The cryptocurrency world is a very dynamic and almost unpredictable space. Frequent and drastic shifts in sentiment and trends make it extremely difficult to understand, especially for newcomers and curious users.
However, despite its complexity and multifaceted nature, the crypto world remains very attractive to many investors due to its numerous unique opportunities, primarily the potential for additional (and sometimes even significant) income. To be a successful trader and enter the market at the right time, it is enough to predict trends and understand which cryptocurrency will rise in the near future.
If you feel lost and do not quite understand how things work in this marvelous space, and you do not know which assets to pay close attention to, please do not panic. We have organized all the key information for you that will undoubtedly be useful and help you understand the forecasts and expected trends in the crypto world for this year and probably the coming years.
However, let's be honest: no one has the gift of predicting the future of cryptocurrencies. But it is quite possible to roughly foresee the next trend. It is not necessary to have a special gift, but it is enough to be able to analyze market signs and take into account certain important features.
In our article, you will find all the necessary information to successfully navigate the crypto world and get the maximum profit from it. We will tell you which cryptocurrency will rise, what a bullish trend is, what features of the surrounding reality contribute to the emergence of bullish sentiments in the market, and highlight the five most promising cryptocurrencies in 2024.
What is Bullish Trend?
A bullish trend in the crypto market is a period characterized by a steady rise in the prices of most crypto assets, accompanied by general optimism among market participants.
In traditional financial markets, a bullish trend is marked by major indices (such as the S&P 500) rising by about 20% on the charts, which is quite significant.
The crypto sphere is known for its capriciousness and extremely high volatility, so price swings of about 20% can occur not only over a day but even in just a few hours. Thus, bullish phases in the crypto world are faster and much more vivid, with lightning-fast price surges in very short periods of time. This can be compared to a sudden storm hitting a quiet harbor. Such capricious behavior is not typical for traditional markets.
A bullish-to-bearish trend shift (and vice versa) is a common occurrence in the crypto market. For example, the crypto world experienced major bullish runs in 2013, 2017, and 2021.
Which cryptocurrency will rise and when? Looking at Bitcoin's steep rise from the $16,000 low, one might assume that it is on the verge of another bullish cycle. But does this mean that cryptocurrencies will extend gains? Past trends may not repeat themselves.
However, there are several important factors that cannot be ignored, as they may indicate a possible continuation of the current bullish trend. Let's figure them out.
Signs of Bullish Trend
Fed’s interest rate cut
An interest rate cut in the United States may prompt investors to shift their focus to riskier assets, especially cryptocurrencies. Simply put, when interest rates are lowered in the world's largest economy, most traders feel relieved and are inclined to invest in something riskier and therefore more profitable.
With US inflation easing to the desired level, there is talk that the Federal Reserve may finally decide to lower interest rates in the country. The Fed remains under pressure as everyone expects the long-awaited rate cut to support US economic growth.
A recent statement by Fed Chairman Jerome Powell about the high likelihood of a rate cut has triggered a noticeable influx of funds into securities (mainly stocks) and cryptocurrencies. If this trend continues, a bullish run in the crypto market is imminent. Many cryptocurrency traders will rush to buy crypto assets en masse to secure advantageous positions before others.
Institutional and retail interest in cryptocurrency
Previously, institutional and retail investor interest in crypto assets was minimal, with the crypto market seen as secondary and not primary. Today, things are different: traders from the traditional financial sector are actively interested in the crypto world and are quite willing to invest in it.
Major investment firms, various hedge funds, and even traditional banks have developed a strong affinity for this volatile world of digital assets. This interest may be attributed to the approval of the spot Bitcoin ETF, which provides large funds and retail traders with direct access to previously hard-to-reach digital assets.
The influx of institutional capital can significantly alter the movement of market prices, potentially prolonging a bullish trend.
Historical Crypto Market Performance
It is worth recalling 2017 when initial coin offerings (ICOs) caused a real stir in the global market. Equally noteworthy was 2020, when decentralized finance (DeFi) took off. And the recent 2021 saw a real boom in non-fungible tokens (NFTs).
These periods indicate the continuous and, most importantly, cyclical development of the cryptocurrency market, which never ceases to seek and inevitably find new avenues for growth.
While past performance does not guarantee similar results in the future, studying historical cycles can provide insight into potential trends and even suggest which cryptocurrency will gain value.
Features of Upcoming Bullish Trend
Bitcoin remains the undisputed flagship of the entire cryptocurrency market, but traders are already contemplating what news will spur the market to a steep rally. Let’s explore the most intriguing areas with significant potential for the upcoming bull market – from artificial intelligence to Layer 2 solutions.
Artificial Intelligence in Cryptocurrency
Artificial intelligence is rapidly transforming many industries. For the crypto world, its integration with blockchain technology could open new horizons.
Imagine a world where AI algorithms analyze vast amounts of data, optimizing trading strategies and identifying undervalued assets. Such prospects are possible thanks to the integration of AI with blockchain.
What else might emerge?
- Enhanced security
AI algorithms can be likened to vigilant guards constantly monitoring transaction data on the blockchain without making any miscalculations. They identify anomalous patterns that could indicate potential fraudulent activity. This means that AI can enhance security and trust in the network.
- Improved smart contracts
AI can significantly improve and optimize smart contracts on the blockchain. It can analyze all past data and contract behavior, identify vulnerabilities, and eliminate them.
- Improved scalability
AI examines network usage patterns and optimizes resource distribution, eliminating bottlenecks in data processing. This helps solve scalability issues faced by many blockchain platforms.
- Data management
AI is better at analyzing large amounts of data, which is extremely useful for blockchains that store huge sets of information. AI can develop new methods to ensure data privacy, allowing for secure data exchange within networks.
- Automation and efficiency
AI can automate processes in decentralized applications (DApps), verify data, and trigger actions based on specific conditions set in smart contracts.
Some AI-related cryptocurrency projects are still in their early development stages, with implementation yet to occur. However, despite their nascent state, the revolutionary potential of such solutions is evident.
Adding new applications of AI to blockchain networks could spark another wave of investor interest in the crypto market, potentially leading the entire crypto space into a new bullish trend.
Decentralized Physical Infrastructure Networks
For many novice crypto traders, decentralized physical infrastructure networks (DePIN) are the main reason for potential mass adoption.
Consider, for instance, how the world faced a shortage of graphics processing units (GPUs) during the pandemic due to widespread lockdowns (production halted in countries where mass production was previously established), hindering the operations of major companies such as Nvidia and AMD. This global issue led to centralized GPU usage, as scalpers and large organizations acquired all the essential components.
As demand for GPUs for AI processing increases, this situation may reoccur: GPU prices could skyrocket due to limited supply and excessively high demand.
Decentralized physical infrastructure networks (DePIN) could be almost the only solution to this problem, offering the world a decentralized network of GPUs.
Retail investors could finally contribute their available computing power in exchange for cryptocurrency. This development would reduce the burden on manufacturers and make powerful computing resources accessible to anyone who needs them.
As the DePIN industry grows, it is expected to cover a broader range of physical infrastructure, leading to a more equitable and sustainable digital ecosystem.
Such a shift towards decentralized infrastructure could trigger the next bullish trend. Obviously, a more reliable and inclusive foundation for the entire crypto space will attract more users and bring us closer to the point where widespread cryptocurrency adoption becomes a logical and even inevitable solution.
Decentralized exchanges: success and token prices
Centralized exchanges (CEX) have always dominated the cryptocurrency market, thanks to their user-friendly interfaces and round-the-clock customer support – just like platforms in the traditional financial sector.
However, decentralized exchanges (DEX) are increasingly gaining popularity. Platforms like OKX DEX offer users a unique approach to trading that differs significantly from CEX.
DEXs use order books or automated market makers on their platforms, offering clients more control, ensuring security, and introducing a new revenue-sharing principle that can lead to the growth of DEX tokens.
Unlike CEXs, which charge users trading fees and distribute them at their discretion, DEXs often use a fundamentally different model where users provide liquidity. Clients place their crypto assets for trading and receive direct rewards in the form of a share of the trading fees.
By incentivizing users to provide liquidity, DEXs create mutually beneficial scenarios: liquidity providers can earn passive income in the form of rewards, while the DEX benefits from a deeper pool of available assets. A deep liquidity pool undoubtedly creates a more dynamic and stable trading environment for all its clients.
Although this model is already widely used by many DEXs, leading crypto market players such as Uniswap have not yet fully implemented it. Nevertheless, with recent proposals in this regard, DEXs could spark another surge of interest in crypto assets.
Layer 2
As blockchain technologies become more widespread, their scalability limitations are becoming more apparent. Projects face challenges in ensuring scalability, decentralization, and a high level of security, all simultaneously. Scalability issues manifest themselves in slow transaction processing during peak hours and excessively high gas fees. These nuances can deter traders who are eager to enter the market but have small amounts in their trading accounts. Layer 2 solutions can address these unpleasant issues.
Layer 2 allows transactions to be processed off the main blockchain, freeing up its resources while ensuring security. Layer 2 makes transactions faster and cheaper, thus more accessible to a broader range of users.
All Layer 2 developments offer unique scaling principles. Notable examples of such solutions include the popular Optimism, Immutable X, and Polygon. Each of these solutions applies its methods to address scalability issues. For instance, Optimism uses optimistic rollups, while Polygon uses zero-knowledge rollups.
With continuous development and constant improvement, the upcoming bullish trend could see a sharp increase in the number of trades and the total locked value in the Layer 2 segment. These solutions aim to bring the moment of mass blockchain adoption closer so that throughput is no longer a limitation.
Meme coins
Which cryptocurrency will rise? It is possible that meme coins – a truly unique phenomenon in the world of cryptocurrencies – could be the answer. These humorous cryptocurrencies often originate from internet jokes, viral trends, and even widely recognized cultural references.
Although some meme coins have achieved great popularity and genuine success, they are still considered the most speculative assets due to their lack of fundamental characteristics. Investing in them is usually not advisable, or should only be done with full awareness of their high volatility.
