Key Insights
Bitcoin remains the market leader with 60% dominance and a possible test of the $100,000-$124,000 range.
$ETH broke above $3,000 and is expecting the full effect of the spot ETF approvals on its price.
$SOL Sol has gained 130% in 2024 and could be eyeing a rally toward $300 or higher.
$SUI is a top performer in 2024 and is well positioned for anywhere between $5 and $10.
Dogecoin has risen 350% this year alone, and if it breaks above $0.4, it could target $1.
It's that time of the year again.
The end of 2024 is less than two months away, and investors are locking in on investments before the new year.
The crypto market has been massively bullish for most of 2024, with Bitcoin, in particular, gaining nearly 70% in price over the first quarter of the year, according to Coinglass.
Despite a weak Q2 and Q3, the cryptocurrency is currently going strong, with a powerful 45% price gain in Q4.
So, what are some of the best cryptocurrencies to lock in on as 2024 draws to a close?
Best performing cryptos, according to CMC
Source: CoinMarketCap
Here are some of them, selected in terms of technicals, fundamentals, and analyst predictions.
Bitcoin is a no-brainer when it comes to picking cryptocurrencies before the end of the year.
To begin with, Bitcoin currently dominates the market at around 60%, according to CoinMarketCap.
This means that the performance of most other cryptocurrencies depends, in one way or another, on Bitcoin.
Strong dominance on Bitcoin
Source: CoinMarketCap
Alongside Bitcoin's clear influence over most of the market, there are serious ongoing conversations about its ability to hit a high of $100,000 before the end of the year.
This alone means that, based on current price levels, the cryptocurrency is poised for a $10,000 price increase before the end of the year.
Prediction market from Kalshi
Source: Kalshi
Data from Kalshi, a prediction market similar to PolyMarket, shows that bettors generally believe a $100,00 Bitcoin price will happen before December 2024 and January 2025 at the latest.
ARK Invest analyst David Puell also highlighted historical data in a recent report, in which he mentioned that the cryptocurrency would likely end the year "between ~$104,000 and ~$124,000".
Ethereum is Bitcoin’s biggest competitor and is bound to benefit directly from Bitcoin’s success.
The cryptocurrency recently broke above the $3,000 mark and is enjoying an impressive 15% price increase over the last month.
Ethereum’s price action
Source: CoinMarketCap
Through Ethereum's comparatively slow performance over most of 2024, it remains the biggest smart contract platform by a wide margin in terms of TVL.
Moreover, earlier this year, the first spot Ethereum ETFs in the U.S. were approved.
They began trading on 23 July, and although the effects of these exchange-traded products on the cryptocurrency's price have yet to hit full gear, analysts believe that the bullish storm is near indeed.
Bring back $5,000
Source: Twitter
The Ethereum ETF market is also showing signs of a powerful resurgence, considering the massive attention they garnered after the U.S. Federal Reserve lowered interest rates by 50 basis points in late September 2024.
Solana is by far one of the best-performing assets among the top 50.
TradingView data shows that the cryptocurrency is up by around 130% over most of the year.
Solana’s performance
Source: Twitter
This is without mentioning the cryptocurrency's proximity to its previous all-time high of around $260.
Analysts generally believe that the cryptocurrency will hit and possibly break the $250 zone in the near term.
Solana’s prediction
Source: Twitter
When this happens, a break above its previous all-time high will become apparent, opening the door for a Solana rally towards $300 or higher.
Sui
Sui was created by former Meta engineers to enable fast transactions and stable fees.
It is also built to handle a large number of transactions at once and is arguably Solana's biggest competitor in terms of performance and everything else.
Investors see the sheer potential of this cryptocurrency and have shown massive interest in it throughout 2024.
Sui led the price gains of Q3 in 2024 with a 116% YTD increase despite the general market downturn.
Top gainers for Q3
Source: Twitter
Sui has been hyped several times by some of the top analysts on Twitter, with some of the biggest predictions sitting between $5 and $10 before the end of the year or by mid-2025.
Sui to end the year strong.
Source: Twitter
Dogecoin
Any investor who has spent long enough in the crypto market knows how crazy Dogecoin rallies can be.
Already, the memecoin is up by nearly 350% in the last month.
Dogecoin’s price performance
Source: CoinMarketCap
Already, Dogecoin is the 11th best-performing asset among the top 100, according to data from CoinMarketCap.
Massive speculation is ongoing about the cryptocurrency's ability to hit the $1 mark soon, considering its previous all-time high of around $0.73.
Possible hourly close above $0.4
Source: Twitter
Analysts like Ali now believe that if Dogecoin breaks above the $0.4 mark anytime soon, the resulting price explosion could take It straight up to $0.85.
