Bitcoin Hits 1-Year High at $30,000: Will the Price Surge Continue to $40,000 in 2023?
The crypto market is many things but one thing it is not is boring. Bitcoin (BTC) has had an amazing week that pretty much came out of nowhere. It has been so good in fact that it has broken $30k for the first time since around this time last year.
Certain factors have fallen in place at the right time for crypto's biggest token and now people are wondering what could be next. Bitcoin's highest-ever price was just under 65k and many have predicted that it could get back to that price area by the end of the year.
Of course, you will always be able to find experts that are bullish on Bitcoin that is nothing new.
This time though they might be proven right. There are significant outside factors that have coincided with Bitcoin's jump in price and it is hard to see why the bullish period would slow down just now. The question is how far will it climb?
Let's take a closer look at what caused Bitcoin's pump and from there we might be able to answer this question.
That 7-day performance chart for Bitcoin (BTC) will be beautiful viewing for its investors. Just under 17% growth in just a few days is huge for the flagship currency but how did it happen? Well, at the start of the week, Bitcoin reached 50% market dominance for the first time since 2021.
This was off the back of the SEC lawsuit against Coinbase and Binance naming a number of rival altcoins as securities.
This caused their price to fall and more investors to turn to Bitcoin. The market dominance started off the uptick in price but it was some interesting news from the traditional banking world that really caused it to take off.
Last week we found that one of the world's largest asset managers, BlackRock filed for a US exchange-traded fund (ETF) with the SEC. Around the same time, news broke that Deutsche Bank was making similar strides into the world of crypto in Germany.
The market has reacted very positively as a whole to this news because if asset managers of this size want to launch exchanges it goes a long way to legitimizing crypto not only in the eyes of the public but also regulators.
Bitcoin will be the biggest beneficiary from these moves hence the explosion in price.
Maybe we will need confirmation that BlackRock gains permission for Bitcoin to pump close to 2021 levels but for now it feels like it won't stop at $30k.
As the market is enjoying a bullish period it is the perfect time to invest in some low market cap projects that could benefit from the market conditions.
Wall Street Memes - The meme coin that might topple DOGESince its launch, Dogecoin has dominated the meme coin market but a lot of that is because of a lack of competition. There is a real feeling around the market that Wall Street Memes ($WSM) will be real competition in the best meme coins tussle.
It is because of the fact that their online presence already has over 1 million followers before even entering the crypto market. Crucially some of their Twitter followers include influential crypto players such as Youtuber Cameron Fous. The project's reach is already huge and the presale has reflected that. We are very interested to see how far this meme coin can pump. Find out how to buy Wall Street Memes here.
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Ecoterra- Experts are Fawning Over the Potential of this Green CoinAny expert with their sale should have now realized that investing in green cryptos will be profitable long-term. Ecoterra (ECOTERRA) is likely the best green project we have seen so far. This is mainly due to the fact that how they aid the environment isn't convoluted, unlike other projects.
Earn native currency when you recycle that is the name of the Ecoterra game. Go to their partner supermarkets, which will be available in the app, scan your recyclables, and use the reverse vending machines in-store, and that's it you will earn Ecoterra.
The market is obsessed with Ai technology at the moment and for good reason too. Many projects have tried and failed to come up with a trading platform to help investors but none had the idea that yPredict (YPRED) does. After all, who else can boast the top 1% of AI developers?
That is what the project claims will be on their platform. How it works is these developers will be incentivized by both receiving 70% of every YPRED token and by selling their trading algorithms via a subscription service on the site.
Investors will be able to pick their favorite algorithm and get access to everything that can give them an edge over the market. Find out how to buy yPredict here.
The gig economy has exploded in recent years. Forbes reported that freelancers contributed $1.35 trillion to the U.S. economy in annual earnings in 2022, up $50 billion from 2021.
This is only going to increase in the coming years but DeeLance (DLANCE) has noticed that the platforms that connect freelancers to employers have a lot of issues.
They believe introducing a decentralized platform that uses Web 3.0 technology can greatly improve both freelancers' and employers' experience while connecting for work.
Fees, payment problems, ownership issues, and disputes are all issues on current sites that their platform will improve on thanks to new technology.
Every crypto project nowadays seems to involve Web 3.0 in some way or another but Launchpad XYZ (LPX) has noticed there is a big untouched market just helping people get started with it.
As technology is new and always developing it can be alienating to a big portion of people.
The Launchpad XYZ platform aims to onboard the next 10 million people onto Web 3.0. They hope their site will be the only stop for everything to do with the technology, get a grounding in the latest developments, play the best blockchain games, or find the next project that will pump.
Whatever it is you need, Launchpad XYZ hopes to help you. Find out how to buy Launchpad XYZ (LPX) here.
So let's finish up, Bitcoin looks like it should stay pumping if the market conditions remain. The good news kept coming this week so it feels like it is not finished pumping yet. Now the market is green it is a great time to try to get involved in some new crypto with low market caps like the ones we have listed above. Happy hunting!
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