As the market prepares for the next bull market, cryptocurrency enthusiasts continue to look for the next cryptocurrency project capable of exponential growth. They look for ways to maximize their returns by investing in the right sectors and profitable coins.
This report from Coinpedia compiles all the ways you can 100x your profits in the coming bull market. Let’s find out more!
What is Bull Run?
A bull market or bull run is a period when the majority of investors are buying, prices are rising, and demand exceeds supply. At this stage, market confidence is very high and prices rise quickly. If such a scenario were to occur, it would indicate that most investors are becoming optimistic or “bullish” about further price increases.
It marks the beginning of a bull market! Predicting bull markets plays a very important role. Investors and analysts are eagerly awaiting signs of a market revival and are eager for the next bull market.
2024 is expected to be the year for the next bull run due to events such as the Bitcoin halving. One of the key indicators of a potential bull market is the Bitcoin halving, which occurs approximately every four years. In addition to this, the Ethereum 2.0 upgrade promises to significantly improve the scalability, security, and efficiency of the project, attracting more stakeholders and enhancing the cryptocurrency market.
Experts predict the next bull market could be the biggest on record. We are here to guide you through the same so that you can get maximum benefit from it.
Why will the next cryptocurrency bull market occur in 2024?
Experts predict that 2024 will be the biggest bull market of all time! There may be several reasons:
Key indicators of the 2024 bull market are influenced by the king of cryptocurrencies! The Bitcoin halving event is scheduled for April 2024, raising expectations among investors and enthusiasts. This scenario occurs every four years and coincides with a distinct bullish period in the cryptocurrency industry. This reduces the number of newly minted Bitcoins, fueling a surge in demand.
The Ethereum 2.0 upgrade is just around the corner, with improvements such as better scalability, security, and energy efficiency. Improvements such as the Shanghai upgrade and proto-dank sharding will attract more investors. This will probably increase demand in the cryptocurrency sector.
The trajectory of macroeconomic conditions, especially global liquidity conditions, already suggests favorable cryptocurrency market conditions. With the emergence of spot ETFs, the cryptocurrency sector will benefit from increased mainstream adoption. Due to technological advancements, investor participation is also increasing. It may also absorb more cryptocurrency enthusiasts.
The evolving cryptocurrency market in 2024 offers us a variety of scenarios. This cycle could push Bitcoin price past all-time highs. Market corrections may also result in lower prices. Market leadership could be redefined by many development projects in the spotlight, such as Solana’s advancement of DeFi protocols. With these trends, we can always expect a bull market in 2024!
- Bitcoin Halving and the Confluence of Ethereum 2.0
The perfect combination of the Bitcoin halving event and the Ethereum 2.0 upgrade lays a strong foundation for the upcoming bull market.
In the cryptocurrency environment, the infrastructure has developed significantly and the ecosystem has become more powerful. Maturity will allow dApps to attract users interested in their utility. The evolution of the space will fuel the growth of the cryptocurrency space, leading to a bull market in 2024.
According to the report, many small countries and underprivileged regions have begun to adopt cryptocurrencies. The convergence of AI and cryptocurrency is creating innovative solutions that are captivating more and more users. It is expected to grow even further in 2024!
best strategy To maximize your profits in this bull market:
The last bull market began in the late 2020s and ended with Bitcoin price reaching $69,000! Four-year cycle theory suggests the next bull market in 2024. We’ve put together a few strategies that could generate 100x returns in the next bull market.
- educate yourself
Take some time to read various projects and white papers about upcoming tokens. Thoroughly manage the cryptocurrency and blockchain markets. For example, Liquid Staking (LSD) was the biggest star of DeFi in 2023. LSDFi has been predicted by many experts to be the next big star! Educating yourself will help you make better informed decisions, identify future catalysts, and equip you with better navigation skills in quiet bull markets!
- Stay informed
Stay informed about what’s happening around you! Everything from LSD, real assets, meme coins, regulations, and more! Before sowing, you need basic information such as the soil properties and amount of water the plant needs. Similarly, to withstand the upward pressure, you need to update every time there is a minor update. Target the market! Get started now!
- Investment Purpose
Are you looking for a short-term change or a long-term opportunity? You must have a good understanding of your investment purpose and pool accordingly. Setting clear goals helps us know what our main goals are and prevents us from being swayed by market hype. It helps you stay focused!
- Don’t invest more than you can afford to lose
Never go overboard in the heat of the moment! Since risks are high in the cryptocurrency sector, it is advisable to make smart decisions instead of letting your emotions influence you due to bull market turmoil.
