HomeCrypto NewsJPMorgan maintains cautious stance on Bitcoin and Ethereum as KangaMoon pre-sale heads...

JPMorgan maintains cautious stance on Bitcoin and Ethereum as KangaMoon pre-sale heads toward $7 million

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By Sponsor

The KangaMoon team collects recent comments from JPMorgan analysts on Bitcoin’s short-term price trajectory, while promoting its project in the token pre-sale phase.

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Amid the current price rally, Bitcoin, the leading cryptocurrency, fell back within the $62,500 range, with other cryptocurrencies recording massive declines. JPMorgan made headlines with its analysis, maintaining a cautious stance on Bitcoin and Ethereum in the near term, and suggesting there are no immediate catalysts for bullish price moves. Meanwhile, KangaMoon (KANG) reaches over USD$6.5 million in funding amid its ongoing pre-sale.

JPMorgan says Bitcoin remains bearish in the near term

Wall Street giant JPMorgan has maintained a cautious stance on the cryptocurrency market, suggesting that there are no immediate catalysts to justify bullish moves in the Bitcoin market. The bank based its sentiments on recent Bitcoin ETF outflows and increased regulatory pressures from the US SEC, which have had an effect on the market level of greed and fear, taking it to the area of ​​55 which reflects a neutral posture.

JPMorgan remains cautious, even after the Bitcoin price will increase briefly due to the launch of the Hong Kong ETF. In any case, the bank sees mixed signs of upside potential for Bitcoin and the market in the long term. Discerning traders might consider buying the Bitcoin cryptocurrency taking advantage of the recent drop and holding it for potential returns in the future.

Ethereum Price Trailing BTC: Short-Term Holders Control the Market

After the Bitcoin halving, Ethereum, the second leading cryptocurrency by market capitalization, has lagged behind, showing weak price dynamics in the market. I agree with you Glassnode data, Ethereum price struggles to achieve the capital turnover trends recorded in previous cycles. The BTC-ETH price analysis has sparked interpretations and interest in the cryptocurrency market dynamic.

Ethereum price has seen a deeper decline than BTC, showing a relatively weaker performance that has been imminent in the last two years, demonstrating a moderate ETH/BTC ratio. Additionally, the Ethereum coin has seen a massive influx of short-term holders, reflecting recent interest from new investors. While Ethereum’s price continues to lag that of Bitcoin, Cathie Wood, CEO of Ark Invest, is optimistic that Ethereum can surpass BTC’s market capitalization in the near future, thus becoming a cryptocurrency to watch closely now. .

KangaMoon pre-sale on track to reach $7M in revenue funding

As Bitcoin and Ethereum continue to navigate the market, KangaMoon is looking to strategically position itself for success. The pre-sale cryptocurrency has attracted the attention of the general public in the cryptocurrency market. For context, KangaMoon has raised over $6.5 million during its ongoing pre-sale.

Furthermore, the memecoin project has amassed over 23,000 registered users and over 6,000 holders, suggesting that KangaMoon could have potential in the market. Basically, KangaMoon aims to access the iP2E gaming industrywhose value is expected to increase in the long term, so the KANG token could potentially opening up this market for its incumbents.

The platform will launch a vibrant P2E ecosystem where holders will be able to participate in fun-filled challenges and tournaments and, as a result, earn rewards and prizes in the form of KANG tokens and rare NFTs. Users will upgrade their Kangaverse characters and purchase them in-game on the market with the KANG token.

What’s more interesting is that KANG holders can earn more tokens when they join together to promote the project online. Currently, the memecoin project is in its fifth pre-sale stage with a set cost of USD $0.025. The team plans to list KANG on an exchange by the second quarter of 2024.

Conclusion

KangaMoon seeks to position itself as a top contender and could rival established cryptocurrencies. Its small market capitalization requires less funds to cause a potential price increase.

Discover exciting KangaMoon (KANG) pre-sale opportunities today!


Disclaimer: This is a sponsored note produced by the KangaMoon team , hence DailyBitcoin DOES NOT endorse or promote the commercial offers, products or services cited throughout the text.

The marketing of cryptocurrencies in the pre-sale phase can be a risky activity, even more so if it is not done through a launchpad or known platform. We recommend that interested parties research more about the project and its value proposition before investing their capital, since any investment carries significant risks.


Text and image by KangaMoon

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.

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