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So, let's take a closer look at the Jupiter project. It was added to the cryptocurrency rating at the end of January 2024. The price of the JUP coin was $0.66. The following month, its value dropped to $0.45, thereby recording its minimum. But already in March, the first bullish wave began and the JUP coin soared to 1.76 per dollar. This was its absolute record.
There was half a year left until the next bullish wave and the JUP coin was trading in the region between $0.7 and $1.1 per coin all this time.
In November, the second bullish wave came, which pushed the JUP coin to $1.38. Unfortunately, JUP could not surpass its previous record. As we can see, the coin failed to overcome the result of March. This is a bad indicator and its prospects are not bright.
As usual, after December 17, 2024, we have 2 forecasts.
The first is that the bullish growth is already behind us. Today, the bears rule the market. In this case, Bitcoin and all cryptocurrencies will slowly become cheaper. And when Bitcoin drops to the level of 50 thousand dollars, the JUP coin will trade around 0.1 dollars. We continue to bet 70% on this option
As for the second option, when the market is waiting for the 3rd bullish wave and Bitcoin theoretically rises to the mark of 160 thousand dollars, then the JUP coin can shoot up to 3 dollars. But we estimate this probability at no more than 30%.