The Bitcoin price saw a major price surge on Monday, which briefly took the coin beyond the $64.8k mark. The coin’s price climbed above $64k last Friday, August 23, and has been trading sideways since. However, a recent statement by the US Federal Reserve Chair Jerome Powell may have been responsible for the coin’s attempt to breach the $65k mark.
This could be the most important week crypto has seen in years
Bitcoin surged after the Federal Reserve chair announced recently that the time has come for interest rate cuts. The statement immediately sent the coin from lows of under $50,000 to nearly $65k, as mentioned.
After recent fears that the US dollar collapse may be coming, followed by Donald Trump’s son’s plans to shake up the world of banking and finance, a widely respected analyst predicted that this could be one of the most important weeks for crypto in years.
The analyst in question is Dan Ives of Wedbush Securities. He said:that the tech stocks could be boosted by a robust reassurance from Nvidia that the AI-led boom this year is not overdone. In addition to the tech stocks, he believes that the crypto sector could also see a major price boost, especially Bitcoin as the perceived digital gold.
A similar statement came from Andrea Barbon, a professor of finance at the University of St- Gallen and a well-known crypto expert, who said: “Since July, we’ve seen the correlation between bitcoin and equities turn negative, suggesting that bitcoin might not follow traditional markets during downturns. If this trend holds, a recession could boost crypto prices as investors look for alternative stores of value.”
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While established cryptos like Bitcoin are expected to see a strong price surge, there are also coins and tokens currently in presale that have just as massive, or even greater potential. One example is Pepe Unchained (PEPU) — a new Pepe variant that is also the first Pepe-inspired meme coin to have its own blockchain.
It comes with a Layer-2 chain developed on top of Ethereum, and unlike ERC-20 tokens such as the original Pepe, PEPU is not bound by Ethereum’s limitations. This means that issues like low scalability, slow speeds, and high transaction fees do not affect it, as its L2 chain operates independently.
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In other words, PEPU could become one of the biggest meme coins after launch, and even challenge the original Pepe. Its ICO has shown that there is massive demand for the token, raising over $10.6 million in the last few months. Its price currently sits at $0.0093105, but in only 24 hours, it will see another scheduled increase. With that said, anyone wishing to buy PEPU should do it before the next surge, using ETH, USDT, BNB, or credit/debit cards.
