The cryptocurrency market is showing recovery signs from the bloodbath of the last two years. Bitcoin (BTC) has reclaimed the $51k price point, a level last seen in December 2021. Moreover, BTC will undergo its next halving cycle in April of this year.
Follow the Live Countdown to Bitcoin’s Halving
Many analysts anticipate the crypto market to rally following BTC’s halving, which will reduce rewards to miners by half. Several analysts consider halving events bullish as they reduce the supply.
Also Read: Top 3 Cryptocurrencies to Watch In March 2024
Therefore, let’s look at three projects to buy before BTC’s halving in April.
Top 3 cryptocurrencies to buy before Bitcoin’s halving
Ethereum (ETH):
Ethereum (ETH) is the second-largest cryptocurrency project by market cap. If BTC enters a bull run, ETH will likely follow suit. Moreover, there is much talk about a potential spot ETH ETF (Exchange Traded Fund) approval by the SEC (Securities and Exchange Commission) later this year. Both developments could push ETH’s price to new highs.
Also Read: Grayscale CEO: Spot Ethereum ETF is a Matter of When Not If
Solana (SOL):
Solana (SOL) was among the best-performing cryptocurrencies of 2023, rallying by nearly 1000% at one point. Although the asset has faced a 7.5% correction in the weekly charts, there is a possibility that SOL will rally after BTC’s halving, given we enter a bull run.
Also Read: Cryptocurrency Rankings: Solana Claims the Coveted Fourth Spot, Leaving BNB Behind
Despite the recent correction, SOL’s price has increased by 357% since February 2023.
Cardano (ADA):
Also Read: Top 3 Cryptocurrencies That Could Surge After Bitcoin’s Halving
Cardano (ADA) is another top project that could rally if we enter a bull market after BTC’s halving. ADA is also one of the most developmentally active cryptocurrency projects. High development activity is a solid metric for a project’s future growth.