Bitcoin (BTC) Price Predictions, solana (SOL) Volatility, shiba inu (SHIB) Developments: Bits
TL;DR
- Bitcoin (BTC) had a strong performance in 2023 and early 2024, but its price has stabilized in a range recently.
- The value of Solana (SOL) experienced significant growth last year but has experienced a downturn recently. Various factors can potentially affect future market performance.
- Shiba Inu (SHIB) has experienced some price disruptions, but layer 2 blockchain solution Shibarium has made significant progress in terms of transactions and wallet addresses.
Despite its impressive performance throughout 2023 and a solid start to 2024, Bitcoin’s price has recently consolidated between $43,000 and $44,000, and its future depends on some key events.
An example of this is the BTC halving, which is planned for April this year and will halve miners’ rewards. If demand remains the same or increases, a decrease in supply may cause prices to appreciate.
Stock-to-flow creator “PlanB” recently supports this thesis summarizing BTC may surpass $530,000 after the halving. The analyst also predicts that the asset’s price could rise to $50,000 to $60,000 in the months before the halving.
Those who want to learn more about this important event can check out our latest video:
The LEFT is Losing Its Power
Solana’s SOL was another digital asset that recorded significant gains last year, with its price reaching almost $125 at Christmas (an increase of over 1,100% compared to January 1, 2023). However, the recent correction in the market came at a heavy price and SOL fell below the $90 level (according to data from CoinGecko).
SOL Price, Source: CoinGecko
Although SOL has been one of the best performers in 2023, it is experiencing an obvious correction, especially towards the end of the year, which could extend to the important $78 support level.
Of course, there are many potential positive market catalysts in the near future and it will be interesting to see how Solana fares in January.
SHIB Breaks Record After Record
Finally, we will touch on the popular memecoin Shiba Inu (SHIB). Although its price has been in the red in the past few days, layer-2 blockchain solution Shibarium has made serious progress.
Like CryptoPotato reported Last week, the total number of transactions on the network exceeded 250 million and wallet addresses exceeded 1.3 million.
Shibarium officially went live In August last year, we aim to benefit the Shiba Inu ecosystem by reducing transaction fees and increasing speed.
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