Expert Analyst Believes Bitcoin (BTC) Could Drop Below $50K, See His Recommended Crypto Picks
The crypto market has taken a major bearish hit as Bitcoin (BTC) struggles to maintain its position. Recent predictions from market experts like Arthur Hayes suggest a persistent decline. However, they recommended certain altcoins like FXGuys ($FXG), Aave (AAVE), and Bitcoin Cash (BCH) to be worth considering during this downtrend. Let’s see why!
Bitcoin has been facing significant price struggles in recent weeks, with several indicators pointing to institutional sell-offs as a major factor.
Reports show that eight ETFs sold $287 million BTC on September 4, 2024. This sell-off from institutional investors sent the price of BTC crashing down to $54,000.
Adding to the struggles of BTC, Arthur Hayes, the former CEO of BitMEX, publicly predicted that the cryptocurrency would dip below $50,000 over the weekend. Hayes’ bearish outlook is reinforced by Bitcoin’s poor price action, which has consistently fallen back to the $56,000-$58,000 range despite attempts to rally.
With both institutional sell-offs and bearish sentiment from prominent market figures like Hayes, the possibility of a bullish run for Bitcoin remains uncertain. Fortunately for investors, top altcoins like $FXG, AAVE, and BCH are still leading the bullish charge, with the potential of massive returns.
$FXG has started capturing attention as a standout investment opportunity for 2024. Setting itself apart in the crypto space, FXGuys introduces an innovative decentralized Forex brokerage combined with a prop firm funding program. The platform gives traders access to $200,000 in trading capital, and they can earn $FXG tokens through an innovative Trade2Earn model.
One of the most appealing features of $FXG is its real-world utility. Many tokens offer speculative value,
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