This is Why Crypto Bull Run is Imminent in 2024; Here’s How You Prepare For It
The post This is Why Crypto Bull Run is Imminent in 2024; Here’s How You Prepare For It appeared first on Coinpedia Fintech News
The global cryptocurrency market is heating up again, and investors are taking it as warming up before the impending bull market. 2024 started with high hopes from the market, where the leading cryptocurrency, Bitcoin (BTC), took charge and hit an all-time high (ATH) at $73K.
Approval of spot Bitcoin and Ethereum ETFs, Bitcoin halving, and other altcoins rallying assured the claims of a bull run. But the developments in the later few months calmed down high hopes and turned the market into another cycle of uncertainty. After witnessing a recent low, Bitcoin’s price is accelerating again, currently trading at $66K. The global crypto map is also sustaining well at $2.44 Trillion.
Famous crypto analyst Lark Davis brought attention to these developments and foresees an imminent crypto market bull run. Here is why the analysts are highly optimistic about a rally in the coming months.
Political Influence: The presidential elections in the United States are underway, and sentiments indicate Donald Trump’s victory. Trump is known for his pro-crypto stance, and his win could create a more favourable regulatory environment for crypto assets that eliminates the uncertainties around burgeoning asset classes in the US and encourages market growth.
Altcoin ETFs: 2024 started with the approval of Bitcoin ETFs, and then altcoin ETFs became common in mainstream conversations. Soon enough, Ethereum ETFs got a green signal that further cleared the road for more crypto-backed exchange-traded funds (ETFs). As seen earlier, crypto funds increase investors’ participation, exposing them to crypto investments and further growing liquidity and demand.
Global Money Supply Increase: Davis highlighted the developments in the internal policies of countries like the US and China, which can influence the international market. The US Fed will likely ease its monetary policies, while China may increase its money printing, leading to an influx of capital into the crypto market. It is historically evident how an increase in the global money supply pushes crypto prices higher.
Global Liquidity Index Rise: Improved market liquidity, reflected in the rising global liquidity index, often correlates with higher asset prices. As the index recovers from its recent lows, cryptocurrencies could experience significant gains due to enhanced liquidity.
Influential Backers: Endorsements from high-profile figures like Larry Fink of BlackRock and Michael Dell of Dell Technologies could attract more institutional investment into Bitcoin. These endorsements validate Bitcoin as a legitimate asset, increasing its appeal to large-scale investors and prices.
These analyses draw an outcome of a crypto bull run shortly. It becomes crucial for investors to prepare for this event to turn into a wealth-creating opportunity. Among multiple cryptocurrencies, to make a good return on investment, a handful of tokens make a better choice than others due to their offerings and potential. Since the crypto bull market is about to come, investors can watch XVG, LAND, and METIS tokens.
Verge (XVG)
The XVG token is making the headlines after its recent trading price breakouts. Although the token has been stalling for a better part of the year, there have been notable movements in trading prices.
Verge (XVG) is a privacy-focused cryptocurrency that aims to offer secure, anonymous transactions. It leverages advanced technologies such as the Tor network and I2P (Invisible Internet Project) to obfuscate IP addresses, ensuring user privacy.
These robust privacy features appeal to users seeking anonymity, driving demand for XVG tokens. Additionally, fast and low-cost transactions make XVG practical for everyday use, increasing adoption and token value.
XVG investors are bullish on the token’s price after the recent price surge. Currently, the XVG token is trading at $0.0046, following an 11% rise in the last week. As mentioned above, it has been going sideways for most of the year, but the token is expected to keep up the momentum given the recent uptrend.
Landshare (LAND)
Landshare tokenizes real estate and introduces a novel use to the blockchain, bypassing conventional obstacles like expensive entrance expenses and intricate legal procedures; this process enables investors to invest directly in real estate assets via blockchain.
The $LAND token has experienced significant growth because of its distinctive value proposition, which combines DeFi (decentralized finance) features with real estate investing. Due to BlackRock’s rising interest in tokenization, the Real World Asset (RWA) sector has received more attention globally recently, which has helped LAND. Propelled by the broader trend of asset tokenization across numerous industries, the RWA industry is increasing in the dynamically changing cryptocurrency market.
The token’s value increased almost 500% in a few days, from $1.3 to $7.2. Holders of the LAND token profited greatly from this spike, highlighting the token’s encouraging future as the RWA industry grows. Following a 4% weekly decrease, LAND currently trades at $2.8.
The successful sale of four tokenized properties on the Binance Smart Chain (BSC) demonstrates how well Landshare has used the LAND token for transactions. This demonstrates Landshare’s operating solid capabilities and readiness for further market acceptance.
The LAND token trades at $2, losing 2% in the last 24 hours. Last week turned out well for the cryptocurrency market, and hence, the Landshare native token also ended up jumping 6%. However, the token’s potential keeps investors’ optimism high. It attained a yearly high of $7 and is likely to regain it once the market hits momentum.
Metis (METIS)
Metis is a layer-2 scaling solution for Ethereum that aims to improve scalability, reduce transaction costs, and enhance user experience. It utilizes Optimistic Rollups to bundle multiple transactions into a single batch, processing them off-chain while maintaining Ethereum’s security. Metis offers a decentralized autonomous organization (DAO) framework called DAC (Decentralized Autonomous Company), enabling businesses and developers to create scalable and efficient decentralized applications (dApps).
The key features include fast transaction speeds, low gas fees, and seamless integration with Ethereum. These advantages attract more users and developers, driving demand for METIS tokens and boosting their price through increased utility and ecosystem growth.
After a notable increase in the price of 21%, METIS token is trading at $49.5. The token has suffered the recent downturn across the crypto market, but it did well in the yearly time frame. METIS is trading 191% up in the yearly time frame.
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