Bitcoin (BTC) Volatility, Ripple (XRP) Price Predictions, and More: Bit Roundup March 28
Bitcoin (BTC) has experienced increased volatility and is currently trading just below the $70,000 mark. Despite a 10% drop on a two-week scale, analysts remain bullish on Ripple (XRP), predicting significant future gains influenced by the upcoming Bitcoin halving and the outcome of the Ripple lawsuit against the SEC. Dogecoin (DOGE) saw a 30% price increase in one week, coinciding with a significant transfer of over 1 billion DOGE by an unknown whale.
The last few days have been quite hectic for the Bitcoin price. The main cryptocurrency started the week trading around $66,500, but several hours later, it shot above $71,000. The surge came shortly after Robert Mitchnick, BlackRock’s digital assets leader, described BTC as a good portfolio diversifier.
The cryptocurrency maintained its momentum in the following days, hovering around the $70,000 level. The positive trend changed on March 27 when its price fell to $68,500. The asset witnessed another rally in the past few hours, currently trading at almost $70,000, according to data from CoinGecko.
The community remains optimistic that another, more substantial increase, is on the horizon. A recent survey started by popular user 18% believe this could happen in 2025, while less than 5% predicted the asset’s price will never rise that much.
How Is Ripple (XRP) Doing?
The Ripple token has underperformed in recent days, with its price down 10% on a two-week scale. However, as usual, pro-XRP analysts are unfazed by the negative trend and predict an impressive resurgence in the near future.
User X Mikybull Crypto imagined a rally between $1 and $6 based on the assumption that the asset “has concluded its retest and is now preparing for an explosive upward move.”
Financial expert and investor Vandell AlJaraah also gave his two cents, stating that investors should not sell their XRP holdings as “we are at the beginning of a bull cycle, with the altcoin season yet to peak and “Bitcoin halving.”
“Understanding market cycles is essential to making prudent investment decisions. We haven’t even started. The peak will be from 2024 to 2025,” he added.
The halving, scheduled for next month, will halve the rewards received by miners for validating blocks on the blockchain, thereby reducing the creation time of new coins. The event will make BTC scarcer and potentially more valuable in the future. Historically, it has been followed by a massive bull run for the leading cryptocurrency and the entire market.
DOGE Rally
Dogecoin (DOGE) has been on a roll lately, as its price has increased by 30% in a week, coinciding with greater whale activity. As Crypto Potato reported, a mysterious person (or entity) recently transferred over 1 billion DOGE (worth over 195 million at the current exchange rate) to an unknown wallet.
Some DOGE advocates applauded the move, assuming this could be a precursor to another substantial price increase. Others wondered who could be behind the transfer, with some suggestions pointing to Tesla CEO Elon Musk.
The richest man in the world is an enthusiastic defender of the meme currency and frequently praises its merits. Two weeks ago, he said that Tesla could accept DOGE as a payment method “at some point.” Musk also promised to continue supporting the token, adding “Dogecoin to the moon.”
Currently, the asset is trading just below the $0.20 mark, with some analysts predicting a rise to the $1 milestone.
By Leonardo Perez