The Bitcoin halving is one of the most anticipated events of the year. User momentum in the industry is building as Bitcoin hits the ambitious milestone of $70,000.
The Bitcoin halving event is crucial in many ways. In the long run, it will boost Bitcoin’s price while maintaining its scarcity. However, the Bitcoin halving event is also associated with changes in the natural crypto market, with an increase in the influx of funds into other altcoins.
With that in mind, here is a list of our three most popular altcoins that could potentially double in price after the Bitcoin halving.
Three cryptocurrencies that could increase 10x after Bitcoin halving
Cryptocurrency #1: Ethereum
Historically, Bitcoin halving events bring considerable attention to other altcoins. While Bitcoin may notice slight price fluctuations and may surge or drop after the halving, Ethereum, on the other hand, may gain prominence at a particular time.
Ethereum could see a significant price increase due to the increased user activity and interest at that time. According to CoinCodex, Ethereum is expected to rise by 2% by the end of April 2024.
“According to our current Ethereum price prediction, the price of Ethereum is expected to rise by 2.12% to $3,619.40 by May 1, 2024. According to our technical indicators, the current sentiment is bullish, while the Fear & Greed Index shows a reading of 79 (Extreme Greed). Over the past 30 days, Ethereum has recorded 17/30 (57%) green days with a price volatility of 5.86%.”
The overall yearly forecast for Ethereum is quite positive, giving Ethereum the much-needed boost that the coin deserves.
After the ambitious Bitcoin halving, market sentiment is likely to look across the space for promising cryptocurrencies to invest in. This is where Litecoin comes into play, with its already strong design structure and solid future path and trajectory.
According to CoinCodex, Litecoin is expected to rise by 5% by the end of April 2024.
“According to our current Litecoin price prediction, the price of Litecoin is expected to rise by 5.16% to $115.99 by May 1, 2024. According to our technical indicators, the current sentiment is bullish, while the Fear & Greed Index shows 79 (Extreme Greed). In the past 30 days, Litecoin has had 18/30 (60%) green days and a price volatility of 6.59%.
Likewise, the platform predicts Litecoin to rise by nearly 125% by the end of 2024.
“Litecoin is expected to trade between $107.51 and $235.71. If the upper target price is reached, LTC could rise by 125.21% to $235.71.”
Cryptocurrency #3: Cardano
Cardano is one of the leading cryptocurrencies that has noticed a frenzy and interest from users recently. The coin has been climbing steadily while developing strong projects that may help the blockchain thrive in the long run.
With the Bitcoin halving happening, sporadic user interest, coupled with the search for a long-term viable coin, will see investors eventually turn their attention to Cardano.
Cardano is promising in many ways. Its versatile blockchain uses, TVL, and DeFi metrics have shown significant upside in this bull season, making it a solid coin to invest in and maximize returns.
According to CoinCodex, Cardano is expected to achieve 4% growth by April 2024.
“According to our current Cardano price prediction, the price of Cardano is expected to increase by 4.36% to
$0.676208 was reached on May 1, 2024. The current sentiment is neutral according to our technical indicators, while the Fear & Greed Index shows 79 (Extreme Greed). Cardano has recorded 16/30 (53%) green days, and the price volatility over the past 30 days is 7.25%. ”
Likewise, the platform further predicts that ADA will cross the $2 mark by the end of 2024.
“Cardano is expected to trade between $0.593887 and $2.60. If the upper price target is achieved, ADA could surge by 311.98% to $2.60.”
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