The cryptocurrency markets are humming with enthusiasm as the potential approval of spot exchange-traded funds (ETFs) for Bitcoin and Ethereum grabs attention. This prospective regulatory green light injects fresh optimism into the crypto sphere, possibly heralding another leg in the expansive digital asset bull run.
With bullish projections abounding in 2024, investors are keeping close tabs on the blockchain industry. Here are the three top cryptocurrencies to watch leading up to the next expected crypto growth surge in 2024.
Bitcoin Primed to Lead Next Crypto Market Advance
First up is Bitcoin (BTC), the flagship cryptocurrency that tends to guide overall market moves. Bitcoin has already gained over 170% year-to-date in 2023 and continues to track higher in 2024. Its sustained momentum, even amid recent crypto volatility, sets the tone for broader sentiment.
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Moreover, analysts point to upcoming catalysts that could spark an even more pronounced Bitcoin bull run. These include the long-awaited approval of a spot BTC exchange-traded fund (ETF) in the US, as well as Bitcoin’s next mining reward halving event in April 2024. Past halvings have kicked off exponential growth for Bitcoin, underscoring its investment intrigue here.
BTC has already surged past the $45,000 level. The catalysts can likely send the price higher, according to the analysts.
Ethereum Keeping Pace for Additional Upside
Ethereum (ETH) builds on this narrative as the second-largest cryptocurrency by market value. In addition, the smart contract platform has itself rallied 95% year-to-date, largely keeping up with Bitcoin’s ascent over recent months.
As both Bitcoin and the wider crypto market gear up for the next bull cycle, Ethereum seems well-positioned to continue tracking its top counterpart. The possibility of retesting or even exceeding ETH’s all-time high near $4,900 therefore persists, especially if the macro environment remains constructive.
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Ripple’s Real-World Use Case Adoption Accelerating
Rounding out the top three is Ripple’s XRP token. Ripple continues to sign on new financial institutions to leverage its efficient blockchain infrastructure for cross-border payments and global money transfers.
This expanding utility for XRP beyond just speculative demand provides unique merits. The long-term possibilities as traditional finance embraces Ripple’s offering keep XRP at the forefront of intrigue, leading into the next potential crypto boom.
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While risks always exist with cryptocurrencies, Bitcoin, Ethereum, and XRP collectively form a basket of exposure to blockchain’s prospective next growth leap. Though predicting precise price targets remains difficult, the risk-reward still appears skewed positively for these top crypto picks as optimism returns to start in 2024.