BTC Under $67k, ETH Aims At $3k, Memecoin Shows Profits!
Today, October 22, 2024, the crypto market is slightly lower amid geopolitical tensions and election uncertainty in the United States. Meanwhile, the total value of all cryptocurrencies fell by 2.2%, down to $2.34 trillion. However, the price of Bitcoin, the largest cryptocurrency, has dropped to $67k, and some memecoins are still growing and attracting the attention of many investors.
Bitcoin drops below $67k
The price of Bitcoin fell by 2.4%, it now sits at $67,160.67. Just recently, Bitcoin briefly touched $69,000 for the first time in a month, but failed to sustain momentum. Many thought the $287 million inflow into Bitcoin ETFs would boost the price, but the results have been disappointing.
One reason for this decline is the uncertainty surrounding the US presidential election. Investors worry about the outcome and are pulling out of risky assets like Bitcoin. Many are choosing safer investments like gold and the US dollar.
Ethereum wants $3,000
Ethereum has done better than Bitcoin lately. Although it was down a bit, Ethereum showed a big increase last week. As long as the price of Ethereum remains above $2,700, experts believe it may soon reach $3k or even $3.2k.
Memecoins gain strength
Memecoins are shining on the market, especially with the Fear and Greed indicator more “greed” and standing at 70. Investors are excited and think a bull run may be imminent.
Memecoins like Dogecoin, Bonk and Pepe have performed well. Dogecoin price has jumped over 15%, 14% and 8% respectively this week.
Pepe, the third largest memecoin, has a market cap of $4.22 billion and has risen 28% in the last 30 days. However, due to competition from new coins like Popcat and Nero, its growth has slowed down.
