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Bitcoin is nearing its all-time high, just 2% away, fueling hopes for an $80K November and potential altcoin surges like Pepe Unchained.
Bitcoin is trading less than 2% away its all-time high (ATH), and traders are ecstatic.
With momentum on its side, $80K is within reach in November. This lays the way for smaller altcoins like Pepe Unchained to also explode.
Bitcoin successfully flips HTF resistance to support, analysts point to $80K
Bitcoin recently broke out from a seven-month resistance, and now it’s turned it into support.
The market-leading crypto displays huge momentum after flipping its long-term resistance into support, now trading at $72.3K.
Adding confluence to this breakout, BTC has just experienced its highest-ever close of a 3-day candle.
Momentum is clearly in its favor.
And with that, there’s every chance it smashes past its ATH this week and ventures into uncharted territories in November.
How far can it go? $80K is a target everyone is watching closely.
After Bitcoin successfully broke and retested the descending channel resistance, analyst Castillo Trading predicted it would hit the $80K mark next.
And Bitcoin looks strong away from the charts, too.
The Federal Reserve will have its next meeting on 7 November to decide whether to cut interest rates.
CME FedWatch data suggests a 98.9% chance of a rate cut. The last rate cut, in September, caused BTC to rally from $52K to $70K.
Moreover, the US presidential election is just six days away and is expected to be a bullish event for the crypto market.
CNBC analysts conclude that Bitcoin will reach $80K in 2024 “no matter who wins the election.”
However, the pro-crypto stance adopted by Trump would likely expedite these gains should he take office.
After creating an ATH in March, Bitcoin and the broader crypto market have struggled to stay afloat since. However, that’s all changing as Bitcoin teeters on another breakout.
This sets the stage for altcoins to soar, similar to during Bitcoin’s Q1 2024 rally.
Analysts are tipping Pepe Unchained as a big winner among altcoins. The project raised over $22 million in its presale and is creating something entirely new in the joke token sector.
Pepe Unchained might be a multi-billion dollar meme coin as presale explodes
Pepe Unchained has generated unprecedented success in its presale, reflecting a deep market interest.
What’s the project all about? It’s building an Ethereum layer 2 blockchain for meme coins.
Ethereum users face high fees and slow speeds, particularly for meme coins, where most activity occurs on the main network.
Plenty of Ethereum layer 2s are on the market to combat this, but most are focused on use cases like DeFi, NFTs, and real-world assets. Pepe Unchained is the first that will provide a home for meme coins.
The meme coin market has been on fire in recent months, with countless projects providing 10x gains or more.
Analysts believe that Pepe Unchained’s unique position as a layer 2 for meme coins could make it the next to explode.
Umar Khan from 99Bitcoins says it could provide an “easy 50x to 100x gain.”
Given that it has already raised $20 million, this would give it a valuation in the billions, instantly making it one of the top 75 cryptocurrencies by market cap.
However, considering its goal of being crypto’s home for meme coins, even that might be conservative.
Like all projects, Pepe Unchained carries risk, and only time will tell.
But there’s one thing for certain: this is a project to watch closely as Bitcoin enters uncharted territory.
For more information, visit the Pepe Unchained presale website and join the community X and Telegram for the latest updates.
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