Altcoins
Analyst argues Worldcoin price will reach $26 in 2024, with new altcoin poised for more gains
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Worldcoin (WLD) has seen impressive growth recently, with prices up 170% in the last week alone. According to a leading analyst, WLD could continue to rebound and reach $26 by the end of the year if conditions remain bullish.
As Worldcoin continues to grow, there is another altcoin, Bitcoin Minetrix (BTCMTX), which some experts believe would rise after its presale ends.
Worldcoin price on the rise
The recent spread of Worldcoin has made it one of the most talked about cryptocurrencies on social media.
The coin’s rise has been fueled by a massive increase in trading volumes, which reached 1.4 billion dollars in the last 24 hours.
This makes WLD the eighth most traded cryptocurrency in the world, although it is still only the 81st (as measured by market capitalization).
According to prominent analyst Ali Martinez, Worldcoin’s powerful rally is the result of a breakout of an ascending channel pattern on the daily chart.
In a recent tweetMartinez pointed out that Worldcoin broke out of this technical pattern, paving the way for further upside.
He believes that if the breakout can be sustained, WLD could reach $15 in the near term.
Looking ahead, Martinez believes WLD could even reach $26 later this year if the coin’s momentum continues.
If Worldcoin reaches Martinez’s upper target, it would represent gains of 266% for those investing at the current price.
User Growth and AI Hype Drive Worldcoin to All-Time High
Much of Worldcoin’s rally can be attributed to the project crossing the monumental threshold of one million daily active users last week.
As Worldcoin announced in a blog postits crypto wallet app, World App, now has a million users, a 10-fold increase from just 100,000 users in November.
This rapid growth in users validates Worldcoin’s goal of providing financial services to unbanked populations.
Worldcoin is also benefiting from the broader hype around AI this week, with OpenAI unveiling its revolutionary text-to-video generator, Sora.
This increased interest in AI has helped raise most tokens in the space, and Ethereum co-founder Vitalik Buterin even tweeted about the potential of AI to audit smart contracts.
With strong fundamentals and a bit of hype, Worldcoin was able to capitalize on the discussions around AI and rebound over 170%.
Although some believe the price of WLD is now too high, broader market interest in AI suggests there may still be room for growth.
Bitcoin Minetrix Presale Raises $11.2 million
As Worldcoin continues to gain momentum, another crypto asset, Bitcoin Minetrixalso shows marked gains.
Still in the pre-sale phase, Bitcoin Minetrix has already raised more than $11.2 million and attracted nearly 22,000 subscribers on Twitter.
The key innovation of the project is to symbolize the power of cloud mining to open Bitcoin mining to the general public.
Bitcoin Minetrix does this through its mining participation model.
Using this model, BTCMTX holders can stake their tokens and earn cloud mining credits, which can be burned to obtain hashing power.
As a result, those who want to participate in Bitcoin mining do not need to purchase expensive equipment or pay high electricity bills.
The stake function will also be paid returns of up to 60% per year in BTCMTX – with more than 690 million already staked.
With its new vision of cryptocurrency mining and its entry into the market at the right time, analysts like Jacob Bury I think BTCMTX could rise after its presale ends.
Bury highlighted Bitcoin Minetrix’s potential to disrupt the traditional mining industry by lowering the barriers to entry for everyday crypto enthusiasts.
Bury’s prediction was supported by Uche Cryptwho also believes that BTCMTX is poised for a post-listing recovery.
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