Increasing geopolitical tensions between Iran and Israel in the Middle East have created uncertainty in the cryptocurrency market. Over the last 24 hours, the total cryptocurrency market capitalization has decreased by 5.2%, dropping to $2.273 trillion. However, expert MartyParty predicts that the recent price pullback of Bitcoin 
$94,324, which reached the $60,000 level, could lead to a parabolic rise.
Bitcoin’s Expected Parabolic Rise
MartyParty’s Bitcoin price forecast suggests that the largest cryptocurrency is approaching a parabolic rise following a correction due to escalating conflict in the Middle East. Currently, Bitcoin’s price stands at $61,717. According to the analyst, a further drop to $60,000 may be necessary to initiate this potential parabolic rise.
Highlighted Altcoins
MartyParty noted in his analysis based on the Wyckoff Accumulation model that Bitcoin is currently in Phase D, approaching the support level around $60,000. A breakout from the consolidation zone towards $67,000 would indicate the model’s final phase, with potential for prices to exceed $89,982.
If Bitcoin follows this trajectory, altcoins that currently present buying opportunities and potential gains include Artificial Super Intelligence (FET), Degen (Base) (DEGEN), and Io.net (IO).
FET is attracting attention due to its innovative integration of artificial intelligence with blockchain technology. Coinbase is set to list FET-PERP on October 5, which will enhance the altcoin‘s visibility through speculative trading.
FET’s current trading price is $1.52, reflecting an 8.1% decline over the last 24 hours. However, the growing collaboration in artificial intelligence suggests that FET may form a potential V-shaped reversal around the $1 level.
Degen (Base) (DEGEN) is recognized for its vibrant community and unique approach to decentralized finance (DeFi). DEGEN will be officially listed on exchanges as part of Coinbase’s listing roadmap.
Io.net (IO) stands out with its robust infrastructure aimed at enhancing internet connectivity through blockchain solutions. However, IO’s price response has been below expectations, with a 12.5% drop over the last 24 hours.
Focusing on these altcoins may provide advantages for investors during Bitcoin’s potential parabolic rise. FET, DEGEN, and IO each present significant opportunities for different reasons within their respective markets.
