Leading cryptocurrencies Bitcoin and Ethereum experienced significant gains ahead of Thanksgiving, defying stock market downturns. Analysts predict further growth, with price targets for Ethereum reaching $6,000 (mid-term) and $10,000 (long-term). The rally comes despite warnings that the market is not yet in an ‘extreme bull’ phase.
US stocks are expected to open higher on Monday, fueled by positive investor sentiment following the Dow’s record close on Friday. Optimism surrounds Trump’s Treasury pick, potential tax cuts, and analysts’ bullish predictions despite upcoming economic data releases.
Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, has declared Bitcoin the true winner of the recent U.S. elections, citing its record-breaking rally. Gerber’s investment firm holds Bitcoin and sees its performance as a positive sign for the market.
The cryptocurrency market is on fire, with Bitcoin and Ethereum leading the charge. Bitcoin surged past $89,500, fueled by the market euphoria surrounding Donald Trump’s victory. The rally saw a massive influx of fresh money into the derivatives market, while the global cryptocurrency market capitalization approached $3 trillion. Ethereum also saw significant gains, hitting levels last seen in July. Analysts predict further growth for Bitcoin, with some suggesting a potential climb to $100,000.
Wall Street strategist Tom Lee forecasts a significant surge in small-cap stocks under President Trump’s second term, driven by anticipated economic policies, relaxed regulations, and tax cuts. He believes these stocks could double in value over the next two years, outperforming the broader market.
Cardano’s ADA token surged over 10% in the past 24 hours, reaching its highest point since July 23, and becoming the week’s top performer among major cryptocurrencies, outperforming even Bitcoin. The rally was driven by increased whale activity and high network usage, but indicators suggest some profit-taking may be occurring.
Bitcoin surged to a new all-time high of $76,872 on Thursday, fueled by a broader market rally following Donald Trump’s re-election victory. The cryptocurrency market saw significant gains across the board, with Ethereum, Solana, and other altcoins experiencing notable price increases. Experts believe the increased institutional interest in Bitcoin, coupled with the potential impact of Trump’s policies, could drive further growth in the cryptocurrency space.
Bitcoin, the leading cryptocurrency, could be poised for a significant rally, according to veteran analyst Caleb Franzen. He highlights a key technical indicator that suggests a shift from oversold to overbought territory, which historically has preceded substantial price gains. While the upcoming US presidential election may bring short-term volatility, experts emphasize the long-term bullish trend of Bitcoin, particularly if it holds above $62,000.
Memecoins experienced a significant surge on Monday as bullish sentiment returned to the cryptocurrency market. Solana-based BOOK OF MEME topped the list of biggest gainers, surging over 28%, while other memecoins like Cat in a Dogs World and Bonk also saw impressive gains. This rally comes after a broader market upswing led by Bitcoin, suggesting a renewed appetite for riskier assets.
Wall Street surged on Wednesday following the Federal Reserve’s decision to cut interest rates by 50 basis points, signaling further cuts as inflation approaches its target. The S&P 500 and Dow Jones reached new record highs, fueled by strong performances from tech giants, particularly Tesla and Nvidia, which saw significant gains.
