Why are cryptocurrencies becoming more expensive, and what awaits them in the near future?
The record growth of cryptocurrencies in November 2024 made many people ask themselves the question - Why are cryptocurrencies rising in price and why didn’t I buy them earlier.
After the election of US President Donald Trump, first Bitcoin, and then most altcoins, began to rise sharply in price.
In just 10 days, Bitcoin grew by 29%, and such popular altcoins as Riplle by 110%, Dogecoin by 115%, Cardano by 125%.
The reason for this growth is the victory of Trump in the presidential election, who several months ago announced that after becoming president he would make Bitcoin one of the reserve assets for the American dollar.
These facts became an incentive for large investors to purchase large volumes of cryptocurrencies after the announcement of the election results in the United States. This step did not go unnoticed and the market went up sharply.
Thus, the answer to the question why cryptocurrencies are now becoming more expensive is more than obvious - Everyone is waiting for Trump to fulfill his promises to include Bitcoin, and possibly some other cryptocurrencies, in the US gold and foreign exchange reserves.
What does the future hold for cryptocurrencies?
Now I would rather bet not on Bitcoin, but on altcoins such as Riplle and Stellar, the price of which has not yet reached its maximum, and there are not so many coins issued.
According to many experts, Riplle could rise in price to $3 per coin, and Stellar could reach $1. That is, according to the most conservative estimates, you can still earn up to 200% profit on them.
An additional price incentive for Riplle is that this particular cryptocurrency is a candidate for the release of its own ETF - Bitwise has filed an application to launch an ETF , if this happens, the coin is likely to break the $5 mark.
You can buy the altcoins and bitcoin listed above from licensed cryptocurrency brokers, the main thing is to do it on time.