As the new year begins, the crypto market faces a negative landscape, but optimism for 2024 remains high among assets. Crypto traders and investors are exploring potential investments for January, with the last few weeks of 2023 hinting at strong buying pressure that could spotlight certain cryptocurrencies.
In the United States, there’s significant anticipation that the Securities and Exchange Commission (SEC) may approve the first spot Bitcoin exchange-traded fund (ETF), with companies already advertising their applications. Even JPMorgan has been mentioned in this context. Crypto expert Ali Martinez suggests that 2024 could kickstart a three-year bullish trend for Bitcoin.
As of January 1st, Bitcoin’s price has seen a 0.38% increase over 24 hours, trading at $42,679, with a 0.61% rise over the past week and a 10.3% increase over the month, according to data from milyon.com.
Solana (SOL), which experienced a surge of over 500% in just two months last year, is now trading at $104.03, indicating a 0.16% decline for the day. Despite a 5.43% drop over the past week, SOL has gained a notable 72% over the month, according to analyst Michaël van de Poppe.
XRP (XRP), competing neck and neck with Cardano (ADA) to reach the $1 price level, could potentially rise to $3.7 based on the Super Guppy indicator analysis by EGRAG CRYPTO. XRP has gained 0.47% in the last 24 hours, trading at $0.623, and continues to maintain its stability with a modest 1.95% increase over the month.
Recent events surrounding TRB Coin highlight the volatility and uncertainty in the crypto market. The mentioned cryptocurrencies are just a few that could rise in January, and investors should remember the significant gains many altcoins experienced last year.