A bull run is a phase in the crypto market cycle where the prices of Bitcoin and altcoins experience rapid increases in a relatively short time. Bull runs usually occur after long bear market periods where crypto prices experience sharp declines and stagnation.
Bull run conditions are characterized by euphoria and hype from traders and investors to buy crypto, so that demand increases drastically. The prices of Bitcoin and major altcoins can rise hundreds of percent or even thousands of percent during short bull runs.
Almost all crypto analysts and traders agree that the peak of the next crypto bull run will occur in 2024, after the Next Bitcoin Halving event. The 2024 halving is expected to create a supply shock that will send Bitcoin prices to fantastic levels, followed by an even more severe increase in altcoins.
Here is the opportunity for low-cap altcoins to explode in price 50x, 100x, or even 1000x beyond their all-time high. Here are 5 potential altcoins that must be taken into account to become the top crypto on a global scale at the peak of the 2024 bull run.
1. Ethereum
Ethereum (ETH) is predicted to reach $30,000 at the peak of the bull run in 2024. With the current price around $1,500, that means a potential increase of more than 20x. Investors are optimistic about the impact of the merger and ETH’s very mature technological foundation. However, based on estimates from Cryptonewz, ETH is expected to touch $5,000 by the end of 2024. Although Ethereum has undergone some important technological changes, such as The Merge, which turned it into an energy-efficient proof-of-stake blockchain, this has not yet significantly affected its price.
Although Ethereum has undergone some important technological changes, such as The Merge, which turned it into an energy efficient proof-of-stake blockchain, this has not significantly affected Ethereum’s price. Currently, the price of Ethereum has reached a new peak of around $3,050 in 2024. However, investors should remain alert to the volatility of the crypto market and other factors, such as monetary policy and crypto regulations, that may affect the price of Ethereum in the future.
2. Polygons
Polygon (MATIC) is a layer 2 network for Ethereum that is predicted to explode to $10 per token at the peak of the 2024 bull run, while currently sitting around $1.5. Development and integration progress after the merger also boost Polygon’s long-term prospects. According to predictions from CoinEdition, Polygon (MATIC) is expected to reach $5.97 in 2024 and even $10.16 in 2040.
In addition, long-term price predictions by Tekedia estimate that Polygon could reach a price of $54.85, or the equivalent of IDR 854,631 per token. Nonetheless, it is important to remember that the crypto market is highly volatile and influenced by many external factors, so investors need to do their own research before making an investment decision. With new projects continuing to develop and scalable solutions on offer, the potential for growth in the investment value of MATIC looks bright in the future.
3. Decentraland
Decentraland (MANA), as a pioneer of the blockchain metaverse, has the potential to explode 10x to 100x with the explosion of P2E gaming and NFT in 2024. With a current price of around $0.7, MANA, according to Amb Crypto, is predicted to reach a price range of between $0.32 and $0.48 in 2024. Predictions Prices from Coin Codex also show that Decentraland is expected to trade in a range between $0.473717 and $1.643550, with upside potential of up to 192.28% if it reaches the highest price target.
Nonetheless, it is important to remember that the crypto market is highly volatile and influenced by many external factors, so investors need to do their own research before making an investment decision. With promising roadmap developments and positive trends in the metaverse, Decentraland (MANA) shows exciting growth potential in the future.
4. Chainlink
Chainlink (LINK) is the largest oracle network in the crypto world and is projected to reach between $200 and $500 per token at the peak of the 2024 crypto supercycle. Currently, the price of LINK is in the $7-8 range. The rapid adoption of blockchain data by enterprises has been a major driver of LINK’s price increase. Chainlink enables companies to leverage innovations in the smart contract economy by giving them a secure, abstract layer to easily interact with any smart contract. Many leading companies and institutions are already working with Chainlink to unlock additional sources of revenue and take advantage of the services offered.
According to predictions from ambcrypto, the Chainlink price for April 2024 is expected to range between $17.80 and $20.48. Price predictions from Coin Codex also show that Chainlink is expected to trade in a range of $20,774 to $36,383 in 2024, with the potential to reach $40. With the strategic partnership between Chainlink Labs and PwC Germany to accelerate blockchain adoption by enterprises as well as continued technological developments, Chainlink (LINK) shows exciting growth potential in the future.
It is important to remember that the crypto market is highly volatile and influenced by many external factors, so investors need to do their own research before making an investment decision. With a focus on technology development and wider integration, as well as increasing adoption from enterprises, the prospects for growth in investment value in Chainlink (LINK) look bright in the future.
5. The GRAPH
The Graph (GRT) has been dubbed “Google for blockchain” due to its vital role in providing decentralized data for blockchain. The potential increase of up to 100x from $0.1 to $10 for GRT is supported by the integration of new tokenomics and the high commitment of The Graph developers. Over time, the graph has achieved several important milestones. In October 2021, The Graph launched Mainnet 2.0, which offers significant improvements in network performance and security.
Then, in February 2022, The Graph announced an integration with Solana to expand the reach of its query and indexing services to the Solana ecosystem. In August 2023, The Graph released the latest version of its protocol, which introduced new features such as Subgraphs V2 and Subgraph Studio. By continuing to innovate and adapt to the needs of the rapidly evolving blockchain market, The Graph (GRT) shows exciting growth potential in the future.
Conclusion
Ethereum (ETH), Polygon (MATIC), Decentraland (MANA), Chainlink (LINK), and The Graph (GRT) have proven to be five pioneering altcoins and have performed exceptionally well so far. The five of them have the potential to seriously explode into leading positions when they enter the peak of the 2024 crypto bull run supercycle.
The fundamental prospects regarding the adoption and development of Ethereum blockchain technology, Oracle Network, Metaverse, and Graph Database in the next 2–3 years are very promising. This is the main determinant of the massive upside of these altcoins at the peak of the bull run later.
Added to this are the high popularity, market liquidity, and very mature ecosystem of these five crypto assets. Investors also need to consider the potential of Litecoin (LTC) and NEM (XEM) as low-cap cryptocurrencies that can provide extreme upside surprises amidst bull euphoria.
So, despite the very high volatility, the opportunity to achieve mega-scale profits at the peak of the bull market remains very open. A long-term investment strategy with good risk management is the key.
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