Bitcoin (BTC) Price Volatility, Bullish Dogecoin (DOGE) Predictions, and More: Bits Recap Dec 24

Bitcoin (BTC) Price Volatility, Bullish Dogecoin (DOGE) Predictions, and More

TL;DR

• Bitcoin (BTC) hit a record high of $108K but dropped to $94K due to Jerome Powell's comments on interest rates.
• Dogecoin (DOGE) analysts predict a parabolic rally despite a 20% dip to $0.32.
• Shiba Inu (SHIB) fell 17% in the last week but shows signs of recovery, with analysts expecting a 20% rebound.

BTC's Rollercoaster

On December 17th, Bitcoin (BTC) reached an all-time high of over $108,000. However, it has since experienced a significant correction. On December 23rd, it fell below $93,000 but recovered to its current price of $94,000.

Jerome Powell's recent comments at the FOMC meeting may have influenced the asset's valuation. He announced a 0.25% interest rate cut but warned that this policy might be paused next year due to rising inflation concerns. He also stated that the central bank is not permitted to hold BTC.

What's Next for DOGE's Price?

The recent correction has impacted Dogecoin (DOGE), which is currently trading at around $0.32. Analysts remain optimistic, predicting a significant rally based on historical patterns.

Ali Martinez suggests that history could repeat itself, with DOGE experiencing a 12,000% price increase. However, it's important to note that such an increase would require DOGE's market cap to exceed $5.5 trillion, which is currently unrealistic.

How's SHIB Doing?

Shiba Inu (SHIB) has also faced a decline, with its valuation falling by 17% in the past week. Analyst Rose Signals Premium believes that SHIB is showing signs of strength and identifies a support zone and target price for a potential 20% rebound.