The cryptocurrency market is witnessing a bloodbath. The market dip is most probably due to miner capitulation, a shortage of new money, investor fatigue and withdrawals from exchange-traded funds (ETFs). The cheap prices can offer existing investors a fantastic chance to grow their holdings, or they might be a great entry point for new investors.
Let’s look at three crypto assets to watch for June end, 2024.
Top 3 cryptocurrencies to watch in June end 2024
BTC:
Crypto analyst Ali Martinez claims that Bitcoin has returned to the oversold area and could break out from its present trajectory. Last week, the average cost of mining Bitcoin exceeded $86,000, indicating that the price of a single Bitcoin would also rise over this mark. Martinez also pointed out that throughout the previous two years, Bitcoin has approached the oversold zone three times, and each time it has recovered by at least 60%.
Also Read: Cryptocurrency: Top 3 Coins To Watch This Week
A trend reversal for BTC could trickle into other assets, leading to a market-wide rally.
Ethereum (ETH):
The US Securities and Exchange Commission recently approved ETFs for Ethereum (ETH). The first ETH ETF may launch in early July, and could potentially trigger a rally for the second-largest cryptocurrency. The BTC ETFs from earlier this year took the original cryptocurrency to a new high. We may witness a similar pattern for ETH.
Also Read: Cryptocurrency: Top 3 Coins To Buy During The Dip
dogwifhat:
dogwifhat (WIF) is currently among the best-performing cryptocurrencies in the daily chart. The memecoin is also among the best-performing crypto assets of the last year. WIF may continue its rally as investors pull away from main stream crypto assets. Traders may be opting for memecoins and smaller projects while the larger cryptocurrency market takes a beating.