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Cryptocurrencies Price Prediction: Hedera, Altcoin & Crypto – European Wrap 3 December

Cryptocurrencies Price Prediction: Hedera, Altcoin & Crypto – European Wrap 3 December
FXStreet TeamFXStreet TeamFXStreet

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. 

Chart

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.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Bitcoin: BTC drops below $68,000 as oversold signal fails to stop sellers

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