Will Crypto Recover in 2024? Expert Insights & Top Coins to Consider
The cryptocurrency industry has experienced drastic volatility recently, especially following the downturn in 2022. At the start of 2022, the crypto market cap was valued at $1.01 trillion. This was a huge drop from 2021’s $2.32 trillion. Although digital currencies gained momentum in 2023, many investors still wonder whether they will recover in the future.
Thankfully, experts are optimistic about their potential rebound. In this article, we’ll focus on the best cryptocurrencies to invest in 2024 moving forward and the investment strategies for these digital assets.
Key Points
Here are the main points we are going to focus on:
- With the rise of major events such as MATIC, POL upgrade, Cardanos Chang, and more, crypto will recover by the end of 2024.
- With more institutions and corporations accepting blockchain and cryptocurrencies, the market is expected to gain momentum in 2024.
- The frequent introduction of new cryptos in the market offers multiple business opportunities for investors and corporations. These trends provide early investment opportunities with the chance to gain significant returns.
- Governments are showing a growing acceptance of cryptos, which might create a legitimate and stable market beyond the year 2024.
Disclaimer
Please, know that this guide is not investment advice. Trading cryptocurrencies involves high risks. Therefore, you should research or seek advice from financial consultants before making investment decisions.
Crypto Forecast for 2024
As 2025 approaches, the volatility in the cryptocurrency market remains the same. However, many trends and other aspects indicate the possibility of a strong recovery. According to analysts and experts, a key factor expected to shape the year is the influence of worldwide developments on the crypto economy.
What’s more, the price action of established leading cryptos like Bitcoin and Ethereum and the emergence of promising altcoins may also play a part. While opportunities increase, investors must also know the risks, particularly speculative picks. Let’s examine these factors more closely.
Potential Impact of Global Events
Global events are expected to make a huge difference in 2024 regarding the cryptocurrency market performance. Major geopolitical changes, shifts in legal frameworks, and phases of the global economy will bear significantly. Usually, investors turn bullish when, for instance, inflation rates continue to fall, and central banks proceed with loosening monetary policies. This raises the demand for crypto coins. Alternatively, regulatory decisions in crucial markets like the U.S., Europe, and Asia could either increase or reduce market activities.
Another big factor is the adoption of global corporate and government-level blockchain technology. As its expands in industries like supply chain, health care, and logistics, it attracts a broader institutional base in digital assets. Both of these moves could bring greater stability to the crypto market with higher valuations throughout 2024.
Established Players: Bitcoin and Ethereum
Bitcoin and Ethereum have become the foundation of the cryptocurrency market. These two established crypto giants will continue to conquer the space in the years to come. Being highly recognized for its reserve of value and stability, Bitcoin is likely to draw green traders looking for a safe crypto investment for beginners.
On the other hand, Ethereum is under continuous development. With its smart contract characteristics, it already leads in NFTs and DeFi, which has set it well for further success. As more dApps and blockchain projects are built, the demand for Ethereum should continue to increase in 2024.
Furthermore, the United States and a few other countries are considering introducing central bank digital currencies (CBDCs) to compete with cryptocurrencies. This competition may help cryptos perform well and recover significantly in 2024.
High-Potential Altcoins: Exploring Options
While most of the attention tends to fall on Bitcoin and Ethereum, there are a few altcoins in 2024 that do have considerable potential. Coins like Cardano, Solana, and Polygon have built remarkable potential through their unique technologies.
Solana’s super-fast transaction processing and lower fees make it attractive for DeFi and NFT projects. Being sustainable and scalable, Cardano might also fuel crypto’s long-term growth, especially with the upcoming Chang Hard Fork Part 2.
Since Polygon is an Ethereum Layer-2 scaling technology, it’s expected to grow as demand for cheaper and faster transactions increases. These altcoins provide investors with the chance to diversify beyond Bitcoin and Ethereum.
