Bitcoin (BTC) consolidation boosts Everlodge (ELDG) and Injective (INJ)

cryptonews.com:

Bitcoin’s recent bull run took the crypto market by storm. Hundreds of projects surged in value, and Bitcoin hit its highest price in 2023. Now, a recent consolidation has driven up the price of Injective and Everlodge, with Everlodge hitting a new all-time high after stage seven of its presale sold out. With Injective now chasing a new all-time high, investors are excited as to how high it could go.

Bitcoin recently passed $43,000 following the announcement of a potential U.S. spot Bitcoin exchange-traded fund (ETF). This announcement was made by the asset manager at BlackRock, who stated that its policy had now changed to allow Bitcoin redemptions. While the SEC still needs to make a decision about spot ETFs in January, the crypto market remains optimistic.

Prior to this announcement, some crypto experts predicted that Bitcoin could fall below $40,000 by the end of the year. However, Bitcoin’s value is up by 2.83% over the last week, with one BTC trading at $42,948. Should Bitcoin pass $43,000 again in 2023, experts believe it could reach $45,000 in January, and potentially pass $50,000 in Q1 of 2024.

Injective hit a new all-time high of $39.88 on December 19th. This has triggered a 99% increase in Injective’s daily trading volume, which has passed $585 million. This new ATH comes following a 50% price rally over the last 7 days, and has made Injective one of the best performing cryptocurrencies in December.

This recent surge was linked to an increase in trading volume for INJ perpetual futures contracts, which hit over $25.5 billion in a single day. Furthermore, with Injective now being listed on a number of exchanges, the project has become easier to buy. As Injective continues to gain popularity, experts predict that