Crypto market analysts predict that there may be a correction in December. In November, analysis of the performance of the top 100 cryptocurrencies showed that funding rates were overheating. This created short-term profit taking expectations among market participants. So where will cryptocurrencies go? Here are analyst views and expectations for what may happen in December.
November’s Winning Cryptocurrencies: Stellar and XRP
Stellar (XLM) led the market with a 478% gain in the last 30 days. Virtual Protocol (VIRTUAL) followed with a 336% gain. XRP and Algorand (ALGO) stood out as the third best performing assets in November with a 268% gain. These four altcoins were among the main digital assets that determined the direction of the market.
Analysts are expecting a correction in the market after such gains. However, long-term investors still maintain their confidence in cryptocurrencies. Projects such as Stellar and XRP are approaching the overbought zone in terms of technical indicators.
Bitcoin Breaks Record: Near $100K
Donald Trump’s US presidential victory sparked the November rally. Since November 5, Bitcoin (BTC) has gained 48% to reach a new all-time high of $99,800. This surge has pushed Bitcoin past its pre-halving peak of $73,000 and set off a market-wide rally.
However, Bitcoin’s proximity to the $100,000 psychological limit creates a complex situation for investors. Technical indicators indicate that the market has moved into overbought territory. This could lead to profit booking by long-term investors. On the other hand, some analysts believe that the market could enter a consolidation period before a new rally.
Trump’s Crypto-Friendly Policies and Their Impact on the Market
As we reported at Kriptokoin.com , Trump’s crypto-friendly campaign promises are increasing positive expectations on the market. The policies of the new administration will significantly shape the long-term tragedy of digital assets. These developments require investors to closely follow market dynamics.
According to analysts, the expected correction in December could pave the way for a larger rally. In particular, technical indicators and macroeconomic conditions point to the potential for the market to recover. Therefore, investors must strike a balance between short-term profit expectations and long-term goals.
To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channel
