The cryptocurrency market seems to be slowly recovering from its recent slump, with the global market cap rising 1.4% in the last 24 hours, currently at $2.59 trillion. With Bitcoin’s (BTC) halving successfully completed, there is a possibility of another market-wide rally.
With that said, let’s look at three assets predicted to hit all-time highs in May 2024.
Top 3 cryptocurrencies predicted to all-time highs in May 2024
Bitcoin (BTC):
BTC is the market leader, and other assets follow its lead. BTC recently underwent its halving cycle, reducing the asset’s supply. Moreover, BTC ETFs (Exchange Traded Funds) continue to see inflows, with BlackRock’s BTC ETF witnessing over two months of continued inflows.
According to CoinCodex, the largest cryptocurrency by market cap could hit a new all-time high of $74,526 on Apr. 27, 2024.
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Furthermore, CoinCodex anticipates the original cryptocurrency to continue its bullish trajectory in May, hitting a high of $87,247 on May 21, 2024. Reaching $87,247 from current levels would translate to a growth of about 30.57%.
The bullish narrative around BTC is likely due to spot BTC ETFs seeing constant inflows. Furthermore, historically, the cryptocurrency market has usually rallied after BTC’s halving.
Shiba Inu (SHIB):
Shiba Inu (SHIB) has rallied 2% in the daily charts and nearly 21% over the previous week. SHIB is one of the most popular cryptocurrencies in the market, and analysts anticipate the asset to continue its bullish trajectory in May.
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According to CoinCodex, SHIB could hit a new all-time high of $0.00009149 on May 22, 2024. Reaching $0.00009149 from current levels would translate to a growth of about 235.7%.
Toncoin (TON):
TON hit an all-time high of $7.63 on Apr. 11, 2024. Although TON is currently down by 22.7% from its recent peak, analysts anticipate the cryptocurrency to hit a new all-time high soon.
According to CoinCodex, TON could surge to $19.38 on May 21, 2024. Reaching $19.38 from current levels would translate to a growth of about 230.15%.
