The cryptocurrency market is ready for the next leg up that could spur both Bitcoin and altcoins to new price levels as the year wraps up. This sentiment has been shared by analysts and proponents who point to multiple market indicators that have reflected bullish signals.
Despite the market sustaining mild gains at this time, with the majority of the altcoins losing momentum, the sentiments are still largely bullish as the market focuses on the long-term outcome.
Popular Trader and Economist Michaël Van de Poppe took to Twitter recently to note that during the perceived bull cycle, altcoins will hit new highs, and already more than a handful of altcoins have been recording significant price increase over the past weeks.
“I think we’re ready for the next part of the bull cycle, which means that altcoins will be reaching levels beyond your imagination.”
The events that precede the price upsurge could birth intense fear of missing out (FOMO) and see investors’ lose their investments. The Economist advises that market players tread with caution.
“This also means; make a plan, avoid FOMO, as in such a bull cycle, there’ll be a big amount of people losing money.”
Watch out for Solana (SOL) and Cardano (ADA)
The rising interest in Solana and Cardano from institutional players is evident in price growth. Since the trading volume is not superficial, market players are highly convinced that both altcoins will outperform in the long term. SOL is already up nearly 60% since last week and has succeeded in breaking $100 threshold, while ADA is already painting a $3 flag.
One crypto content creator echoed the community’s views in the statement below;
“Both Cardano and Solana have made some big moves this month, both pumping well over 100% and picking up some decent institutional interest along the way. There’s almost no doubt that crypto is the future at this point and even institutions know it.”
Polkadot (DOT) and Ethereum (ETH) are gearing up for a big move
Meanwhile, DOT and Ether are like the aforementioned, poised to breakout massively. FXStreet analysts’ are optimistic, asserting that Polkadot could hit $40 if nearest resistance levels are broken. Per our previous report, Ether is poised to break $4,000 once again, as prominent proponents have called $10,000 as a possible closing price for the asset.
As for Bitcoin, despite failing to sustain prices above $50,000, and sliding down to $49,901 at press time, Bitcoin is still in a massive ascending channel, and on-chain expert William Clemente asserts it will “likely break to the upside.”