These Influencers Give a Bitcoin Price Prediction of $100k, But AiDoge Is The Best Crypto Buy Today – Yahoo Finance

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Bitcoin has been on a nearly uninterrupted bullish run since the start of the year.
The world’s most popular cryptocurrency started off 2023 at a price of just over $16,600. The crypto market was in the depths of the crypto winter and many analysts predicted that the price wouldn’t recover anytime soon.
However, that all began to turn around in January. Bitcoin broke through the all-important price barrier of $20,000 and ended the month at $23,150. Bitcoin gained steadily through February, then exploded upwards in response to the failure of Silicon Valley Bank in March.
Bitcoin closed above $30,000 in early April, a huge milestone that represented a nearly 10-month high.
With all this positive movement, it’s no surprise that crypto bulls are starting to re-evaluate their price predictions. Three analysts in particular have suggested that Bitcoin could not only set a new all-time high this year, but actually reach $100,000, while AiDoge is another token attracting bullish sentiments.
Crypto analyst Charles Edwards, founder of Capriole Investments, recently took a closer look at Bitcoin’s chart and found a very bullish pattern developing.
The pattern, called a “bump and run,” occurs when an asset’s price drops significantly and then bumps back up to a trendline. Once the trendline is breached, the pattern predicts a sustained bullish movement.
Edwards suggests that Bitcoin breached its bump and run trendline in March, when the token reached the $22,000 price level. The bump and run pattern doesn’t specify how far Bitcoin could run, but Edwards thinks $100,000 is a potential price target.
Geoff Kendrick, a crypto analyst at British multinational bank Standard Chartered, argued in a recent report that Bitcoin could hit $100,000 by the end of 2024.
The report points to the recent turmoil in the banking industry as the catalyst for a surge in Bitcoin. At a time when trust in financial institutions is diminished, Bitcoin’s position as a trustless and scarce asset makes it especially valuable.
In addition, Kenrick says that stablecoins losing their pegs—something that has happened multiple times in the past year—benefits Bitcoin. He argues that investors will increasingly view BTC as the best store of value as opposed to stablecoins.
Adam Beck, the inventor of Hashcoin and the CEO of Blockstream, has long been bullish on Bitcoin. He predicted a price target of $300,000 during the last bull cycle, and while that didn’t turn out correctly, he re-issued a $100,000 price target last year in the midst of the crypto winter.
Beck’s bullish prediction for Bitcoin centers on the collapse of decentralized finance (DeFi), which encourages crypto users to move money out of Bitcoin and into riskier tokens. DeFi has been hit especially hard by the crypto winter, which proved how risky lending in the crypto industry can be.
For Beck, the true signal of Bitcoin’s rise to $100,000 will be the decorrelation of Bitcoin from the US stock market. There are signs of that happening now, as Bitcoin’s correlation with the S&P 500 is at its lowest level since 2021.
Even if these analysts’ rosy predictions about Bitcoin come true, investors only stand to earn a gain of around 3x from today’s BTC price. Considering the risk involved if the crypto winter isn’t over, that’s arguably not enough of a return for many investors to jump into Bitcoin.
However, there’s another coin offering a much greater potential return: AiDoge.
AiDoge is a new meme coin based on the wildly popular shiba inu meme. This is the same meme that spawned Dogecoin and Shiba Inu, which generated returns of 19,000% and 100,000%, respectively, during the last crypto bull market.
AiDoge is more than just another meme coin, too. It leverages advances in generative AI to help users create the next generation of viral memes.
With AiDoge, users just need to enter a prompt describing the meme they want to create. The AI algorithm will do the hard work of finding the perfect image and writing a meme-worthy caption to accompany it. Then users can share their newly minted memes with the world.
AiDoge rewards top-rated memesters with its $AI crypto token, which is also used to purchase credits to use the meme-generating AI algorithm. In addition, AiDoge supports $AI staking. Stakers earn daily credits to generate memes, which encourages long-term investing in the $AI token.
Investors have a chance to buy $AI at a discounted price before it hits major exchanges. The AiDoge presale is going on now and offers $AI at a price of only $0.0000264. The project team plans to list $AI at $0.0000336, which means early investors can lock in a 27% paper return.
The AiDoge presale has proven extremely popular, selling nearly $700,000 worth of $AI tokens in its first 5 days. The first stage of the presale is now more than 50% sold out. So, investors don’t have much time to join the presale before the price of $AI increases.
Visit AiDoge Presale
DISCLAIMER: This is not to be taken as investment advice. Crypto is a volatile asset, do your own research before investing and only invest money you can afford to lose. We may receive commission for clicking links in this article.
Finance News
Alex Brown
alex@financenews.com
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