The cryptocurrency market seems to be in a bit of a slump. Bitcoin (BTC) went below $62,000 yesterday but has recovered slightly to above $63,000. The global crypto market cap has risen 0.5% in the last 24 hours, currently at $2.46 trillion.
As we bid farewell to April 2024, let’s look at three crypto assets investors could watch this week.
Top 3 cryptocurrencies to watch this week
Bitcoin (BTC):
Bitcoin (BTC) is the current market leader, and other assets follow its path. Although BTC recently witnessed a significant price correction, there is a possibility of a rebound soon. The Hong Kong spot BTC ETF (Exchange Traded Fund) will go live today, which may boost BTC’s demand. Moreover, the asset recently underwent its halving cycle, which many consider a bullish event.
Also Read: Top 3 Cryptocurrencies Predicted to Hit All-Time Highs in May 2024
According to CoinCodex, the original cryptocurrency could hit an all-time high of $74,506 on May 6, 2024. The platform also predicts BTC to hit $85,208 on May 27, 2024. Changelly also anticipates BTC to hit a new all-time high of $73,903 on May 6, 2024.
Shiba Inu (SHIB):
Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. The asset is known for turning several early investors into multi-millionaires and, in some cases, even billionaires. However, SHIB’s price has been struggling off late. The asset is down 8.9% in the last seven days and nearly 21% over the previous month.
However, SHIB’s trajectory may soon change. According to CoinCodex, SHIB could hit $0.00003518 in early May. Moreover, the platform anticipates the dog-themed cryptocurrency to hit $0.00008042 on May 27, 2024, which is close to its all-time high. If the asset can hold prices at $0.00008, it may witness a new all-time high.
Toncoin (TON):
Toncoin (TON) has had a stellar performance in 2024. The popular cryptocurrency hit an all-time high of $7.63 on Apr. 11, 2024. However, the asset is down by over 30% from its peak.
Also Read: Cryptocurrency: Top 3 Coins To Watch Under $1 In May 2024
Nonetheless, TON may witness a rally this week. According to CoinCodex, TON could hit a new all-time high of $7.79 on May 6, 2024. Moreover, the platform predicts TON to hit $17.81 on May 27, 2024.