The cryptocurrency market is showing bullish signs as Bitcoin holds above $37,000.
Bitcoin’s demand is expected to surge between two to 10 times by the end of 2024, according to MicroStrategy co-founder Michael Saylor.
Analysts project that Bitcoin could hit at least $110,000 in its next bull cycle.
Several major altcoins, including VeChain, Immutable, The Graph, and Algorand, are also performing well and may outperform in the near term.
VeChain has completed a double bottom pattern and could rally to $0.028 if it breaks above $0.023.
Immutable has seen a sharp rise and could rally to $1.59 if it breaks above $1.30.
The Graph has corrected after a sharp up-move but is still in an uptrend with a target of $0.21.
Algorand is forming a rounding bottom pattern and could reach $0.20 if it breaks above $0.14.
Overall, the cryptocurrency market is showing positive signs, with both Bitcoin and altcoins performing well.