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Crypto

Many analysts have been asking, “Can Solana reach $100 before the New Year?”. As I stated a month ago, I think that Solana will surely be the Ethereum of 2024. $100 will just be a pit stop on the path to the moon as it continues to garner developers and investors from retail and institutions alike. 

Bitcoin had its first real price decline in nearly three weeks, and while not fully formed, the weekly candle nearly erased all of last week’s gains at its low of $40,181. On December 10th BTC exhibited a flash crash followed by a partial recovery.

Bitcoin has had one hell of a week, month, and year when you consider that Bitcoin began 2023 at around $16,600. This puts BTC’s gains so far in 2023 at $28,000 or 170%. Today’s high matches up with a 38.2% Fibonacci retracement from the 2020 March lows to the all-time record high.

Bitcoin traded higher this weekend as well as on Monday, up over 7.6% in that period. This created this first weekly gap in the CME’s Bitcoin futures’ chart since January, when pricing topped $20,000 for the first time in 2023. This gap to the upside occurs at the highest price point of any bullish gap on the weekly CME futures’ chart in history and brought BTC futures above $42,000.

Bitcoin is set to close out the month of November, posting gains for the third month in a row. Currently, BTC has gained around 10% this month which paints the picture of a trending market in the hands of the bulls. Over the past three months if Bitcoin has moved higher, gaining $13,500 or around 54%.