According to analysts, altcoins are on the verge of displacing bitcoin as the world's largest cryptocurrency by market valuation. Bitcoin, on the other hand, is edging closer to breaking through crucial support levels.

Kevin Svenson, a popular crypto expert, told his 101,000 Twitter followers that while Bitcoin and Ethereum have the disadvantage of retracing back, altcoins are poised to experience even greater corrections.

The Terra Foundation's attempt to become the world's largest Bitcoin wallet may have sparked a massive positive trend in the LUNA price. As a result, the asset has been trading near the ATH for the past few days. Furthermore, the price does not become weary after demonstrating high strength. As a result, it's expected that by the end of April 2022, the price would easily reach $200.

After a recent surge, LUNA has surpassed Cardano and XRP to become the seventh-largest cryptocurrency. The Terra Foundation, on the other hand, has surpassed the Bitcoin Treasury as the third largest. Its stablecoin, UST, is backed by more than 30,000 BTC. Terra's TVL also reaches an All-Time High of $31 billion in assets locked up, adding another feather to the cap. LUNA's price may be forced to experience a massive surge as a result of exceptionally favorable market attitudes.

Ethereum, the world’s second-largest cryptocurrency by market cap, seems to be performing really well after bulls are back in charge after a week and managed to drive the currency above the $3,000 level.

As the currency is trading above $3,100 at present, analysts are bullish about Ethereum price and expect the currency to surge further by the end of 2022.
Bullish Outlook For Ethereum (ETH) Price
Based on discounted cash flow model, Bloomberg analyst Jamie Coutts & market analyst Ryan Allis put forth their bullish prediction on Ethereum.

Jamie Coutts, the analyst at Bloomberg, believes Ethereum’s price to reach the $6,100 level. The analyst asserts that Ethereum enjoys a unique blend of equity, commodity & monetary characteristics.

When talking about the merge of the execution layer & consensus layer, Coutts finds himself in a bullish state. The merger will allow users to stake their Ethereum & earn income and also 30% of the Ethereum transaction fees will be distributed to the stakers.

On the other hand, Crypto quant hedge fund owner & market analyst, Ryan Allis, is of the opinion that ETH market valuations are worth $832 billion and claims Ethereum transaction fees in January 2022 surpassed $1.3 billion.

Unveils Market Forecast, Stocks and Crypto Assets Are in Midst of a ‘Melt-Up’: Billionaire  Chamath Palihapitiya

Outlook of Billionaire Chamatiya Palihapitiya says that Investors have already gone through the worst-case outcomes of Russia’s invasion of Ukraine. He says that we are in the midst of a melt-up, in the next month or month and a half, there may be a hope of price increase in the market. The news won't affect the market. Good news and bad news can be progressed equally, whereas uncertainty of the news is despised.

The two uncertainties we have come out with are, the first one was the Ukraine and Russia surface area deal which was really constructive, and the other one was Jerome Powell and Federal Reserve. They finally had the meeting and raised 25 points and importantly they gave a very prospective forecast for the next future years.

People realized that even after the inflation, the market still stands strong with the support of 2% to 2.5% interest rates and can still grow well.  The result of uncertainty loss was the only reaction that we have seen from the past few days.

“A rapid increase in the war dragging on the future investments, and drastic increase in the intensity of war are the events with low probability. But we currently have really constructive dynamics for at least next month and a half or even more than 2 months.”

Palihapitiya states that markets are further positioned to rise whereas the retail investors sold off at the start of March which may further play the calculations of the rising market.

Retail investments are not really a good sign, the opposite of retail concepts prompts earning. the market got punched in the face where a day beginner in retail was a net buyer. Finally, the retail market surrendered at the beginning of “March” and that was the moment to buy according to Palihapitiya.

Surprisingly the market received from that point due to the end of Q1. There was a huge tax bill pending on April 15th and people started giving up. We can make money by doing exactly the opposite of what the retail market does and with access to proper information. We may probably be up here after….

After a consistent increase since November, the difficulty of mining a bitcoin(BTC) block dropped 0.35% on Thursday. A Data form information platform Glassnode shows mining difficulty dropped 1.5% on 3rd March.

The hash rate difficulty adjusts automatically relative to the computing power of the network, to keep the time between each mined block relatively stable at 10 minutes. The bitcoin mining dropped from 248 exhash/second (EH/s) to 216 EH/s on March 17, according to Glassnode data.

As energy prices increase globally, we get to see more ASICS fall off the network, Whitt Gibbs, Compass Mining founder, and CEO told CoinDesk in a Telegram message on Friday. This drop is due to unprofitable miners unplugging ASICS (application-specific integrated circuits).

Electricity prices are increasing across the world as one of the largest exporters of fossil fuels, Russia, is enslaved in a war with Ukraine, and global energy supply chains are served by sanctions.

The Kazakh miners going offline due to electricity shortages and government crackdown on illegal mining caused the drop, Jaran Melleerud, a researcher at Oslo-based Arcane Research, said by CoinDesk.


Kazakh authorities said on March 15, that they seized almost $200 million of equipment from crypto mining operations as they crackdown on illicit mines. Miners legally operating in Kazakhstan had their power cut off at the end of January, and the government struggled with energy shortages.

The HashrateIndexes prices per TH for rigs with medium efficiency, Mellerud said that Kazakh government should have seized around 3 TH/s worth of mining rigs, equivalent to 1.5% of bitcoin’s hash rate. North American miners continue to plug in new machines, “the withdrawal capacity from Kazakhstan is currently limiting bitcoin’s hashrate growth”.

Alts such as AVAX, MATIC, Terra(LUNA) are some potential contenders for buyers