Bitcoin Price Surges Above $38,500, Altcoins Show Promise for Investors - Latest cryptocurrency news

Bitcoin Price Surges Above $38,500, Altcoins Show Promise for Investors

The price of Bitcoin has risen above $38,500, giving hope to altcoin investors. There is no significant development expected next week that could negatively impact the markets. Inflation is decreasing and PCE data is positive. However, due to the release of current employment and hourly wage data, profit-taking may occur on Friday.

DOGE is set to go to the Moon this month, and it remains to be seen how the price will react. Approvals have been obtained for the space mission, and the price of Bitcoin is trending positively. As there won’t be any major developments until Friday, there could be a rapid recovery in altcoins within a few days. The continued institutional interest is observed with the increase in CME open positions.

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The $0.08 level is important for the meme coin king, and the price is maintaining this range. Patient investors are focused on the $0.1 target again. If there is a general improvement in altcoins and cumulative volumes exceed $75 billion, the price could quickly reach $0.1 by breaking the $0.09 resistance.

TON Coin has climbed to the top ranks among popular cryptocurrencies with the support of Telegram and recent steps. There has been a quite impressive recovery. The price, which is trading above the 20-day EMA ($2.38), experienced a temporary loss of momentum. Buyers will try to push the price above $2.59 to reach the target of the triangle formation, which is $3.58.

For Chainlink (LINK) investors, December and even the year 2024 could be a period of reaping the rewards of years of hard work. The Chainlink team can revitalize demand by announcing new partnerships. As long as interest in the RWA field remains strong, the possibility of a rally for LINK Coin remains on the table.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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