The price of bitcoin increased by more than 2.30% and that of ETH doubled. Therefore, it’s worth asking if altcoin season isn’t an opportunity to buy new cryptocurrencies. What are the traders predicting?
Bitcoin price increases
The cryptocurrency market has yet to deal with PPI data later in the day, followed by CPI and FOMC data next week. Nonetheless, at the time of writing, Bitcoin was closing above the 200 moving average and just below the 200 moving average and trading around $17,218.83.
A session close of the high-time candle above $17,500 would represent a bullish rally around the June 2022 lows and a return to a five-month trading range. Thus, the entire decline after the bankruptcy of FTX trading platform in November there seems to be a simple short-term move below this range on the bitcoin price chart.
The next price target for Bitcoin would then logically be above this range, i.e. around $25,000and $2,000 for the price of Ethereum.
Ethereum Price in Mind: Is It Altcoin Season?
The outperformance of ETH price vs. BTC is often cited as an indicator of an “altcoin season.” In other words, now is a good time to take a position on altcoins.
Many of the top cryptocurrency traders to follow on Twitter are predicting that the“ETH/BTCcurrently at 0.075, will continue its multi-year uptrend and hit 0.1-0.12.
Cryptocurrency price predictions by Zoran Kole
Zoran Kole recently tweeted the above Bitcoin price prediction and ETH prediction for 2023. Both predictions are worth considering even if they are primarily in a “surrender” scenario.
His bullish forecast of Ethereum priceif applicable, will not necessarily benefit everyone altcoins, as he states that old cryptocurrency tokens or “dinosaur cryptos” would not be a good investment. In fact, these would undercut simply holding ETH.
Jacob Bury: Cryptocurrency Price Predictions
Our ACryptocurrency Analyst Jacob Crypto Bury published a bullish bitcoin price prediction on YouTube this month.
He leads a Discord Channel Cryptocurrency focuses on investing in new cryptocurrencies with high potential for future growth.
Since his bitcoin price prediction video, the price of bitcoin has increased by almost $1,000.
Koroush AK’s cryptocurrency price predictions
Koroush AK also tweeted this week that 99% of existing cryptocurrencies will become “dead cryptos” by the next cycle. Indeed, tokens such asAnt Stocks (NEO), Rai Blocks (NANO) and Verge (XVG) were largely ignored even during the 2021 cryptocurrency bull run.
You should know that the two professional traders have almost half a million followers on Twitter. telegram and YouTube combined.
Time to buy new cryptocurrencies?
Koroush AK pointed out that the sentiment of many cryptocurrency traders is the same. He believes it’s best if you want to invest in altcoins Choose new cryptossince they have the greatest upside potential.
According to him, even new cryptocurrencies that turn out to be “shitcoins” can “ insane gains far beyond the “poor performance” of “Dino Coins” in the short term.
The best cryptocurrencies to buy right now
On November 10, 2021, the price of bitcoin peaked at $69,000 on Binance against the USDT. As of this date, the current bear cycle dubbed the “cryptocurrency winter” has lasted for a year and a month.
Despite this, new cryptocurrency projects have managed to grow and make headlines. Parallel to, new cryptocurrency presales saw a huge level of buying from investors looking to hold the next big cryptocurrency. Some of the token pre-sales we talked about recently are about to close. These tokens will soon be introduced on cryptocurrency exchange platforms.
The latter includes the Cryptocurrency Project to reduce carbon emissions VATwhich has raised over $16 million on impt.io and ends on December 11th.
Not far behind is Dash 2 Trading (D2T) surpassed $9 million on dash2trade.com, the native token of an upcoming cryptocurrency analysis platform that will help traders decide on the best cryptos to buy.
You can read more about these tokens and ours Guide to new assets in cryptocurrencies.