bullish

Bitcoin

Impact

when

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-market-experiences-rise-driven-by-meme-coins-and-political-factors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Market Experiences Rise Driven by Meme Coins and Political Factors</a><br></p>
<p style="text-align: justify">The <a href="https://en.coin-turk.com/bitcoin-price-surge-leads-to-exchange-troubles/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> has shown a bullish trend over the past week, continuing this trajectory today. The strong performance of meme coins <a href="https://en.coin-turk.com/what-should-shiba-coin-shib-investors-expect-for-the-future/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SHIB</a> and <a href="https://en.coin-turk.com/dogecoins-remarkable-surge-as-crypto-market-consolidates/" data-wpel-link="internal" rel="noopener noreferrer nofollow">DOGE</a> significantly contributed to the overall market increase.</p>
<h2 id="meme-coin-super-cycle-anticipated">Meme Coin Super Cycle Anticipated</h2>
<p style="text-align: justify">Experts believe that meme coins will have a significant impact on the market. While the prices of SHIB and DOGE have risen considerably over the past week, the total crypto market value increased by approximately 1.3%, reaching $2.33 trillion.</p>
<blockquote>
 <p>Murad Mahmudov stated, “The meme coin super cycle explains the highly favorable market conditions for the growth of meme-focused cryptocurrencies.”</p>
</blockquote>
<p style="text-align: justify">According to a report from BDC Consulting, there is a high correlation of 0.87 between the movements of the meme coin market and Bitcoin . This indicates that as Bitcoin rises, meme coins can quickly gain value in parallel.</p>
<h2 id="could-bitcoin-s-rise-impact-microstrategy-s-stock-prices">Could Bitcoin’s Rise Impact MicroStrategy’s Stock Prices?</h2>
<p style="text-align: justify">Benchmark analyst Mark Palmer is optimistic that MicroStrategy’s stock price could rise further in the near term. Palmer set a target price of $245 per share, indicating significant upside potential from the current price of $206.</p>
<blockquote>
 <p>Mark Palmer noted, “MicroStrategy’s ongoing Bitcoin acquisition strategy strengthens the company’s market position when Bitcoin prices rise.”</p>
</blockquote>
<p style="text-align: justify">MicroStrategy’s stocks are trading at a 2.3x premium compared to the net asset value of its Bitcoin portfolio. As of September, the company holds over 250,000 BTC, with these assets valued at approximately $17.3 billion.</p>
<h2 id="election-and-crypto-voter-block-among-factors-for-market-growth">Election and Crypto Voter Block Among Factors for Market Growth</h2>
<p style="text-align: justify">The use of cryptocurrencies on the Polymarket platform during the U.S. presidential elections has drawn attention. A user named “Fredi9999” invested over $20 million in pro-Trump bets.</p>
<p style="text-align: justify">As election day approaches, concerns about potential manipulation in decentralized prediction markets have increased. According to a new survey by Digital Room, 26 million voters in the U.S. are considering voting to support crypto-friendly policies.</p>
<blockquote>
 <p>Digital Room reported, “There is a strong consensus that the crypto industry should be a moderate priority for the new president and Congress.”</p>
</blockquote>
<p style="text-align: justify">16% of surveyed voters rated cryptocurrencies as “extremely” or “very” important when voting, and voters from both parties indicated a higher likelihood of voting for candidates who support crypto-friendly policies.</p>
<p style="text-align: justify">Ultimately, the increased presence of cryptocurrencies in the political arena is bolstering investor confidence, supporting upward movements in the market.</p>
<p>The post <a href="https://en.coin-turk.com/crypto-market-experiences-rise-driven-by-meme-coins-and-political-factors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto Market Experiences Rise Driven by Meme Coins and Political Factors</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Crypto Market Experiences Rise Driven by Meme Coins and Political Factors

Table of Contents

COINTURK NEWS

Other articles published on Oct 19, 2024

ChatGPT Predicts the Top-Growth Altcoin for the Bull Market—The Outcome Is Unbelievable! AI Choos...

Bitcoin Price Prediction: As SEC Approves BTC ETF Options Trading For NYSE And CBOE, Investors Fl...

XRP Price Movement Forecast to 2025: Is Diversifying with New Alternatives the Right Move?

Top Crypto to Invest in Right Now October 19 – MultiversX, Worldcoin, Sei

Paxos Launches Yield Bearing Wrapped $USDL on Injective

Solana Price Breakout: What's Next for SOL?

Join our free newsletter for daily crypto updates!