According to the recent Goldman Sachs report, Bitcoin could be over $100,000 per coin within five years! However, bitcoin isn’t the only coin in the market. Numerous other cryptocurrencies will rise drastically in 2024.
From Ethereum to Cardano, every crypto has exceptional features worth paying attention to in 2024.
Here are the top 5 cryptocurrencies that you can consider:
1. Bitcoin
Bitcoin is a decentralized digital currency that runs on a peer-to-peer network, ensuring safe, quick, and affordable transactions without any middlemen like banks or payment processors.
The 21 million units of Bitcoin are distributed over time through a process known as mining. Furthermore, miners solve challenging mathematical algorithms to verify transactions and add new blocks to the blockchain.
By 2024, it is estimated that Bitcoin will be worth more because of its constrained supply and rising demand, which can cause prices to grow.
What can you Expect?
If the market sustains its negative trend, the lowest realistic price for Bitcoin would be $40000. Otherwise, we expect a rise to its all-time high of $74,000. According to that concept, if you purchase Bitcoin at a low price of $20,000, its value might double. Additionally, if the market turns bullish, it could increase by 3.5 times.
2. Ethereum
Ethereum is a software platform that creates smart contracts and distributed applications (Apps) for various uses. Furthermore, by market capitalization, it is the second-largest crypto in the world after Bitcoin.
The expansion of decentralized financial (DeFi) apps developed on the Ethereum platform is one of the critical factors driving Ethereum’s estimated price increase by 2024. Additionally, DeFi allows users to utilize financial services directly, lowering costs and broadening access to financial products.
What can you Expect?
Growing Ethereum usage could promote ETF, spot ETF development, and global recognition. Moreover, Ethereum is the greatest option for newcomers to the crypto world. By the end of 2024, we expect the altcoin’s price to reach a high of $2900.
3. Cardano
Charles Hoskinson is the co-founder of Ethereum which launched Cardano in 2015. This is another blockchain platform to offer transparent and safe ways for developing and performing smart contracts and decentralized applications (dApps).
By 2024, the value of Cardano’s ADA token will likely increase due to its positive technical trend.
Cardano’s recent successes are another factor contributing to its anticipated development. Additionally, high acceptance, partnerships, and interaction with other blockchain projects are also taking place.
Alonzo, Cardano’s recently released intelligent contract feature will spur even greater platform adoption and application cases, possibly increasing the price of the ADA token.
What can you Expect?
According to information from several sources, Cardano prices could range from as low as $1.73 to as high as $3.50 in 2024, with a standard price of about $2.62.
These forecasts, however, are not final and could alter depending on several variables like market conditions and technical advancements. A new ATH (All-Time High) for this crypto is also predicted to occur in 2024.
4. Polkadot
A new generation of blockchain technology called Polkadot links various specialized blockchains into a single network. Moreover, it was a component of a larger plan for a web that gives users back power over internet monopolies.
Because of Polkadot’s recent rise, it’s worth is expected to increase by 2024.
Polkadot enables many blockchain networks to operate seamlessly by sharding and parallel processing. This furthermore draws additional investors and developers to its ecosystem, increasing the value of the Polkadot coin.
What can you Expect?
Although estimating Polkadot’s maximum value in 2024 is challenging, technical analysis indicates that the DOT value can reach a top of $15 and a minimum of $8.5. Additionally, 2024 will welcome an average market price of about $11.
5. Shiba Inu
As an alternative to Dogecoin, Shiba Inu (SHIB) is a meme-based crypto that uses the Shiba Inu dog breed as its mascot. Moreover, based on it is an alternative cryptocurrency based on Ethereum that has gained a lot of interest recently.
Shiba Inus are becoming more popular on social networking sites like Reddit and Twitter, which is why it is highly likely that its price will increase next year.
Because of all the hype and speculative activity surrounding the currency, its demand and price may rise sharply.
Shiba Inu’s substantial circulation supply, estimated to be 590 trillion at the time of writing by CoinMarketCap, is another factor contributing to expectations that its value will increase.
What can you Expect?
Nevertheless, if the downtrend continues well into 2024, you may look at a price range of $0.00004, which is still a significant gain. However, we expect Shib to rise above the present low and break the 0.000088 level, its previous all-time high.
The Shiba development team is busy, and in 2024 several significant events, including the Shibarium’s introduction, will raise Shiba’s value.
Are you ready?
The question is – what can we do with the information mentioned above? Investors should understand the possible risks and benefits of every investment.
These 5 cryptocurrencies have a potential for rapid growth, but it’s essential to proceed with every investment with critical thought.
Lastly, one strategy to test if you are interested in these cryptocurrencies is to do your own research to make an informed decision.
