Cryptocurrencies Price Prediction: Hedera, Altcoin & Crypto – European Wrap 3 December
Trending altcoins: Hedera, VeChain and Algorand extend rally by posting double-digit gains
Three trending altcoins – Hedera (HBAR), VeChain (VET), and Algorand (ALGO) – post double-digit gains on Tuesday after surging last week, benefiting from the recent consolidation of Bitcoin prices. Historically, altcoins outperform whenever Bitcoin takes a breather after a significant rally as profits rotate into smaller-cap coins, which can be seen in the recent surge in these altcoins. The technical outlook suggests that the bulls still have steam to push these three meme coins for extra double-digit gains, although momentum indicators are in overbought levels.
Altcoin season kicks off as Bitcoin hits ceiling
The cryptocurrency market is up 0.1% over the past 24 hours, but a closer look reveals that the market has hit resistance at $3.50 trillion twice since the beginning of the week, pulling back to the current $3.46 trillion.
Trump era sparks hope for crypto-friendly laws
With just weeks before Donald Trump takes office as the 47th President of the United States, optimism in the crypto industry is growing. Many believe the new administration will bring friendlier regulations and a more supportive approach to digital assets.
Author
FXStreet Team
FXStreet
