The year 2023 was the year of the biggest hits when it came to the crypto market. Bitcoin and Ethereum delivered over 155% and 90% of investors’ returns respectively. Prices of crypto coins went up by 9600% last year.
Apart from Bitcoin and Ethereum, other popular crypto tokens that surged are Solana which achieved a 965% return, Avalanche got a 266% return, Cardano 147%, Polkadot 96%, XRP 82%, BNB 30%, Dogecoin 30%, and Shiba Inu 30%.
Experts have predicted that 2024 will be greater than 2023 for cryptocurrencies. If you are thinking of stepping into crypto trading, this article will introduce you to the cryptocurrencies that are likely to go up the charts according to the predictions in the year 2024.
Like the previous year, Bitcoin and Ethereum are likely to be the hits. However, apart from the established ones, we will also go through the other currencies that are predicted to go up this year.
So, here is the list of the cryptocurrencies to invest in the year 2024.
- Bitcoin (BTC)
Bitcoin is the world’s first and oldest cryptocurrency that has been going successfully over the years. It also has the largest market capitalization. Bitcoin is a decentralized cryptocurrency that does not require any intermediary.
As mentioned before, by the end of 2023, the trade ended at 155% which is quite a big hit. Predictions show that the minimum cost for BTC in 2024 will be $32,886.68 and it can reach up to $65,477.21. The average trading price will be around $98,067.73.
- Ethereum (ETH)
Ethereum is a blue-chip cryptocurrency. Crypto analysts predict that 2024 will be a great year for ETH. Ethereum is a decentralized open-source blockchain system and paved the way for blockchain smart contracts.
Smart contracts are a program that automatically does or executes actions between several parties on the internet. From the beginning of 2024, the currency had an exceptional performance.
For the year 2024, price predictions for Ethereum coins are quite high. The minimum price will be $1,800, and the maximum price will be $6,500.
- Ripple (XPR)
XPR was created by the tech company Ripple Labs in the year 2012. By the end of 2022, the prices of XPR have taken an upward journey. It has also performed well in the year 2023. According to the price predictions of XPR for the year 2024, the average price will be 1.915 and the potential high will go up to 2.23.
However, experts also predict that if the prices remain at 1.60 which is a low record for the coin, it can indicate a down phase. If the number of prices surges, it could drive its charts to $1.
- Monero (XMR)
Monero enables traders to conduct transactions privately and with anonymity. It was launched in 2014. Privacy and security are the major priorities of XMR. The minimum cost of Monero is expected to be $138.22 and can reach up to $179.37. The average trading price will be around $220.52.
However, there can be some lows and downs across the years, and the final price range can vary depending on different factors.
- Solana (SOL)
Solana is an open-source project based on blockchain technology to provide decentralized finance (DeFi) solutions. It is mainly designed to facilitate a decentralized app (DApp) creation.
It provides great scalability and fast processing times. 2023 was a great year for Solana traders. Traders also conduct trade at affordable transaction fees and are said to be stable and effective.
According to the latest analysis, the prices can begin at a negative at the beginning of the year and start at $-1.82. Predictions also show that the prices can go up to $48.96 and the average is around $99.47.
- Cardano (ADA)
Cardano is an open-source project founded in the year 2017. It is one of the biggest blockchains and uses a proof-of-stake consensus mechanism. It has been currently ranked at No.8 among the cryptocurrencies.
Price predictions for Cardano estimate that it will end with a price of $0.95 by the end of 2024. The maximum price will be $1.55 and the minimum price will be $0.45.
I hope this provided you with some insights into how the market will be for the year 2024. Experts predict that this is a great year for traders.
However several factors such as recent laws, and unstable economic conditions can shake the market performance a little bit. It is important to conduct extensive research before making any decisions.
