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COINTURK NEWS > Cryptocurrency News > Cryptocurrency Analysts Share Insights on Market Trends
Cryptocurrency News

Cryptocurrency Analysts Share Insights on Market Trends

In Brief

  • Bitcoin's price decline continues to disappoint investors.

  • Solana's active addresses have increased significantly in October.

  • AAVE and DOGE show interesting trends amid market fluctuations.

Fatih Uçar
Fatih Uçar 6 months ago
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Cryptocurrency investors have not yet experienced the anticipated price increase. For over two quarters, these investors have faced continuous disappointment as their expected rise has yet to materialize, overshadowing several positive developments. The latest attempt to break through has also ended in failure, prompting commentary from a cryptocurrency analyst who had predicted this outcome.

Contents
Analyst Predicts Decline with BitcoinActive Addresses on Solana IncreaseInsights on AAVE and DOGE

Analyst Predicts Decline with Bitcoin

Recently, Roman Trading shared a price prediction while Bitcoin $104,031 hovered around $73,000. As he anticipated, prices began to decline, falling below $70,000. The realization of a bearish scenario, which lacked conviction when prices peaked, has dampened morale among traders. So, what are his current thoughts?

“In the past few days, I’ve released several scenarios. This is to instill confidence about where prices might head in the coming days. A drop to $66,000 would facilitate a potential price reversal, whereas maintaining the $68,000 level suggests a more bullish outlook.”

Currently, Bitcoin is attempting to hold above $68,000, slightly recovering from a low of $67,251 to now sit at $67,850.

Active Addresses on Solana Increase

Kyle has shifted focus to a different topic today, emphasizing the number of active addresses on the Solana $173 network. He expresses satisfaction with a 42% increase in addresses in October compared to the previous month, bringing active addresses close to 123 million. However, a significant portion of these addresses remains undetermined due to duplicates.

“At the beginning of the year, there were only 12.7 million active addresses. This increase is attributed to rising meme coin transactions driven by applications like Pump fun and the decentralized exchange Raydium, both of which have shown robust activity recently.”

Insights on AAVE and DOGE

In today’s altcoin analysis, Poppe also discusses AAVE Coin, noting a slowdown in momentum. He shared the following chart, suggesting that the price of AAVE above $110 would provide a necessary foundation for a quick upward movement as investors reduce risk before elections.

Turning his attention to Dogecoin $0.226998, Ali Charts points out the increase in addresses on the Dogecoin network. He notes that over 35,000 new addresses are added daily, which supports his view. In the last 24 hours, Dogecoin has also seen a significant gain, exceeding 5% among major altcoins.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 4 November, 2024 - 10:16 pm 4 November, 2024 - 10:16 pm
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