Bybit News: Analyst Foresees Massive Dogecoin Surge Amidst Market Turmoil

Analyst Predicts 4,250% Surge in Dogecoin to $8.50

Dogecoin has fallen by 7% in the past 24 hours to $0.175, amidst a broader 5% drop in the cryptocurrency market. The Bybit hack, attributed to a North Korean group, has weighed heavily on prices, with the hackers successfully cashing out $300 million of their $1.5 billion haul. This has hurt values across the board, with Dogecoin down by 20% in a week and 30% in the last 30 days. Despite this, analyst EWT, known for his use of Elliot wave theory, predicts that Dogecoin is at the early stage of a longer term push towards $8.50, which would provide holders with a massive 4,250% gain.

Saylor Unveils $21B BTC Purchase Plan Amid Market Crash

Bitcoin traded as low as $78,112 on Monday, down 8% within the past 24 hours. MicroStrategy CEO Michael Saylor has delivered two key announcements that could influence Bitcoin’s next big move. Despite the dip, the Death Cross pattern on the 12-hour chart suggests bulls could struggle to regain momentum in the NEAR term. The latest US Nonfarm Payrolls (NFP) report signaled rising inflation, triggering capital flight from risk assets into fixed-income instruments.