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Cryptocurrency prices have whipsawed for a while, but that could be changing. According to Investment Research firm ByteTree, Bitcoin is entering a “quiet bull market.” The report comes when Bitcoin has been hovering around $28,000 amid an improved sentiment. Elsewhere, investors are accumulating Shiba Memu, with the presale having raised $3.65 million. Does this show a growing appetite for risky bets?

ByteTree has assigned Bitcoin a “bull” market outlook from a previous “neutral” rating. The firm says sustainable gains in Bitcoin and cryptocurrencies could occur later in the year. According to ByteTree, Bitcoin’s corrective phase is already done, setting it for a bullish trend. There are key things for this prediction. 

Fundamentally, Bitcoin is benefiting from rising interest rates. Lately, the bond yields rate has been rising, commensurate with the Fed’s policy tightening. The high rates have resulted in a low demand for traditional assets like stocks. Comparatively, Bitcoin has been rising rather than falling. 

ByteTree’s CIO Charle Morris says the reaction of Bitcoin shows scepticism in bond investments. When interest rates peak, it may cause a rout in bonds and spark a selloff. The projection has caused a rise in Bitcoin’s interest as a safe haven alternative to bonds.

Technically, Bitcoin has held above $25,000 since March 2023. The level was a key resistance between May 2022 and March 2023. Morris believes if Bitcoin holds this level, it will be set for a bullish market. In the meantime, the analyst says the slight selloff of Bitcoin that saw it fall below $28,000 this week could continue. The selloff would be short-lived.

Shiba Memu, an upcoming self-marketing meme giant, has been selling strong on presale. With over $3.65 million raised, the presale suggests investors are not done with risky investments. 

Shiba Memu aims to revolutionise the meme investment landscape by bringing sustainability. Using artificial intelligence, Shiba Memu will market itself on social forums. The self-marketing concept allows it to generate hype and online chatter, a key element for meme popularity. 

Analysts have lauded Shiba Memu’s AI use as a game-changer. AI is finding heightened use, and the cryptocurrency market hasn’t been left behind. With market analytics, machine learning, and sentiment analysis, Shiba Memu aims to be powerful. As such, it can rival meme peers, which have been blamed for lacking sustainability and investment value.

Shiba Memu could be attractive to investors seeking long-term value in meme investment. From the historic price action of meme cryptocurrencies, gains can be as much as 10x or 50x. With the enthusiasm that Shiba Memu has generated, there is an expectation such margins could be hit.

Shiba Memu’s social dynamics are also an added value to other meme cryptocurrencies. The project features a cutting-edge AI dashboard. The dashboard allows users to get real-time updates and be informed of the latest trends in marketing. Users can also hold conversations with the AI, ask questions, and generate feedback. The social dynamics could increase the sentiment value of Shiba Memu and allow it to be the talk of the town. With that, the value could skyrocket.

What’s more? A staking feature to be launched will benefit the Shiba Memu community. Besides earning yield, staked tokens will let users contribute towards the Shiba Memu project. They can suggest topics, websites, and tools that can increase the project’s viability and marketing.  Users get rewarded for their feedback.

Shiba Memu presale has been designed to incentivise early investors. The tokenomics allow SHMU to rise daily at 6 PM GMT. At the end of the presale, early investors get tokens valued more than they bought. If this is the right opportunity, you can buy the token via the project’s website.

The post Bitcoin upgraded to a “bull” market while Shiba Memu presale underlines risk appetite appeared first on Invezz.

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