After a long period of time, the cryptocurrency market was completely painted green, and bulls gained control. Bitcoin closed bullish every week, soaring by over 10% and reaching a weekly high of over $30600
After a long period of time, the cryptocurrency market was completely painted green, and bulls gained control. Bitcoin closed bullish every week, soaring by over 10% and reaching a weekly high of over $30600. Currently, prices continue to approach these levels, indicating that the bullish trend may continue for a long time. In addition, some counterfeit coins seem to be following star cryptocurrencies, while others remain unchanged and therefore appear to have died.
As expected, with less than 2 months until the annual closing, cryptocurrency volatility has skyrocketed. Short positions have now shifted to an inactive mode, indicating that the market may record bullish annual closing prices as before. Now that Bitcoin prices have finally reached the mid-term milestone of $30000, will Ethereum and other counterfeit currencies follow suit?
On the other hand, Ethereum soared by over 4% and hit a monthly high of over $1700. ETH prices have significantly slowed down, so the current annual milestone of $2000 seems like a tedious task. However, if the ETH/BTC currency pair gains some momentum, it can be inferred that the price trend may be even greater.
Will Shanzhai coin perform better than Bitcoin?
Other counterfeit coins in the top 20, such as BinanceCoin, XRP, Chainlink (LINK), Polygon (MATIC), Avalanche (AVAX), Dogecoin (DOGE), and Polkadot (DOT), also showed some changes. The LINK price seems extremely bullish, and only by breaking the key level of $10 can it reach a high point above $14. In addition, XRP prices may also follow a bullish trend and reach $0.6 by the end of 2023.
The BNB price shows significant uncertainty, so the likelihood of rising to over $300 by the end of the year is relatively low. In MATIC and AVAX, these tokens are expected to maintain a sluggish trend. Due to not recording too many activities in the chain, the likelihood of a breakthrough this month is low. Finally, regardless of direction, the significant fluctuations in DOGE prices are always surprising. Therefore, the popular memecoin may exhibit a noticeable trend in December 2023.
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