Introduction: Bitcoin and Ethereum are two leading digital assets in the crypto market, with any price change having a significant impact on global financial markets. 2024 will be a year of challenges and opportunities for these two assets, with new developments such as the Ordinals protocol in Bitcoin and the upgrade of the Ethereum network.
Bitcoin Technical and Fundamental Analysis: In 2024, Bitcoin has faced significant changes in the market. The Ordinals protocol and the emergence of BRC-20 tokens have made it possible to create transferable and storable tokens on the Bitcoin platform for the first time. This new development has increased demand and trading volume, pushing Bitcoin towards growth. Analysts predict that the price of Bitcoin could reach new heights in the second half of 2024, given the new developments.
From a technical analysis perspective, Bitcoin is approaching its next target of $50,000 after experiencing several price swings in the $30,000-$40,000 range, breaking the $45,000 resistance. This trend is accompanied by strong supports at $40,000 and $35,000. Due to increasing trading volume and new capital inflows, there is a possibility of breaking the resistance levels and reaching higher prices.
Ethereum Technical and Fundamental Analysis: As the second largest digital asset, Ethereum has consolidated its position in the market with new developments such as continuous network upgrades and improvements to its smart contract protocols. The Ethereum network upgrade (The Merge) and the move to the Proof of Stake (PoS) algorithm last year have reduced transaction costs and increased network security. These changes have made Ethereum one of the best investment options in 2024.
Technically, Ethereum is moving towards the $2,500 resistance level. A break of this level could mean the start of a new uptrend, targeting the $3,000 and $3,500 levels. Ethereum’s main supports are at the $2,000 and $1,800 levels, which would be good points for investors to re-enter if the price declines.
Predictions and Conclusion: Forecasts show that Bitcoin and Ethereum will grow significantly in 2024. Technological developments and the influx of new capital have made these two assets attractive points for investors. However, market fluctuations and changes in global monetary policies can have unexpected effects on prices.
Key points for investors:
Follow the latest news and changes in the crypto market.
Continuous technical and fundamental analysis of assets.
Risk management and use of various strategies to reduce losses.
