TL;DR
Bitcoin (BTC) saw a brief surge to nearly $100,000 before dropping back down to around $93,000, potentially due to profit-taking and market sentiment. Ripple (XRP) rocketed up to $1.60 but is now sitting at around $1.42, with predictions ranging from $1.60 to as high as $30 by 2025. Shiba Inu (SHIB) experienced a recent local peak and could rally again if it manages to break key resistance levels.
The Primary Cryptocurrency: BTC Price Swings In the past week, Bitcoin has been on an intense roller-coaster ride with its price skyrocketing to an all-time high of almost $100,000 on November 22 before plummeting below $93,00 in subsequent days. On November 25th, BTC dropped even harder and currently sits at a multi-day low of $92,554.
The correction was notably intensified after MicroStrategy announced the purchase of 55,564 BTC for an average price of just under $98,378 per coin – amounting to approximately $5.4 billion in total and marking a new record for the company’s acquiring spree. Despite such massive purchases decreasing the circulating supply of the leading digital asset and potentially leading to a price rally, this time around BTC dropped by 4% since the disclosure was made public.
However, corrections are generally considered part of the market cycle; analysts from CryptoQuant have highlighted factors that may have contributed to this pullback – including Short-Term Holders (STH) taking profits and rising Fear Of Missing Out (FOMO). Nonetheless, on-chain metrics such as MVRV (Market Value To Realized Value) ratio indicate that BTC remains “in a bull market with upward potential.”
XRP Doing Well: Ripple Token Soars Ripple’s native token has been performing exceptionally well in recent weeks with its valuation charting impressive triple-digit rallies across various platforms like CoinGecko or CoinMarketCap over the last month alone!
Last week specifically saw XRP hit three-year highs near USD$16 per coin while now settling just below USD$14 per unit traded between buyers & sellers globally via cryptocurrency exchanges worldwide! This massive resurgence resulted in numerous bullish predictions by pro-XRP analysts who remain optimistic about future growth prospects ahead even though some critics question whether these lofty goals can actually be achieved given current economic conditions surrounding both crypto markets as well as traditional finance sectors alike!
Source
<p>The post Crypto Roller-Coaster: BTC’s Price Swings, XRP’s Soar, and SHIB’s Next Jump first appeared on CoinBuzzFeed.</p>
