Cryptocurrency traders have noticed a steady increase in prices after several days of decline. Although it may be too early to celebrate, the price of BTC has surpassed $98,000 at the time of writing. Altcoins have also started to recover, with prices rising approximately 5-10% from their recent lows. What are the expectations for altcoins?
Bitcoin (BTC)
At the moment, BTC is recovering from its losses after surpassing $98,000. However, traders are hoping for daily closes above $98,500 in order to find relief. This support level is crucial for reaching six-figure price points and has not yet been reclaimed.
A well-known analyst, Daan Crypto Trades, stated before the increase that he had no intention of opening 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 mentioned potential liquidity opportunities that could arise if the market overcomes the current obstacles. Fortunately, BTC seems determined to move away from lower price points, currently indicated at $85,162.
Commentary on Altcoins
Analyst Moustache also shared insights on altcoins prior to today’s increase. Like many other 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 remarked, “You may 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.”
Looking at the current state of Fartcoin, another analyst known as Altcoin Sherpa mentioned that he is closely monitoring it. He intends to buy FARTCOIN at some point, noting its strong short-term potential but 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 watching BTC’s performance in the hours to come. A new attempt to test six-figure levels could pave the way for a new all-time high.
