Although the new year started with a negative outlook for cryptocurrencies, many crypto assets bring great optimism for 2024. Crypto traders and investors continue their research on what to invest in January. Considering the last few weeks of 2023, developments that could bring strong buying pressure are linked to which cryptocurrencies may stand out, and three of them have attracted attention.
Will Bitcoin (BTC) Price Rise?
In the coming days, there is a high expectation that the United States Securities and Exchange Commission (SEC) may approve the first spot Bitcoin exchange-traded fund (ETF). Some of the companies that have applied have already started their advertising. Even JPMorgan’s name has started to be mentioned in the matter. As of January, investors have high expectations for Bitcoin (BTC). More importantly, according to predictions by crypto expert Ali Martinez, who has been mentioned more frequently recently, 2024 could be the precursor to a three-year rising trend for Bitcoin.
As of January 1st, according to data from milyon.com, the price of Bitcoin is trading at $42,679, reflecting a 0.38% increase over the last 24 hours. It has seen a 0.61% rise over the last seven days. A broader monthly review reveals a 10.3% increase in BTC’s value.
Current Status of Solana (SOL)
SOL, which was the last bombshell of the past year with its network activities and meme coins, experienced an increase of over 500% in just a two-month period, as stated by crypto analyst Michaël van de Poppe on December 28. According to the analyst, the rise seems to have ended for now, but Solana could still maintain its strong stance in the coming weeks.
At the time of writing, Solana is trading at $104.03, indicating a 0.16% decrease within the day. SOL has experienced a 5.43% drop over the last seven days but has seen a noticeable gain of 72% in a monthly review.
Analyst Commentary on XRP (XRP)
Lastly, XRP (XRP), which is in a tight race with Cardano (ADA) to reach the $1 price level, could be in a price movement that will win this race and more, potentially advancing to the $3.7 level, according to an analysis featuring the Super Guppy indicator by EGRAG CRYPTO. As of the writing time, XRP has found buyers at $0.623, reflecting a 0.47% gain in the last 24 hours and continuing the 0.94% gain from the previous week and the stable image of the last month with only a 1.95% increase.
The TRB Coin incidents that occurred early today are one of the biggest indicators of how great the volatility and uncertainty in cryptocurrencies can be. The mentioned cryptocurrencies are just a few that are thought to rise in January, and it would be beneficial for investors to remember that many altcoins experienced significant increases last year.
