Bitcoin at $68K: Analyzing Potential Reversal Threats; Render Competitor Expected to Jump

Institutional investors investing in Bitcoin (BTC) ETFs helped to push prices to a new all-time high (ATH) of $70,130 on March 8. The most popular cryptocurrency ever launched has doubled its market cap in the last month and over $1.2 trillion is now invested in BTC. 

Prices have pulled back to $68,430 since this historic moment as some investors sold for profits. It’s an expected turn given data from CryptoQuant recently showed that 95% of holders were in profit. Some investors are now exploring that option and it could send prices down substantially before another bull run starts. 

BTC prices are expected to reach as high as $160,000 in 2024 thanks to exchange-traded funds being created and the halving event that will occur in April. 

Emerging crypto InQubeta (QUBE) is also generating lots of bullish momentum as its presale sells over 868 million tokens valued at over $11.3 million. InQubeta is anticipated to outgrow Render (RNDR) in 2024, with some projections expecting 1,550% returns. 

Popular NFT investment crypto InQubeta (QUBE) poised for 15.5x gains when launched

InQubeta plans to open up artificial intelligence (AI) investment opportunities by creating a decentralized investment space where users secure equity and other rewards from AI startups by buying non-fungible tokens (NFTs). 

The investment opportunities being offered are minted into these ERC20 coins and perform similar roles to stocks on traditional markets. Investors purchase them with QUBE, the project’s governance token and currency, on the NFT marketplace where they can learn all they need to know about the companies offering these investment opportunities. 

The AI industry has been the beneficiary of rising investment capital in the past several years and more than $120 billion is currently funneled into it. Investments in the space are projected to surpass $1.5 trillion by 2030. 

InQubeta’s solution for those who don’t have access to mainstream investment avenues due to not being able to meet their net worth or income requirements positions it to play a major role in bringing investors and AI firms together. 

Holding on to QUBE could earn investors as much profits as investing in AI firms that end up developing useful solutions given the high interest the project already enjoys and its well-planned tokenomics. QUBE is a deflationary cryptocurrency with burn taxes to reduce the circulating supply, which is capped at 1.5 billion. 

QUBE, currently priced at $0.0245, could be worth more than a dollar before the year ends as its market capital grows. 

Is Bitcoin’s (BTC) bull run at an end?

BTC prices pulling back after setting a new ATH was expected given the vast majority were in a position to cash out for some profits. Prices will likely pull back some more as more investors cash out while others are forced to sell or lose their gains. 

However, the influx of capital into BTC through ETFs and the halving event in April will push pressure on prices to go beyond its new ATH. Some expect BTC prices to reach $75,000 during its next bull run. 

Render (RNDR) sets a new ATH

RNDR prices have grown 137% in the past month and a new all-time high was set on March 7 at $10.77. Prices have pulled back since then but have held steady above the $10 support level.

Render’s growth is attributable to its ecosystem allowing users with unused graphic processing units to monetize their computing power by renting it out. Prices could grow as much as 700% in 2024. 

Summary

BTC, QUBE, and RNDR are three of the best cryptos to invest in right now. All three will probably bring exponential returns from their current prices, but QUBE is expected to enjoy the most growth with projections anticipating as much as 1550% growth. 

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