Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin Tumbles As Altcoins Present The Best Buy-The-Dip Opportunities

The market is a sea of red following Bitcoin’s recent slide to $18,000. Altcoins across the board dived in tandem with BTC, but on-chain metrics suggest that this is the best time to buy the dip and capitalize on their potential recovery.

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Bitcoin network growth remains bearish

According to Santiment, Bitcoin’s DAA vs. Price Divergence has deviated from the mean for nearly two years. The network’s active address activity has also been bearish, mostly due to the consistent decline in the number of addresses joining the network and interacting on the blockchain. In other words, BTC address activity is failing to keep up with the month-over-month price increase since September.

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Bitcoin DAA vs. Price Divergence chart

Bitcoin DAA vs. Price Divergence chart

Meanwhile, Bitcoin is on the verge of a retreat to $16,500 if the short-term 200 Simple Moving Average caves. Sell orders are likely to surge, creating enough volume to validate the bearish trend. On the upside, overhead pressure is mounting under $18,000, further dampening the hope for recovery.

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BTC/USD 4-hour chart

BTC/USD 4-hour chart

For now, Bitcoin’s path of least resistance is downwards. However, a bullish outlook may start to form if the price closes the day above beneath the 200 SMA. Price action past $18,000 will call for more buyers to join the market as BTC scales the levels back to $19,000.

Ethereum investors await the most reliable entry point

The MVRV Opportunity/Danger Zones indicator from Santiment shows that investments in the last seven days have suffered greatly. On the other hand, investments with a 30-day moving average have remained relatively neutral.

Intriguingly, the network is still netting a long-term success record. For now, it is still shaky ground to go all-in on Ether. Still, investors are probably waiting for another leg down before they confidently pounce on the second-largest cryptocurrency.

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Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...

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