Bitcoin (BTC) has enjoyed a reaffirming last 10 days or some and seems to have stabilized above 30k after the bulls held solid. Many are wondering now though what comes next? Will crypto’s flagship currency keep pumping back toward previous highs or have potential investors missed the boat?
Some would argue that the boat for Bitcoin left the harbor in 2017 due to Bitcoin’s massive price. It is hard for those without deep pockets to invest any sort of amount in the currency that would see them get a good return when compared to some of the other coins that are pumping.
However, Bitcoin is a much surer investment and some look at it nearly like a bond for their future savings. Depending on where you land on either side of this fence will determine whether you wish to invest in the project now. We think it is more likely to go up than down but also expect modest gains not quite like the recent pump.
Let’s take a deeper look at what we mean.
Bitcoin Pump is Likely Not Over But Big Gains May Be
Below we can see the last 7-day performance chart for Bitcoin (BTC). An unusual amount of fast growth for the crypto that was its third-largest pump of the year. To find out whether the pump will sustain or not we need to look at what initially caused it.
The initial pump was a combination of two things and this is likely what led to the price taking off so fast. First off it was the delayed effect of the SEC lawsuit against Binance and Coinbase. This was obviously bad news for the crypto market in general so most currencies took a hit.
After the dust settled though a lot of investors turned to Bitcoin. This is because a lot of their major competitors were mentioned as securities in the lawsuit which left the door open for investors to jump these sinking ships and join the Bitcoin one.
Next, and probably more importantly were some developments from outside the market. A little while ago news broke that BlackRock, one of the world’s largest asset managers, was filing for an ETF with the SEC. This basically is them taking their first steps into possibly becoming a platform for digital currency.
This came right around the same time that Deutsche Bank was making very similar moves over in Germany. The timing of these moves is likely not coincidental as the SEC crackdown on trading platforms stateside, while in Europe the EU started to pass through MiC legislation that would legitimize the use of digital tokens on the continent.
These moves all helped Bitcoin as the number one and most accepted cryptocurrency. It is unsure what it will mean for the rest of the market but we doubt BTC holders care too much. What it means for the future though is that Bitcoin will likely stay climbing but its ascendency will likely be much slower now the initial pump is over.
While Bitcoins climb is slowing, one of the best meme coins is speeding up as its presale picks up even more momentum.
Wall Street Memes Flies Past $10 Million
It is a testament to the presale of Wall Street Memes ($WSM) that by the time you are reading this the title is likely going to be out of date. The presale has blown past the $10 million raised barrier and is now well on its way to $11 million. The hype has been there right from the start but why?
Meme coins are built on a sense of community. Dogecoin and Shiba Inu have survived for so long on top of the meme coin ladder because of the huge online following they built during their golden eras. Until now only Pepe Coin was able to even briefly come close to their success but that threat did not last long.
When Wall Street Memes first launched the price of Dogecoin and Shiba Inu were both tanking and that is likely not a coincidence. Many of you will already know about Wall Street Memes because of the massive following they already have across their social media accounts which well surpasses 1 million.
A meme coin has never come ready-built for the market like this before. In fact, the group has had one foray into the crypto market before. In 2021 their NFT collection sold out in 32 minutes flat. So if that is any indicator of what is to come it is no wonder there are rumors that the bigger meme coins are very nervous about its potential.
AI has become increasingly popular with everything crypto these days. One way investors are trying to utilize it is by using chatbots for crypto predictions. In the beginning, we only really had ChatGPT for this but it warns users it cannot make predictions and needs a jailbreak version to actually make a forecast.
Now we have Google’s AI chatbot, however, which is called Bard. It gives crypto predictions without hesitation and has already made some accurate predictions for users. When asked how it thought $WSM would perform in 2023 it forecasted that the meme coin could pump 352% from its original presale price.
So not only does this new meme coin have the power of a huge online community already on its side but it has the best new AI chatbot in its corner too. Memes coins are notoriously volatile so its listings will tell a lot but the future certainly looks bright at the moment.
Whether it is too late or not to buy Bitcoin almost turns into a philosophical question as it depends on how you view the currency. It will likely still go up in price but also probably won’t pump as fast as it did last week.
Wall Street Memes on the other hand is raising funds at a blistering pace. It has the potential to be the new number-one meme coin so its ascension will be very interesting to watch.