Bitcoin Halving Post Will Boost These Top Altcoins – 2-5x Gains Expected! appeared first on Coinpedia Fintech News
The cryptocurrency industry has shown bearish price action since the month began, indicating increased volatility in the cryptocurrency market. After a successful 2023, the industry started the year 2024 positively, highlighting a high possibility of a bull market over the coming months.
With the Bitcoin Halving event just around the corner, major altcoins already have significant valuations in their respective portfolios and continue to hover near their upper levels, suggesting that the industry is poised to record a new high.
Etereum (ETH):
ETH price has shown significant price action since the year 2024 began, highlighting strong bullish sentiment towards the altcoin leader in the cryptocurrency industry. Furthermore, the Ethereum token is currently trading at a discount of approximately 29% to its previous ATH.
Trade view: ETH/USDT
Positively, this altcoin has added approximately 4% in the last seven days and its year-to-date is 53.06%, indicating bullish price action for this token after the halving.
Even though the technical indicator, MACD, shows negative sentiment in the 1W period, the altcoin hints at a strong bullish reversal that could result in it reaching a new ATH this year, a roughly 50% jump in valuation.
Represent (RNDR):
The price of the Render token has successfully reached a new all-time high this year, indicating a massive rise in the adoption of AI-based cryptocurrencies in the market. Additionally, this category has seen significant growth over the past year, highlighting a positive outlook for these altcoins going forward.
Trade view: RNDR/USDT
The Moving Average Convergence Divergence (MACD) shows a steady decline on the histogram, highlighting increased selling pressure in the crypto industry. Furthermore, the averages show a high possibility of negative price action over the next few weeks.
Dogecoin (DOGE):
After showing a neutral trend for about a year, memecoin leader DOGE price started the year 2024 by successfully breaking through the $0.1081 resistance level. Following this, the bulls recorded a notable streak by adding over 100% to their portfolio in the coming weeks.
Trade view: DOGE/USDT
As market volatility grew, the bulls faced rejection at the $0.22 resistance level, after which the price lost momentum and started trading under bearish influence. The Memecoin category repeats history by showing a bearish trend during the halving event.
This hints at a high potential for strong bullish price action for memecoins over the next while, making it one of the best picks for this list as it is projected to grow between 2x and 5x by the end of the year.
Bitcoin Cash (BCH):
As enthusiasm for BitcoinETF increased, the BCH price saw a huge uptrend in its valuation, causing the Bitcoin Cash token to record a 26-month high in your portfolio. However, the price has shown a strong bearish reversal in the last seven days, suggesting negative price action for the token in the future.
Trade view: BCH/USDT
Positively, the BCH token is highly influenced by the price movements of the crypto industry leader, Bitcoin. The market is projected to gain significant traction in the coming time, which may result in this altcoin attempting to test its ATH of $4,355 over the next year.
This makes this token a potential 6x trade for its investors during this investment period. Furthermore, the MACD technical indicator is recording a consistent uptrend and the 50/200 day cross EMA shows a high possibility of a Golden Cross in the future.
Bittensor (TAO):
TAO price has attracted significant market attention in recent months, as the price has risen approximately 2000% during this time. Furthermore, the Bittensor project has a maximum supply of only 21 million tokens, making it a fundamentally strong project in the crypto industry.
Trading view: TAO/USDT
At the time of writing, the price of one TAO token was $623.8 and a market capitalization of $4.15 billion. Furthermore, this altcoin has an ATH of $767.68 and is currently trading at a discount of just 16.91% from its high, highlighting a strong bullish sentiment towards it in the market.
The MACD shows a steady rise in the green histogram, indicating strong altcoin buying pressure in the market. Furthermore, the averages show a bullish curve, suggesting that the price will continue to gain value in the coming time.
