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In February, the crypto platform Matrixport predicted that Bitcoin would cross the $63k mark in March. Interestingly, this prediction checked out as Bitcoin even surged above the $70k mark, leading to predictions that BTC will trump $100k soon.
Meanwhile, crypto analysts have given bullish price predictions for KangaMoon and Cardano, making them the best altcoins to watch in the market. Read on to see what analysts have forecasted.
Bitcoin (BTC) Surpassed $63K As Predicted By Matrixport To Extend Gains
Earlier in February, Matrixport, a digital asset platform, predicted that the price of Bitcoin (BTC) would reach the $63k mark in March. Two major factors the platform gave to back their prediction were the continuous inflows into Bitcoin following the launch of Bitcoin ETFs and the upcoming Bitcoin halving event.
Data from CoinMarketCap shows that Bitcoin even crossed the $63k mark earlier on February 28th, rising as high as $64k. While the flagship cryptocurrency did not witness some price corrections in the following days, Bitcoin bulls were quick to spark a price recovery.
This price recovery, fueled by increased Bitcoin ETF inflows, pushed BTC to a new ATH of $73,750.07 on March 14th. While the coin has faced some corrections, investors remain bullish. With the Bitcoin halving only a few weeks away, top analysts are bullish that Bitcoin's price could rise to $100k in 2024.
KangaMoon (KANG): One of the Best Coins To Invest In
KangaMoon (KANG) is a project that is all out to redefine meme coins by adding utility to their features. At its heart, KangaMoon is building a community-centric platform that blends Social-Fi elements with competitive play-to-earn gaming.
The aim is to provide a community where users can take part in activities and earn rewards. Those who can enjoy these rewards are those who have KangaMoon's native token, KANG. KANG holders can accumulate free tokens through contests and competitions and be active on the platform.
Also, the token is used for transactions and will have more utility in KangaMoon's upcoming projects (NFT marketplace and metaverse platform). Meanwhile, KangaMoon has captivated significant interest, particularly in its fourth ICO stage.
KangaMoon has raised over $3.2 million in funding and recorded a 180% price jump to its present value of $0.014. Moving forward, analysts are bullish on the meme coin to record more gains in the coming months. They have forecasted that the price of KANG will rise to $1, catalyzed by Bitcoin's upcoming halving event.
Cardano (ADA) Forecasted To Reach $7.50
Well-known influencer Jake Gagain, in one of his latest videos, emphasizes the prospects of Cardano (ADA). He stated that Cardano will soon break its all-time high and forecasted it to go to $1 by April, which is the Bitcoin halving time.
Nevertheless, he expects it to continue its surge following the halving and forecasts that ADA may rise up to $7.50 by 2025. Reasons for the influencer's bullish prediction emphasized such things as a strong community and ecosystem of Cardano.
Cardano's TVL has increased compared to the last time bulls were in control, and they will see more and more inflow during the current bullish season, Gagain indicated. As for now, the ADA token trading ranges from between $0.5804 to $0.7353. Gagain has a positive outlook, which makes it one of the top altcoins to watch at the moment.
Conclusion
Along with the coming Bitcoin halving, KangaMoon and Cardano are among the best coins to invest in. In the case of KangaMoon, it is predicted to rise from $1 to $1, while in the case of Cardano, it is expected to rally to $7.5. This upward thesis is an indication of the crypto community both projects have at the moment.
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View source version on newsdirect.com: https://newsdirect.com/news/matrixport-63k-bitcoin-prediction-comes-true-kangamoon-poised-to-hit-1-influencer-forecasts-cardano-to-7-5-422209123
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COMTEX_450166296/2655/2024-04-01T04:28:52
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Current Hue journalist was involved in the writing and production of this article.