Bitcoin continues to set new historical highs, just a step away from the $100,000 mark. A recent report from BCA Research shows that there is still room for Bitcoin to double in this bull market: "Although we should expect Bitcoin to experience a short-term correction, the structural upward trend of Bitcoin remains intact, with the ultimate target being above $200,000."
However, according to the chart below, while the reversal opportunity has not yet reached 1.2, it is close to 1.4, and BCA's expectations may be overly optimistic.
As Bitcoin is about to hit $100,000, the long-silent Ethereum has also shown a strong surge last night, rising 7.5% within three hours, peaking at $3,386. Layer 2 projects were also inspired to rise, with OP leading the gains at over 20%, and Arbitrum seeing an increase of about 12% in the last 24 hours.
Invest in 3 cryptocurrencies with a potential 100x increase!
1.TAO
Bittensor (TAO) is the core of a decentralized AI ecosystem developed by Digital Currency Group (DCG). Under the leadership of Barry Silbert, DCG has recently focused on expanding into decentralized artificial intelligence. The group plans to incubate and develop businesses utilizing decentralized AI through its new venture, Yuma. The Bittensor network incentivizes users to contribute computing power and data for tasks such as text translation, data storage, and protein structure prediction.
The current price of TAO is $468.03, with a daily change rate of 2.28%. The market cap of the token is $3.45 billion, and the fully diluted valuation is $9.83 billion. Its circulating supply is 7.38 million, while the maximum supply cap is 21 million.
Bittensor's growth over the past year has been remarkable. The price has increased by 85%, outperforming 53% of the top 100 cryptocurrencies during the same period. Additionally, its trading price is 282.06% higher than the 200-day simple moving average.
Predictions for December 2024 indicate that the trading price of TAO may range between $1,601.05 and $2,271.45, with an average price of $1,985.22. If these predictions hold, investors could see a return on investment of up to 386.66%. TAO has high market cap liquidity, with a 24-hour trading volume of $338.7 million. The ratio of this trading volume to market cap is 9.71%.
2.OP
Optimism (OP) is currently priced at $2.08, having risen 19.58% in the past 24 hours. This price increase has brought its market cap to $2.59 billion, with a trading volume of $857.19 million. The fully diluted valuation (FDV) is $8.85 billion, and the total supply is 4.29 billion OP, which is the maximum supply.
Over the past year, Optimism has risen by 22%, and its current trading price is 30.09% higher than the 200-day simple moving average (SMA) of $1.60. This indicates a relatively strong market performance.
In November 2024, predictions indicate that prices may rise to $3.39. Prices that month may range from $1.70 to $5.85. If these predictions come true, investors could achieve a potential return of 178.23% based on the current price. Entering December 2024, the price of Optimism is expected to be between $5.73 and $8.15. The monthly average price could reach $7.12, representing a potential return rate of 287.51%.
3.MKR
Maker (MKR) is currently valued at $1,540.14, having risen 2.05% in the past 24 hours. Over the past year, its price has increased by 5%.
Predictions for November indicate that prices may rise, expected to reach $2,359. This month's estimated trading range is between $1,472.47 and $2,759.40. This range may be influenced by last month's market performance. If the price reaches the upper end of the range, investors could achieve a return of up to 79.18%. This assumes they buy at the current price and sell at the predicted peak.
By December, the trading price of the token is expected to fluctuate in a larger range of $2,610.72 to $4,098.78. Analysts predict that the average price will reach $3,561.04 by the end of this year. Compared to the current value, this would represent an increase of about 131.23%. For those entering the market now, if the prediction holds, this could mean an investment return (ROI) of up to 166.15%.
