A top cryptocurrency analyst has voiced his two cents about Bitcoin’s (BTC) future price action after the recent crash, suggesting a reversal might be imminent based on readings of the asset’s Relative Strength Index (RSI) indicator.
In the event of this rebound, altcoins will most likely follow suit, recuperating from the losses incurred amid the market-wide collapse. One altcoin to focus on during the market’s recovery phase is RCO Finance (RCOF).
Read to find out why RCOF is in the spotlight.
Analyst Highlights Factors That Could Trigger A Bitcoin Rebound
Crypto veteran and X user Benjamin Skew shared a historic chart highlighting instances where Bitcoin fell below the 25 range of the Relative Strength Index (RSI) indicator.
The chart shared in the August 5 tweet showed that Bitcoin last visited the 25 regions in October 2023. At the time, the flagship crypto traded for $24,710.
During the recent crash, BTC lost 30% of its market value, gradually sliding from $70,000 on July 29 to $49,000 on August 5. This price level marked its lowest since February 2024. Meanwhile, traders are curious about when Bitcoin will likely regain upside momentum.
Experts responding to this inquiry have outlined certain metrics that may affect BTC’s expected rebound. One is the depletion of open interest, which creates an equilibrium between buyers and sellers in the futures market.
Another is that the market price of BTC matches its realized price, suggesting growing activity on the Bitcoin network.
A crypto enthusiast commenting on Benjamin’s tweet enquired if Popcat will lead the charge in the meme sector. The expert replied that it is possible if the meme sector is manageable. Nevertheless, he believes BTC and ETH’s next move will determine what happens to altcoins and meme coins.
Bitcoin now trades at $54,018 after a 7.12% decline. The price’s reaction in subsequent trading sessions remains to be seen.
Will RCO Finance Lead The Altcoins Surge?
While Popcat is forecasted to lead the meme sector’s recovery, the altcoins market is looking to a new Ethereum project to spearhead its comeback.
RCO Finance, a new crypto project leveraging Ethereum blockchain capabilities, is making significant rounds in the crypto sector. One reason it attracts so much noise is its adoption of artificial intelligence components.
With artificial intelligence becoming increasingly popular in the crypto sector, RCO Finance is harnessing its potential through a robo-advisor, an AI-powered online application.
RCO Finance’s robo advisor offers personalized investment advice to investors and aids in developing portfolios compatible with their financial goals and risk tolerance. It provides AI-powered predictions and insights, enabling investors to make well-informed trading decisions.
Another feature of RCO Finance is its broad-gauged offerings, which range from cryptos to stocks, shares, derivatives, exchange-traded funds, and real-world assets. Notably, the platform contains over 120,000 digital assets within 12,500 asset classes. Users can trade these assets with reduced fees and up to 1000X leverage.
Its onboarding process does not require KYC, which is a move to foster privacy. Blockchain security firm SolidProof frequently vets RCO Finance’s security for lurking vulnerabilities and loopholes. The platform also issues a debit card to facilitate transactions with local banks.
RCO Finance also gives users 24/7 market coverage, allowing them to take advantage of opportunities as they present themselves. Users will enjoy such services as low-interest loans, subsidized trading fees, and high yield on staking. They may also provide liquidity to trading pairs, for which reward is distributed.
RCOF Eyes Presale Stage 3
RCOF is lunging towards Stage 3 of its public presale. This will push its price from $0.0343 to $0.0558, culminating in a 75% gain. In the subsequent stages, however, investors will realize massive profits.
The token will list between $0.4 and $0.6 at launch, indicating a 1,870% increase in its current value. Therefore, a $1,000 investment in RCOF’s presale, at the current price, can yield over $18,000 when the token launches.
The best part about buying into RCOF is that investors need not worry about the state of the market as the token remains immune to the ongoing bearish influence.
For more information about the RCO Finance Presale:
Join The RCO Finance Community
Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.