In the ever-evolving landscape of digital currencies, the year 2024 promises a thrilling journey into the realm of unprecedented possibilities. Are you ready to ride the waves of innovation and seize the golden opportunities that lie ahead? Brace yourself as we unveil the “Top Cryptocurrency to Buy Now in 2024,” a comprehensive guide crafted for visionary investors and crypto enthusiasts alike.
As we stand on the brink of a new era, the cryptocurrency market is poised for a revolution, and the choices you make today can shape your financial destiny tomorrow. From cutting-edge technologies to groundbreaking projects, this article is your key to navigating the intricate world of crypto with confidence.
Join us as we dissect the market trends, analyze emerging players, and present you with the undisputed champions set to redefine the landscape. Whether you’re a seasoned investor or a curious newcomer, this article will equip you with the insights needed to make informed decisions in the fast-paced and dynamic realm of cryptocurrencies.
Strategic Investments: Unveiling the Top 5 Cryptocurrencies to Buy in 2024
Pikamoon ($PIkA): A Deflationary Play-to-Earn Coin with Promising Use Case
Bonk Coin (BONK): Dog-Themed Meme Coin and Social Media Darling
Near Protocol (NEAR): A user-Friendly and Carbon-Neutral Blockchain
Injective (INJ): A decentralized exchange (DEX) protocol constructed on Cosmos
Celestia (TIA): The World’s First Data availability Blockchain Network
Unravelling the Influence of Market Sentiment and External Factors on Top Cryptocurrency Selection
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Bitcoin Trend Strength Exhibits Striking Similarities With Last Bull Run
Bitcoin price is above $45,000 for the first time since April 2022 and according to the weekly Average Directional Index, the rally might not be stopping anytime soon. That’s because the trend strength measuring tool is beginning to show shocking similarities with the 2021 bull run.When Bitcoin is trending, it is wise to get out of the way. The same is true regardless of whether or not BTCUSD is in an uptrend or a downtrend. Currently, the top cryptocurrency by market cap is in an uptrend, according to the Average Directional Index.The tool is designed to measure the strength of a trend on any timeframe. When the ADX is growing and rises above 20, it suggests there is an active trend in play. Below 20, and there isn’t enough evidence of a trend, which could suggest sideways price action.Not only is the weekly ADX in Bitcoin above 20, but is is above 51. Reaching above 51 in late 2020, resulted in four-week-long 120% push higher. If the same magnitude move follows, BTCUSD could hit $94,000 per coin by mid-February.The Average Directional Index is a trend-strength measuring tool designed by J. Welles Wilder, Jr., the creator of other technical analysis tools such asThe ADX reading in dark blue above shows the strength of a trend. The ADX, however, comes equipped with two Directional Indicators, the DI+ and DI-. Not only is the ADX in the exact location of the late 2020, early 2021 bull run, but the DI+ in green and DI- in red are also at the same level.This could hint at the same ripe conditions for a parabolic rally. In 2021, Bitcoin peaked when the ADX reached 85 and began to tumble back downward. If BTCUSD exceeds this level, we could be looking at an even stronger rally than expected.If it fails to reach above 85, yet sets a new all-time high, a bearish divergence could warn of an impending top in crypto. Whatever the case may be, the ADX could be an important tool in understanding cryptocurrency trends. Tony "The Bull" Severino is a level 3 CMT student (passed level 1 & 2), technical analyst, and the Head of Research at NewsBTC. Tony is also the Founder of CoinChartist – a technical analysis educational resource designed for crypto traders. Tony is a partner of Elliott Wave International, TradingView, and a member of the CMT Association. NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.