Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin Price Crash Warning, Ripple (XRP) Predictions, Solana Meme Coins’ Resurgence: Bits Recap Jan 18

Bitcoin Price Crash Warning, Ripple (XRP) Predictions, Solana Meme Coins’ Resurgence: Bits Recap Jan 18

CryptopotatoCryptopotato2024/01/18 12:28
By:Dimitar DzhondzhorovMore posts by this author

Peter Schiff envisioned a potential BTC price collapse, XRP was predicted to rise in the short term, while WIF hit an ATH.

TL;DR

  • According to critic Peter Schiff, Bitcoin faces potential regulatory challenges, which may impact its price.
  • Despite recent underperformance, some analysts predict a future rally for Ripple’s XRP.
  • Solana-based meme coins, dogwifhat (WIF) and Myro (MYRO), are experiencing significant growth, contrary to the broader market trend.

BTC Price Alert

Despite the historic approval of spot Bitcoin ETFs in the United States and BTC’s brief surge to $49,000, the asset’s price has been on a downfall in the past week. Currently, it trades at around $42,600 (per CoinGecko’s data), with some envisioning a further slump. 

One example is Peter Schiff – a well-known economist and one of Bitcoin’s harshest critics – who recently  claimed that Gary Gensler (Chairman of the US SEC) gave the thumps up on the ETFs after being “backed into a corner.”

As such, Schiff believes that the agency’s head might soon introduce “new onerous crypto regulations” that could increase the cost of BTC transactions and negatively impact the asset’s value.

Numerous X (Twitter) users opposed that theory, reminding that Gensler has repeatedly  stated  over the years that Bitcoin is the only cryptocurrency with the status of a commodity, meaning the Commission doesn’t have jurisdiction to implement rules on it. 

Schiff suggested that the potential regulation won’t relate to securities laws but focus on anti-money laundering (AML) procedures.

Where is XRP Headed?

Ripple’s XRP has also been underperforming lately, dropping by 5% on a weekly scale. Still, some analysts, including the X users Crypto Rover and Dark Defender, remain optimistic that a rally in the near future is in the cards.

The former  envisioned  a “massive breakout” in the next eight weeks. Dark Defender thinks XRP has been in a bullish mode for the past 180 days, maintaining there are 10 more months (at least) in which the asset’s value could skyrocket to as high as $22.50. 

Those curious to explore some of the top XRP forecasts for 2024 could take a look at our dedicated video below:

Solana Meme Coins in the Spotlight

Dogwifhat (WIF) and Myro (MYRO) have defied the ongoing negative trend in the cryptocurrency market, experiencing impressive rallies as of late. As CryptoPotato  reported , the former jumped to an all-time high of over $0.45 following listings on leading exchanges, such as Binance and BitMEX. 

MYRO also reached an ATH, soaring by 50% today (January 18) and exceeding the $0.20 mark. Its upswing has been evident in the past month when its value exploded by a whopping 750%.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!