2024 Bull Run Predictions: Top 10 Cryptocurrencies to Watch!
1. Bitcoin (BTC) - DigitalGold Often hailed as digital gold, Bitcoin stands strong as the flagship cryptocurrency. With a limited supply and growing institutional adoption, BTC is poised to play a pivotal role in the 2024 crypto surge. 🌐🔒
2. Ethereum (ETH) - SmartContracts Leading the smart contract revolution, Ethereum gears up for significant upgrades, including Ethereum 2.0. Enhanced scalability and efficiency make ETH a formidable contender in the upcoming bull run.
3. Cardano (ADA) - Sustainability Cardano's commitment to sustainability, scalability, and decentralized governance has caught the eye.
4. Solana (SOL) - FastTransactions Solana shines with lightning-fast transaction speeds and low fees. Its expanding DeFi and NFT ecosystems position SOL as a top performer in the anticipated bull run.
5. Polkadot (DOT) - Interoperability Polkadot's interoperability and parachain technology make it a key player.
6. Chainlink (LINK) - OracleProvider As a leading oracle provider, Chainlink bridges smart contracts and real-world data. Its integral role in DeFi and NFT sectors may contribute to a strong performance in 2024.
7. Binance Coin (BNB) - BinanceEcosystem Deeply integrated with the Binance ecosystem, BNB offers reduced fees and user incentives. Its utility and adoption could drive demand in the 2024 bull run.
8. Tezos (XTZ) - SmartContractSafety Focused on smart contract safety and upgradability, Tezos boasts a growing DeFi presence and institutional interest.
9. Algorand (ALGO) - EcoFri Algorand's fast transaction speeds and low energy consumption make it an eco-friendly option. Partnerships and use cases in finance and blockchain infrastructure could lead to notable gains in the upcoming bull run.
10. Avalanche (AVAX) - Scalability Avalanche's consensus mechanism and subnets enable high scalability and customization. With DeFi projects migrating.
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DODO is a decentralized exchange that facilitates omni-trading across various blockchain networks. It uniquely supports Ethereum rollups and Bitcoin Layer 2s, allowing users to seamlessly trade Bitcoin and Ethereum tokens, yields, and points all in one integrated platform, while also benefiting from restaking incentives offered by ecosystem partners. DODO's product features and use cases: DODO offers a variety of DeFi tools, including token trading, liquidity mining, token creation and initia
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DODO is a decentralized exchange that facilitates omni-trading across various blockchain networks. It uniquely supports Ethereum rollups and Bitcoin Layer 2s, allowing users to seamlessly trade Bitcoin and Ethereum tokens, yields, and points all in one integrated platform, while also benefiting from restaking incentives offered by ecosystem partners. DODO's product features and use cases: DODO offers a variety of DeFi tools, including token trading, liquidity mining, token creation and initial
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After Bitcoin's price briefly broke past $72,000 for the first time in April, several altcoins posted gains, breaking out of the general crypto market stalemate. For example, Ethereum (ETH), XRP, Toncoin (TON), Cardano (ADA), and Avalanche (AVAX) are all up 8.4%, 4.8%, 17.7%, 4.7% and 3.1%, in the past twenty-four hours, respectively.
The recent price surge comes off growing anticipation for the fourth Bitcoin halving, which is eleven days away. The Bitcoin halving, which will reduce the inflationary rate of Bitcoin by 50%, will see miners facing a depletion in mining rewards.
After every halving event, Bitcoin usually records substantial price increases. Due to its high correlation with other assets in the crypto market, several altcoins also follow suit and see significant price growth. Data from CoinGecko shows that Bitcoin and altcoins' prices usually grow to new highs after halving events.
Hence, Monday's buying spree in Bitcoin and altcoins may represent investors' preparation for another potential post-halving bull run. This coincides with a recent prediction by Ripple CEO Brad Garlinghouse, who expects the crypto market to double in size to $5 trillion by the end of the year.
However, Glassnode and Coinbase analysts have said that the halving effect may already be priced into Bitcoin as the largest digital asset broke its previous all-time high for the first time before a halving event.
Bitcoin's Price Outlook: With the BTC halving approaching in two weeks, there's a potential buying opportunity as Bitcoin may retest the supply zone between $58,375 and $65,518. BTC is currently overbought, indicated by the falling Relative Strength Index (RSI) and decreasing histogram bars on the Awesome Oscillator (AO). While consolidation around $69,000 on the weekly timeframe suggests a pullback before a bullish breakthrough, a close above $69,000 could signal further upward movement towards $73,777 or even $75,000.
