Bitcoin surged to nearly $42,000, its highest in 19 months. Factors like the 2024 Bitcoin halving could spur further increases.
Ripple's XRP also rose, reaching $0.64, boosted by bullish market trends and its new trading pairs on Crypto.com.
Solana's SOL increased 15%, hitting $65, with predictions of a significant rise to between $300 and $1,000, as one analyst advises diversifying with Ethereum and Solana investments.
BTC's Jump to Almost $42K
The primary cryptocurrency made the headlines recently, with its price soaring to a 19-month high of almost $42,000 (per CoinGecko's data). The considerable jump seems like a proper ending to the highly successful 2023 for the cryptocurrency industry, while some experts think an additional rally might be in the cards in the following months.
One analyst who touched upon the reasons behind the latest increase is the well-known money manager Jeroen Blokland. According to him, this surge is different compared to the last time the digital asset was trading at these levels:
'The last time Bitcoin topped $40,000 was in May last year. After that, Crypto scandals and lousy overall market sentiment pushed the price down. And while many investors are focused on the halving, it's the acceleration of Bitcoin as an 'accepted' asset class that feels different from the last time we were at $40,000.'
The BTC halving scheduled for the spring of 2024 is only one factor that could propel a further price rally. Others include the next Federal Open Market Committee (FOMC) meeting in the US and the upcoming data revealing the inflation rate in America.
Those curious to find out how high BTC could spike in the near future (according to some prominent individuals) could take a look at our dedicated video below:
What's new Around Ripple (XRP)?
Ripple's native cryptocurrency - XRP - has also experienced a price rise lately, being 4% up on a daily basis and reaching $0.64.
Its uptrend could be attributed to the overall bullish condition of the industry and a recent interaction with the popular exchange Crypto.com.
As CryptoPotato reported last week, the marketplace announced that the trading pairs XRP/EUR and SOL/EUR are now available on its platform.
Those willing to check how Ripple's coin might perform in the remaining month of the ongoing year could take a look at our video below:
SOL Projected for an Astronomical Ascent
Last but not least, we will touch upon Solana's native token - SOL - which hit $65, representing a 15% increase in the past week.
Some analysts, including the X (Twitter) user Crypto King and Jacob Canfield, expect the coin to rise to unseen peaks in the foreseeable future.
The former thinks it could hit a new all-time high of $300 in the long run, while the latter envisioned the price exploding to a whopping $1,000. Canfield also advised people to diversify and invest in both Ethereum and Solana:
'No reason not to have allocations to both. It's like trying to bet on Microsoft or Google. Tesla or Ford. Just buy both.'
The post Newest Ripple (XRP) Developments, Bitcoin (BTC) Price Rally, Bullish Solana (SOL) Predictions: Recap Dec 4 appeared first on CryptoPotato.
— Dimitar Dzhondzhorov of CryptoPotato - Crypto Blog