– Crypto markets have taken a beating over the last few weeks, resulting in a sea of red.
– While altcoins have stopped taking a hit, bulls seem to be making a comeback.
– The recovery rally is contingent on Bitcoin price respecting key levels and triggering a rebound.
It has been a long week for me personally with a lot of traveling, and it seems all Bitcoin (BTC) did in that time was crash.But looking back at the charts after a long break is refreshing, and I think we’re close to a recovery.
With the exception of Federal Reserve Chairman Jerome Powell’s speech on May 19, there are no other major macroeconomic events, hence it will be smooth sailing for crypto markets regardless of the direction it takes.
But here’s what I think will happen – Bitcoin price is almost close to a bottom, provided we see a few signs of recovery.These signs are explained in detail in the article below.Additionally, I provide an outlook on what to expect with Ethereum (ETH) and Ripple (XRP) should Bitcoin pull a successful recovery rally.
Read more:
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Panic sellers likely to regret soon
Coins to watch for this week
APE, IMX, 1INCH, AVAX and OP
As a trader, I will be focussing more on altcoins, especially those that have massive unlocks coming up.
Here’s my thesis: if the recovery rally is in play, these altcoins are likely to pump before the unlock date and likely suffer a ‘sell-the-news’ event.
Here’s my rough idea of what I believe will happen with these altcoins.
Token unlocks:— Akash (@Mangyek0)
[$APE], [#1INCH] [$IMX], [$AVAX] [pic.twitter.com/ztWv711rrt] [May 15, 2023]
Top three reads
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Panic sellers likely to regret soon Ethereum Cancun upgrade to boost ETH blockchain’s popularity among developers and users on this condition Ripple Chief Legal Officer slams US SEC’s argument against the payment giant
Information on these pages contains forward-looking statements that involve risks and uncertainties.Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.You should do your own thorough research before making any investment decisions.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
It also does not guarantee that this information is of a timely nature.Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations.The author makes no representations as to the accuracy, completeness, or suitability of this information.FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.
Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Join Telegram
Follow us on Telegram
Stay updated of all the news
Recommended Content
Editors’ Picks
Bitcoin Ordinals dropping popularity sees BTC hashrate and price decline
Bitcoin Ordinals that enable the addition of text, images and code on the smallest unit of a BTC, a satoshi, have noted a decline in its popularity.Bitcoin network’s hashrate and price have declined alongside the drop in on-chain activity of Ordinals.
More Cryptocurrencies News
PEPE price pulls back as tokens worth $46M hit exchanges
PEPE, the third largest meme coin by market capitalization, has witnessed massive swings in its price in a matter of days.PEPE hit an all-time high of $0.00000431 on May 5 but has since then fallen sharply, trading at $0.00000127 at the time of writing.
More Pepe News
Litecoin price has a weak spot that could implode with LTC diving 15%
Litecoin (LTC) price sees bulls trying to get back above the level they defaulted on last Monday and have been unable to reclaim all week.Litecoin price is trying to recover from its declining price action this week.
More Litecoin News
Uniswap price action tells traders it is time to say goodbye to $5 handle as more downside pressure underway
Uniswap (UNI) price is the sum of everything that is going on in altcoins and cryptocurrencies.
Expect another 10% devaluation as big brother Bitcoin also cracks under pressure.
More Uniswap News
Bitcoin Ordinals dropping popularity sees BTC hashrate and price decline
Bitcoin Ordinals that enable the addition of text, images and code on the smallest unit of a BTC, a satoshi, have noted a decline in its popularity.
Read full analysis.
![[apk_updated] PDAX – Trade Directly with PHP](https://crypto247.news/wp-content/uploads/2023/05/60638-download-pdax-trade-directly-with-php-apk-1024x538.jpg)