BTC price, Cardano price
Bitcoin sentiment is taking a serious hit as the BTC price falls to six-week lows. Could this be the bottom or may the Bitcoin price keep falling?
Investors are shifting their attention to newcomer, Rollblock which has already raised just shy of $1 million in their presale. Seen to be a hot new crypto, analysts expect Rollblock to rise 880% during presale and 100x after launch.
Let’s see what’s next for Bitcoin, Cardano, and Rollblock.
BTC price feels the bearish squeeze
This week was rough for Bitcoin as its price dropped below $60,000 for the first time since May. The market showed strong bearish trends, and over the past week, BTC lost 6% of its value. Despite the downturn, trade volume stayed modest amid heavy selling pressure.
The Mt. Gox repayment announcement is a major factor in this drop. The defunct exchange plans to distribute $9 billion in Bitcoin and Bitcoin Cash starting in early July, causing market jitters about an influx of supply. Market worries about the repayment's influx of Bitcoin are likely pushing beneficiaries to sell their coins, aiming to capitalize on significant gains over the last decade.
Broader market sentiment is also driving Bitcoin's decline. Experts note a market mood shift, with Bitcoin no longer tracking the Nasdaq, which recently hit record highs.
Analysts warn that Bitcoin could experience further declines, potentially reaching $50,000 or lower. Some predict an 8%-12% correction toward $60,000, a forecast already partially fulfilled with Bitcoin's current price at $61,375.
Cardano price crash: ADA's dramatic decline
Cardano price has been in a slump, marking its fifth week of decline, recently falling under $0.40. While there's been a small weekly gain (0.28%), the past month has seen a nearly 15% drop.
The sentiment surrounding ADA is low. Trading volumes are dwindling, and persistent selling pressure has pushed the price below key moving averages. Earlier this week, Santiment even identified ADA as one of the most heavily shorted altcoins, alongside XRP, after brief upward bounces.
But there's a glimmer of hope for long-term investors. Analysts point out that heavy shorting can be a double-edged sword. If those short positions get liquidated, it could act as rocket fuel for future price increases. Additionally, Cardano's development activity remains strong, with ongoing projects and upgrades planned for the future. This could attract investors who believe in the platform's long-term potential.
However, the short-term outlook is still bearish. Market watchers are keeping a close eye on ADA's support levels and overall market sentiment. For now, caution is advised for traders.
A new dawn in online gaming: Rollblock shakes up the industry
While Bitcoin takes a breather, investors are turning their attention to exciting contenders like Rollblock (RBLK) for potential rebounds, but Rollblock offers more than just a recovery play; it's poised to change the online iGaming industry.
Rollblock stands as a pioneer in the world of GambleFi, a unique blend of decentralized and centralized gaming. Players get a stake in the house through RBLK tokens, which translates to a share of the platform's weekly revenue.
Every transaction is permanently recorded and verifiable, ensuring a fair and trustworthy experience for all players. This level of transparency, combined with a secure and user-friendly platform, sets Rollblock apart from the competition.
But the benefits go beyond just fairness. Owning RBLK unlocks a treasure trove of rewards. Holders enjoy exclusive bonuses, cashback perks, and a share in the casino's profits. Rollblock goes further with instant buybacks and burns to support the token price, competitive odds, and superior liquidity compared to traditional casino platforms.
RBLK is a gateway to a more rewarding gaming experience. The token serves as a loyalty mechanism, incentivizing player activity and fostering a strong community. Additionally, a portion of casino revenue is used to buy back RBLK tokens, further solidifying its value and contributing to the platform's economic stability. Future plans include expanding RBLK's utility through partnerships, staking options, and more.
Summary
Excitement is brewing around Rollblock's ongoing presale, with analysts predicting an impressive 880% rise during the presale and a potential 100x increase upon launch. This could be the hot new token to keep your portfolio in the green this hot season!
Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!
Website: https://presale.rollblock.io/
Socials: https://linktr.ee/rollblockcasino
