The cryptocurrency market witnessed another selloff recently fuelled by fears around the US government moving over $2 billion worth of Bitcoin (BTC). BTC seems to be consolidating around $66,000 while the global crypto market cap has fallen to $2.49 trillion.
Despite the recent correction, many analysts anticipate bullish reversals for certain crypto assets. Let’s look at three coins that could hit all-time highs in August 2024.
Top 3 cryptocurrencies that may hit all-time highs in May 2024
Bitcoin (BTC):
BTC recently climbed to $69,000, but prices did not hold. The original cryptocurrency has fallen 0.7% in the daily charts and 0.6% in the last week. BTC has maintained some gains in the 14-day and monthly charts, rallying 1.9% and 5.5%, respectively.
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According to the researchers at CoinCodex, BTC will hit a new all-time high of $74,664 on Aug. 3, 2024. The platform anticipates BTC to continue rallying throughout August, hitting $87,285 on Aug. 22, 2024. Reaching $87,285 from current levels would translate to a rally of about 32%.
Pepe (PEPE):
Pepe is among the best-performing cryptocurrencies of the last year. The asset has quickly climbed the market cap charts, currently sitting at the 26th spot.
Pepe has also faced a significant price correction over the last few days, falling 9.6% over the previous week and 5% over the last 14 days.
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According to CoinCodex, Pepe will hit a new all-time high of $0.00001769 on Aug. 12, 2024. The platform also expects the frog-themed cryptocurrency to continue rallying throughout August, hitting $0.00003919 on Aug. 28, 2024.
XRP:
Ripple’s XRP token is one of the few cryptocurrencies in the green right now. The asset began rallying after an elevated optimism about the SEC vs. Ripple lawsuit coming to an end. According to a new filing by the SEC, the judge will not pass judgment on whether certain assets are securities or not as of now.