The cryptocurrency market has seen a resurgence, driven by prospects of a US-regulated spot Bitcoin ETF. As 2023 draws to a close, investors are eyeing 2024 with optimism, considering three standout cryptocurrencies highlighted by Finbold.
Bitcoin (BTC): Bitcoin, known for its liquidity and market influence, anticipates a favorable 2024. The awaited SEC approval for a Bitcoin ETF and the upcoming halving in April present promising catalysts for its value. Despite a recent 3.9% drop to $42,213, Bitcoin has surged over 13.6% in a month and 154% year-to-date.
Ethereum (ETH): Ethereum broke the $2,000 barrier in the recent bull run, asserting its prominence among altcoins. Expected ETF approvals, similar to Bitcoin, could significantly boost demand for Ethereum. Its current price stands at $2,243, marking a 4.32% decline for the day but a 9.2% rise in the month and an 87% increase since the start of 2023.
Chainlink (LINK): Chainlink introduced staking features reducing available LINK supply, potentially relieving bearish pressures. Despite a 6.32% decline in the past 24 hours to $14.98, LINK’s year-to-date surge remains robust at 170%, despite a slight 1.1% dip in the month.
While these cryptocurrencies show promise for 2024, their performance depends on multiple unpredictable factors. Investors should conduct thorough research and stay updated to navigate this dynamic landscape smartly.
