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The next crypto bull run in 2024 is imminent. It's going to be a game-changer for those who get it right. Some industry insiders are already predicting the Bitcoin price will skyrocket past $0.2 to 0.5 million, whilst many other altcoins and GameFi tokens are going to surpass $1 billion market caps once again. To make the most of this opportunity, you need to identify projects with high growth potential and invest in them early.
To do this work for you, this article will reveal seven altcoins that show promising signs and are poised for future success. By investing in these altcoins, you can ride the wave of the next bull run and achieve significant financial gains.
Quick Roundup: Top 3 Altcoins On Our List
In a historic development, the U.S. Securities and Exchange Commission (SEC) approved 11 spot bitcoin exchange-traded funds (ETFs) on January 10, 2024, putting an end to prolonged regulatory uncertainties and ushering in a new era for mainstream investors to engage with the primary cryptocurrency.
Spot bitcoin ETFs function as funds that mirror bitcoin prices and are traded on stock exchanges, allowing investors to buy and sell them seamlessly, eliminating the complexities associated with directly owning and storing bitcoins.
Previously, the SEC had consistently rejected applications from industry players like Grayscale Investments, a prominent digital asset manager. However, in August 2023, a federal appeals court overturned the SEC's decision, directing the regulator to reassess Grayscale's application and highlighting the SEC's failure to justify the initial rejection.
Rather than challenging the court's decision, the SEC, in January 2024, disclosed its approval of Grayscale's application, along with ten others from major firms such as Bitwise, BlackRock iShares, WisdomTree, ARK 21Shares, and Invesco Galaxy.
The trading of all 11 ETFs commenced on January 11, 2024, marking a milestone for the crypto industry. Although spot bitcoin ETFs don't directly impact bitcoin prices, they may influence them indirectly in several ways:
Bitcoin, the leading cryptocurrency by market capitalisation, undergoes a halving event every four years. This means that the reward for mining new blocks is reduced by half, making Bitcoin more scarce and valuable.
The next halving event is expected to happen in April 2024, when the reward will drop from 6.25 BTC to 3.125 BTC per block. This will also lower Bitcoin's annual inflation rate from 1.74% to around 1.1%, making it one of the most deflationary assets in the world.
Historically, halving events have been followed by bull runs (i.e. periods of sustained price increases and market optimism). This is because halving events create a supply shock, reducing the amount of new Bitcoins entering the market while the demand remains high or increases.
Ethereum, the second-largest cryptocurrency by market capitalisation, is slowly undergoing a major upgrade called Ethereum 2.0. This upgrade consists of several phases, each introducing new features and improvements to the network.
The final phase, called the Dencun upgrade, is expected to launch in late 2024 or early 2025, and it will be a game-changer for the crypto ecosystem.
The Dencun upgrade will implement several technologies to enhance Ethereum's scalability, security, and efficiency. These include sharding, rollups, and cross-shard communication. Sharding is a technique that splits the network into multiple parallel chains, each processing a subset of transactions.
Rollups are solutions that bundle many transactions into a single one, reducing the load on the main chain. Cross-shard communication is a mechanism that allows different shards to interact with each other, enabling interoperability and composability.
These technologies will enable Ethereum to process thousands of transactions per second, in comparison with the current limit of around 15 transactions per second. This will foster innovation and adoption of Ethereum-based applications and services, such as decentralised finance (DeFi), non-fungible tokens (NFTs), gaming, and social media.
The Dencun upgrade will also make Ethereum more environmentally friendly, as it will transition from a proof-of-work to a proof-of-stake consensus mechanism, which is more energy-efficient and secure.
Considering all this, the Dencun upgrade will bring transformative changes to the Ethereum network and the entire crypto ecosystem, leading to the next crypto bull run. It will also increase the competitiveness and attractiveness of Ethereum as a platform for innovation and value creation.
Web3, interoperability, and DeFi are interconnected concepts driving crypto innovation and growth. Web3 is a vision of a more democratic, decentralised, and user-centric internet, where users have more control over their data, identity, and digital assets.
Interoperability is the ability of different blockchain networks and protocols to communicate and exchange value with each other, creating a more diverse, inclusive, and collaborative crypto ecosystem.
DeFi is a term that encompasses various open and permissionless financial services and products that run on blockchain, such as lending, borrowing, trading, investing, and insurance.
These concepts create a positive feedback loop, driving growth and innovation in the crypto space:
Web3 fosters the development of new sectors and use cases, such as the metaverse, GameFi, fan tokens, and NFTs, which attract more users and creators to the crypto world.
