The cryptocurrency market has faced a correction over the previous week, with the global market cap falling to $1.62 trillion, dropping 2.2% in the last 24 hours. However, many analysts anticipate the market to gain momentum during the holiday season.
Researchers and investors expect the crypto market to enter a bull run in 2024, fueled by the possibility of a spot Bitcoin (BTC) ETF (Exchange Traded Fund) and BTC’s next halving. The expectation of a bull run might prompt investors to buy more assets in the last week of December, leading to price surges. With that, here are our top 3 cryptocurrencies to watch closely this holiday season.
Top 3 cryptocurrency projects to watch this holiday season
Bitcoin (BTC):
Bitcoin (BTC) is the current market leader, and there is a possibility that the original cryptocurrency’s prices will surge later this month. Investors may increase their investments in the asset, given that a spot BTC ETF might see the light of day early next year.
Also Read: Goldman Sachs Predicts Bullish Quarters Due to Spot Bitcoin ETF
Furthermore, in a recent interview with CNBC, VanEck CEO Jan Van Eck expressed his bullishness on BTC. Van Eck also said BTC might hit a new all-time high in the next 12 months.
Solana (SOL):
Solana (SOL) is among the best-performing cryptocurrencies in 2023. Since January 2023, the token’s price has surged by over 597%, far outshining Bitcoin’s (BTC) performance in the same time frame. However, the cryptocurrency has faced a 4.8% correction in the daily charts. However, we may see another surge in SOL’s price towards the end of the year.
Also Read: Solana (SOL) to Rally 600% and Hit $453: Predicts Analyst
Avalanche (AVAX):
Avalanche (AVAX) witnessed a price spike earlier this month due to a collaboration with JPMorgan and Citi. Moreover, the project had a massive token unlock, which may have aided its rally. However, the cryptocurrency has faced a 7.5% correction in the daily charts but is still up by 11% over the previous week. Moreover, AVAX may see another price rally this holiday season.
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