On Friday (November 22), after Bitcoin soared to $98,979, it continued to fluctuate above $98,000. SEC Chairman Gary Gensler confirmed he would step down on January 20, 2025, when Donald Trump is sworn in, the court overturned the broker-dealer rules set by the SEC, and the Consumer Financial Protection Bureau (CFPB) excluded crypto wallets from regulation.
Ethereum rebounds, L2s rise together
As Bitcoin is about to hit $100,000, the long-silent Ethereum also saw a strong surge last night, rising 7.5% within three hours, peaking earlier at $3,386.
Layer 2 tracks also rose in response, with OP leading the gains in the past 24 hours, rising over 20%, and Arbitrum also seeing about a 12% increase.
Bitcoin Technical Analysis
Economies.com reports that Bitcoin successfully achieved the awaited new target of $97,500 and encountered strong resistance nearby, currently showing some bearish bias, influenced by random negativity, waiting for a positive motive to drive the price back to a bullish wave, with the target being the $100,000 barrier as the next main station.
EMA 50 continues to support the suggested bullish wave, unless it breaks the 93,260 level and stays below it, the wave will remain valid.
The current expected trading range is between the support level of $94,000 and the resistance level of $98,500.
After nearly a 200% increase over the past 30 days, Dogecoin traded at $0.38 on Thursday. Elon Musk's close relationship with elected President Donald Trump has propelled this meme coin up the rankings. Trump is demonstrating a friendly relationship with the cryptocurrency market by considering appointing key figures with a background in blockchain technology. Investors believe that Musk's close ties to Trump could help Dogecoin soar up the rankings.
The latest price predictions show that Dogecoin could reach $1 by early 2029. With five years left from today, it is seen as a long-term hold. Additionally, its price would need to rise nearly 245% to hit the price target. Therefore, if the prediction is accurate, an investment of $10,000 today could turn into $34,500.
"Predictions for 2029 indicate that DOGE will experience significant growth, with an expected range of $0.73 to $1.3. Investors may anticipate a potential return on investment of 245%, consistent with this year's bullish outlook," the forecast stated.
