Tuesday, December 5, 2023

Market Watch: Is Bitcoin Headed For A Bull Run?

With fingers crossed behind their backs, cryptocurrency enthusiasts are watching bitcoin creep towards the $50,000 mark. At the time of writing, bitcoin has been up 4.39% in the last 24-hours, standing near $49,340. Bitcoin seems to have caught onto the festive season and rides high on the spirit wave.


As shown in the CoinMarketCap graph above, bitcoin has an eventful month of highs and lows. And now it is much likely headed for a bull run for the Christmas weekend. If it crosses the $50,000 mark by Christmas, analysts believe the popular cryptocurrency will touch the $60,000 just before a slight fall in the new year. However, this is just a prediction and with bitcoin being so unpredictable, crypto fanatics are only hoping for the best. It seems Santa may have something up his sleeve for crypto investors. According to Glassnode data, bitcoin’s illiquid supply has increased since the dip in May. It has reached over 14 million.

Meanwhile, the world’s second most popular cryptocurrency shows gains. Ethereum has been up 2.32% in the last 24-hours. It stands a little above $4,000. Analysts believe Ether could have done better. It is closely following BTC. After bitcoin, all eyes are on Ethereum. Its blockchain upgrade, dubbed the ETH 2.0, will take a few more years for it to be deployed. But the market is keenly watching.

Experts have always touted the ethereum blockchain as the best the world has achieved. And the upgraded version maybe even better. Experts believe that ETH 2.0 will boost security, scalability and sustainability to new heights.

In regards to price forecast, ETH is expected to reach the $9,000 mark in 2022. It is just a matter of time before its crosses over $10,000. The cryptocurrency is bound to attract more investors.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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