The cryptocurrency market experienced quite a bullish outbreak last month. The bull run was most likely triggered by Donald Trump’s victory in the US Presidential election. Despite the bullish breakout, the market has faced a significant correction in the last few days.
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Why Is The Cryptocurrency Market Dipping?
The latest market dip is likely due to the Federal Reserve taking a hawkish stance after the latest FOMC meeting. Inflation in the US increased slightly to 2.7%. The Fed announced only two interest rate cuts for 2025, as opposed to three. High interest rates often lead to investors taking less risks. Cryptocurrencies are risky assets and usually take a hit under such circumstances.
Despite the hawkish stance from the Federal Reserve, the crypto industry is expected to flourish under Trump’s leadership.
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Top 3 Cryptocurrencies That May Hit New Peaks In Q1 2025
1. Bitcoin (BTC)
BTC is the market leader, and other assets tend to follow its trajectory. BTC recently breached the $100,000 mark for the first time in its history.
According to CoinCodex, the original cryptocurrency could surge to a new all-time high of $140,530 on Mar. 21, 2025. Hitting $140,530 from current price levels will entail a rally of about 47.46%.
2. Binance Coin (BNB)
Binance’s BNB token also experienced a bullish outbreak. The cryptocurrency hit a new all-time high of $788.84 earlier this month.
According to CoinCodex, BNB will breach the $1000 mark next year. The platform anticipates the asset to hit $1064.85 on Mar. 20, 2025. Hitting $1064.85 from current price levels will entail a rally of about 58.51%.
3. Dogecoin (DOGE)
DOGE’s price began to rally after Trump’s victory due to his closeness with Elon Musk. Trump has also greenlit the creation of a Department Of Government Efficiency (D.O.G.E.) upon Musk’s request.
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According to CoinCodex, DOGE will breach the $1 mark next year. The platform predicts the meme cryptocurrency to hit $1.23 on Mar. 23, 2025. Hitting $1.23 from current price levels will translate to a rally of about 296.77%.
