The cryptocurrency market is undergoing a significant correction. Bitcoin (BTC), the market leader, has dipped by over 7% in the last 24 hours, triggering a market-wide sell-off. The correction is likely due to high inflation in the US, which may cause interest rates to remain higher for longer. It is also possible that crypto investors are booking their profits after BTC hit a new all-time high earlier this month.
However, let’s look at three crypto assets to watch for the end of this month.
Top 3 cryptocurrencies to watch for March-end 2024
Bitcoin (BTC):
Bitcoin (BTC) is the current market leader and will likely continue to dictate market movements for the foreseeable future. Despite its recent correction, BTC may witness a rebound, fuelled by its halving event in April. Many analysts consider halvings bullish as they reduce the supply of an asset.
Also Read: Top 3 Cryptocurrencies to Watch Before Bitcoin Halving
Furthermore, if the macroeconomic situation in the US improves, we may see the Federal Reserve get ready to reduce interest rates. In such a scenario, we may see BTC’s price reclaim its all-time high.
Ethereum (ETH):
Ethereum (ETH) got very close to reclaiming its all-time high earlier this month. However, the asset’s rally was not sustainable. Nonetheless, if BTC rebounds again, ETH may move closer, if not surpass its 2021 peak.
Also Read: Cryptocurrency: Top 3 Memecoins To Watch This Weekend
ETH currently follows BTC’s downward trajectory, falling 9.8% in the daily charts, 19.3% in the weekly charts, and 12.2% in the 14-day charts. However, the asset is still up 14.7% over the previous month and 80.7% since March 2023.
Dogecoin (DOGE):
Dogecoin (DOGE) had a meteoric run over the last few days, rallying more than 50% over the previous month. Moreover, Elon Musk recently revealed that Tesla will soon begin to accept DOGE for its automobiles. The development has opened up the debate on whether Musk’s social media platform X will accept DOGE payments in its upcoming payments feature. If so, we may be in for a treat.