Santa Claus Rally Begins Again, BTC Eyes YTD Higher As Memeinator Grows
Cryptocurrencies are on strong growth ahead of Christmas.
There are signs that a Santa Claus parade is underway.
Memeinator Token is getting closer to its target goal.
Santa Claus parade is happening in crypto and stock market. While US indices such as the Dow Jones, S&P 500, and Nasdaq 100 indices are trading at record highs, Bitcoin is targeting year-to-date highs.
Apart from BTC, other cryptocurrencies like Solana, Bonk and IoTeX are also doing well. Indeed, Solana has overtaken XRP to become the fifth largest cryptocurrency in the world thanks to the boost of meme coin.
Meanwhile, Memeinator, an upcoming cryptocurrency that aims to develop the concept of artificial intelligence (AI) with meme coins, is growing. As the token sale nears its end, it is slowly getting closer to its target of $2.4 million.
Why are cryptocurrencies growing?
The value of cryptocurrency is increasing due to many important factors. First, the SEC, Blackrock and Nasdaq held their second meeting to discuss the mechanics of the Spot Bitcoin ETF. This meeting confirmed to many that the SEC will approve these ETFs in the coming weeks or months.
They are also jumping on monetary policy issues. On Wednesday, the Office for National Statistics (ONS) published encouraging inflation data. UK inflation fell below 4% in November, the data showed.
These numbers confirm that global inflation is slowing and that central banks will start cutting interest rates in the coming months. The Fed has hinted that it will start lowering rates in June next year. Other banks, such as the ECB and the Swiss National Bank (SNB), are expected to lower rates.
Cryptocurrencies and stocks tend to do well during bearish periods because it often ushers in a new era of risk exposure. This explains why the US dollar index and global bond yields have pulled back over the past few weeks.
Therefore, analysts believe that the cryptocurrency bull run has just begun. On a note, a CryptoQuant analyst stated that Bitcoin could rise to $164k by 2024.
“We argue that 2024 could be a positive year for Bitcoin and the crypto market. Approve and 6. Growing stablecoin liquidity.”
To get the benefit of Memeinator
Memeinator's MMTR token could benefit if this prediction is correct, as most altcoins tend to do well when Bitcoin continues to rise. In the year In 2023, we see several new meme coins pop up. Coins like Bonk and Pepe, for example, have reached over $1 billion in market capitalization this year.
Memeinator aims to conquer this industry by creating followers among community members. More than 384,000 people entered the race to win a trip to space on a Virgin Galactic ship. The promotion also reached millions of users.
In addition to meme coin tools, the network also aims to use artificial intelligence, which has gone mainstream this year. So, I predict that MMTR will join the crypto rally in 2024. You can buy MMTR tokens here.
