As a seasoned researcher with over a decade of experience in the crypto space, I’ve witnessed my fair share of market highs and lows. The recent surge in Bitcoin‘s price to an all-time high of almost $108,000 is certainly an exciting development, but it’s not something that would surprise me given the current bullish sentiment. However, it’s important to remember that past performance is not always indicative of future results – a lesson I’ve learned time and again in this volatile market.
TL;DR
- Bitcoin (BTC) reached a new all-time high of almost $108,000. Analysts predict it could climb to $250,000 or even $500,000 this cycle.
- Ripple’s XRP surged over 130% in a month, trading above $2.50. Market observers set short-term targets between $5.85 and $8.76.
- Pi Network urged users to rely on official channels and use the verified Pi Wallet. The launch of the open network is pending, with approximately one million verifications left.
BTC Hits a New ATH
Over the past week, the leading digital currency has surged significantly, with its price rising more than 10%. Earlier today, it reached a record-breaking high of nearly $108,000. Afterward, Bitcoin exhibited increased volatility and eventually settled at its present value of approximately $107,000 (as reported by CoinGecko).
It’s worth mentioning that the asset reached its highest point just following MicroStrategy’s announcement of their recent Bitcoin purchase. As CryptoPotato detailed, this business intelligence firm purchased 15,350 BTC at an average cost of approximately $100,386 per coin. This addition brought their total holdings to around 439,000 BTC, which currently translates to nearly $47 billion given current rates.
Large-scale acquisitions of that kind tend to reduce the quantity of those assets up for sale on the market, which might possibly trigger a surge in price (provided demand remains steady or increases). On the other hand, when MicroStrategy announced massive Bitcoin purchases in the past, Bitcoin’s value momentarily decreased.
The value of this asset is moving closer to a new all-time high, which coincides with the generally optimistic views among well-known analysts on platform X. Jake Gagain stated that he finds it hard to imagine Bitcoin not reaching $250,000 during this cycle, while Michael van de Poppe predicts the price could skyrocket as much as $500,000.
XRP Price Forecasts
Recently, the value of Ripple’s XRP has significantly increased. In fact, its price has risen more than 130% within the last month and is now trading above $2.50.
Factors potentially contributing to the revival could be the recovery of the broader market and the imminent release of Ripple’s stablecoin, RLUSD. This innovative product is expected to become available on various exchanges within the next couple of days, with platforms like Uphold, MoonPay, Bitso, CoinMENA, and others, being among its early adopters.
Several industry players are convinced that XRP’s recent surge might be the start of a significant bull rally yet to unfold. Analyst JAVON MARKS recently predicted a potential price surge, while Dark Defender set $5.85 and $8.76 as near-term goals. Additionally, Dark Defender identified $2.29, $2.24, $2.10, and $2.02 as key support levels.
User Scofield also offered his input, suggesting that XRP investors might want to think about selling their holdings when the asset’s value reaches $5.
Pi Network Alerts
To round off, let me emphasize that we’ll end with two pieces of advice stemming from the debated Pi Network cryptocurrency project. The team strongly advises users to trust only information disseminated through official channels. They have set up a safety page listing all the credible sources and URL links for the community’s reference.
Developers have advised users to exclusively utilize their Pi Wallets within the specified Pi Browser for security reasons. To protect your Pi, make sure you’re using the genuine wallet, not any imitations. The legitimate Pi Wallet can be recognized by its purple color in the navigation bar of the Pi Browser and a Pi logo that includes the Core Team apps emblem.
2019 saw the debut of Pi Network, rapidly growing into a community of millions in subsequent years. Yet, its native token and main network have yet to be launched, leading to some debate within the community. The team behind Pi Network has stated that the open network will become operational once 15 million individuals complete the necessary verification processes. As per recent reports from Pi News, only one million verifications remain to be completed.
Besides this, the Pi Core Team has pledged to disclose their mainnet launch timeline by December. This is expected to offer greater insight into the anticipated availability of buying and trading Pi coins.
It is yet uncertain if the last few weeks of 2024 will witness substantial advancements or if there will be more postponements.
Read More
- FARTCOIN PREDICTION. FARTCOIN cryptocurrency
- SUI PREDICTION. SUI cryptocurrency
- Excitement Brews in the Last Epoch Community: What Players Are Looking Forward To
- The Renegades Who Made A Woman Under the Influence
- RIF PREDICTION. RIF cryptocurrency
- Smite 2: Should Crowd Control for Damage Dealers Be Reduced?
- Is This Promotional Stand from Suicide Squad Worth Keeping? Reddit Weighs In!
- Epic Showdown: Persona vs Capcom – Fan Art Brings the Characters to Life
- Persona Music Showdown: Mass Destruction vs. Take Over – The Great Debate!
- “Irritating” Pokemon TCG Pocket mechanic is turning players off the game
2024-12-17 12:35