The cryptocurrency market is growing more and more, it is expected that soon VIETNAM market will officially recognize cryptocurrency.
So when should you consider buying "cryptocurrency" to optimize your idle investment?
Below is a detailed analysis of five potential cryptocurrencies to invest in in 2024, along with why they could be good choices among thousands of other cryptocurrencies:
Located in the number 1 position in the indispensable investment portfolio BITCOIN
Reason to buy:
Market leadership: Bitcoin remains the leading cryptocurrency with the largest market capitalization. It is often considered the "digital gold" of the cryptocurrency world.
Wide acceptance: Bitcoin is widely accepted by institutional and retail investors. Many large companies have started accepting Bitcoin as a payment method.
Inflation Resistance: With a limited supply (only 21 million Bitcoins), it is considered an asset that protects against inflation.
Market Movement:
Bitcoin ETFs: The launch of Bitcoin ETFs has driven institutional adoption and increased investment in Bitcoin
Halving: The halving event scheduled for April 2024 will reduce block rewards, leading to supply scarcity, which typically drives prices up.
Price prediction this year:
Bitcoin could continue to trade at high levels, ranging between $80,000 and $100,000 due to widespread adoption and upcoming supply scarcity.
Reason to buy:
Smart Contract Platform: Ethereum is the leading platform for smart contracts and dApps (decentralized applications).
Ethereum 2.0 Update: The transition to Ethereum 2.0, with its Proof of Stake consensus mechanism, promises increased security and reduced transaction costs.
DeFi and NFT growth: Ethereum is the primary platform for decentralized finance (DeFi) projects and non-fungible tokens (NFTs).
Market Movement:
EIP-4884: This upgrade will help reduce transaction costs and accelerate the development of Layer 2 applications
NFTs and DeFi: Ethereum continues to be the main platform for NFT and DeFi projects, with an increase in total value locked (TVL).
Price prediction this year:
Ethereum could surge to $5,000 to $8,000, thanks to growth in Layer 2 applications and growing adoption of NFTs and DeFi.
Reason to buy:
Support from Binance: BNB is supported by the world's largest cryptocurrency exchange, Binance.
Extensive utility: BNB is used to pay trading fees on Binance, helping to reduce transaction costs.
Coin Burn Program: Binance periodically burns BNB to reduce supply, which could help increase the coin's value in the long term.
In addition, BNB Holders also have the opportunity to receive EARN FREE Tokens when Binance Launchpool, Simple Earn and recently Megadrop
Current market movements:
Binance Coin (BNB) continues to be one of the leading cryptocurrencies with many widespread applications in the Binance ecosystem. The stability and development of the Binance platform has helped BNB maintain its strong appeal. However, BNB has recently come under some downward price pressure due to general market fluctuations and regulatory issues related to Binance in several countries.
Price prediction this year:
BNB price may fluctuate around 700-850 USD. BNB's recovery or growth will depend heavily on positive news from Binance as well as the overall trend of the cryptocurrency market (CoinMarketCap) (CoinMarketCap)
4. Solana (SUN)
Reason to buy:
High transaction speed: Solana is famous for its fast transaction speed and low transaction fees, ideal for applications that require fast processing capabilities.
Growing ecosystem: Solana is attracting many DeFi and NFT projects, increasing the value and appeal of the SOL coin.
Advanced technology: Updates like ZK Compression and Firedancer validator can help enhance Solana performance and scalability.
Market Movement:
TVL Growth: Solana is becoming one of the leading blockchains with strong growth in total value locked (TVL) and transaction volume (CoinMarketCap).
Applications and NFTs: Solana is also attracting many NFT projects and decentralized applications (dApps).
Price prediction this year:
Solana could reach $310 to $450 due to continued growth in projects and community adoption.
5. Cardano (ADA)
Reason to buy:
Scientific approach: Cardano uses a scientific approach to blockchain development, ensuring each stage of development is solid and sustainable.
Alonzo Upgrade: The successful deployment of smart contracts through the Alonzo upgrade has opened up many opportunities for dApps.
Focus on interoperability: Cardano emphasizes interoperability and sustainability, suitable for future applications.
Current market movements:
Cardano continues to develop features and improvements on its platform with the launch of many DeFi applications and smart contracts. However, the growth rate is somewhat slower than its competitors, which may make investors more cautious.
Price prediction this year:
ADA prices can range from 0.8 - 1.4 USD. ADA's growth will depend on new announcements from the development team as well as community acceptance of new improvements (CoinMarketCap).
Conclude
The cryptocurrency market is experiencing many positive fluctuations thanks to important events such as Bitcoin Halving, the launch of Bitcoin ETFs, and major upgrades on leading blockchains.
Cryptocurrencies such as Binance Coin (BNB), Solana (SOL) and Cardano (ADA) all have growth potential but also face many challenges. Investment in these coins should be carefully considered based on market factors and relevant news. Over the next month, it is expected that the prices of these currencies may fluctuate within the mentioned ranges, but the actual change will depend on many unforeseen factors.
Continuously updating information from reliable sources and closely monitoring market fluctuations will help investors make better decisions.
Disclaimer: Readers are advised to have knowledge about the Crypto market before investing. The information in the article should not be considered financial advice, we are not responsible for any of your investment decisions.
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