Ethereum's Potential Move to $4,000: Ethereum (ETH) maintains its position above the ascending parallel channel and trendline, aiming for the $4,000 psychological level. However, this target depends on Bitcoin's ability to reclaim ground above $69,000.
XRP's Outlook at $0.5000: Ripple (XRP) might decline further towards the psychological level of $0.5000 if it closes below $0.5783. The RSI below 50, negative MACD, and bearish AO histogram indicate a bearish sentiment, suggesting potential exits by XRP holders to avoid losses.
Chainlink price gains could extend riding on bullish on-chain metrics
Chainlink’s on-chain metrics support a bullish thesis for LINK price. The Web3 services platform’s token is likely to extend its gains, riding the bullish wave of declining exchange supply and rising relevance among market participants.LINK price is $15.77 on Binance, at the time of writingChainlink on-chain metrics support recent LINK price gainsChainlink price increased 15.26% week on week, climbing to $16 early on January 17. LINK holders gained nearly 13% month on month in the altcoin’s upwa
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Ethereum price could make a recovery as ETH supply on exchanges hits an all-time low
Ethereum, the second largest cryptocurrency by market capitalization, noted a considerable decline in its supply on exchange platforms. ETH tokens on exchanges have hit a new all-time low since Ether’s genesis.Ether on exchanges hits lowest level recordedEthereum supply on exchanges now accounts for 8.04% of the asset’s total supply according to Santiment data. This is the lowest level recorded since Genesis. The altcoin’s supply on exchanges typically influences the asset’s price. A reduction i
💥 Litecoin hits over 1 million daily transactions for the first time in 2023 alongside LTC price rally
Litecoin price climbed 7% in December alongside an increase in volume, active addresses and daily transactions in the decentralized project. LTC hit a new milestone in 2023 with a record 1 million in daily transactions for the first time.
🤑 Litecoin daily transactions hit key milestone:
Litecoin, a decentralized asset used for borderless transactions. The altcoin hit a key milestone with 1 million daily transactions in 2023. The asset's price is up 8.61% in the past year, and offered LTC holders nearly 7% monthly gains.
Santiment data reveals that despite consistent profit-taking by LTC holders, Litecoin price increased from its September 11 low of $58.83 to December 8 local high of $76.28. Litecoin enjoys a relatively high correlation with Ethereum, at 0.78, therefore LTC price is likely to follow ETH in its steps. Large wallet investors are on the move in Litecoin as whale transactions coincide with spikes in Network Realized Profit/Loss metric, as seen in the Santiment chart below. This signals that Litecoin's uptrend is not influenced by profit-taking activities of LTC holders.
📈 Bitcoin analyst calls early bull market as BTC price targets $50,000 in December 🚀
El Salvador's Freedom Visa & citizenship program, requiring a $1 million deposit in Bitcoin or USDT, contributes to Bitcoin's positive momentum. The country's embrace of Bitcoin as legal tender has sparked global interest.
🌐 **Catalysts Fueling Bitcoin Surge: ETF Anticipation and Institutional Adoption**
Bitcoin's current sideways trading near $43,500 follows a 15.25% weekly gain. Analyst Alistar Milne predicts an early 2024 bull run, highlighting the significance of BTC's 50-week Moving Average crossing above the 200-week in a promising "golden cross" formation. 🐂
Daily Digest Market Movers: Bitcoin analyst predicts an early BTC bull run in the beginning of 2024:
• Bitcoin price is trading sideways close to the $43,500 level on Friday after BTC yielded 15.25% gains for holders this week.
• Bitcoin analyst Alistar Milne analyzed the weekly
• Bitcoin price chart and noted that the current BTC bear market was the “worst” time spent under the 200-week Moving Average price for Bitcoin.
• In accordance with Milne’s prediction, BTC’s 50-week Moving Average will soon cross back above the 200-week in a “golden cross” formation.
• Milne considers this a sign of an early bull market for Bitcoin.
• Catalysts driving Bitcoin’s recent gains include El Salvador’s announcement of the Freedom Visa and citizenship program, in partnership with Tether, and Robinhood exchange’s launch of Bitcoin and crypto trading in the European Union.
• El Salvador’s Freedom Visa requires a $1 million investment in Bitcoin or USDT and welcomes investors to a “Bitcoin Lifestyle”.
• Robinhood has ushered in commission-free crypto trading in the EU, driving cryptocurrency adoption and ushering demand from market participants in the region.
• These catalysts are likely to fuel Bitcoin price rally and support the bullish thesis for BTC.