrend may be ending, and this can mean that investors can once again watch the Bitcoin price and invest accordingly. Due to this rise in the price of Bitcoin, many other altcoins can see profits and offer a short-term trading opportunity to many investors.
Toncoin Price
Toncoin has seen some changes in its prices and is expected to complete a break and close above $1.53. If a buyer forces the price above $1.53, the pair of TON/USDT could follow the pattern of rising to $1.91.
On the other hand, the bears might have other things to aim for, such as keeping the price at $1.53 and forcing the price down the moving averages. If they succeed in doing that, the above-mentioned pair could see a decline to $1.25 or even $1.15.
Monero Price
Monero (XMR) saw a great rise in its prices, which shows the bulls are holding on to their targets. If this continues, the pair of XMR/USDT can see a rise up to $157, which would eventually force many bears to sell.
If this doesn’t happen, the pair could fall to $125 or even $115. Therefore, the bulls pushed the price above the moving targets and forced the bears to lose their grip.
Mantle Price
Mantle (MNT), on the other hand, has witnessed a downtrend since its last peak at $0.60. Ever since then, it has been seen that the buyers are trying to gain control. If all goes well, the MNT/USDT pair could see a rise to $0.45 and, furthermore, to $0.48. Whereas, if the prices turn down, the bears could sell on every minor rally. After that, the pair could slide down to $0.40 or even $0.35.
The bulls have tried to move the price up but have failed to start a runaway rally.
Quant Price
Quant (QNT) showed a great rise from $95, which shows its demand at much higher levels. The bulls, however, would still try to force the price of the pair to the downtrend line. This would see a strong battle between the bulls and the bears and a shift in sentiment from selling to buying on the dips. Therefore, the pair could rise to $120, and on the downside, it could fall to $95.
Conclusion
Bitcoin prices have caused instability in the prices of many other altcoins. This may be beneficial to some while being disadvantageous to many others and affecting investors as well.
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