Bitcoin dropped to $48,650 Dec. 8, before rebounding above $50k, where it currently trades. Investors’ interest has been rekindled by the rebound in altcoins following the brutal Dec. 4 selloff. In the last 24 hours, Chainlink (LINK) has seen significant gains. Near protocol (NEAR), +23.47%) and Loopring (LRC), +15.75%), Kadena, KDA, +15.96%), and WAX (WAXP), +17.85%, are also notable up.
It is important to note that markets could experience sudden, exaggerated or abrupt movements as we move through the last weeks of the year.
These are the End-of-the Year Predictions for Terra LUNA, XRP and BTC
Market optimism was boosted by renewed market optimism. The market sentiment also felt the benefit. “extreme Fear” has been exiting since Dec. 4, when it fell to “fear”. Analyst Will Clemente believes that Bitcoin may continue to consolidate in near future. “Earlier today, everyone believed we were going to go to the moon. If we sweep the lows, everyone will likely think we are going to dump again. Just think, we’re going consolidate and create a system of mixed-negative financing before eventually moving higher “.
PlanB, S2F Creator, sets a $100k price goal for Bitcoin. In a Dec. 1 Twitter , PlanB stated that the Stock-to-Flow model has been on track since March 2019 and aiming to reach $100K
Kaleo, a crypto analyst, believes that BTC could reach at least $100,000 in this current cycle.
“I expect Bitcoin to make a parabolic jump to $100K+ in this cycle. I will gladly scale up to $150K. It will go higher, I believe.”
Santiment’s oversold shows that XRP has a undervalued price relative to its fundamentals. As of press time, XRP was at $0.87.
Michael Van de Poppe, a crypto analyst, has posted a YouTube update that identifies the $0.81-$97 levels as the areas to watch for XRP prices. He said “If they are going to hold,” then we will most likely have a scenario similar to this (rally up to $2.00), in which we begin to break out. These triggers are ($0.90, $1.00 and $1.20 )… Finally, we get a horizontal move.”He indicated that XRP’s next target price to be $2.87 or $4.33.
Terra LUNA has seen an impressive rally to reach the top 10 cryptocurrencies in terms of market capital. TradingView data shows that LUNA’s price has risen nearly 106% since its Nov. 26 low of $37.90 to $78.37 on December 5.
Kaleo, a crypto analyst believes LUNA could eventually hit $100 “LUNA going up to $100 from here” LUNA traded for $70.87 at press time.
Are Metaverse Tokens losing attention?
NFT tokens and metaverse soared in November as investors increased their interest in the metaverse. Data from Macro Hive showed that a number of metaverse-related cryptocurrency cryptocurrencies, including Axie infinity, Decentraland Sandbox, Enjin Coin and Enjin Coin, rose 37,000% this past year. DeFi coins rose 548% and coins related to smart contracts rose 2,355%. Bitcoin rose only 97%
According to the research firm, Metaverse coins and DeFi coins suffered the most during the week, when the market crashed. Could this indicate a shift in attention? Bank of America strategists believe that blockchain technology will open up new possibilities in the metaverse.
However, any dips in these tokens could offer opportunities for long-term trades.