The last days of the year are challenging for cryptocurrency investors, yet BTC remains above $90,000. This signifies a strong position compared to the start of the year. What are the current forecasts from experts regarding the markets? What can investors expect in the upcoming days? A notable analyst draws a parallel between these times and 2021.
Comparing 2021 and 2024 Cryptocurrency Markets
In 2021, altcoins reached exciting peaks while BTC hit all-time highs. However, concerns over the Fed’s interest rate hikes led to a downturn by the year’s end. Altcoins did not consistently rise in 2021; they experienced corrective phases and delivered anticipated gains post-halving.
Jelle believes the current situation mirrors that of 2021 and hints at signals leading into 2025.
“The current performance of altcoin prices reminds me of Bitcoin
$95,487’s first major pullback in 2021. I am quite confident that a lower peak and some breakouts around lower levels will occur before the next rise.”
SOL Coin and Cryptocurrencies
In a recent chart, analyst Jelle highlighted a target of $210 for SOL Coin. At the time of writing, SOL Coin was just below $190 and attempted a breakout in the past 24 hours without success. Given BTC’s decline below $96,000 due to negative opening trends in the US markets, it appears SOL Coin may struggle to surpass its critical threshold for a while.
Kyle’s perspective on SOL Coin is much more optimistic.
“Since December 2022, SOL has outperformed BTC and ETH in capital growth percentage. It has shown better performance for 389 out of 727 days, proving itself as one of the fastest-growing blockchain assets.”