The post Economist Hints at Further Losses for PEPE and Bitcoin (BTC), but There Is One Possible Salvation appeared first on Coinpedia Fintech News
Bitcoin (BTC) is facing one of the worst weeks in the past year as one dip led to the next, causing a massive decline in the past week. Pepe, a typical meme coin, has followed Bitcoin’s bearish lead, as the PEPE token also hit 11% losses midweek.
If expert predictions by Renowned economist and financial commentator Peter Schiff are anything to go by, Bitcoin will face more gloomy days ahead. This means that even meme coins like PEPE that rely on Bitcoin’s momentum could suffer more.
However, a new Ethereum DeFi project, RCO Finance, is keeping traders hopeful for some ROI in the middle of the bearish market.
Expert Predicts Huge Sell-Offs When Bitcoin Hits $38k
Bitcoin started the year on the front foot, and traders were optimistic about a massive bull run surge. However, the ETFs that caused the surge at the start of the year are now causing Bitcoin’s misery.
Peter Schiff, an American economist, believes more than 70% of investors who bought Bitcoin ETFs are already rueing their losses. He further hints at a huge sell-off when Bitcoin gets below $38,000.
Peter’s opinion is reflective of Bitcoin’s current market realities. At its current $57,000, the Bitcoin price is experiencing 9% and 14% weekly and monthly losses, respectively. Confidence is low, and the bearish air around Bitcoin is predicted to spark even more sell-offs and deeper price plunges.
Bitcoin Leads, Pepe Follows
The top meme coins have shown a strong correlation between their price movements and Bitcoin’s. Dogecoin and Pepe have been especially sensitive to Bitcoin’s movements, and the new Bitcoin downtrends have affected the PEPE price.
The Bitcoin halving marked a milestone for Pepe, as the token reached an all-time high value of about $0.00001725 in about a month. While Bitcoin itself only gathered modest gains in that time, PEPE was the talk of the show. The June dip across markets kept Bitcoin–and, consequently, Pepe–under for most of the month, and July is looking to follow suit.
If Peter’s forecast on Bitcoin turns out to be accurate, PEPE could plunge deeper, as the meme coin has shown to largely influence Bitcoin’s price performances, just like most altcoins in the crypto market.
This is why PEPE and Bitcoin holders are dumping their tokens for a new Ethereum DeFi project in the market, RCO Finance.
RCO Finance: Leading the Charge for Unrestricted Defi
Decentralized finance is the order of the day in the crypto-verse, and even the institution traders want in on it. RCO Finance is all for crypto trading your way, and its features all support unrestricted, personalized access to the benefits of decentralized trading.
On personalized, you get the Robo Advisor, RCO Finance’s AI/ML feature that analyzes market charts and predicts future price movements. The bonus is that you get specific entry and exit points on each trade, all tailored towards your preferred risk tolerance and trading goals.
For unrestricted DeFi access, RCO Finance offers you about 120,000 trading assets. They all cut across the various classes of digital assets, from bonds to company shares and Forex trading pairs.
The global trading market is open to you, and an extra feature is that you can access any DeFi market from any location. Rest assured, your assets are safe, as the project’s smart contract has been certified clean by leading security firm SolidProof.
Get in Profit Mode With RCOF’s Presale
There’s so much to gain from RCO Finance, both short-term and long-term. The features guarantee longevity and consistent ROI. The Robo Advisor would scale RCOF’s utility, and demand for the token would spike its value.
RCOF tokens are in their first presale stage, costing $0.0127 each. You stand to gain 3000% profits from your investments by the end of the presale. A $1,000 investment could yield as much as $30,000 by the end of the pre-sale.
The good news? It even gets better from there. After the platform goes live, analysts expect RCOF to surge upwards from the trader traffic. By then, the pumps can yield about 1000x ROI.
For more information about the RCO Finance Presale: