Every four years, bitcoin halvings have proven to be significant occasions for the cryptocurrency markets, signaling the start of bull runs. Examining the past is the most reliable method for forecasting future occurrences. The next Bitcoin halving is expected in 2024. If history is any guide, it will be followed by a period of rising prices. As of now, mid-April 2024 is the most likely period for the next Bitcoin halving. So, which cryptocurrencies have the highest price growth potential in 2024?
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Cryptocurrencies had an excellent start to 2023, with several markets showing indications of revival. Bitcoin gained almost $0.39 on average in July, sending the price to roughly $31,000. Bitcoin’s price in November 2023 is $34,457, with a market worth of $673.1 billion and a volume of $17.06 billion.
For those looking to trade crypto, the best cryptocurrency to put your money into in 2024 is still Bitcoin. As the first and longest-running cryptocurrency, Bitcoin would also be the most valuable and widely held. Countries have begun officially recognizing Bitcoin as legal cash, and some institutions now include Bitcoin as an investment option. Additionally, Bitcoin is being accepted as payment by a growing number of establishments.
Solana is one of the most efficient smart contracts platforms available and has already seen a price surge of 80% in the past 30 days.
Its exceptional scalability allows it to accommodate use cases that aren’t practical on most other blockchain systems. The number and variety of DApps available on Solana is already higher than on rival platforms like Cardano. The fact that SOL is trading at about $40 while being down over 85% from its all-time high of $260 is another positive indicator of its potential in 2024. So, acquiring some SOL at this price could be an excellent decision.
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Dogecoin (DOGE) has shown tremendous reliability since its introduction back in 2013. Dogecoin saw some of the most significant growth during the previous bull run in the cryptocurrency market in 2021. Dogecoin’s meme appeal, accessibility on major trading platforms, and low price per unit make it a natural pick for many new investors.
If more people start investing in the cryptocurrency market, DOGE has a good chance of being one of the best-performing cryptocurrencies. When meme coins are on a bull run, there tends to be a marked increase in search volume on the internet. It’s a good idea to keep track of the most searched crypto to take advantage of the most significant gains.
BNB is a cryptocurrency launched in 2017 by Binance, one of the largest cryptocurrency exchanges in the world. Binance has millions of active users, and as its user base expands, the demand for BNB increases, which drives up the currency’s price. Users receive a discount on Binance when they use BNB to pay transaction costs. As a result of this incentive, BNB holders may see a rise in demand for the token and its price.
The BNB Chain platform is EVM (Ethereum Virtual Machine) compatible, which means that developers of smart contracts can employ the same tools they are already familiar with from the Ethereum ecosystem to build decentralized apps for BNB Chain.
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Ethereum’s position as the second-largest cryptocurrency by market cap is expected to last for some time. Ethereum’s price will likely increase significantly if the current crypto bull market continues to surge. It is the platform for initiatives seeking to use the more complex use cases made possible by blockchain technology, such as decentralized finance NFTs, decentralized autonomous organizations, and more.
In the past several years, there have been a lot of upgrades to the Ethereum protocol that have made ETH a much more appealing asset to retain over the long run, which makes it a fantastic crypto to buy right now.
Since Ethereum’s complete switch to a Proof-of-Stake consensus process, the issuance of ETH has decreased dramatically as compared to the previous Proof-of-Work system.
This coin has achieved meme fame primarily due to its vibrant community, who refer to themselves as the ShibArmy. However, its primary purpose is to promote the ideas of decentralization and crypto more broadly rather than serving a specific practical function.
For the Shiba Inu coin, which traditionally operates without a clear roadmap, simply exciting its community may be enough to encourage a surge in its value. SHIB “whales” — major holders — recently moved 4.5 trillion tokens. Coupled with the fact that SHIB is currently the second most searched crypto according to Yahoo Finance, the token is poised for a price increase in 2024.
Investing in the cryptocurrency market is considered one of the most exciting and potentially lucrative markets globally. Finding a high-value cryptocurrency to invest in can be challenging, but successful selections can lead to substantial returns quickly. While established cryptocurrencies are a solid choice for the best cryptocurrencies to trade, taking a chance on a new and promising digital currency could be similar to the early days of Bitcoin. This risk could lead to significant rewards. So be on the lookout for new projects because, for many crypto enthusiasts, the bull run has already begun.