Interoperability amplifies the network effects of these sectors and use cases, allowing users to access various services and opportunities across different platforms and networks and encouraging innovation and collaboration among developers and projects.
DeFi offers users more autonomy and control over their finances while fostering their involvement and participation in the crypto economy.
Regulatory events and institutional involvement are two factors that impact the legal and operational landscape of the crypto space. They can positively or negatively affect the market confidence, adoption, and innovation of crypto.
Government actions and institutional participation can boost market confidence, providing clarity and guidance on the rights, obligations, and best practices of the crypto industry. They can also reduce the uncertainty and risk associated with crypto, enhancing its legitimacy and acceptance among the public and the authorities.
On the other hand, they can also hinder market confidence, imposing restrictions, bans, or penalties on the crypto industry. They can also create barriers and challenges for crypto innovation and adoption, limiting its potential and growth.
Regulatory events and institutional involvement vary across regions and jurisdictions, creating a diverse and complex crypto landscape. For instance, the European Union is working on a comprehensive regulatory framework for crypto assets, called the Markets in Crypto-Assets Regulation (MiCA), which aims to provide legal certainty, consumer protection, and market integrity for the crypto industry in the EU.
Likewise, El Salvador has become the first country in the world to adopt Bitcoin as a legal tender, allowing its citizens and businesses to use Bitcoin for payments, remittances, and savings. The government has also launched a state-backed Bitcoin wallet called the "Chivo wallet" and installed hundreds of Bitcoin ATMs nationwide.
In the USA, MicroStrategy, Tesla, Square, and other major corporations have invested in Bitcoin and added it to their balance sheets, signalling their confidence and support for the crypto asset. PayPal, Visa, Mastercard, and other payment giants have also integrated crypto services into their platforms, allowing customers and merchants to buy, sell, hold, and spend crypto.
Now that we've covered the reasons for the next crypto bull run, let's look at the top seven altcoins to buy throughout such period.
As Web3 gaming explodes in popularity and demand in the next crypto bull run, PIKA is set to soar. While games like Axie Infinity and The Sandbox have already reached billions of dollars in market cap, PIKA will just be $10 million on launch. This means PIKA gains are guaranteed to offer some of the highest profit margins in the altcoin market.
PIKA is the ERC-20 token that fuels the entirety of this highly anticipated Web3 gaming project, Pikamoon. As of today, the Pikamoon Beta is available for download on Android and iOS platforms, wherein a Play-to-Earn (P2E) $10,000 prize pool is on offer for the top 100 players.
Pikamoon redefines the gaming experience by offering players entrance into the stunning and engaging virtual world of Dreva. Here, they can trade, earn, and spend PIKA tokens and collect and use exclusive NFTs with excellent play-to-earn benefits. The game offers versatile gameplay modes, including online multiplayer, offline single-player, pink slips, campaign mode, free-roaming, etc.
PIKA is currently in its limited Presale stage, with only 15% of its 50 billion total supply available for purchase (and less than 23% remaining as of now). This is a rare investment opportunity to buy PIKA at its lowest price, and potentially earn 100x returns in the next bull run. Here, developers have already promised a 16% pump once the altcoin hits major crypto exchanges.
Ethereum (ETH) is the 2nd-largest cryptocurrency by market capitalisation and a key player in smart contracts and Web 3.0. It stands out for its ability to support a wide range of decentralised computing processes, essential for the growth and adoption of Web 3.0 and the crypto ecosystem.
Unlike Bitcoin, which mainly focuses on peer-to-peer payments, Ethereum offers the Ethereum Virtual Machine (EVM), a platform that enables various decentralised applications and services.
Ethereum has had a different trajectory from Bitcoin despite their high correlation. It initially outperformed Bitcoin but fell behind as the market shifted its attention to cryptocurrencies as a hedge against inflation. However, Ethereum's vital role in powering decentralised applications makes it a strong contender for long-term success in the crypto space.
In a report published in December 2023, JPMorgan analysts expressed their belief that Ethereum will outperform Bitcoin, reclaim its position, and regain market share in the cryptocurrency ecosystem next year.
As more users and developers join the network, Ethereum's prospects for further expansion and influence remain bright.
Cardano is a leading blockchain platform that leverages peer-reviewed scientific research and high-assurance development to deliver cutting-edge solutions. Its innovative two-layer architecture separates the settlement and computation layers, enabling more flexible and efficient transactions and smart contract executions.
ADA, the native token of Cardano, has been one of the top-performing cryptocurrencies in the market. It has soared by 165.13% in 2023 and 677.65% since its inception. Tyler Strejilevich, a renowned analyst known for his insightful market analysis, has boldly projected the future price trajectory of ADA. Crypto enthusiasts are eagerly anticipating his predictions, which hints at a staggering potential increase of 6,000% in the value of ADA.
Furthermore, the platform has attracted the most developer activity in the last month, demonstrating a robust and dynamic ecosystem. Its flourishing NFT sector has also seen a spike in sales volume, indicating a rising demand for Cardano's capabilities to support digital assets.
Dogecoin, fondly known as "DOGE," started as a humorous meme cryptocurrency. However, it quickly became a notable digital asset with a loyal community. Initially created in 2013 as a parody of Bitcoin (BTC), Dogecoin features the Shiba Inu dog from the "Doge" meme as its logo.
Despite its comical origins, DOGE has exhibited remarkable growth. In 2023, Dogecoin witnessed a rise of 34.71%, reflecting a consistent interest and investment in the coin. Over its lifetime, Dogecoin has achieved an astounding all-time appreciation of 627.40%, and over the past five years, it has skyrocketed by 4,916.03%.
Elon Musk, the CEO of Tesla and SpaceX, is the most prominent advocate for DOGE, even going so far as to assert that the meme coin is "better than Bitcoin".
The token's unique charm lies in its lively community and extensive usage in tipping and charitable donations online. The coin's underlying technology is based on Litecoin (LTC), featuring a Scrypt algorithm. This allows for faster and more energy-efficient mining. Lastly, Dogecoin's low transaction fees of under a cent and quick confirmation times make it a convenient option for micro-transactions and casual online usage.
XRP is a fast and efficient solution for cross-border transactions, offering a cheaper alternative to traditional methods. It also excels at facilitating micro-payments, thanks to its ultra-fast transaction speed. XRP has recently regained investor confidence after winning a legal battle against the U.S. Securities and Exchange Commission, which had accused it of being an unregistered security. This legal victory has sparked a new wave of optimism around the Ripple coin.
Key figures such as @0xsushi on X (previously Twitter) have expressed strong optimism about the future of XRP, envisioning it as the standard for all digital assets over the next decade.
Ripple Labs, the company behind XRP, announced its intention to integrate automated market makers into the XRP Ledger with the aim of improving liquidity and trading performance.This move has generated mixed reactions within the XRP community, as some worry about potential stability issues while others anticipate better liquidity.
In the long run however, these developments are expected to strengthen XRP's position as a major player in the global cryptocurrency scene, adding to its comeback story.
Polkadot (DOT) is a next-generation blockchain protocol. It enables an internet environment where autonomous blockchains can transfer information and transactions without trust. This mechanism is powered by Polkadot's unique consensus algorithm. Furthermore, this interoperability aims to create a fully decentralised and private web managed by its users and simplify the innovation process for new applications and services.
Lately, the protocol has witnessed significant growth in user activity. The Block data dashboard reported a surge in the daily count of new addresses, peaking at 7,120 on Christmas day. This has been the highest single-day count since the beginning of the year.
Furthermore, DOT has experienced a considerable increase in value this past year, with a one-year rise of 100.50%, making it one of the top altcoins to buy in a bull run.
Uniswap (UNI) is the world's largest decentralised exchange, and its total-value-locked figure is projected to increase over time, indicating a bullish outlook. It allows users to exchange cryptocurrencies directly without relying on traditional financial intermediaries, which gives it an edge in the growing market for decentralised solutions.
UNI recently upgraded to Version 4, demonstrating its commitment to improving user experience. A notable feature of this upgrade is "Hooks", a game-changing addition to automated market maker exchanges. This feature gives developers more flexibility to interact with asset pools in new and creative ways. Such innovations enhance the platform's attractiveness and functionality.
Uniswap Labs stays true to its decentralised roots by prioritising community involvement. This strategy ensures the platform evolves in line with its community's needs and preferences, cementing the crypto's position as a responsive and user-centric entity in the decentralised finance sector.
Below are some practical strategies to navigate the crypto market during this period.
Starting in the crypto world without understanding the basics can be confusing. Many investors rush into complex trades and emerging coins without a solid grasp of the fundamentals. This is like building a house without a proper foundation.
First, it's important to understand what cryptocurrency is and how it works. There are thousands of cryptocurrencies, each with unique features. Blockchain is the revolutionary technology behind cryptocurrencies, and it's essential to learn about it. Understanding blockchain will help you understand why certain cryptocurrencies hold value.
Next, familiarise yourself with the principles of crypto trading. Learn how the market works, how trading pairs function, and the risks involved. Knowledge is crucial in the crypto world and can lead to profits.
Take things one step at a time, and don't feel overwhelmed. Many resources are available online such as ebooks, online courses, and forums. Dedicate time each day to learn, and don't hesitate to ask questions. The crypto community is expansive and welcoming to newcomers.
The cryptocurrency landscape changes quickly, with new developments happening often. However, filtering out unnecessary noise and focusing on relevant news is necessary.
Start by identifying trustworthy news sources. There are many cryptocurrency news websites, but not all are reliable. Look for platforms that offer well-researched and unbiased information. Avoid sites that rely on sensationalism and fear-mongering.
Once you have found reliable sources, make it a habit to check them regularly. But don't just passively consume news. Analyse it. Consider how each piece of news impacts the larger market and your investments. Is it a short-term event or a long-term trend?
Also, be cautious of following the crowd in the cryptocurrency world. Negative news can lead to panic selling, while hype can tempt you to buy without thorough research. Stay calm and rational. Remember that successful investors keep their emotions in check.
Sharing your crypto journey is a two-way learning experience. When I started sharing my investment strategies and experiences, I learned more about refining my thoughts and techniques.
Share successes and failures by documenting your journey through a blog, social media, or personal journal. Transparency and honesty are respected within the crypto community. Engage with others through forums, meetups, and online discussions to gain valuable insights.
Explaining concepts to others helps solidify your understanding. Continuously share and learn to stay sharp and informed in the ever-evolving crypto world.
Diversifying your crypto portfolio is a smart investment strategy. It helps minimise risk and maximise potential gains in the volatile crypto world.
Spread your investments across different cryptocurrencies and types of crypto assets. Consider well-established coins like Bitcoin or Ethereum for stability and mid-cap coins for growth potential.
For unique opportunities, you can also explore upcoming GameFi projects like PIKA, NFTs and DeFi projects. Remember to find a balance that aligns with your risk tolerance and investment goals.
People often focus on making quick gains in crypto, but the most successful investors think long-term.
They understand that real wealth is built over time, not overnight. When planning for the long term, focusing on cryptocurrencies with solid fundamentals is important. Look for projects with strong teams, clear use cases, and robust technology.
These investments are more likely to withstand market fluctuations and deliver sustainable growth. Volatility is also something to be prepared for in the crypto market. It can be a rollercoaster, but don't let short-term fluctuations derail your long-term plans. Stay focused on your investment goals, and don't be influenced by temporary market sentiments.
Lastly, the crypto market constantly changes, so keep learning and adapting. Stay informed, stay flexible, and be ready to adjust your strategies as the market evolves.
The crypto market is constantly evolving and presenting new opportunities for investors willing to take calculated risks.
Among the many altcoins that could soar in the next bull market, PIKA stands out as the best token to reap big profits from, as the token is still in its initial ICO stage and has a 30x smaller launch market cap than its rivals (meaning it has a lot of room for growth in months to come).
But remember, these altcoins are not the only ones that could perform well in the next bull market. There are many other promising altcoins that can perform well. Before you invest in any of them, though, make sure you do your market research. Good luck!
No one knows when the next bull run will start. It depends on factors such as supply and demand, market sentiment, innovation, regulation, and global events. However, some analysts and experts have predicted that the next crypto bull run could start in 2024, based on historical trends, the Bitcoin halving event, and the stock-to-flow model.
The duration of a crypto bull run is also uncertain, as it can be influenced by external shocks, market cycles, and investor behaviour. However, based on past data, crypto bull runs tend to last several months to a few years, with periods of correction and consolidation. For example, the 2017 crypto bull run lasted for about a year, from January to December, while the 2021 crypto bull run lasted six months, from November 2020 to May 2021.
There is no clear answer on which crypto to buy for the next bull run. Different crypto assets have varying characteristics, risks, and potentials. BTC is considered safer but offers lower rewards. Altcoins like PIKA have a positive outlook and can provide significant rewards for investors.
There are popular models and methods to forecast Bitcoin's future price: Stock-to-flow (S2F) quantifies scarcity and suggests Bitcoin could reach over $100,000 by Q2 2024. Market cycle analysis identifies patterns and trends, indicating Bitcoin could reach a new peak by Q4 2024. Sentiment analysis measures market participants' emotions, showing Bitcoin is currently neutral to positive with signs of growing interest and optimism.
