đ°Buying the 3 Best Cryptocurrencies in January 2024
âBitcoin: A spot Bitcoin ETF should be approved by January 10.
âEthereum: Some well-known experts think Ethereum will do better than Bitcoin in 2024.
âBonk: Since September of last year, this joke coin has increased by more than 1,000%.
đBTC
On Jan. 10, the SEC will decide whether to approve ARK Invest and 21Shares' spot Bitcoin ETF applications. The approval of those ETFs could lead to more spot Bitcoin ETFs from Fidelity and BlackRock (NYSE: BLK). Traders and investors have been bidding up BTC since October last year, expecting spot Bitcoin ETF approval this month.
Market observers have warned that the SEC may reject all spot Bitcoin ETF applications and cause a âsell the newsâ scenario, but they appear to be in the minority.
đEthereum
Bitcoin isn't the only cryptocurrency rising. At $2,250, Ethereum, the second-largest cryptocurrency, has gained almost 90% in 2023. As said, JPMorgan analysts expect ETH to shine next year. JPMorgan and others expect Ethereum to profit from the âEIP-4844â update in the year's first half.
Ethereum, the second-largest cryptocurrency by market capitalization, will process and store more data with the upgrade. ETH facilitates decentralized finance (DeFi) transactions and smart contracts better than Bitcoin, according to many observers. Some analysts expect Ethereum to quadruple to $5,000 in 2024. Some bulls expect $10,000.
đBONK
Risk-takers should consider the cryptocurrency Bonk (BONK-USD). Bonk, a Solana (SOL-USD)-based dog meme coin, has grown 300% since mid-November and over 1,000% since September. A fraction of a cent is its current price. Bonk has outperformed BTC and ETH over the past year despite missing functionality. Some meme coins have also climbed dramatically in recent months.
