Bitcoin fell again to a low of $56,000 as the cryptocurrency collapsed amid a fresh surge in stocks.
Many altcoins are copying this dump, including Polygon and Bitcoin Dogs. However, as the market experiences fresh downward pressure at the start of a historically tough September, most experts are doubling down on a Bitcoin rebound in the coming months.
Is this the same Polygon price prediction? What about Bitcoin Dogs token?
What do analysts say about Bitcoin (BTC)?
The latest outflows from Bitcoin exchange-traded funds, which saw a net outflow of $288 million on Sept. 3, reaching a five-day streak, illustrate the serious challenges facing buyers. But despite a tough August and a largely expected struggle in September, leading analysts remain bullish on Bitcoin’s price in the long term.
Analysts at QCP Group say that in the short term, an important indicator has worked for Bitcoin and Ethereum – the volatility momentum indicator. According to post on XThe cryptocurrency market is expected to experience increased volatility with a potential shift in dynamics towards growth.
CryptoQuant analyst Crypto Dan suggests that BTC could see a short-term rebound if market sentiment turns positive amid the Federal Reserve’s expected rate cut in September. The opposite outcome would see the flagship cryptocurrency struggle in the remaining months of 2024.
Forecasting landfill prices when MATIC switches to POL
Polygon has officially activated the migration of MATIC tokens to POL, with POL becoming the new native gas and staking token on Polygon’s PoS main chain.
The token migration is a 1:1 swap of MATIC for POL, meaning the new token retains token supply metrics such as a total supply of 10 billion.
While this is a key network upgrade that has received support from major exchanges, the price reaction has been largely muted. After soaring to a high of $0.59 in August, the price has fallen 18% in the last month to around $0.37.
In late August, Santiment analysts highlighted that despite the decline in MATIC’s price, on-chain activity suggested a potential reversal. With the daily RSI and MACD indicators suggesting that the bears are gaining the upper hand, Polygon’s price may need to recoup $0.40 for the bulls to take the stage.
0DOG Price Prediction
Bitcoin Dogs (0DOG) is a project that conducted the first ICO based on Bitcoin.
The 0DOG token has been listed on major crypto exchanges MEXC, Gate.io, and the Uniswap DEX platform. Despite a pullback from its all-time high of $0.04934 on August 22, the 0DOG price has risen more than 85% from its all-time low of $0.0063 on August 28.
Although the price has fallen by 8% in the last 24 hours and the volume has dropped by 35%, the overall outlook is positive. 0DOG is among the top five most popular tokens on Gate.io.
🔥#GateWeb3 Most Popular Review🚀
📈Top 5 most popular cryptocurrencies in 24 hours👇:
1️⃣ $DOGI +58.83%
2️⃣ $WOLF +48.72%
3️⃣ $ORDI +20.66%
4️⃣ #0DOG +18.35%
5️⃣ $SUNDOG +13.87%😝What currencies did you trade today?
😍Get into Web3👉: https://t.co/MxOahPymT7#GateWeb3 #Trending@DogiDrc20… pic.twitter.com/jn0w58zbm6
— Gate Web3 Wallet (@GateWeb3Wallet) September 3, 2024
Aside from the exciting prospect of listing on other top-tier exchanges (Binance could be a big one), there is growing enthusiasm around the Bitcoin Dogs game. The platform is also targeting the nascent Bitcoin ecosystem with an exclusive NFT project.
Combined with numerous potential bullish catalysts for Bitcoin in 2024 and 2025, the 0DOG price could recover to its ATH and reach the $0.5 target and the psychological $1 in the coming months.
You can learn more about Bitcoin Dogs here.
