Cryptocurrency traders have noticed a steady increase in prices after a few days of decline. While it may be too early to celebrate, the price of Bitcoin (BTC) has exceeded $98,000 at the time of writing. Altcoins have also started to recover, with prices rising approximately 5-10% from their recent lows. What can we expect from altcoins?
Bitcoin (BTC)
Currently, BTC is recovering its losses after surpassing $98,000. However, traders are hoping for daily closing prices above $98,500 to find some relief. This support level is crucial for reaching six-figure prices, but it has not yet been regained.
A well-known analyst, Daan Crypto Trades, stated before the price increase that he had no plans to open new positions during the last week of the year. He believes that BTC will remain volatile without a clear short-term direction and emphasizes that breaking above the high-volume level around $97,000 will be key.
The analyst also highlighted potential opportunities for liquidity if the market overcomes the current obstacles. Fortunately, BTC seems determined to move away from lower price points, currently indicated at $85,162.
Analysis of Altcoins
Another analyst, Moustache, also shared insights on altcoins before today’s price increase. Like many crypto analysts, he believes that the anticipated surge for altcoins has not yet begun and predicts new highs above $4.9 trillion based on historical data.
He commented, “You might think I’m crazy, but I believe the best part hasn’t started yet. I don’t know how high it will go, but it will be much higher than it is now.”
When examining the current state of Fartcoin, Altcoin Sherpa, another analyst, mentioned that he is closely monitoring it. He intends to buy FARTCOIN at some point, noting its strong short-term potential but also emphasizing caution. The potential buying levels are marked at $0.65 and $0.50, with a target above $1.28 for market recovery.
Altcoin traders are eagerly observing BTC’s performance in the coming hours. A new attempt to reach six-figure levels could pave the way for a new all-time high.
