Bullet Points:
• Crypto space has slightly risen beyond bearish captivity after experiencing dreadful days in 2022.
• Bitcoin price has dropped slightly after reaching heights of $18,385, while majority of altcoins have seen an increase in price.
• Analysts predict a bull run for the altcoins APE, DyDx, GMT, and SAND in the coming month.
The crypto space has experienced a difficult past year, with the majority of cryptocurrencies suffering from a bear market and reaching all-time lows in terms of market capitalization. However, after experiencing such dreadful days in 2022, the crypto space has slightly risen beyond the bearish captivity and is now showing a slight glimmer of hope.
The flagship crypto, Bitcoin, after surging above $18,000 to mark highs at $18,385, is facing some bearish action. This has resulted in the price dropping slightly. However, the price of the majority of the altcoins has been inflated to a large extent. Ethereum has seen an increase in its price and is currently trading at $1400, while Dogecoin has seen an increase in its price and is currently trading at $0.08. Polkadot has also seen an increase in its price and is currently trading at around $5, while Ripple has seen its price increase and is currently trading at $0.3816.
Analysts have predicted that some of the altcoins could undergo a major breakout in the next 30 to 45 days. A well-known analyst, Mac, has suggested that some of the tokens with 100% inflation are closer to undergoing a breakout in the coming days. He has mentioned four tokens – APE, DyDx, GMT, and SAND – as the ones which could experience a bull run in February.
APE, in particular, is expected to experience a major breakout in the coming days. DyDx, GMT, and SAND are also expected to experience a bull run in February. Analysts have suggested that investors should keep an eye on these altcoins in the coming days and weeks.
Investors should also be aware of the risks associated with investing in any cryptocurrency. While some altcoins may experience a bull run, there is always the risk of them not performing as expected and incurring losses. Therefore, investors should always do their own research before investing in any cryptocurrency.
