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Crypto enthusiasts are nearing the end of April, witnessing a recovery following losses in the first quarter. Although it has not yet reached desired levels, a continuation of the upward trend is anticipated. Despite significant downturns, cryptocurrencies do not fall indefinitely, and periods of stable increases eventually follow. This is the nature of crypto.
Bitcoin (BTC)
After continuous declines, altcoins have suffered significant losses over the past five months. The price volatility of BTC has played a crucial role, and now developments must favor the bulls. The focus has shifted from levels around $79,000 to six-figure prices.
Explaining historical data to new investors can be challenging. Instead, models resembling rainbows that illustrate BTC’s four-year cycles are much clearer. DaanCrypto recently shared updated insights on the rainbow chart.
“It is returning to the green zone. Assuming it won’t enter darker areas in this cycle is probably safe, but there will still be interesting movements underneath.”
“Where do you think the cycle peaks, or do you believe it has already peaked? I am uncertain about the exact timing, but I am still behind the four-year cycle. So far, there’s no evidence explaining why this time would be different.”
Michael Poppe summarized notable developments for the week, sharing market expectations.
“It’s a significant macroeconomic week that will likely guide future trends.”
“Terrible labor data could prompt the FED to implement QE and lower rates, leading to a rapid drop in yields.”
SEI Coin Could Present an Opportunity
With the increase in total locked value (TVL) in the network, we have seen rapid fluctuations in the spot prices of relevant cryptocurrencies. The rise in TVL indicates an increase in network value, so it’s unsurprising that this activity fuels token prices, making it worth tracking. Kyle mentioned in his latest assessment that SEI Coin has triggered such opportunity alerts.
“SEI continues to grow – a new week, a new all-time high.”
“Current TVL stands at $415 million, and the ecosystem is rapidly heating up.”
