{"id":30795,"date":"2024-12-24T08:05:00","date_gmt":"2024-12-24T08:05:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30795"},"modified":"2024-12-24T08:05:00","modified_gmt":"2024-12-24T08:05:00","slug":"bitcoin-btc-price-volatility-bullish-dogecoin-doge-predictions-and-more-bits-recap-dec-24","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30795","title":{"rendered":"Bitcoin (BTC) Price Volatility, Bullish Dogecoin (DOGE) Predictions, and More: Bits Recap Dec 24"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Bitcoin (BTC) hit $108K last week but dropped to its current $94K following Jerome Powell\u2019s comments regarding the Fed\u2019s interest rate policy for next year.
\nDespite a 20% weekly dip to $0.32, analysts hint at a parabolic rally for Dogecoin (DOGE), though extremely high targets seem far-fetched.
\nShiba Inu (SHIB) fell 17% in the last seven days but shows signs of strength, with analysts eyeing a 20% rebound if key resistance levels break.<\/p>\n

<\/a><\/p>\n

BTC\u2019s Rollercoaster<\/h2>\n

Exactly a<\/span> week ago, Bitcoin (BTC) made history, reaching a new all-time high of over $108,000. Nonetheless, the peak was short-lived and <\/span>was followed<\/span> by a substantial correction. On December 20, the price plummeted below $93K, but a day later, it climbed to almost $100K. The past few days offered another pullback, with BTC falling under $93,000 on December 23 and later rebounding to its current $94,000 (per CoinGecko\u2019s data).<\/span><\/p>\n

<\/a>BTC Price, Source: CoinGecko<\/p>\n

One factor potentially affecting the asset\u2019s valuation could be the latest FOMC meeting, specifically Jerome Powell\u2019s comments. While the Chairman of the Federal Reserve <\/span>announced<\/span><\/a> a 0.25% interest rate cut, he warned that this policy might be paused next year due to rising inflation concerns.\u00a0<\/span>He also said the central bank is not permitted to hold BTC<\/span>, which has arguably put Trump\u2019s promises of creating a strategic BTC reserve in question.\u00a0<\/span><\/p>\n

The asset\u2019s downturn <\/span>also<\/span> coincides with massive outflows from the spot BTC ETFs. As CryptoPotato<\/em> reported<\/a>, investors have withdrawn almost $1.2 billion from the eleven US-registered financial products, with Fidelity leading the exodus.\u00a0<\/span><\/p>\n

Despite the bearish outlook, some analysts believe BTC might be gearing up for another significant rally <\/span>in the near future<\/span>. X user Ali Martinez <\/span>said<\/span><\/a> the asset \u201cstill enjoys positive momentum\u201d due to the Market Value to Realized Value (MVRV), which has been on a <\/span>downfall<\/span> lately. Those willing to explore additional price forecasts and check whether now is a good time to hop on the BTC bandwagon can take a look at our dedicated video below:<\/span><\/p>\n\n

<\/div>\n

What\u2019s <\/span>Next for DOGE\u2019s Price?<\/span><\/h2>\n

The sector\u2019s latest correction has also negatively affected the <\/span>biggest<\/span> meme coin in terms of market capitalization. <\/span>Dogecoin (DOGE) is currently worth around $0.32, representing a 20% <\/span>decline on a weekly scale<\/span>.<\/span>\u00a0<\/span><\/p>\n

<\/a>DOGE Price, Source: CoinGecko<\/p>\n

Similar to<\/span> BTC, many market observers believe it may soon return to the green track. Martinez was among those weighing in again, <\/span>envisioning<\/span><\/a> a massive 12,000% price explosion should history repeat itself.\u00a0<\/span><\/p>\n

\u201cIn 2017, when Dogecoin began a parabolic run, it surged 212%, retraced 40%, then rallied 5,000%. In 2021, it went up 476%, retraced 56%, then skyrocketed 12,000%. <\/span>Now,<\/span> in 2024, DOGE is up 440% and has retraced by 46%.<\/span> If history repeats, another parabolic rally is on the way,\u201d he stated.\u00a0<\/span><\/p>\n

It is worth mentioning that such an exponential price increase would require Dogecoin\u2019s market cap to skyrocket above $5.5 trillion. As of writing these lines, the entire capitalization of the crypto sector is less than $3.5 trillion, making the forecast quite challenging (to say the least).<\/span><\/p>\n

How\u2019s SHIB Doing?<\/span><\/h2>\n

Dogecoin\u2019s biggest rival<\/span> \u2013 <\/span>Shiba Inu (SHIB) <\/span>\u2013 has underperformed, too<\/span>. Its valuation tumbled by 17% in the past seven days, while its market cap is currently <\/span>standing<\/span> at $13.2 billion.<\/span> This<\/span> makes SHIB the 17th-biggest cryptocurrency.<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

According to the X user Rose Signals Premium, though, the price of the meme coin has been \u201cshowing signs of strength.\u201d The analyst <\/span>set<\/span><\/a> the $0.00002139 \u2013 $0.00001939 range as a support zone and $0.00002715 as an initial goal (that would require a 20% spike from the current valuation).\u00a0<\/span><\/p>\n

$0.00003083 was depicted as an \u201cintermediate resistance,\u201d whereas $0.00003511 <\/span>was predicted<\/span> to serve as a \u201cmajor resistance.\u201d<\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

The post Bitcoin (BTC) Price Volatility, Bullish Dogecoin (DOGE) Predictions, and More: Bits Recap Dec 24<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Bitcoin (BTC) hit $108K last week but dropped to its current $94K following Jerome Powell\u2019s comments regarding the Fed\u2019s interest rate policy for next year. Despite a 20% weekly dip to $0.32, analysts hint at a parabolic rally for Dogecoin (DOGE), though extremely high targets seem far-fetched. Shiba Inu (SHIB) fell 17% in the […]<\/p>\n","protected":false},"author":0,"featured_media":30796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30795"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30795"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30795\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30796"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}