The cryptocurrency market was shaken by Bitcoin’s sudden drop from a 24hr all-time high, $57,600 candle, closing at $53,601 (December 3, 2021) to $42,000.30 down by 22% (December 4, 2021, 13:00 UTC) pulling other coins to bleed. Top coins such as Bitcoin, Ethereum, Solana, Bnb (Binance Coin), Ada (Cardano), Doge coin are still on correction. As of now, Bitcoin consolidates as the market goes red, plummeting because of selling but we’re still currently in a bull market holding a strong support at $49,000. A weekly time frame closed above the 50 MA, holding the line of previous Bitcoin support during the May crash and September red month.
As the world’s largest cryptocurrency, historically speaking Bitcoin has pulled back whenever it reached its all-time high. The recent new all-time high was November 10, 2021, reaching almost $69,000 with a market cap of $1,263,667,113,597 according to coinmarketcap data. Some investors and traders are expecting bitcoin and other cryptocurrency moved lower because of a newly discovered virus, the Omicron variant of the coronavirus, but surely the market will recover. The pullbacks are investors managing their risks after gaining and hearing the news of the Omicron variant. Aside from the cryptocurrency volatility risks, many investors see this opportunity to buy more and hold.
Top coins are still consolidating, despite their own algorithm and blockchain system different from bitcoin; most of them are dependent on bitcoin. Bitcoin is still on its bullish pattern and price predictions from websites and content creators need to watch out.
Many cryptocurrencies were launched within this year and most of them are blockchain tokens, Nfts (non-fungible tokens), and meme coins. But the 2022 cryptocurrency price predictions for top coins as the investors see pullbacks will recover within days.
The price move depends on market volatility, which is normal. The charts presented are based on bitcoin historical data.
For Bitcoin price, expect consolidation within the next few days. Following the historical data chart pullbacks are normal. Bitcoin price started at $29,700, 8:00 UTC January 2021. Today, the Bitcoin price range has a strong bounce support at $47,278.20 to $51,290. Its price increased by +69% from the beginning of the year and will consolidate for the following days.
If it breaks the $57,000 Fibonacci resistance area, bitcoin will pump and we should expect bitcoin dominance against altcoins.
The forecasted Bitcoin price is around $60,000 making +24% from today to year end. For the first half of 2022, the expected price will climb up to $78,466 adding $23,540, gaining +110% by the mid-year in a total of $102,006 by the end of 2022.
Altcoins are the alternatives of bitcoin such as Ethereum, Solana, Bnb (Binance Coin), Ada (Cardano), Dogecoin etc., these are the top coins in trading sites. Along with the crash of bitcoin, altcoins are much on the same level of consolidation. According to forecasts we will expect a high return in the following days and months.
Ethereum the #2 coin on trading platforms is known for decentralized smart contracts and works for many platforms and blockchains. It is still playing the descending triangle with a $4,000 support area, moving up.
The price of Ethereum will increase by the following years which means it’s profitable to invest in claims by forecasters and content creators.
The Ethereum price today (12/07/21, 12:00 UTC) is $4,341.60 USD with a 24-hour trading volume of $25,609,179,230 according to coinmarketcap. Forecasts assume that the price will be $6,737.94 by January 2022. This is an increase by 53.19% from the last month of 2021. By mid-year the cryptocurrency price predictions will be $7,664.99 with a 74.29 % change from previous prices. By the end of year, speculation of price will go around $8,564.99, gaining 94.75 %.
Solana has been growing and is known for its fast transactions. It supports smart contracts and decentralized applications like Ethereum and Cardano. It has interesting projects that are something to look forward to.
The Solana price today, (12/07/21, 1:00 UTC) is $198.10 USD with a 24-hour trading volume of $3,051,005,520. Still in the correction phase and will hit up to $300 by the end of the year if we form a bullish pattern. January 2022 for an 85.71 % increase with its price of $372.18 and by mid-year forecasts it expects 96.93 % gains with a total of $394.65. Solana may have pullbacks by the end of the year with a price of $378.97.
Cardano (ADA) is known for its third-generation public blockchain and decentralization applications. The Cardano price today (12/07/21 2:00 UTC) is $1.44 USD with a 24-hour trading volume of $2,542,649,534 according to coinmarketcap. Investors see it as a long-term investment because the project and vision is promising.
Forecasters predict Cardano’s price in January 2022 will be $2.34 with 62.83 % gains and for mid-year $2.68 with change of 86.29 % and by the end of the year with 97% gains in previous year with average price of $2.84.
Binance coin (BNB) is the native token of a cryptocurrency exchange trading platform called Binance. It was built under the Ethereum Network. The platform was known for its high liquidity, fast transactions, and low trading fees. The Binance Coin price today (12/07/21 2:19 UTC) is $581.37 USD with a 24-hour trading volume of $2,608,304,640 according to coinmarketcap. Forecasters expect a bull market but still the coin is consolidating.
This coin has a possibility of reaching $1,097.94 by January with a change of 88.81 %. By mid-year it will go up to $1,106.35 with a 90.26 % increase and reach $1,147.95 by the end of the year.
Dogecoin (DOGE) is a meme coin and a peer-to-peer and open-source cryptocurrency that was created in the popularity of Shiba Inu, a dog. Most of the doge coin goes to charities with a good cause. It was the huge bomb of 2021 when Elon Musk invest on this coin, it skyrocketed with 5000% gains.
The Dogecoin price today (12/07/21, 2:35 UTC) is $0.180331 USD with a 24-hour trading volume of $1,466,621,610 according to coinmarketcap. Still in the consolidating phase but forecasters expect it to bounce by January 2022 up to 92.02 % with a price of $0.347093526. Mid-year price around $0.3380146087 pullback of 87 % change and decrease price of $0.2858344310 at the end of 2022.
These cryptocurrency price predictions are based on historical data shown and an in-depth analysis of market and other factors that may affect it. The listed coins above have a high rate of profit for next year. Each coin has different purposes and contributes widely to the blockchain. Top coins are good for long- and short-term investment with the possibility of positive return. The bitcoin and altcoins pullbacks are a buying opportunity but still manage your risk appetite and when in doubt, zoom out. Indicators and charts help to lower the chance of loss. The volatility of the market may be substantial to change in years. This is not financial advice and must watch out for price action of the market.
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