Crypto

Altcoin strategist Altcoin Sherpa forecasts a remarkable 267% increase in the value of Solana SOL/USD by the end of the year, with a potential rise to over $500. Additionally, he suggests opportunities for investment in AI-focused cryptocurrencies Fetch.ai (FET) and Render (RNDR) due to expected dips in their prices.

The cryptocurrency market experienced a rollercoaster week, with Shiba Inu's burn rate skyrocketing, concerns about overvaluation rising, and meme coins like Pepe and Dogecoin gaining traction. Meanwhile, Cathie Wood of Ark Invest made a bold prediction about Ethereum's potential to reach a market capitalization of $20 trillion by 2032.

A whale's recent deposit of 1,200 Bitcoin into the Kraken exchange has sent shockwaves through the cryptocurrency market, raising concerns about a potential price correction. This significant transaction, worth approximately $77.67 million, comes just 43 minutes before the report and follows a period of extensive accumulation by the same whale.

Pseudonymous trader Tim challenges the prevailing bearish sentiment surrounding Bitcoin, highlighting its impressive 14-month rally and healthy consolidation phase as indicators of a continued bull run. He emphasizes the importance of a long-term perspective and patience, encouraging investors to adopt a "zoom out, perspective, patience" approach.

Renowned crypto analyst Michaël van de Poppe expressed skepticism about the likelihood of an Exchange-Traded Fund (ETF) approval for Ethereum ETH/USD, noting low chances despite potential price increases. Van de Poppe highlighted the resilience and strength of the Ethereum ecosystem in his social media posts.