As February approaches, the cryptocurrency market anticipates potential price movements following the Federal Reserve’s interest rate decision. Two lesser-known cryptocurrencies, Beldex (BDX) and SKALE, are expected to undergo significant developments that could impact their market prices.
Beldex’s February Forecast
Beldex, the 228th largest cryptocurrency with a market cap of $273 million, is set to execute the Bern Hardfork on February 4. This update includes the Beldex Naming System (BNS) and a shift to a deflationary protocol with a burn mechanism, which may lead to a price increase. BDX has been forming a descending triangle since November 2023, suggesting a potential breakout. A positive market sentiment and an end to Bitcoin‘s correction could see BDX gain around 30%, while a negative breakout might result in a 30% loss.
SKALE’s February Developments
SKALE, ranked within the top 150 cryptocurrencies, will announce SKALE Chain payments on February 1. The network aims for a $1 billion annual payment target at 70% network load, which could boost validator hardware profitability and network interest. The RSI indicator supports the possibility of a price rise for SKALE.
Should the optimistic scenario play out, SKALE might overcome the $0.1 psychological resistance. Conversely, a negative turn could see a 45% decline to $0.041. The cryptocurrency market remains unpredictable, and while these forecasts provide insight, actual outcomes may differ.
Readers interested in the detailed analysis and price predictions for Beldex and SKALE can find more information on COINTURK NEWS.