After a significant surge in the overall crypto market, the expectations are also rising to see a much better performance from cryptocurrencies. Though the market’s recovery isn’t very huge, the global market cap has surged to $2.35 Trillion, and the market sentiments have also improved from a low of 49 to 56 but still being neutral. Among this confusion over what’s coming next for the crypto market, check out the most trending crypto price predictions covered in this blog.
Most Trending Crypto Price Prediction For May
After a slow month, the crypto market has lost all the progress it had in the previous months. A recovery might happen in May based on the last three Bitcoin halving references.
May has been historically well for a few cryptocurrencies, but other than that, these three other crypto price predictions are getting the most attention.
Bitcoin Price To Surge To $80,000
After a decline below $60K, Bitcoin has made a recovery in the last few days, where at the time of writing, it is currently trading at $63,405.79. The analysts believed this trend to continue for a few days, causing sustained upward price movement for BTC. A target of $77,000 might be seen this month, and if the bearish factors were less dominant, Bitcoin would surge above $80,000. However, in contrast, the Bitcoin price might fall to a low of $54K if the bearish trend entered the market.
Bitcoin had faced issues in April to breach the Fibonacci pivot at $68,200. A similar trend might push Bitcoin towards the same opportunity. Once Bitcoin surpasses the R1 level of around $73K, it will target the $77K mark next on the R2 level. It will eventually push the value towards the R3 level of $82K.
Meme Coins To Rally In May
In the last 24 hours, the meme coins market cap has increased by 11%, whereas the trading volume has surged 40%, implying the best recovery in the market. Based on many similar analyses and meme trends taking over the crypto market, the crypto price predictions are talking of meme coin dominance in May.
Since 2024, many highly potential meme coins have been launched in the market, offering investors huge gains. The list includes the Dogwifhat, Popcat, Real Smurf Cat, ERC20, and others. As a result, a meme run or meme season might take over the crypto industry in May, where the meme coins will become the most profiting cryptocurrencies.
Extending Wait Periods On Ethereum ETF
The last important crypto price prediction is the upcoming event of Ethereum Spot ETF decisions by the US regulators. Despite the closeness of the Ethereum ETF result day, the SEC has still not indicated any hints. The Ethereum ETF has become one of the most awaited events in the eyes of investors after the Bitcoin Spot ETF’s success. However, with the ongoing controversy over Ethereum’s status between commodity and security, the SEC has ignored any discussion on this topic.
With each passing day, the probability of witnessing approval’s chances seems to decline. At the start of Ethereum Spot ETF applications, people believed it to be a done deal, but now the chances of approval have been limited to 35%.
As the result will be out by the end of the month, analysts are predicting for more delays in this case. It is because the SEC has been quiet for a long time, and such a harsh atmosphere in Ethereum’s ETF decision indicates a delay, not just a rejection.
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Read More: Trending Crypto Price Prediction For May | CoinGape
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