BITPRISMIA
Only time will tell if Donald Trump’s memecoin was a good move in his plan to push crypto during his upcoming US presidential term.
Crypto trading volume on centralized exchanges hit a new record in December, the same month Bitcoin breached $100,000 and clocked a new all-time high.
A crypto analyst says we are yet to see the “Santa rally” the market has been hoping for after $1 billion was liquidated in the crypto markets in just 24 hours.
The pullbacks in the crypto market will be a “buy a dip” scenario for “much longer than everyone expects,” according to Syncracy Capital co-founder Daniel Cheung.
A crypto analyst says that the market “could be approaching euphoria territory” with the significant amount of XRP longs “being reloaded” as the price retraces.
Swyftx lead analyst Pav Hundal says that an “exuberant move” from Bitcoin is needed to kick off the highly anticipated altcoin season.
Almost $180 million in short positions in Bitcoin have been wiped as it hit a new all-time high, with an analyst saying it is “meaningful” that it is driven by spot demand.
Crypto analysts suggest a Trump victory could give the crypto market a “dopamine hit,” but with considerable volatility already priced in, traders should remain cautious.
Bitcoin reaching $75,000 to $80,000 by Christmas seems plausible, but hitting six figures will require everything to “go right from here,” according to a crypto analyst.
Crypto analysts say Mt. Gox holders are more likely committed to HODLing, and the market thinks so too.