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In a recent market analysis, prominent trader Henrik Zeberg has set the stage for an exhilarating weekend in the cryptocurrency sphere. As the crypto market experiences a slight pullback from multimonth highs, Bitcoin (BTC) and Ethereum (ETH) emerge as resilient giants, says the analyst.
BTC, eyeing an impressive $42,000 target, surged an astounding 30% since October, while ETH firmly held ground above the $2,000 mark.
Which altcoins are in the spotlight, and where do we stand before the weekend?
β π‘π²π΄π²π»ππΏπΌπ½πΆπ° (@Negentropic_) December 1, 2023
Following a surge to multi-month highs, the #crypto market is experiencing a slight pullback.
Despite this, $BTC and $ETH stand resilient - BTC eyes $42k after a stellar 30% rally since October,β¦ pic.twitter.com/Ott13MPJx8
However, the plot took an unexpected turn just hours later, as the Bitcoin price chart turned a vibrant green, displaying an intraday gain of over 2.2%. Surpassing its 2023 high, BTC reached its pinnacle value since May 2022. What distinguishes this surge from that period is the upward trajectory, signifying bullish momentum.
Henrik Zeberg's keen insights extend beyond Bitcoin to a selection of altcoins that are currently in his spotlight. Notably, Solana (SOL) is up over 3%, Cosmos (ATOM) has surged 1.8%, Sei (SEI) is up 3.2% and Chainlink (LINK) has risen by 2.44%.
While Henrik Zeberg has already outlined the price ceiling for Bitcoin at $42,000, the burning question remains: will the market giant reach this milestone according to the trader's expectations?
As crypto enthusiasts eagerly await the unfolding of events, the positive momentum in both Bitcoin and altcoins suggests interesting times ahead on the ever unpredictable crypto market.