Pi Network’s (PI) Latest Updates, Worrying Bitcoin (BTC) Predictions, and More: Bits Recap April 10

PI community members continue to complain, while BTC might be on the verge of a new painful decline.

The team behind Pi Network has recently unveiled several announcements and upgrades. However, many community members remain dissatisfied with the progress, complaining that ongoing issues are a major obstacle.

Bitcoin (BTC) has rebounded following the two-week ceasefire that the US and Iran agreed on, but some analysts believe the asset has yet to reach its bottom during this cycle. Meanwhile, Ethereum (ETH) could experience a triple-digit price increase if it holds above its “line in the sand.”

What’s New With Pi Network?

The Core Team rolled out several important updates across the whole ecosystem. Two months ago, it released protocol version 19.6, followed by v 19.9 in early March.

After that came version 20.2 – a major upgrade because it prepares the network for future smart-contract features. The next planned step is v 21, which was scheduled for earlier this month, but the developers haven’t shared any details on whether that development actually happened.

Apart from the protocol updates, Pi Network announced the start of the second migrations, and last week it advised Pioneers to set up Pi Wallet two-factor authentication (2FA) to complete the process.

Several days ago, the team revealed that the first distribution of KYC validator rewards had been concluded. “Rewards were calculated for over 526 million validation tasks completed by more than 1 million KYC validators,” the message reads.

As usual, the X post caused some frustration among community members. Many say they never received rewards, even though they completed tasks months ago. Others are upset that Pi Network keeps posting announcements, yet real progress feels slow, and PI is still not available for trading on numerous major centralized exchanges.

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BTC Remains in Danger

The primary cryptocurrency, which was struggling below $70K at the start of the week, was positively impacted by the temporary treaty that the United States and Iran agreed on. Several hours ago, its price neared $73,000, while it is currently hovering around $71,700 (per CoinGecko’s data).

Despite the resurgence, many analysts believe the worst part of this cycle might still be ahead. X user Ted predicted that the whole crypto market would dump to new lows in the near future, while Lofty envisioned a possible crash to $30,000.

The popular analyst Ali Martinez also added his name to the list of pessimists, forecasting a potential decline to almost $35,000. Nonetheless, he thinks that such a pullback could offer a generational buying opportunity.

Is ETH Ready for a Big Move?

The second-largest cryptocurrency has been trading at around $2,200 over the past few days, with Martinez arguing that its price action could be in an ascending triangle. He claimed that holding above the “line in the sand” of $1,800 might open the door to a staggering surge to $4,900.

Ted and ALTS GEMS Alert echoed the prediction. The former suggested that as long as the $2,000 support holds, the asset could have another upside move, while the latter envisioned a quick retest that could trigger a rally beyond $4,000.