Bitcoin (BTC) Price Volatility, Bullish Dogecoin (DOGE) Predictions, and More: Bits Recap Dec 24
TL; DR
Bitcoin (BTC) reached $108K last week, but has now dropped to $94K following Jerome Powell's comments on the Fed's interest rate policy for next year. Despite a 20% weekly low to $0.32, analysts are hinting at a parabolic rally for Dogecoin (DOGE), even if super-high targets seem far off. Shiba Inu ( SHIB ) has fallen 17% over the past seven days but is showing signs of strength, with analysts eyeing a 20% rebound if key resistance levels are breached.
BTC's Rollercoaster
Exactly a A week ago, Bitcoin (BTC) made history, hitting a new all-time high above $108,000. However, the peak period was short and Followed In high correction. On December 20, the price dropped below $93,000, but a day later, it rose to nearly $100,000. The past few days have provided another comeback, with BTC falling below $93,000 on December 23rd and later recovering to its current level of $94,000 (according to CoinGecko data).
One factor that could affect asset valuations could be the recent FOMC meeting, particularly Jerome Powell's comments. While the chairman of the Federal Reserve announced The 0.25% interest rate reduction, due to rising inflation, warned that this policy could be stopped next year. Also, the central bank is not allowed to hold BTCThis calls into question Trump's promise to create a strategic BTC reserve.
Failure of the property as well Corresponds to the high flow of BTC ETFs from the position. According to CryptoPotato, investors have poured nearly $1.2 billion into the eleven financial products registered in the U.S., with Fidelity leading the charge.
Despite the sentimental view, some analysts believe that BTC is preparing for another significant rally In the near future. X user Ali Martinez he said. The property “still enjoys positive momentum” in the market value to real value (MVRV) market Failure recently. Those willing to explore more price predictions and whether it's a good time to jump on the BTC bandwagon can watch our exclusive video below.
what is it What's next for DOGE?
The sector's recent correction has also had a negative impact. The biggest Mem Coin in terms of market capitalization. Dogecoin (DOGE) is currently around $0.32, which represents 20% Weight loss every week.
the same BTC, many market observers believe that it can soon return to the green track. Martinez was among those reassessed. Guess Even if the big 12,000% price explosion story repeats itself.
In 2017, when Dogecoin began its parabolic run, it rose 212%, returned 40%, then rose 5,000%. In the year In 2021, it increased by 476%, showed 56% again, then increased by 12,000%. right now, In the year In 2024, DOGE increased by 440% and returned by 46%. If history repeats itself, another parabolic rally is coming,” he said.
It's worth noting that such a huge price increase would take Dogecoin's market cap to more than $5.5 trillion. As of this writing, the total capitalization of the crypto sector is less than $3.5 trillion, which makes forecasting quite challenging (to say the least).
How is SHIB doing?
Dogecoin's biggest competitor – Shiba Inu (SHIB) – It has low performance. The estimate is down 17 percent in the past seven days, the market cap at the moment. Standing 13.2 billion dollars. This It makes SHIB the 17th largest currency.
According to X-user Pink Signals Premium, meme coin price is “showing signs of strength. The analyst the host A range of $0.00002139 – $0.00001939 as a support zone and $0.00002715 as an initial target (which would require a 20% increase from the current estimate).
$0.00003083 is defined as “intermediate resistance” while $0.00003511 It was predicted. To serve as the “main opposition”.
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