Three promising cryptocurrencies! April will likely be the biggest month for cryptocurrencies so far in 2024. This is quite a feat considering that the Bitcoin (BTC) reached a new all-time high in March. Additionally, the United States saw the approval of its first BTC exchange-traded funds (ETFs) in January.
The month will likely feature major movements in the cryptocurrency market, mainly centered on the halving event.
A recent carnage in the cryptocurrency market has also ensured that many cryptocurrencies are currently below their current yearly highs. In such a way that they are presenting multiple value buying opportunities for prospective investors.
Finally, April could also be big for meme coins as not only are many new ones being launched on the blockchain Solana (SOL)but it wouldn’t be out of the ordinary for a prominent influencer — like billionaire Elon Musk — to pull an April Fools prank leading to a rally.
Bitcoin (BTC)
Although Bitcoin has already seen a huge increase in 2024, the coin will likely be the big star of April due to the halving event. As a result, it will reduce mining rewards and make it much more difficult to extract the remainder of the cryptocurrency’s finite supply.
Despite its high price, history shows that BTC could soar significantly in the coming months. This is because, after previous halvings, it increased in value anywhere between ten and a hundred times, regardless of the starting point.
Even though the rally is less significant than in the past, Bitcoin has recently stabilized around US$67,000 after a brief shipment over $70,000. Additionally, price targets for 2024 remain bullish overall. For example, such as that made by prominent investor and author of the best-selling personal finance book ‘Rich Dad, Poor Dad’, Robert Kiyosaki – reaching US$300,000.
Despite the current pause, which has even seen BTC drop 1.56% in the last 7 days and 0.16% in the last 24 hours, the world’s leading cryptocurrency has risen significantly since the beginning of 2024. Bitcoin is up 57.24% in green year-over-year (YTD) with a current price of US$66,836.
Cardano (ADA)
Since the end of 2023, the Cardano (ADA) got both a big price increase. In such a way that he saw him rise from US$0.24 in October for US$0.64 on Monday, March 25th. Then it began to establish a pattern in big rallies followed by corrections that eventually lead to new, even bigger rallies.
If the Cardano continues to follow the trajectory that has already seen it soar 80% in 52 weeks and rise 6.43% in 2024, it could soon aim to recover its old highs above US$2.80.
There have been several developments indicating that such momentum may be forming. The number of smart contracts on Cardano’s Plutus v1 and v2 platforms has been growing steadily. So much so that the first quarter of 2024 saw four times as many contracts added as the entire year of 2023.
Furthermore, there has been broad and high interest in ADA, as evidenced by the fact that Cardano has been adding, on average, 2,000 new wallets every day since January 1st.
Dogecoin (DOGE)
While nothing is guaranteed when it comes to meme coins, there is a distinct possibility that many of the internet’s joke-based cryptocurrencies will experience major rallies in April.
In fact, the current phase in the cryptocurrency market has already seen several rags-to-riches stories with newer cryptocurrencies. For example, Dogwifehat It is Slerf (SLERF)in which traders made millions relatively quickly.
O Dogecoin (DOGE), the world’s oldest meme coin, remains a strong contender in 2024. Thus, coupled with its prominence, it is well positioned for a rally. This is because even if there is no repeat of history – early April could see it soar as investors bet that Elon Musk will repeat his X-joke of 2023.
Still, having soared 135.97% in the last 52 weeks, 99.36% in the last 30 days and 15.61% on the weekly chart to $0.176 – a high not seen since late 2021 – Dogecoin remains a risky bet , but promising.
Disclaimer: The content of this website should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: Atrevida
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
