The crypto market has slumped over the last few days. Bitcoin (BTC) surged above $44k but has now fallen below $41k. Many analysts anticipate a bull run for the cryptocurrency market in 2024. Researchers point to the possibility of the US SEC (Securities and Exchange Commission) approving a spot Bitcoin (BTC) ETF (Exchange Traded Fund) as one reason for a bull run. Moreover, BTC will undergo its next halving cycle in April 2024. Both developments could push the crypto market into a 2021-like bull run.
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Let’s look at three cryptocurrency projects that could hit all-time highs (ATH) in the next bull run anticipated in 2024.
Top 3 cryptocurrencies that could hit ATHs in 2024
Bitcoin (BTC):
If we enter a bull market in 2024, BTC will likely lead other cryptocurrencies. Since the bull run depends on a spot BTC ETF and BTC’s halving, it makes sense that BTC may hit a new all-time high next year.
BTC has led the market in 2023, growing by almost 150% since January. However, the asset has slumped over the last few days, most likely due to the Federal Reserve’s interest rate stance.
Solana (SOL):
Solana (SOL) is among the best-performing cryptocurrencies in 2023. Since January, the asset has risen by over 500%. Moreover, SOL’s performance is especially commendable because it was one of the worst-affected cryptocurrencies after the collapse of FTX. SOL has shown that it is a resilient project that can withstand the worst tides.
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SOL is currently down by 74.6% from its all-time high of $259.96, which it attained in November 2021. SOL reached its ATH just a few days before BTC. Hence, the pattern may repeat in 2024.
XRP:
Ripple’s XRP token is one of the most popular cryptocurrencies in the market right now. Moreover, the asset’s price may surge to new highs in 2024. Firstly, there is some uncertainty about XRP’s status as a “security” or “non-security.” The higher court may take the same route as the district court and declare the sale of XRP to retail customers as “non-security.” In such a situation, XRP might see a surge in new users and a price increase.