As Bitcoin continues its steady climb toward its all-time high price, prominent cryptocurrency analyst Altcoin Buzz believes the market is on the cusp of a major uptrend for altcoins. With Bitcoin hovering just below its peak of around $69,000, optimism is swirling among crypto investors.
Adding fuel to the bullish flames is the approval of several Bitcoin ETFs in January as well as the upcoming halving event in April 2024. The halving, which happens every four years, will slash Bitcoin’s issuance rate in half, creating a supply shock that has preceded Bitcoin’s greatest bull runs in the past.
In cryptocurrency markets, Bitcoin often leads each cycle, with altcoins trailing behind in what analysts call an “alt season.” In addition, if Bitcoin reaches another all-time high and confidence soars in the space, Altcoin Buzz expects a repeat where capital rotates down from Bitcoin into overlooked altcoins, sparking the next altcoin mania phase.
Also read: Cardano Forecasted To Surge 123%: ADA To Hit $1 Next?
Three Altcoins Primed to Surge
Eager to identify the top altcoins poised to ride this impending bull wave, Altcoin Buzz highlighted Akash Network (AKT), COTI Network (COTI), and SUI (SUI) as three standouts on their radar.
AKT aims to provide an alternative cloud computing solution by creating a marketplace where users can rent excess computing capacity. Additionally, with demand for GPUs surging, AKT’s affordable pricing model positions itself perfectly for growth. AKT is trading at $4.28 at press time.
COTI offers a financial ecosystem focused on empowering payments, stablecoins, lending, and more, all while emphasizing privacy and scaling through integration with Ethereum Layer 2 networks. After recently rallying over 300%, COTI seems ready for the next leg up. COTI is trading at $0.2012 at press time.
Also read: Ethereum Breaches $3,500; Can ETH Hit $4,000 Next?
Finally, SUI represents an emerging leader in blockchain gaming as the industry expands towards a projected $312 billion market by 2027. The team combines gaming with crypto to offer features like play-to-earn functionality, NFT integration, staking, and more, making SUI a possible breakout candidate. SUI is trading at $1.54 at press time.
With Bitcoin flashing bullish signals and these altcoins demonstrating promising utility, the start of the next major crypto bull run appears imminent. Savvy investors may want to take positions ahead of the herd before the FOMO kicks into high gear.