Bitcoin is turning heads as its price pumps 14% this week, currently trading at $43.8K. But with the halving still 140 days away, its recent trajectory has surprised some analysts.
Meanwhile, the altcoin market is thriving as Bitcoin dominance falls. Three upcoming projects are expected to explode in the coming weeks. They are TG Casino, Wall Street Memes, and Bitcoin Minetrix.
Bitcoin Price Driven by Exploding Bullish Sentiment
In its simplest terms, Bitcoin’s recent price hike is driven by growing market sentiment. Mainstream media outlets, retail crypto traders, and even more conservative investors and savers have woken up to Bitcoin breaking its downtrend after climbing 158% this year.
X commentator RVCrypto highlighted this in a recent tweet. The analyst explains the cycle between bull and bear markets and its relation to investor sentiment and liquidity.
Essentially, Bitcoin’s recent increase has bolstered market sentiment and attracted sidelined capital, with investors confident that Bitcoin’s upcoming trajectory is bullish.
Mainstream media coverage is also playing a pivotal role in Bitcoin’s price action, with Bitcoin-related articles now depicting its recent strength, re-establishing a sense of legitimacy after a drawn-out bear market.
However, RektCapital highlighted that Bitcoin is significantly outperforming its past market cycles’ price action, so what could be causing this?
The most impactful factor driving Bitcoin’s price is the upcoming Bitcoin ETF approvals. Leading asset managers like BlackRock, Grayscale, and Ark Investments have applied for these ETFs, and market consensus says they will be approved in January.
There are many reasons for the market’s confidence on the matter, the first being that BlackRock boasts a track record of 575 approvals to 1 denial in its previous ETF applications.
Meanwhile, the more recent pump can be attributed to advancements in the ETF applications. A recent report by Reuters notified readers that talks between ETF issuers and the SEC have advanced to key technical details, a sign the agency may soon approve the products.
Should the SEC approve the Bitcoin spot ETFs, the world’s leading financial institutions will have regulated and trusted access to Bitcoin and be able to offer it to their clients. This is expected to drive significant liquidity inflows to the crypto market and explains why Bitcoin is pumping, with investors expecting higher prices following the ETF launches.
With that in mind, let’s look at three cryptos that could outperform Bitcoin in the upcoming bull rally.
TG Casino is a Telegram-based crypto casino that enables users to gamble anonymously and securely. It is currently undergoing a presale, having raised $3.6 million in ten weeks.
Telegram-based crypto projects have boomed recently thanks to the platform’s well-suited advantages, like a seamless user interface, end-to-end encryption, and over one billion users.
This gives TG Casino the perfect platform to launch on, with notable advantages over current crypto casinos.
Furthermore, the platform is KYC-free, making getting started much faster and protecting users’ privacy.
The platform offers hundreds of games and sportsbook events to gamble on, and the $TGC token offers benefits like free rewards, 25% cashback on losses, a 169% staking APY, access to exclusive games and rooms, and up to a 200% rakeback bonus.
This will likely drive significant demand for the token, helping bolster its price. Furthermore, the project features a compelling buyback mechanism that repurchases $TGC tokens from the open market with a portion of the casino’s revenue. It will allocate 60% of tokens to staking rewards and burn 40%.
These factors have massively excited market analysts, with renowned influencer Eric Cryptoman suggesting it could be a “huge runner” once it launches on exchanges.
Wall Street Memes
Wall Street Memes is another crypto that looks set to significantly outperform Bitcoin in the upcoming bull market. It is a trending meme coin with backing from Elon Musk and a vast community.
The meme coin market has significantly pumped recently, with cryptos like Pepe and Bonk seeing liquidity inflows totaling hundreds of millions of dollars this month. Notably, Bonk is up over 1000% in the past month, while Pepe is also up massively in recent months.
However, Wall Street Memes is just beginning to show signs of a breakout, meaning this could be the perfect time to buy.
Currently, the project holds a $46 million market cap and is 69% from its all-time high, presenting significant room for growth. The price has begun to rally recently, up 12.9% in the last week.
Wall Street Memes project rose to prominence earlier in 2023, becoming one of the year’s hottest presales after raising over $25 million in four months.
Its success could be attributed to its countless social accolades, with one of the most impressive being that Elon Musk has engaged with its X account several times.
The project also boasts an enormous community of over one million followers across all platforms.
The last project that looks primed to outpace Bitcoin in the upcoming bull rally is Bitcoin Minetrix. This project offers one of the most promising use cases of all new cryptocurrencies.
Simply put, Bitcoin Minetrix enables anyone to mine Bitcoin effortlessly. It works by users staking $BTCMTX tokens for Bitcoin mining credits, which they can exchange for cloud mining power.
With no hardware, technical expertise, or overhead costs required from the user, Bitcoin Minetrix is a viable option for anyone looking to earn Bitcoin without the extra baggage. It is also ideal for beginners, essentially democratizing Bitcoin mining and bringing it to the masses.
$BTCMTX’s central role in the operation hints at significant demand potential, with users needing it for staking. Meanwhile, many tokens will be locked in the staking contract, and rewards are primarily paid out in mining credits, not $BTCMTX.
This means the supply will be limited, which could cause its price to explode. YouTuber No Bs Crypto predicts it could 50-100x.
The project is currently undergoing a presale, raising over $5 million in nine weeks.
Market participants can buy $BTCMTX for $0.0121, but this will incrementally rise throughout the presale, with the next increase in three days.