Current Rally in BTC and Altcoins Can Face Nothing More than a Short Term Correction, since Fundamentals and New Political Climate Became Sharply in Favor of its Continuation

Bitcoin (BTC) jumped as much as 6.1% on Sunday and extended gains to hit an unprecedented $82,445 on Monday, at the time of writing. Many altcoins rallied even more impressively. Thus, legendary memcoin Shiba Inu (SHIB) and Dogecoin (DOGE), a meme-crowd darling promoted by Elon Musk, have soared 40%-80% on a weekly basis. The clear weekly winners are Cronos (CRO, +104% WoW), followed by Ethena (ENA, +90.1% over the same period) and Dogecoin (DOGE, +84.1%). Some 263 candidates loyal to the crypto industry were elected to the U.S. House of Representatives, while only 118 politicians are against the popularization of digital assets.

By the end of 2024, the set of macroeconomic factors has become extremely favorable for the continued growth of crypto markets. This was stated by analysts of the largest U.S. crypto exchange Coinbase (COIN) in a newly published report. They note that Donald Trump's victory in the U.S. presidential election last week promises the industry good changes in the context of regulation. In addition, the experts focused on a new round of growth in the sphere of meme tokens — especially those created on the basis of the Solana network.

In their turn, experts at Standard Chartered have predicted an increase in the total market capitalization of the industry to USD 10 trillion. In this case, Bitcoin can expect a jump to 200,000 apiece.