Bitcoin Halving Fizzles, Altcoins May Tank

The highly anticipated Bitcoin halving has occurred, but market reactions have been muted. While analysts predict potential bullish moves, others warn of altcoin declines. Four altcoins, Wormhole, Starknet, Worldcoin, and Conflux, have exhibited significant volatility and downward trends, raising concerns about potential further price decreases.

Bitcoin Halving Fails to Ignite Market Surge, Altcoins Face Potential Declines

On Friday, May 11, 2023, the highly anticipated fourth Bitcoin halving event occurred. However, unlike previous halvings, this event failed to trigger a dramatic price increase or collapse in the cryptocurrency market.

Global market capitalization currently stands at $2.32 trillion, representing a modest decline of 1.37%. Trading volume has decreased by 36% to $72.64 billion, indicating a stagnant market. While some analysts predict a potential bull move by the end of the year, others warn that certain altcoins may experience significant price declines in the coming days.

Altcoins to Consider Selling Pre-Declines

According to analysts, the following four altcoins should be considered for selling before further declines occur:

1. Wormhole: Wormhole, an interoperability platform that facilitates token transfers between different blockchains, has witnessed a continuous downward trend in the past two weeks. It has lost 57.38% of its value in just 15 days, currently trading at $0.5879. Daily trading volume has also fallen to $137 million, a significant decrease of 17.13%. Analysts attribute its decline to a lack of strong community support and speculate that Bitcoin halving and market fluctuations could push its price even lower.
2. Starknet: Starknet, a decentralized ZK-Rollup designed to scale the Ethereum network, has also performed poorly. Its token has dropped 41.34% in a month, currently trading at $1.33. Despite a brief rally to $1.62 about two weeks ago, it failed to sustain momentum and recently broke its all-time low of $0.4642. Analysts cite a lack of strong community support and adverse market conditions as factors contributing to its price struggles.
3. Worldcoin: Worldcoin, which was launched by prominent tech figure Sam Altman, has experienced a slow decline, losing 37% of its value in the past month. It currently trades at $5.02. Analysts suggest that Worldcoin has failed to capitalize on the initial excitement surrounding AI in the crypto space, which helped it rise in late February. Its recent poor performance may indicate a lack of investor interest.
4. Conflux: Conflux has also exhibited volatility in recent days. It has fallen nearly 36% in the past month and currently trades at $0.2399. Daily trading volume has declined to $52 million, reflecting reduced investor activity. Analysts note that its value has been declining steadily since the end of March and see no signs of a reversal.

Investors considering selling any of these altcoins should conduct thorough research and consult with experts to make informed decisions.