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Wall Street investment bank Morgan Stanley says Bitcoin could top the list as investors diversify into new cryptocurrencies on decentralized exchanges like Uniswap, especially speculative memecoins. I believe.
Heading into June 2023, the Bitcoin price is up about 100% from its November 2022 low of just under $15,500.
Wall Street Bitcoin Price Prediction
A bearish price forecast was released as an update this week. forbes The article titled “The Game Might End” mentions Bitcoin and Ethereum.
Morgan Stanley Crypto Analyst Sheena Shah said:
At the peak of the 2021 cryptocurrency bull market, Bitcoin price was inversely related to the pace of new token listings.
The number of new cryptocurrencies created and listed on the Uniswap exchange has doubled in the past month, a pattern that has become more common around market highs since 2020.
The original article also covered Paul Tudor Jones’ bearish Bitcoin price forecast – Hedge fund manager says Bitcoin may become unpopular as an inflation hedge for investors as inflation drops to levels said there is Lowest interest rate in 2 years in the United States.
Furthermore, Bitcoin still has a “real problemadded Paul Tudor-Jones.
Investing in Bitcoin vs Investing in New Cryptocurrency Assets
Bitcoin price fell below the $27,000 level earlier today and the Bitcoin market cap is now at $522 billion.
Returning to the all-time high of the last crypto bull market ($69,000 in November 2021) would see Bitcoin price rise 2.5x.
For traders interested in short-term price speculation, especially as early investors, buying a new Uniswap coin often exceeds its rate of return within minutes. New initial coin offering (ICO) will start with a low market capitalization.
Pepe’s price has surged over 100,000% since its launch in April 2023 and has dominated the headlines of crypto news. new york magazine He even wrote that similar memecoins such as $PEPE and $SPONGE “are causing problems for Bitcoin.”
Like Pepecoin this year, memetic tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB) have yielded the most returns to investors who entered and exited at the right time during the 2021 bull market.
Dogecoin, Shiba Inu or Pepe next?
Yahoo Finance Earlier this week, Coinbase’s former CTO pointed out that he had given up on his bullish forecast for the Bitcoin price ($1 million in 90 days). This prediction was a viral one he made in March.
He also highlighted several new cryptocurrency ICOs where profits of several thousand percent are “not uncommon”.
Alongside $SPONGE, $COPIUM was chosen. Here are two of his coins that we reviewed. best memecoin articles.
If Wall Street and Forbes are correct that “Investor attention is skyrocketing from BTC to newer crypto assets as traders try to maximize profits,” then these tickers are worth watching. It could be 2 brands.
We also reviewed AiDoge, a new meme token ICO scheduled to launch later this quarter. Raised over $10 million in a seed round of funding.