Market Doldrums Continue as Investors Identify Top Altcoins to Buy in December
Since late last week, the crypto market has been characterized by market doldrums, with Bitcoin price testing resistance at $44,000 and confirming support at $40,000. Despite the uncertainties in the market, investors have been able to identify some of the top altcoins to buy in December. These altcoins are not only expected to provide short-term gains but also benefit from the anticipated bull run in 2024.
Top Altcoins Rally as ETF Approval Approaches
The United States Securities and Exchange Commission (SEC) is expected to approve the first Bitcoin spot exchange-traded funds (ETFs) in January. This anticipation has been driving crypto prices since mid-October. Analysts believe that the approval of a Bitcoin spot ETF is almost certain and that institutions are creating fear, uncertainty, and doubt (FUD) to enter the market at lower prices.
Near Protocol Tops the List of Altcoins to Buy in December
Near Protocol has emerged as one of the top altcoins to buy in December. The token’s price has increased by 26% on Wednesday and has shown a steady uptrend. Near Protocol supports blockchain developers’ initiatives and aims to build decentralized applications (dApps) on different protocols. Despite being down from its all-time high, Near Protocol has seen significant gains over the past month and is expected to continue its upward trajectory.
DIA Explodes as Investors Scoop Top Altcoins
DIA, a token that provides oracles for web3 and has rallied 55% in 24 hours, is another top altcoin to consider. DIA has integrated with various chains and partnerships, enhancing decentralized finance (DeFi) apps. While the token is overbought and may face overhead pressure, a daily close above $5 could indicate further upside potential.
Avalanche Price Prediction: AVAX Aims for $100
Avalanche (AVAX) has experienced a massive rally, with investors snatching up the token due to its solid technology and potential for explosive growth during the anticipated bull run in 2024. While the uptrend is intact, a break above immediate resistance at $45 would confirm the bullish theory and attract more investors.
Hot Take: Top Altcoins Present Opportunities for Crypto Investors
The crypto market may currently be experiencing doldrums, but there are still opportunities for investors to profit. Identifying top altcoins with potential for short-term gains and long-term growth is crucial. Near Protocol, DIA, and Avalanche are among the altcoins that have shown promising performance recently. As the approval of Bitcoin spot ETFs approaches, crypto prices are expected to rise, leading to potential explosive gains. Consider investing in these altcoins and keeping an eye on market developments to make informed investment decisions.
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