Crypto Outlook

-BTC: $30,918.07

-ETH: $1,704.63

-XRP: $0.5258

-LTC: $66.66

The global crypto market cap is $1.17T, a 2.43% increase over the last day. The total crypto market volume during the previous 24 hours is $47.92B, which makes a 20.40% increase.

BTC: BTC price increased by 3.00% and 11.04% over 24 hours and the past seven days. The asset reached a low and high of $29,720.31 and $30,814.17, respectively.

Bitcoin is doing really well this year, with its value increasing by 72%. This is surprising to many people who didn’t think it would recover after a big drop in 2022.

There are a few reasons why Bitcoin is going up. The Fed might stop raising interest rates, which is good for Bitcoin. Also, there’s something called a ‘halving’ event coming up, which will make it harder for people who create new Bitcoins (called miners) to earn them, and this could make Bitcoin more valuable.

However, although Bitcoin is increasing, the amount of trading happening is decreasing. Some big companies in the cryptocurrency world, like FTX, BlockFi, and Three Arrows Capital, are facing problems, which is making some investors worried.

Coinbase, a well-known company in the cryptocurrency world, is confident that the government will approve something called Bitcoin ETFs. This could be a big deal because it would make it easier for regular people to invest in Bitcoin. The rules about cryptocurrencies are changing, and old rules are becoming less important, which is a big deal.

But we should be careful as we explore this new financial world. We should be open to new ideas and technology but also pay attention to the possible problems that could come along with them.”

ETH: ETH price increased by 3.91% and 7.40% over 24 hours and the past seven days. The asset reached a low and high of $1,623.98 and $1,699.37, respectively.

A well-known cryptocurrency analyst named Jackis is predicting that Ethereum will perform better than Bitcoin in the next major bull market, which many believe could happen in 2024 or 2025.

Jackis predicts Ethereum has the potential for significant gains compared to Bitcoin in the next cryptocurrency rally. They mentioned that if Ethereum’s price can go above $1,825, it could rise to $3,600 or even higher. Starting from its current price of around $1,600, Ethereum could increase by about 125%.

On the other hand, for Bitcoin to reach $50,000 from its current price of around $29,500, it would need to grow by approximately 70%. With these calculations, JACKIS believes that in a bullish market scenario, the ratio of Ethereum’s value to Bitcoin’s value could increase by at least 40%.

XRP: XRP price increased by 0.74% and 6.57% over 24 hours and the past seven days. The asset reached a low and high of $0.516 and $0.5265, respectively.

Ripple has been facing legal challenges for a while, with the U.S. Securities and Exchange Commission (SEC) accusing the company’s leaders and the legitimacy of its XRP transactions.

It seemed like Ripple’s CEO, Brad Garlinghouse, and its Executive Chairman, Chris Larsen, would have to defend themselves in a court trial set for next year. However, in a surprising turn of events, the SEC has decided to drop its claims against these two important figures. The official explanation is that both sides voluntarily agreed to dismiss the charges against Garlinghouse and Larsen.

The SEC has previously encountered resistance or setbacks in regulating crypto companies. Their aggressive attempts to bring most cryptocurrencies under their oversight by labelling them as securities have faced significant doubts in the legal system.

This is a complicated legal battle, and the outcomes in courtrooms might shape the regulatory framework since Congress has no clear guidelines regarding cryptocurrency regulation.

LTC: LTC price increased by 2.66% and 6.53% over 24 hours and the past seven days. The asset reached a low and high of $63.82 and $66.50, respectively.

Digital Coin Price has made some predictions about the future price of Litecoin based on factors such as its network activity and growing user base. According to their forecasts, Litecoin is expected to experience significant growth in the coming years.

In 2024, the value of LTC will likely exceed $145.17, with a minimum expected price of $138.69 by the end of the year. Additionally, there is potential for Litecoin’s price to reach a maximum of $148.44.

Looking further ahead to 2032, Digital Coin Price anticipates that Litecoin could surpass a value of $1,230.64, with a minimum price projected at $1,225.09 by the year’s end. Moreover, there is potential for the price of LTC to reach a maximum level of $1,233.49.

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