Cryptocurrencies continue to show green, drawing attention to Trump’s efforts to ease global trade tensions.
The hardline rhetoric from early April has been replaced by a more conciliatory approach. Although progress on trade agreements has been reported, China is denying unilateral statements, indicating that it is time to see more concrete actions. What lies ahead for cryptocurrencies? Where are the forecasts heading?
Bitcoin (BTC)
As of writing, the king of cryptocurrency is sitting at $94,500. There is a slight uptick in altcoins as well. After prolonged selling, investors are eagerly awaiting another surge. Trump’s statements being denied by China also suggest we have reached a stage where concrete actions are needed.
Prominent market commentator Scott Melker has released his predictions for Bitcoin.
$95,522.
“Bitcoin continues to remain strong on the daily chart. Following a major breakout at the declining trend line and the $88,804 resistance level, the price continues to move upward and is now consolidating above key levels. Notably, the last three candles have long lower wicks, indicating that every dip is being aggressively bought.”
“This consistent demand below the price typically signals that buyers are in control. The movement confirms bullish momentum as it comfortably stays above both the 50-day and 200-day moving averages. As long as these dips continue to be bought, the upward movement will persist.”
We have experienced the longest bear markets. This is what seasoned investors unanimously say. While some suggest we will now see short-term trends, experts like Poppe argue that we are on the brink of another significant rally, and temporary increases do not yet indicate a full trend. The graph below historically supports this assertion.
“This graph indicates that we have the longest bear market in # Cryptocurrency and # Altcoin history, lasting four years. It also suggests that we are about to start the largest bull cycle ever.”
Let’s hope Poppe is right this time.
PENGU Coin Insights
Altcoin Sherpa had accurately predicted the recent rise in BTC, albeit with a delay. His view was a pullback following a move over $90,000. However, since we haven’t observed significant sell-offs, it seems the market is genuinely poised for a rise. In a recent assessment regarding Pengu Coin and similar cryptocurrencies, the analyst shared the following insights.
“Coins like PENGU have been in a decline for the past few months but are showing some signs of life. The real test will be determining where the next low point is and how the market reacts—the trend remains bearish, so don’t rush to catch falling knives. However, if the atmosphere continues to ease, we could witness some reversals. Eyes will be on some of these coins.”
