After the strong rise in the overall cryptocurrency market, expectations are also rising that the performance of cryptocurrencies will further improve. Although the market recovery has not been significant, global market capitalization has surged to $2.35 trillion, and market sentiment has also improved from a low of 49 to 56, but remains neutral. Amid all this confusion about what will happen next in the crypto market, check out the most trending crypto price predictions featured on this blog.
Most Trending Cryptocurrency Price Predictions for May
After a month of weakness, the cryptocurrency market has lost all the gains it had made in the previous months. Based on the mentions of the past three Bitcoin halvings, a recovery could happen in May.
Outside of May being a historically strong month for some cryptocurrencies, these three other crypto price predictions are getting the most attention.
Bitcoin price soars to $80,000
After falling below $60,000, Bitcoin has rebounded in recent days and is currently trading at $63,405.79 at the time of writing. Analysts believed that this trend would continue for several days and the price of BTC would continue to rise. This month’s target could be $77,000, and if bearish factors are less dominant, Bitcoin will soar above $80,000. However, in contrast, if there is a bearish trend in the market, Bitcoin price could fall to a low of $54,000.
Bitcoin faced trouble breaking through the $68,200 Fibonacci pivot in April. A similar trend could push Bitcoin toward the same opportunity. Once Bitcoin crosses the R1 level of around $73,000, it will next target the R2 level of $77,000. Ultimately he will push the value towards the R3 level of $82,000.
Meme coins to rise in May
In the past 24 hours, memecoin's market capitalization has increased by 11% and trading volume has surged by 40%, suggesting that the market is showing its best recovery. Based on many similar analyzes and meme trends taking over the crypto market, his crypto price prediction speaks about the dominance of meme coins in May.
Since 2024, many high-potential meme coins have been introduced to the market, generating significant returns for investors. The list includes Dogwifhat, Popcat, Real Smurf Cat, ERC20, and more. As a result, Meme Run or Meme Season will take over the crypto industry in May, with Meme Coin potentially becoming the most profitable cryptocurrency.
Ethereum ETF waiting period extended
The last important crypto price prediction is the upcoming event of the Ethereum Spot ETF decision by US regulators. Even as the Ethereum ETF results date approaches, the SEC still hasn't given any hints. Following the success of the Bitcoin Spot ETF, the Ethereum ETF has become one of the most anticipated events for investors. However, as the debate over Ethereum's status continues between commodities and securities, the SEC is ignoring any discussion on the subject.
As the days pass, the odds of witnessing a chance of approval seem to decrease. When applications for the Ethereum Spot ETF first started, people believed this meant the deal was done, but now the chance of approval is limited to 35%.
Results are expected to be announced by the end of this month, with analysts expecting further delays. That's because the SEC has been silent for so long, and this somber atmosphere in the Ethereum ETF decision indicates a delay, not just a denial.
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