- Bitcoin price dips slightly after reclaiming the $97,000 price mark.
- Altcoins show strong bullish indicators following Bitcoin’s short pump.
- Algorand (ALGO) could see a 60% uptrend after a price breakout.
Bitcoin has reclaimed the $97,000 mark only to dip back to the $96,000 price range. Still, this pump was an indication of the pioneer crypto asset’s resilience and reaffirms its dominance in the crypto market. The latest price surge has not only restored bullish sentiment but also lifted the Crypto Fear & Greed Index to a score of 70, reflecting growing market confidence.
Bitcoin Dips After Soft Rally
Despite Bitcoin soft pump and slip, expectations for new BTC ATHs in the New Year are stronger than ever. Market experts predict BTC will surpass its previous all-time high of $108,268.45 and continue its upward trajectory. Greater targets for BTC have been set by seasoned analysts from between $115,000 and $235,000.
Altcoin Algorand Could See a 60% Pump
Meanwhile, altcoins are also attracting attention as historical data suggests that every Q1 following a Bitcoin Halving year ushers in the peak of altseason. With conditions aligning for another bullish cycle, analysts are optimistic about the potential for explosive growth among promising altcoins. One such altcoins is Algorand (ALGO).
As we can see from the post above, this analyst believes the altcoin is poised for a potential 60% breakout. According to CoinMarketCap analytics, the price of ALGO currently stands at $0.39 showcasing that the asset is up by almost 10% since the last 24 hours. The analyst insists that a decisive close outside the $0.39–$0.32 range will set the direction of an ALGO uptrend.
