Coinbase Publishes a Monthly Review Suggesting That the Crypto Market Could Start to Turn Around Soon

While the crypto market has seen a steep decline since December, a monthly review published by Coinbase suggests that things could start to turn around soon.

The crypto market has seen a steep decline since December, but a monthly review published by Coinbase suggests that things could start to turn around soon.

The report forecasts that the crypto market will finally find its “floor” in Q2 2. A sustained period of low prices would usually be expected to spur interest from buyers and ultimately lead to a rally.

However, given the speed at which crypto prices have fallen, it remains to be seen whether we will see the return of buyers in Q2.

The report also predicts that the crypto market could see an “explosive” rally in the months following the formation of a floor.

A Triple Threat of Macroeconomic Woes

The total crypto market cap, excluding Bitcoin, has decreased by 41% from $1.6 trillion in December to $950 billion in mid-April.

Meanwhile, the S&P 500 index has fallen by 10%, while stocks are still in a bear market.

The crypto market has been battered by a triple threat of macroeconomic woes, including the rapid rise in interest rates, the ongoing trade war between the U.S. and China, and the Russia-Ukraine conflict.

“All of these structural pressures stem from the uncertainty of the broader macro environment, where traditional risk assets have faced sustained headwinds from fiscal tightening and tariff policies, contributing to the paralysis in investment decision making,” wrote David Duong, CFA – Global Head of Research at Coinbase.

However, seasoned inventors understand that periods of low prices and minimal market interest are typically seen as opportune times to make purchases.

Periods of low prices usually spur interest from buyers, setting the stage for a rally.

Crypto Is Already Outperforming Stocks in 2023

Crypto Is Already Outperforming Stocks in 2023

As Duong wrote, crypto is likely to experience growth again in the coming months, but we can already see murmurs of that this week as crypto prices have outpaced stocks significantly.

The S&P 500 index is down approximately 2% in the last two days, whereas the crypto market has gained around 1%.

However, the biggest crypto gains come from meme coins. Per CoinMarketCap data, several meme coins have provided over 100% gains this week.

Now, let’s take a look at three meme coins that are heating up in 2023.

Best Meme Coins to Buy Now

MIND of Pepe

MIND of Pepe is a meme coin with its own AI agent. The agent will scan the market to identify trends, such as emerging narratives or even market top signals.

Understanding market trends is crucial for success in crypto. MIND of Pepe is bringing AI-powered intelligence to help meme coin fans preempt the next market move.

The agent can also launch its own crypto projects, and $MIND holders will get insider access.

It’ll use data analysis to identify gaps in the market and then launch tokens to fill them. It’s a breakthrough idea – an AI agent could launch the next viral cryptocurrency.

MIND of Pepe is currently undergoing a presale and has raised over $8 million so far.

Its early stage and promising use case, which blurs the lines between meme coin and AI, creates an exciting outlook. This could result in big gains for $MIND presale buyers.

Popcat

Popcat is a cat-themed meme coin on the Solana blockchain. It was once one of the world’s largest meme coins, but it was hit hard during the Q1 crash.

At press time, Popcat trades at $0.24, down 88% from its ATH. However, it’s one of the best-performing meme coins this week, having gained over 30%.

Its relative strength tells us that Popcat has the market’s attention. This indicates that it could be one of the projects leading the way as prices make gains.

Another consideration is that Popcat launched on the Solana blockchain. Solana is thriving right now, with over 78 million users in the past month. This is over double the next most-active network, BNB chain.

Should Solana continue leading the way in adoption, it sets the stage for Popcat to boom.

Turbo

Turbo is a frog-themed token that claims to be one of the first meme coins created by AI. Its ability to market itself as an AI meme coin draws a lot of attention and could enable it to continue attracting investors this year.

The project also has a listing on Binance, which provides sweeping exposure to millions of retail crypto investors.

However, the project has begun shifting to integrate utility. In December, it revealed TurboChain, an AI meme coin blockchain built on Near Protocol. The network will enable developers to launch dApps, with a focus on onboarding creative artists and innovators.

The project will also launch its own DEX called TurboSwap.

Just like we saw with MIND of Pepe, there’s a clear shift in the meme coin space right now as