Best Altcoins For Next Bull Run. I have devoted all this time to watching the crypto market and waiting for the following movements. The year 2024 is knocking on the door, so it is very appropriate now to speak about the emerging altcoins that may bring promising profits in the upcoming bull market.
I have spent a lot of time studying and learning the technology behind blockchain and conducting deep market research to explain the upcoming successful projects.
Key Takeaways
- Crypto has its cycles defined by sharp price increases over time and follows the trend of Bitcoin.
- Ethereum plays a central role in DeFi, intelligent contracts, and markets.
- Chainlink is critical in providing intelligent contracts with necessary data.
- Polkadot is a significant novelty in the market because of its ability to communicate with other chains.
- Solana will benefit from its rapid transactions and minimal costs as it grows significantly.
Understanding the Crypto Bull Run and Its Cycles
Before I discuss my top altcoins, let’s understand what a ‘bull run’ in the cryptocurrency market refers to.
Bull run refers to a time when, within a short period, the prices of, specifically, altcoins, the growth in the number of investors, the investor’s market, the pattern, and positive feelings.
A tendency has been noted across the history of the crypto bull run phases: the bull phase is asymmetrically transacted after the rise, marked by a high movement of Bitcoin or simply BTC.
The Role of Bitcoin and Ethereum in the Next Bull Run
Bitcoin (BTC) and Ethereum (ETH) are the leading two cryptocurrencies in the market. They often dicey often the entire market.
When BTC’s price explodes on the charts, the entirety of the crypto sphere will most probably follow suit. In contrast, Ethereum is at the heart of DeFi and smart contracts and is the platform for most dApps and NFTs.
The following crypto bull run will probably lean most heavily towards the success of Bitcoin and Ethereum.
My Top Altcoin Picks for the Next Bull Run
1. Polygon (MATIC)
Polygon, previously known as Matic Network, is a layer-2 Ethereum scaling solution that aims to lower transaction costs and improve the Ethereum network’s scalability.
With the aggressive rise in decentralized trading and dApps, a platform like Polygon, which can facilitate transactions quickly and cheaply, is very important.
Polygon made significant progress in 2023, and I believe this trend will persist in the next bull run.
2. Solana (SOL)
Solana has emerged as one of the most hotly discussed products within the Cryptocurrency ecosystem.
Its soaring transaction speed and low transaction fees have crowned Solana as Ethereum’s worry.
It has been making moves in the DeFi and NFT sectors, and projects are being developed on its blockchain system. Therefore, it is probable that Solana will rank as one of the best-lurking altcoins in 2024.
3. Avalanche (AVAX)
Subsidiary Avalanche refers to a layer-1 blockchain that is concentrated on mostly high throughput.
This platform is rapidly gaining traction since it is suitable for using Ethereum-based apps and has a novel consensus mechanism that is quicker and less energy-intensive than others.
Since it can handle thousands of transactions in a second and concentrate on DeFi, Avalanche is likely to make significant profits in the upcoming bull run.
4. XRP (Ripple)
As of late, the Ripple network has become a topic of headlines for XRP, its token, mainly due to the legal wars currently taking place in the US.
XRP can still hold its position within the top 10 branded cryptocurrencies by market cap even with these developments.
Looking at it positively, if Ripple manages to surmount its legal challenges, XRP will be set to increase in price within the next crypto uptrend, as most of its future clients would be banks that facilitate international settlement
5. Stellar (XLM)
Stellar is a network that can be tagged to XRP due to its distributed design, which aims to improve cross-border payments.
Unlike XRP, however, Stellar focuses on users and small enterprises rather than large banks.
Owing to its wide range of innovative features and patents and its recent association with IBM, Stellar may be among the best altcoins to invest in the next crypto boom.
6. Polkadot (DOT)
The main goal of Polkadot is to address the issue of different blockchains working together.
Unlike these other networks, however, its novel architecture enables transmitting and exchanging messages and value between unrelated blockchains.
Given that these projects are seeking an approach to expanding their base and interacting with many chains concurrently, it would be fitting to assume that Polkadot will join the top players at the beginning of the next bull cycle.
7. Chainlink (LINK)
Chainlink is a type of blockchain technology known as an oracle, which supplies information from the outside to smart contracts on the blockchain.
It forms an essential part of the DeFi markets, as most decentralized apps require some reliable information from the outside.
With the pandemic and the increased attention and adoption of DeFi, Chainlink could make a profit during the next bull cycle.
8. Kaspa (KAS)
Like three other coins on my list, Kaspa is a younger cryptocurrency gaining popularity thanks to its remarkable Block DAG design, which seeks high throughput and scalability.
It is meant to accommodate the next wave of blockchain applications and help projects challenged by the current blockchain infrastructure scale their ventures.
9. Render Token (RNDR)
Render Token belongs to the continuously rising niche of AI and metaverse. This one concerns real-time GPU rendering, which is required for very intensive graphical applications like games, virtual reality, or AI.
With the expansion of these industries, it is becoming increasingly evident that an effort is being made to develop more efficient and scalable rendering solutions.
There may be good reasons to hope that RNDR will be at the top of crypto this time for anyone seeking the next opportunity in the bull run.
10. Decentraland (MANA)
Users of Decentraland, a virtual reality environment built on Ethereum’s blockchain, may produce content and software, explore, and profit from it. It has attracted interest recently, especially given the growing focus on the metaverse.
As companies like Meta (formerly Facebook) continue to advance in making the Internet more interactive, applications like Decentraland may increase in use and value with their token.
Factors Influencing the Next Bull Run
- Bitcoin Price Movements: Like every other bull run, Bitcoin is expected to take center stage. If Bitcoin rallies and goes on a significant bull market, it can damage the different assets, including the altcoins.
- Regulatory Developments: Many countries are drafting and reviewing regulations regarding cryptocurrency. Good regulation can spur a bull run, while the opposite is true.
- Technological Advancements: When new developments happen with the blockchain, like Ethereum’s switch to Proof of stake or new De-Fi protocols, for instance, they cause a positive surge in the market.
- Market Sentiment: Investors’ overall outlook can significantly impact the market. During a boom time, even the most obscure altcoins could rise fully.
My Investment Strategies for the Next Bull Run
- Diversify Your Portfolio: Do not place all your faith and funds on just one powwow coin. Diversifying is a great way to mitigate risk through various assets.
- Do Your Due Diligence: Before you invest your money, check the team behind the project, its technology, and any use case that may seem reasonable. Get in knowing the risks.
- Take Profits Wisely: It is easy to think that once money has been pooled into an investment, the safest option is to wait in the hope that the price continues relative to it. Still, taking some profits up at certain levels helps maximize returns and reduce risk exposure.
- Stay Informed: Catching up on trends or any relevant news concerning the market is essential. You can monitor the token and news feeds of well-known sources and experts to pull ahead.
My Opinion
It is not mere herding to determine the best altcoins that are likely to perform better during the next bull run.
One must reasonably know the crypto market, technological trends, and projects.
In my opinion, the altcoins I have discussed will likely perform better than the market in 2024 and beyond. Despite this, remember that cryptocurrency is highly volatile and has significant dangers.
Never invest in any project or coin without research, and do not hesitate to ask for help, particularly in financial assets.
The next objective is simple: as cycles are coming, we should remain sane, set targets for seeking the right assets, and act when such opportunities exist.