Meme coins have come a long way – from giants like Dogecoin and Shiba Inu to relatively new projects like Dogewithhat and Memecoin. Despite their dubious origins (after all, they are essentially internet jokes), they could be part of the next bull market, attracting more and more traders.
For those seeking adventure and willing to take risks for profit, these cryptocurrencies can become part of an investment portfolio (but remember diversification). However, it is crucial to remember that meme coins are inherently associated with an extremely high level of risk.
Top 5 Promising Cryptocurrencies in 2024
To understand which cryptocurrencies will grow in 2024, experts analyze market trading volumes, monitor coin listings, study charts closely, and actively use various technical indicators. Below, we list the cryptocurrencies that, in our opinion, deserve your attention and possibly your investment, as they are likely to post strong gains in the near future. We will also highlight what to look for when choosing promising coins.
Bitcoin
Which cryptocurrency will grow? Of course, Bitcoin. It almost always tops the list of the most promising cryptocurrencies. Why? Just look at its performance:
| Period | Minimum Price ($) | Maximum Price ($) |
| Nov 2012 - Jul 2016 | 12.4 (Dec 2012) | 1,170 (Nov 2013) |
| Jul 2016 - May 2020 | 535 (Aug 2016) | 19,400 (Dec 2017) |
| May 2020 - Apr 2024 | 8,590 (May 2020) | 69,000 (Nov 2021) |
Its current price is shocking, but there is still potential to profit from investing in it.
Solana
Solana is attractive because it has not dropped below $80 since January 2024. Daily trading volumes have reached a significant $6.12 million since the beginning of the year. The bullish trend for SOL remains intact.
If traders can watch the market, they can profit from the rising token price. SOL is climbing on the charts and meme coin prices on the Solana blockchain are also on the rise. For example, in March, the SMOG meme coin surged by 202%. The market capitalization of the Solana-based SLERF meme coin increased to $612 million in just 24 hours of trading.
Arbitrum
Arbitrum, developed by the Offchain Labs team, aims to reduce the load on the Ethereum network, lower transaction fees, and increase transaction speed. Since 2021, this technology has proven its security and, most importantly, its independence from regulatory bodies.
Arbitrum's market capitalization is currently $4.5 billion. The coin typically posts modest but steady gains. In March 2024, however, a significant transaction fee reduction (by 10 times!) sparked even more interest in Arbitrum from crypto traders.
XRP
Which cryptocurrency will grow? Don't overlook XRP, the token of Ripple. It was created for payments and was expected to outperform the SWIFT system in terms of security, transaction speed, and fee accessibility. This made XRP extremely popular in its early days.
However, prolonged legal battles between Ripple and the SEC have gradually reduced interest in the cryptocurrency. In mid-March this year, there was a pump that raised the price of XRP to $0.7.
Experts predict further gains in the cryptocurrency. Derivatives markets show that speculative traders have increased bullish bets since March 10, 2024.
Toncoin
Toncoin is a creation of Pavel Durov (founder of the Telegram social network). On November 12, 2021, it appeared on the OKX and FTX exchanges as a successor to the failed cryptocurrency of Pavel and Nikolai Durov.
Durov aimed to develop a fully decentralized platform, Telegram Open Network (TON), capable of processing millions of transactions per second with minimal fees. Although he did not continue to develop the platform, the open-source nature of the project allowed other developers to take over, including Anatoly Makosov.
By February 2024, TON tokens traded at no more than $2.20, but it was clear that bullish investor sentiment would drive the asset's price up. Experts predicted that TON would hit the resistance level of $3 - $4.5, which it did.
Notably, the Open Network Foundation, the official developer of the TON network, plans to allocate 30 million TON tokens worth $115 million, further fueling traders' interest in the crypto asset.
BNB
BNB is a token issued by the popular Binance cryptocurrency exchange. Interestingly, it was launched via an ICO before the exchange itself opened.
Initially, the token operated on the Ethereum network. Now it runs on BNB chain protocols. Users pay transaction fees, sell coins on the Binance launchpad, and participate in pre-sales using BNB.
In late February 2024, an unexpected turnaround occurred after another BNB test. Analysts predicted that the token would soon surpass its all-time high. Traders did not have to wait for long. A record high was reached in March.
Analysts confidently claim that the achieved price level is not the limit. Some professional crypto traders and investors assume that BNB will soon cross the $600 mark.
Conclusion
The cryptocurrency market offers investors and traders the opportunity to quickly and significantly profit from selling digital assets, attracting many enthusiasts. They are not afraid of the dynamic and unpredictable nature of cryptocurrency prices.
If you can predict trends and determine which cryptocurrency will gain value in the near future, this sphere can multiply your capital or even bring significant wealth.
All the factors mentioned in this article indicate that we are on the verge of a bull market, with major crypto assets poised to rise.
If your short-term or long-term investments in tokens and coins are within reasonable limits, they may lead to significant profits shortly. However, please bear in mind that no one can guarantee that any cryptocurrency won't eventually drop to a critical low. Always invest wisely and only risk what you can afford to lose.
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