Currently, the cryptocurrency market is experiencing an upward trend driven by several factors:
1. Bitcoin (BTC): Briefly surpassed $100,000 and is targeting new highs of $131,000, supported by factors such as institutional adoption, inflation concerns, and reduced supply after the 2024 halving. However, there are signs of overbought conditions, which could lead to a correction before continuing the upward trend.
2. Ethereum (ETH): It is witnessing strong momentum thanks to the supply and demand dynamics resulting from the transition to the Proof of Stake (PoS) mechanism and the reduction of supply through the burn mechanism (EIP-1559). The price is currently around $3,700 and may reach $4,300 by the end of the year.
3. Altcoins: We are expected to see a bullish season for altcoins as Bitcoin’s dominance drops to around 57.8%. Coins like XRP, ADA, and SOL are attracting investor interest, indicating a shift in capital towards them.
General expectations:
The market is generally in a positive mood thanks to greater regulatory clarity and supportive policies such as tax breaks.
However, one should be careful of possible price corrections due to overbought markets.
If you are interested in investing, make sure to monitor the markets and make decisions based on the management of the
Market risks and conditions.