Accéder au contenu principal

Bitcoin (BTC) Price Explosion, Solana (SOL) Volatility, Ripple (XRP) Targets: Bits Recap Dec 7

TL;DR

  1. Bitcoin (BTC): Surpassed $44,000, contributing to a global crypto market cap of over $1.65 trillion, with signs of continued bullishness.
  2. Solana (SOL): Experienced price volatility, currently hovering around $64, with potential for an upcoming rally based on positive on-chain metrics.
  3. Ripple (XRP): Trading around $0.64, up 88% since January, with analysts predicting a significant rally, potentially reaching $25 in the future.

BTC’s Push Toward $44K

The cryptocurrency sector has experienced a serious revival throughout 2023, with the past few days being particularly bullish. The global crypto market capitalization has surged above $1.65 trillion, whereas Bitcoin (BTC) has been among the best-performing assets.

The primary cryptocurrency crossed the $40K level on December 4, but the uptrend did not stop there. In the following days, BTC pushed above $44,000 (per CoinGecko’s data), a peak unseen since early spring 2022.

There are numerous factors indicating that the asset’s ascent might continue in the near future. According to data presented by CryptoQuant, BTC exchange outflows have significantly surpassed inflows in the past few days. Investors’ shift toward self-custody methods is usually considered bullish as it eliminates immediate selling pressure.

Some experts argued that the current market dynamics are far more favorable than the ones during the bull run in 2021 and could trigger a further rally for Bitcoin. The X (Twitter) user Checkmate noted that the $44,000 price tag marked the “absolute zenith of on-chain mania” back in January 2021.

“Here we are at $44k and barely a squeak. Not even at 2019 levels. HODLers are not relinquishing their coins. They demand higher prices,” the analyst added.

Those willing to dive deeper into the topic and find out why BTC might be ready for an imminent bull run could take a look at our latest video below:

Is Solana (SOL) Looking for a Breakout?

Another digital asset that has captured the attention of investors lately is Solana’s native token – SOL. It was a top performer in the past few months, with its price soaring to almost $70 in mid-November. 

However, SOL could not keep the momentum, dropping to as low as $54 by the end of last month. Since then, the asset has experienced enhanced volatility, and its valuation has hovered between $55 and $65.

Nonetheless, some important on-chain metrics hint that the coin could be on the verge of a new rally. As observed on DefiLlama, total value locked (TVL) on Solana has been on the rise recently. The figure stopped at almost $700 million today (December 7), a peak last reached in November 2022.

In addition, popular analysts like Crypto King and Jacob Canfield have forecasted a bright future for SOL. The former envisioned a price spike to $300 in the long run, whereas the latter thinks the valuation could explode to a whopping $1,000.

How is Ripple (XRP) Doing?

Ripple’s native token – XRP – has also recorded some gains lately, albeit not as substantial as Bitcoin and other assets. It currently trades around $0.64, an 88% increase since January 1.

According to multiple analysts, XRP is on the verge of attacking a new all-time high price. Fiery Trading believes the coin has formed a “bull-flag” and is ready to explode to $25 by the end of next year:

“This huge pattern will explode at some point in 2024, with the most likely move being a bullish one with the halving in mind. My target for the break out is placed at $25.”

The analyst behind the popular YouTube channel CryptoTV also thinks XRP is poised for a rally, outlining $0.83 as a short-term target.

Those curious to check how the asset might perform in the remaining weeks of the ongoing year could take a look at our dedicated video below:

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).




Source link

The post Bitcoin (BTC) Price Explosion, Solana (SOL) Volatility, Ripple (XRP) Targets: Bits Recap Dec 7 appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

$3 Million Stolen In ‘Kraken’ Crypto Con

The surge in online scams has drawn heightened regulatory attention towards the crypto industry. A recent case serves as a vivid reminder of the risks involved, where a Connecticut resident became a victim of a significant scam, losing more than $3 million to individuals falsely purporting to be associated with Kraken, a well-known cryptocurrency exchange. The victim, who remains unnamed, was based in Westport and followed advice to transfer funds out of a retirement account, intending to reinvest the money in an account supposedly linked to Kraken. However, their decision led to more than $3 million swiftly disappearing into crypto wallets they could not access. Recovery Of Stolen Crypto Funds Fortunately, the victim sought help from law enforcement, and local detectives, collaborating with the state’s Organized Crime Task Force, launched an investigation. This diligent effort enabled them to trace the transactions and freeze accounts involved in the scam. While they managed to r...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite