Current Prices:

BTC: $107,409.20 (+4.05%)

ETH: $4,084.74 (+4.75%)

The Crypto Market is on Fire! 🔥

Bitcoin and Ethereum have been on an incredible upward trajectory in recent days, with BTC breaking past $107K and ETH nearing $4.1K. As the market surges, many crypto experts believe this is just the beginning of a massive bull run. Here’s what some top traders are predicting for the near future.

Famous Crypto Trader Predicts: "I see Bitcoin breaking the $110K mark tomorrow, and Ethereum could potentially hit $4,500 within the next week. The momentum is strong, and with institutional adoption growing, these coins are poised for even higher gains." – Willy Woo

Bullish Reasons Behind the Surge 📈:

1. Institutional Adoption: Large institutions are increasingly turning to Bitcoin and Ethereum as part of their portfolio, providing significant upward pressure.

2. Growing Use Cases: Ethereum's smart contracts and decentralized finance (DeFi) applications continue to grow in popularity, making ETH a key player in the crypto space.

3. Inflation Hedge: Many investors are seeing Bitcoin as a store of value amidst growing inflation concerns, leading to increased demand.

4. Global Market Sentiment: With traditional markets showing volatility, crypto is gaining traction as an alternative investment.

What Could Drive Prices Even Higher?

Regulation Clarity: As governments around the world start to provide clearer regulations for cryptocurrencies, more institutional money could flow into the space.

Mainstream Adoption: More companies are integrating crypto payments and blockchain technology, pushing both BTC and ETH to higher levels.

Potential Risks to Keep in Mind ⚠️:

Market Volatility: Crypto markets are highly volatile, and prices can fluctuate rapidly.

Regulatory Uncertainty: The regulatory landscape is still evolving, and any major government intervention could affect prices.

Market Sentiment: Crypto markets are influenced by sentiment, and a negative news cycle can lead to rapid downturns.

Disclaimer: This is not financial advice. Always do your own research and consider your risk tolerance before making any investment decisions. The cryptocurrency market is highly speculative and can be volatile. Past performance is not indicative of future results.

What are your thoughts on the current crypto surge? Do you think Bitcoin and Ethereum will continue to rise, or are we headed for a pullback? Drop your comments below! 📉📈

#Bitcoin #Ethereum #Crypto #Cryptocurrency #Blockchain

Market intelligence platform Santiment suggests #Ethereum ’s institution-dominated supply distribution spells long-term bullish sentiments for the asset.

Read more on: https://thecryptobasic.com/2024/12/17/ethereum-supply-distribution-suggests-long-term-bullish-signal-santiment/
#CryptoNews”

Ethereum’s blockchain shows strong growth, with 130K new wallets added daily and a 4.24% increase in active addresses. This surge in user engagement highlights renewed appeal for Ethereum, setting the stage for a market revival and a positive price prediction trend.
Ethereum Saw Surge in Network Activity with 130,200 New Wallets Daily in December
It was the highest level of new wallet creation seen in eight months. The spike in trading came as ETH continued to try to get back towards $4K. This is a sign that interest in the blockchain was picking up again.
According to Santiment’s data, we saw a rise in new wallet creation for the past few weeks. In early December, this increase showed that Ethereum was growing more attractive.
User participation, which surged, was strong evidence of a possible shift in the broader cryptocurrency market centered around Ethereum, which was leading this recovery.

With more and more users joining the ETH network, its blockchain experienced massive activity. This indicates that people are increasingly confident in the long-term prospects of blockchain.
Ethereum price prediction indicates it could climb higher levels if the spike in wallet creation could be used as a foundation for sustained growth.
– Advertisement –
That renewed interest in the network could be exactly what helps the world’s greatest altcoin recover. That is if it were to continue picking up steam and close in on key resistance levels.
As Market Confidence Goes Up, So Does Ethereum’s Wallet Creation
Mirroring the BTC price bottom, Ethereum’s on-chain metrics also seemed to be indicative of strong momentum, with active addresses improving by 4.24%.
Here, a surge to what pointed to greater engagement with the network, marked a key sign of a healthy usage of a blockchain.
Ethereum seemed to have more active user participation compared to before and would reflect appreciation with respect to price prediction for the short-term.
As active addresses saw an uptick, new addresses have increased 2.65%, indicating that the adoption of Ethereum continues.
This growing number of new users showed just how Ethereum was becoming more popular and now more and more of a key player within the world of cryptocurrency.
When more users created new wallets, the blockchain was injecting more users into its database, making the blockchain even stronger and even more present in the market.
The reduction of zero balance addresses of 4.06% indicated an increase in network appreciation by users.
While inactive wallets decline, the network as a whole continued to grow because more users used Ethereum. The positive trends showed further support bullishness for ETH as adoption continued.
Ethereum Price Prediction: On-Chain Metrics Show Increasing Momentum
At the end of the day, Ethereum’s price stability is largely dictated by its key support levels. An important level for the short-term price action of Ethereum is now the support range of $3,700 to $3,810.
This range represents a large number of wallets that combined bought 4.6 million worth of ETH at these price points, serving as a very strong support base.
Ali’s analysis states that the amount of ETH purchased in this range is at 89.24% ‘in the money’ which suggests that the majority of investors have chalked this one up as a successful trade.
The strong backing behind these price levels kept ETH on its feet and prevented further decline. If ETH’s price stays over this interval, it could function as a cushion bolstering the current support zone and even increase the price.
Since Ethereum’s price could depend upon the ability maintained of holding these levels, the importance of this support range cannot be overstated.
If the price went below $3,700, there could be more selling pressure, as sellers could nip to exit their positions.
But if ETH sustained above $3,810, it could continue to increase, suggesting a bullish price trend.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

#Ethereum #ETH🔥🔥🔥🔥