Strategists at JPMorgan have issued a warning to Bitcoin (BTC) investors that prices might continue to decline as interest in spot exchange-traded funds declines. Bitcoin has one of its roughest weeks in 2024 after posting a new all-time high (ATH) on March 14. Prices have dropped by more than 4% in the past week as ETFs see their largest three-day withdrawal since being launched.
Strategists like Nikolas Panigirtzoglou believe BTC is overbought right now and predict prices will decline further heading into its halving event. It would be the first time in Bitcoin’s history that prices have declined heading into a halving. BTC is currently trading above the $67,000 support level.
Ripple (XRP) is also having its share of issues as its prices fail to post substantial gains due to its ongoing legal battle with the US Securities and Exchanges Commission (SEC). Some XRP holders are now swapping their tokens for Monero (XMR) and the emerging crypto project InQubeta (QUBE) for the opportunity to earn considerable returns.
New DeFi project InQubeta (QUBE) taking over the AI-crypto space
InQubeta currently has one of the top ICOs as its presale has now raised over $12.3 million. It’s $6 million away from matching the amount the Ethereum (ETH) network, its parent blockchain, was able to raise during its ICO. InQubeta’s developers intend to use the functionality inherited from the Ethereum network to open up access to opportunities to invest in artificial intelligence (AI).
Its decentralized finance space will serve as an alternative to mainstream investment firms since many people don’t have access to these firms because of net worth, geographic, or income requirements. InQubeta’s investment space will empower anyone with a cryptocurrency wallet to acquire equity and other rewards from AI startups.
The AI industry has grown substantially in the past several years, and investments in the industry have jumped 1,000% since 2015. More than $120 billion finances the AI industry today and that figure is expected to jump to $1.5 trillion by 2030.
InQubeta is positioned for substantial growth in the coming years as investors and AI startups interact on its NFT marketplace. Here’s what the process will look like:
- AI startups are evaluated by InQubeta’s team to determine if they’re eligible to use the investment space
- Firms that pass the initial assessment get to digitize investment opportunities into non-fungible tokens (NFTs) that cannot be duplicated. These tokens perform the same role as stocks in InQubeta’s decentralized investment space
- Investors can purchase any investment opportunities available on the NFT marketplace with QUBE, earning them equity and other rewards promised
- NFTs bought on the marketplace can be resold at anytime
JPMorgan’s strategists expect BTC’s price to drop to $42,000
While BTC set a new ATH a little over a week ago at $73,750, its price has dropped as low as $62,000. Factors like the number of people investing in BTC ETFs shrinking and a large number of investors taking profits are responsible for its decline.
Monero’s (XMR) price enjoys 16% surge
Monero prices have surged 16% in the past month while many other top altcoins have struggled. It remains one of the true cryptocurrencies given the anonymity its blockchain offers, despite the questions raised by Finnish law enforcement successfully tracing a transaction on its blockchain.
XMR’s price can grow by up to 300% if BTC enjoys the considerable growth its next halving event is expected to bring.
Summary
QUBE, XMR, and BTC could earn investors considerable profits this year. QUBE’s price is expected to enjoy as much as 10,000% growth thanks to the open access to AI investment opportunities it plans to deliver and the inflow of over $1.5 trillion into the AI space in the next several years.
