As the highly anticipated Bitcoin halving event approaches, the crypto market remains in a state of uncertainty. Despite being a crucial time for the industry, the global market cap has decreased to $2.29 Trillion, with a trading volume of only $89.18 Billion. These numbers reflect the worst performance since February, leaving many investors feeling fearful about the future.
But amidst the chaos, there is also opportunity. As we wait to see which cryptocurrencies will thrive and which will falter after the halving, it’s important to be strategic and make the most of the market conditions. In this blog, we will discuss five cryptocurrencies that are likely to lose their value after the Bitcoin halving, allowing investors to sell at the right time.
Cryptocurrencies To Sell Before The Bitcoin Halving:
With millions of cryptocurrencies in the market, it can be challenging to determine which ones will be the most profitable. However, by analyzing their long-term performance and the impact of the previous Bitcoin halving, we can identify the ones that are likely to decline.
1. PEPE:
PEPE, a meme coin, gained immense popularity when it was launched, resulting in a massive surge in price to $0.00000378. However, this hype was short-lived, and the coin quickly plummeted to the ground. Despite its current growth, with a 9145.22% increase, PEPE’s downward trend began at the start of this month, and the price is now at $0.000005223 after a 30.05% decline in just a month.
2. Mantle (MNT):
Although MNT has only been in the crypto market since August 2023, it quickly surged to its peak value of $1.51 on April 8. However, it is now in a downward trend, with a 12% loss within a week and a current trading value of $1.16. Analysts predict that the Bitcoin halving might negatively impact altcoins in the coming days and months, and MNT is likely to lose its value over time.
3. BONK:
BONK, a meme coin, has been consistently underperforming, with a 43% decrease in price over the past month. While it is not at its lowest point, the current value of $0.0000145 is significantly lower than its all-time high of $0.00001504, indicating a potential end to its trend. As the market experiences correction pressure after the halving, BONK is likely to continue falling.
4. Render (RNDR):
RNDR’s token price has been on a continuous decline, with a 30% decrease in just one month. The current price of $7.90 is a 45% decrease from its peak value of $13.60, achieved barely a month ago. This significant drop is twice the previous all-time high, and the token has continued to decline since then. With the expected volatility due to the Bitcoin halving, RNDR may not be able to sustain its gains and could end up in a bear zone.
5. SKALE (SKL):
SKL has also been heavily impacted in recent days, with the price fluctuating up and down and a consistent 18% loss within a week. Despite a surge in popularity in 2021, with a high of $1.22, its current value is now 92% lower. Since May 2022, SKL has been stuck in a downward trend, unable to break out of its current zone.
In conclusion, it is difficult to predict how the Bitcoin halving will affect the rest of the altcoins. However, it is expected to increase the demand for Bitcoin, ultimately benefiting the entire crypto market in the long run. In the immediate aftermath of the halving, there may be market volatility, making it crucial for investors to have a well-defined strategy to navigate uncertain conditions. For more information, check out our blog on 5 Altcoins That Might Recover Before The Bitcoin Halving.
