Bitcoin, the largest crypto asset by market cap, recently bounced back from a selloff that brought its price down to $53,000. It is now hovering around $64,000. However, one analyst warns that it is not out of the woods and predicts another dip to around $50,000 in September.
While BTC prepares for another shakeout, presale meme coin MoonTaurus is set to soar, with early investors set to realize a 1400% return on its first day in the market.
Should Bitcoin Holders Prepare for Another 20% Drawdown?
In a recent interview, Florian Grummes, Managing Director of Midas Touch Consulting, predicted that Bitcoin could revisit the $50,000–$55,000 zone by September or October. With Bitcoin currently holding above $64,000, a dip to $50,000 would mean a 22% correction.
Grummes points to the upcoming Mt. Gox repayments as a key factor. The infamous Bitcoin exchange, which went bankrupt in 2014, is set to begin repaying 140,000 BTC to its creditors in July. He believes this influx of BTC into the market will cause volatility, likely driving the price down as recipients rush to sell their assets.
Earlier this month, Bitcoin experienced another drawdown when the German government sold off $2.9 billion worth of BTC. This correction found support at $53,500. Grummes expects a similar trend, with Bitcoin dipping to the $50,000–$55,000 range, which he believes will set the stage for a rally towards $100,000.
MoonTaurus to Deliver a 1400% ROI on Day 1
As Bitcoin prepares for another shakeout, presale meme coin MoonTaurus has piqued investor interest, promising at least 1400% returns on its first day on the market. The meme coin is priced at $0.005 in the first stage of its recently launched presale campaign. The presale follows a dynamic pricing model, with prices gradually increasing. For instance, a 100% increase is scheduled at the beginning of stage two. This price increase corresponds to rising demand and diminishing presale token allocation.
MNTR’s launch price on decentralized exchanges will be $0.07, ensuring presale stage one investors a 14x return. Experts predict that MoonTaurus will reach $1 before the end of the 2024 bull run, delivering 200x returns similar to Dogecoin during the 2021 bull run. This bullish prediction has attracted former Dogecoin and Shiba Inu whales looking to profit from what some analysts call ‘the next DOGE.’
MNTR is a bull-themed meme coin with a total supply of 3 billion tokens. 40% of these tokens are up for grabs in the ongoing presale, giving early supporters a chance to get in before the project takes off. The MoonTaurus team also runs a strong marketing campaign, including partnerships with artists and top influencers to get the word out. According to their 3-phased roadmap, MNTR aims to list on premier exchanges and achieve a $1 billion market cap by the final stage.
Bitcoin has been trading within a range for several months, and this trend may continue as Mt. Gox starts repaying its creditors. With up to 140,000 BTC hitting the market, we could see Bitcoin’s price dip to the $50,000–$55,000 range.
Meanwhile, the new presale meme coin MoonTaurus is set to deliver at least 14x returns upon launch. Furthermore, experts believe it could skyrocket to $1, yielding a 200x return on current prices. The first stage of the presale is nearly sold out, which means there is not much time left to get in before the project takes off.
Website: https://moontaurus.com/
Linktree: https://linktr.ee/moontaurus
