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Aptos up 100% in the past week! Can APT reach $50?

Aptos managed to increase by more than 100% in the past week. With prices reaching $16, can APT reach $50 in the next phase? Let’s analyze.

The crypto market is getting up on its feet. The year 2023 is starting on a positive note, as most cryptos managed to increase by more than 20% in the past week. However, during that same time frame, Aptos managed to increase by more than 100%. With prices reaching $16, can APT reach $50 in the next phase? Let’s analyze

What is Aptos Crypto?

Diem, Meta’s unsuccessful stablecoin network, was replaced technologically by the smart contract platform Aptos. It is a Layer 1 blockchain that makes use of the Move smart contract programming language. Aptos Labs, a blockchain business established by two former Meta workers, is naming the project.

Proof-of-stake is the basis for the Layer 1 blockchain’s consensus algorithm. The simultaneous processing of transactions provided by the programming language Move potentially enables a transaction rate of up to 100,000 per second. Mo Shaikh and Avery Ching, two former Meta programmers, are the minds behind the project, which is regarded as the technological offspring of the Diem network, which Meta earlier abandoned.

Why is Aptos Crypto Price UP?

The entire crypto market seems to be going on an uptrend. Aptos specifically reached its low price of around $3 before starting to redress with the crypto market in 2023. Since then, prices managed to increase by more than 5 times within less than a month.

Aptos Price Prediction: Can APT reach $50 in 2023?

If things continue as they are, Aptos cryptos shoudn’t have a problem reaching $50. This would mean a further increase of x3 from current prices. This means also that Bitcoin would reach a price area between $40,000 and $50,000, which most analysts predict by the end of the year.

However, it is crucial to keep stop-loss triggers active in case negative fundamentals do occur.

How to Buy Aptos Crypto?

There are many good exchanges that offer Aptos crypto. We at CryptoTicker compiled a list of the most reliable exchanges. In today’s turbulent crypto market, one must always make sure to deal with a trusted exchange.

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Source: Altcoin

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4 bearish factors for Bitcoin this week

The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar Bitcoin might give up some of its 2023 gains on a hawkish Fed All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening The Federal Reserve’s monetary policy decision is scheduled this week. It is the […]

The post 4 bearish factors for Bitcoin this week appeared first on CoinJournal.

  • The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar
  • Bitcoin might give up some of its 2023 gains on a hawkish Fed
  • All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening

The Federal Reserve’s monetary policy decision is scheduled this week. It is the first time the FOMC (Federal Open Market Committee) meets in 2023, and the stakes are high for the US dollar.

Bitcoin has strengthened against the US dollar in January so far, in sync with other fiat currencies. Therefore, whatever the Fed decides on Wednesday will affect Bitcoin price too.

A hawkish Fed may turn up being bearish for Bitcoin. These are the four areas where the Fed may express its hawkishness: inflation outlook, growth outlook, interest rates level, and quantitative tightening.

Inflation outlook

The Fed is committed to bringing inflation to its 2% target. This is why it has raised rates so aggressively, so if the Fed says that inflation is embedded and upside risks remain, then the US dollar should move higher.

In this scenario, the market will bet that the Fed sees ongoing rate hikes as appropriate.

Growth outlook

The currency stance is that a sustained period of below-trend growth is likely. If the Fed changed its view and sees recession required to have a material impact on the inflation outlook, that would also trigger a sharp move higher in the dollar.

Interest rates

Ultimately, it is all about the interest rate level. The funds rate range has reached 4.25%-4.50%, and all eyes are on what the Fed does and says on Wednesday.

The base case scenario is that the Fed will hike by 25bp and says that ongoing interest rate increases are appropriate. Therefore, anything more than that should be bullish for the dollar and bearish for Bitcoin.

For example, the Fed might hike 50bp. This is a risk going into the meeting, especially considering that inflation is not backing down as fast as initially thought.

Quantitative tightening

The Fed currently shrinks the balance sheet at a pace of $95 billion/month. A decision to accelerate the balance sheet reduction would be very hawkish for the dollar.

The post 4 bearish factors for Bitcoin this week appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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