As the SEC prepares to share letters about moderate regulations concerning cryptocurrency companies, concerns about global trade wars have negatively impacted investor sentiment since mid-December. The new SEC administration aims to provide breathing room for altcoins in the long term, but what do experts think about PI Coin? Insights from analysts reveal a cautious view on the altcoin market over the next two months.
Future of PI Coin
After years of mobile mining, PI Coin has emerged as a popular project listed on multiple exchanges. However, its price performance has not met expectations in the short term. While many see it as a great opportunity for short selling, it has not provided such easy gains compared to other altcoins.
Crypto Bullet speculates that despite current conditions, PI Coin investors will soon face disappointment.
“PI launched three weeks ago and currently has a market cap of $12 billion.
It has a fully diluted value (FDV) of $170 billion. In comparison, $LINK has an 8 billion market cap, $KCS 1 billion, and $DAG 130 million. PI is certainly one of the most overvalued coins in the market, presenting a significant short-selling opportunity.”
However, those looking to capitalize on this opportunity have not found success yet.
Altcoin Two-Month Forecast
Despite Trump’s support for cryptocurrencies, his administration has taken a harsh stance on imports and exports with regions like Canada, the EU, Mexico, and China. New tariffs will come into effect on April 2, forcing everyone to adapt. Alternatively, like the UK, parties may negotiate trade agreements to resolve this issue, although EU officials claim the US is not inclined towards negotiations.
Famous market commentator Fidelitas Lex argues this situation could yield significant results favoring the US. Trump and US officials have previously stated they would penalize countries that devalue their currencies.
“The Bank of Canada lowered its policy interest rate by 0.25 points. If the Canadian dollar weakens against the US dollar, how much will the US’s tariff threats yield favorable results? Could the US fall into a ‘financial tightening trap’ while trying to improve the budget deficit?”
“Although the market seems bearish for altcoins, it’s essential to remember that a rebound is coming, and altcoins can still multiply from current levels. Markets do not move in a straight line downwards. A bounce will occur within the next one to two months.”