- dior
Always do your own research before investing! Dive deeper into technical analysis, including trends, charts, and white papers. Manage your emotions and only put your efforts where they deserve. There will be many who claim to be the best. Proper research is needed to determine the pros and cons of a project!
- Altcoins to consider ahead of the next bull market:
- Ethereum: We all know that ETH is the second largest cryptocurrency by market capitalization. It is a key player in smart contracts and Web 3.0. Ethereum is believed to surpass Bitcoin in the next bull market! The Bitcoin halving event in April 2024 is the only solid news for the cryptocurrency market to expect strength from. With this in mind, we expect ETH to follow Bitcoin and post a new ATH of $6,500. 2024. However, if the global economic outlook looks unstable in 2024, ETH may struggle to reach ATH, resulting in an average ETH price of $4,500 in 2024. If global economic conditions take a downturn in 2024, we could see ETH struggling to regain its previous highs, so the low for ETH in 2024 is expected to be $1,800.
- Cardano: ADA has been one of the best performing cryptocurrencies on the market. It soared 165.13% in 2023 and 677.65% since its founding. Cryptocurrency enthusiasts are very optimistic that Cardano’s potential growth will increase by 6000% in the upcoming bull market.
- Dogecoin: Dogecoin, a humorous meme cryptocurrency, has quickly become a notable digital asset with a loyal community. DOGE has seen remarkable growth despite its meme-related origins. In 2023, Dogecoin recorded a rise of 34.71%, reflecting continued interest and investment in the coin. Dogecoin has achieved an incredible all-time value increase of 627.40% over the entire period, and has soared a whopping 4,916.03% over the past five years. We expect the 2024 bull market to be very profitable.
- Ripple: XRP is a fast and efficient solution for cross-border transactions, providing a low-cost alternative to mainstream methods. The company recently won a legal battle with the U.S. Securities and Exchange Commission (SEC), restoring investor trust. XRP is all set to rule again, betting on the token during the next bull market. With a cryptocurrency bull market in mind and a positive lawsuit outcome against Ripple, we expect the price of XRP to rise. Therefore, experts’ XRP price predictions predict a price of $1.80 by the end of 2024. Depending on the outcome of the lawsuit and the state of the cryptocurrency market, the price could rise much higher, potentially reaching $3.10.
- Sectors to Choose for the Next Bull Market
We are betting on the following top 3 sectors for the 2024 bull market:
- Layer 2 scaling solution
After struggling in 2023, layer 2 solutions are expected to rebound in 2024. Layer 2 solutions are expected to attract significant capital and user activity as upgrades such as Ethereum Cacun reduce costs and improve speed. This could spark bullishness as it provides a more scalable and efficient blockchain solution.
- Real Assets or RWA
RWA has seen a significant surge in capital in 2023, with its TVL soaring 700% in 2023. Protocols that facilitate RWA trading, such as Polytrade ($TRADE) and Clearpool Finance ($CPOOL), recorded 1038% and 277% YTD growth respectively. This trend could accelerate in the coming year as more assets go digital, making it attractive to institutions looking for innovative investment opportunities and sparking the next bull market!
Source: CoinMarketCap
- AI Coin
In 2023, AI coins have taken over the market well. The success of AI-based technologies has led to a surge in AI-based projects. There have been amazing performances from coins such as RNDR, AGIX, and OCEAN. In 2023, interest in AI coins has grown, with tokens like RNDR, AGIX, and OCEAN growing to impressive heights, recording 1050%, 646%, and 234% YTD growth respectively.
This enthusiasm, fueled by advances in AI and the performance of technology stocks like Nvidia, suggests a solid trajectory through 2024. Driven by innovations in machine learning and GPU technology, this AI craze sets the stage for 2024, and we will see these coins leading the way. The growing integration of AI and blockchain technology has the potential to revolutionize fields from finance to gaming.
- diversification
We always suggest not putting all your eggs in one basket. During bull markets, diversify your portfolio and be prepared to invest in different types of projects. Then, if one fails, the other can save you!
- Never work with emotions.
Emotional investing can be risky! When you see the market rising, don’t invest with impatience and emotion. Stop for a moment, analyze and invest! We understand that the peak of a bull market can influence you to invest just one more time. But never do that without applying analytical skills!
- Plan your exit strategy
Always plan your exit strategy! Rather than investing ruthlessly and endlessly, experts suggest getting out of the market once your commitments and goals are met. The market can decline at any time, so it is important to plan an exit strategy.
Coinpedia has put together the top 10 ways to efficiently profit 100x during the next bull market! Following these strategies could help you win big in the 2024 bull market!