Speculative Picks and Risks Involved
Undoubtedly, speculative coins offer greater returns to investors. However, they always come with huge risks. For example, Meme coins, newly launched tokens, and projects with limited track records often offer rapid gains that are highly volatile.
Cryptocurrencies such as Dogecoins or Shiba Inu are options that have enjoyed attention in recent years but are still speculative because of the lack of fundamental use cases. Investors who will be taking an interest in these forms of assets should be ready for wild price swings. Thus, before buying to these speculative coins, start with extensive research. How to do your own crypto research? Look for more information online and reach out to financial advisers.
Which Cryptos Can Surprise Us?
EarthMeta is one of the few cryptos that may deliver great returns, thanks to the metaverse and the integration of AI. Combined with its unique virtual ownership model, this crypto could surprise the world with rapid growth. Those who invested in EarthMeta early enough have already witnessed a considerable benefit, so our crypto prediction in 2024 is that this trend is likely to last.
Ethereum also continues to be a crypto to watch in 2024, particularly due to its ongoing network upgrades and growing adoption of decentralized finance and NFTs. Solana is also a great option due to its features, such as super-fast transaction speed.
Crypto Coins to Consider Buying
Before we get into more details about our crypto prediction for 2024, you can have a quick overview of the current price of each digital asset in the table below. As you’d imagine prices change constantly but it should give you a vague idea and a starting point.
| Cryptocurrency | Price as of Nov 2024 |
| Ethereum (ETH) | $3,144.64 |
| Litecoin (LTC) | $90.00 |
| Cosmos (ATOM) | $6.18 |
| Cardano (ADA) | $0.78 |
| Shiba Inu (SHIB) | $0.00002408 |
| Dogecoin (DOGE) | $0.38 |
| Polygon (MATIC) | $0.43 |
| BNB (BNB) | $612.76 |
| XRP (XRP) | $1.12 |
| Polkadot (DOT) | $5.71 |
| Tron (TRX) | $0.19 |
| Bitcoin (BTC) | $97,417.60 |
Source: CoinMarketCap. Accessed on November 21, 2024.
Ethereum
Should I invest in Ethereum in 2024? Being the second-largest cryptocurrency, Ethereum is well-known for its smart contracts functionality. This feature allows developers to build decentralized applications (dApps). Indeed, there is an ongoing transition to Ethereum 2.0. This aims to improve security, adaptability, and energy saving. The full completion is scheduled for 2024 but no specific date has been announced so far.
The current price for ETH is $3,144.64, which is a drop from the previous high in 2021, where the value was $4,878.26. However, our Ethereum price prediction for 2024 indicates that the coin may surpass its highest value in December 2024. The reason is that it’s already the backbone of NFTs which is a massively growing sector.
Litecoin
Also referred to as the silver to Bitcoin’s gold, Litecoin (LTC) was created in 2011 as a fork of Bitcoin. This coin had many modifications that aimed to improve efficiency and transaction speed. So, you might want to buy Litecoin in 2024 as many industries will be looking to use its technology in transaction processing rate. Usually, Litecoin’s block generation time is approximately 2.5 minutes, which is way faster than Bitcoin’s 10 minutes.
Atom
Native to the cryptocurrency Cosmos network, Atom is a digital asset worth considering in 2024. It was developed to solve one of the most critical challenges of the blockchain space: Interoperability. Therefore, its platform allows a variety of blockchains to interoperate well and to share information with ease. Thus, it’s critical in the future of the decentralized ecosystem.
Cardano
Best known for its scientific approach to blockchain technology, Cardano is a crypto worth buying in 2024. One of the reasons for purchasing it is the upcoming Chang Hard Fork, a two-part upgrade, which aims to improve the network’s functionality and decentralized authority. Chang 1 has already been active since September but Chang 2 is expected to launch this December or early 2025. There is no clear date yet but some of the major updates are:
- Delegate Representative (DRep) voting
- Stake Pool Operator (SPO) voting
- Governing actions
- Treasury Withdrawal system
Current ADA holders could potentially benefit from these upgrades as the value and interest in the coin will most probably continue to grow.
