Today is Double Eleven; Bitcoin broke through the $80,000 mark yesterday at 4 PM, reaching a high of $81,800 today. As of the time of writing, Bitcoin is fluctuating slightly around $81,000. Some are worried that Bitcoin is about to peak? In fact, it is difficult for Bitcoin to have a deep correction, and it will experience slight fluctuations.
After hitting a peak of $73,000 on March 14, 2024, Bitcoin soared dramatically two days ago after more than six months of consolidation. The bull market in cryptocurrency is now blazing like a roaring fire! Altcoins are dancing wildly! It feels like the first half of 2021 is back.
This week, Federal Reserve officials will speak in succession, and additionally, the U.S. CPI and PPI data for October will be released, along with the retail sales data, which has been referred to as 'terrifying data.' In last week's press conference, Federal Reserve Chairman Powell clearly stated that the pace of future interest rate cuts will be dynamically adjusted based on economic conditions. The current economic outlook is fraught with uncertainty, leaning more towards gradually approaching a neutral interest rate. Specifically, the U.S. CPI data for October will be announced on Wednesday, PPI data will be released this Thursday, and on Friday, the market will focus on retail sales data, all of which could influence the expectations for rate cuts in December.
Layout these 3 must-not-miss 100x altcoins!
UMA
Recently, the market has started to gain momentum, and the currently strong altcoins are still the old DEFI projects. I recommend UMA, which is a very promising oracle project with many institutions holding positions. Once it starts to rise, it will perform well. I suggest buying a portion at the current price of 2.8; if you think it's high, you can buy in batches.
STRK
StarkNet is a permissionless decentralized Validity Rollup, commonly referred to as a ZK Rollup. StarkNet operates as a second-layer network on Ethereum, allowing decentralized applications to scale computations without sacrificing Ethereum's security or composability.
Currently, the price of StarkNet (STRK) is $0.475017, having risen 11.52% in the past 24 hours. Market indicators suggest bullish market sentiment, with a greed index of 69, indicating a moderate level of greed in the market. In the past month, STRK has performed well, with 15 out of the last 30 days closing higher than the opening price, and a price volatility of 6.31%.
Based on these indicators, some forecasts suggest that by December 10, 2024, StarkNet could potentially reach $1.496763, representing an expected increase of about 227.18%. With good market sentiment and strong liquidity relative to its market capitalization, StarkNet may provide investment opportunities for those looking to capitalize on its potential growth.
SOL
Solana has made waves in the blockchain world due to its focus on scalability and speed. Competing with giants like Ethereum and Cardano, Solana provides a foundation for decentralized applications. Its unique architecture allows for faster transactions and flexible development across multiple programming languages. At the core of this ecosystem is SOL, Solana's native cryptocurrency. SOL supports transactions, runs custom programs, and rewards those who support the network.
The potential of SOL lies in its ability to support high-capacity networks without relying on additional layers or complex scaling solutions. This makes it attractive to developers and investors seeking efficiency. In the current market, as the demand for faster blockchain solutions continues to grow, SOL stands out. While Ethereum faces challenges of congestion and high fees, Solana's speed offers a compelling alternative. Many projects already exist on Solana, and for those interested in next-generation blockchain technology, SOL looks promising.
