Analyst Predicts Parabolic Bitcoin Surge Amid Middle East Conflict; Top Coins FET, DEGEN, and IO to Watch

Investors are on the lookout for promising cryptocurrencies as the market faces heightened uncertainty due to the escalating geopolitical tensions between Iran and Israel. In the last 24 hours, the total crypto market capitalization has dropped by approximately 5.5%, settling at around $2.27 trillion. Renowned analyst MartyParty, however, has predicted that bitcoin might be on the verge of a parabolic rise after bottoming out at $59,000.

## Top Coins To Consider Before Bitcoin’s Potential Surge

MartyParty’s analysis points towards a significant potential upside for Bitcoin, despite the recent correction triggered by the Middle Eastern conflict. Bitcoin is currently trading at about $61,500, and MartyParty suggests that a further decline to $59,000 could set the stage for a parabolic ascent.

### Technical Analysis and Wyckoff Accumulation Pattern

MartyParty bases his prediction on the Wyckoff Accumulation pattern, which comprises five phases: A, B, C, D, and E. According to his analysis, Bitcoin is currently in Phase D, approaching the Last Point of Support (LPS) around $59,000. A breakout from this zone could propel Bitcoin prices towards $66,500, potentially reaching as high as $90,000.

### Promising Cryptocurrencies to Watch

If Bitcoin follows this predicted path, here are three cryptocurrencies that investors should consider for potential substantial gains:

### 1. Artificial Super Intelligence (FET)

Artificial Super Intelligence (FET) is gaining attention for its innovative integration of artificial intelligence with blockchain technology. Coinbase Futures is set to list FET-PERP on October 5, 2024, which is expected to increase the token’s market exposure and speculative trading activity.

Currently trading at $1.45, FET has seen a recent decline of about 8.5% over the past day. Despite this, the growing AI alliance, which recently added a fourth member, suggests a promising future. FET has found a support level around $1 and is showing signs of a potential V-shaped bullish reversal.

### 2. Degen (Base) (DEGEN)

Degen (Base) (DEGEN) is well-known for its active community and unique decentralized finance (DeFi) initiatives. Recently, Coinbase announced that it would add DEGEN to its listing roadmap, signaling a future official listing on the exchange.

Following this announcement, DEGEN’s price surged by 110% in the last 24 hours, currently trading at $0.0095. The price action indicates that DEGEN could see further upside, with the next major resistance level around $0.021, a potential increase of 115% from its current price.

### 3. Io.net (IO)

Io.net (IO) is distinguished by its robust infrastructure and dedication to improving internet connectivity through blockchain solutions. Coinbase also added IO to its listing roadmap, alongside DEGEN. However, IO’s price reaction has been less enthusiastic.

The price of IO has dropped by approximately 13% over the past day, currently trading at $1.80. This decline can be attributed to the broader market impact of the Middle Eastern conflict and the lesser community support compared to DEGEN. Nonetheless, Io.net’s technology and Decentralized Physical Infrastructure Networks (DePIN) solutions position it as a strong contender with significant potential in the upcoming bull run.

### Market Sentiment and Future Outlook

The ongoing geopolitical issues have injected a level of unpredictability into the crypto markets, leading to a significant decrease in the total market capitalization. However, some assets like DEGEN have shown resilience and upward momentum despite the turmoil.

As Bitcoin approaches a possible parabolic breakout run, investors should keep an eye on Artificial Super Intelligence (FET), Degen (Base) (DEGEN), and Io.net (IO) for their potential to deliver substantial returns. These assets stand out due to their innovative technologies, strong community support, and strategic listings on major exchanges.

In the ever-volatile world of cryptocurrencies, staying informed and making strategic investments can lead to significant rewards. As always, conducting thorough market research and considering the broader geopolitical and economic factors is crucial for making informed investment decisions.