Shiba Inu
Launched in 2020, Shiba Inu started as a meme coin. Fortunately, it has grown into a massive project within its network, including a decentralized exchange called ShibaSwap. So, it’s one of the best cryptocurrencies to invest in in 2024 due to the large and active community driving its rising interest and usage.
Dogecoin
Sharing the same meme background as Shiba Inu, Dogecoin has grown into a popular crypto. The reason to invest in DOGE is its large and active community. It’s endorsed by top celebrities like Elon Musk which further pumps up its adoption.
So, is Dogecoin a good investment in 2024? Notably, the price of Dogecoin in 2017 was $0.0002; As of November 2024, it stands at $0.38. This indicates that Dogecoin has undergone noticeable growth, and the trend may even follow into 2025.
Polygon
The all-time high for the Polygon was $2.92 in 2021. According to experts, Polygon may surpass this previous high by 2030. Of course, several hurdles could affect its growth. For instance, this crypto may face competitors from newer layer two solutions such as Artitrum (ARB) and Optimism (OP). Despite the challenges, Polygon layer 2, as well as DeFi and NFTs, offers a clear foundation for future growth.
Binance Coin
BNB, or Binance Coin, has performed well over the years. When it was launched in 2017, the value was $0.15 per coin and currently stands at $612.76. In June 2024, it went as high as $720.670, surpassing the previous peak of $690 in May 2021.
Although BNB has lost value since its 2021 value, there is a possibility that it will reach another ATH in the future. If meme coins keep emerging and the best crypto wallets 2024 keep offering them, then there is still a big room for BNB to continue going up.
XRP, ADA, DOT, TRX
Undeniably, XRP, ADA, DOT, and TRX are a few of the best altcoins to invest in 2024. XRP has been revolutionizing cross-border payment by generally offering faster transactions. ADA has been focusing on adaptability and sustainability through Cardano’s blockchain. DOT enhances interoperability between a range of blockchains, and TRX empowers decentralized content sharing.
Bitcoin
Bitcoin remains to be one of the best cryptocurrencies to invest in 2024. This crypto is widely known as digital gold because of its decentralized nature and overall supply of 21 million coins. On November 20, 2024, the BTC price reached an all-time high of roughly $94,339. This was due to the approval of Bitcoin ETFs in the United States and Bitcoin Halving. Therefore our Bitcoin price prediction for 2024 is that it has a chance to surpass this value.
The Bottom Line
In summary, the cryptocurrency market in 2024 presents a perfect blend of opportunities. Of course, volatility is among the factors affecting the crypto market in 2024. Fortunately, the growth is evident as more institutions adopt the use of blockchain technologies. So whether you’re going for established currencies like Bitcoin or Ethereum or promising altcoins like ADA, DOT, or TRX, investing in any digital asset requires an informed approach and a clear strategy.
The Potential of Blockchain Technology
The future of blockchain technology remains bright as it’s still one of the drivers for growth in the crypto market. Its application in industries like supply chain management, health, and finance will further add value to cryptocurrencies. As more governments and institutions start using this technology, its wider use case can bring credibility and stability into the market not only in 2024 but beyond.
Investing Responsibly and Staying Informed
Considering the fact that cryptocurrency is a risky market to invest in, you have to be careful. Learning how to invest in cryptocurrency by staying on track with trends, legal changes, and technological innovations is important. You also need to diversify your portfolio to reduce the risks. Besides, research online to learn what experts think and their recommendations, as this will help make informed decisions.
A Market with Potential, But Proceed with Caution
Although the potential is huge, you should never forget that there are risks of cryptocurrency investment and everything is so unpredictable. So, always do your deep research, have a risk management strategy, and be prepared for anything in this cryptocurrency market.
FAQ
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