Bitcoin

3 cryptocurrencies to consider

Published

8 months ago

8 June, 2024

While Bitcoin Without a doubt remains one of the best cryptocurrencies to buy and hold for the long term, it’s hard to ignore the fact that the oldest name in crypto hasn’t done much recently. Bitcoin has been trading sideways for the past two months and isn’t showing many signs of going into beast mode anytime soon.

With that in mind, it may be time to forget about Bitcoin for a while and find other cryptocurrencies that have strong catalysts in place right now. The three cryptocurrencies that are on my radar right now are Ethereum (CRYPTO: ETH), Search.ai (CRYPTO: FET), and Chain link (CRYPTO: LINK).

Ethereum

The obvious non-Bitcoin choice right now is Ethereum, and this has everything to do with the recent pre-approval of new Spot Ethereum ETFs. Once these ETFs begin trading, perhaps as early as this summer, they could lead to a massive influx of money from new investors into Ethereum, which could increase its price in the near future. The current thinking of JPMorgan Chase is that these ETFs could receive an inflow of US$3 billion in 2024.

We saw the same pattern with Bitcoin as soon as the new spot Bitcoin ETFs started negotiating. Massive new inflows saw Bitcoin reach a new all-time high of $73,750 in March before settling into its current trading range. So could we see the same thing with Ethereum, which is just 22% below its all-time high of $4,891? Ethereum super-bulls are already projecting that the ETF investment narrative could be enough to push this crypto past $5,000.

Search.ai

If we really want to forget about Bitcoin, then we need to find a cryptographic alternative with truly stratospheric advantages. That alternative is Fetch.ai, which is currently one of the most popular AI crypto tokens in the world. Year to date, Fetch.ai is up an impressive 195%, and the upward trajectory could continue as long as investors are interested in all things AI.

The word AI in a box floating over data chips.

Image source: Getty Images.

What makes Fetch.ai particularly interesting now is that it is becoming part of a new “AI super alliance” with two other popular AI crypto tokens: SingularityNET (CRYPTO: AGIX) and Ocean Protocol (CRYPTO: OCEAN). From June 11th, Fetch.ai will be rebranded as an Artificial Super Intelligence (ASI) token, and FET tokens will be converted into new ASI tokens at a 1:1 ratio.

From my perspective, the creation of a new “supertoken” makes the task of investing in AI crypto tokens much more attractive because you are essentially getting three tokens for the price of one. Fetch.ai will become an integrated AI cryptographic token that combines the resources and intellectual property of three distinct AI projects. If you combine the market caps of these three tokens now, that would give you a value of almost $3.5 billion, good enough to rank in the top 30 cryptocurrencies in terms of market cap.

The story continues

Chain link

Finally, there is Chainlink. Longtime crypto investors likely remember this so-called oracle coin from the previous crypto bull market cycle when its value totally exploded. At that time, the investment thesis was about decentralized finance (DeFi) and how Chainlink was becoming an integral part of this new and exciting blockchain niche.

Fast forward to 2024, Chainlink’s new investment thesis is all about tokenizing real-world assets. Often referred to simply as RWA tokenization, it describes the process of transforming real-world assets (like stocks and bonds) into digital assets that can be traded on a blockchain.

RWA tokenization is one of the hottest topics on Wall Street right now and one of the favorite projects of Black stone, the largest asset manager in the world. In the opinion of BlackRock CEO Larry Fink, the tokenization of real-world assets could be the next big step after the introduction of spot Bitcoin ETFs.

Therefore, it is definitely worth trying to understand how this powerful new trend could revolutionize Wall Street. According to a growing number of experts, Chainlink could play a very important role in the development of this trend. For example, its new CCIP (Cross-Chain Interoperability Protocol) platform was specifically designed with the transfer of tokenized assets between blockchains in mind. In September 2023, a test case involving ANZ Bank in Australia showed how this could be done using stablecoins.

Is it really possible to forget Bitcoin?

So there you have it: three big trends and three cryptocurrencies that could be well positioned to benefit from these trends. While it’s nearly impossible to forget about Bitcoin (which should be part of your crypto portfolio if it isn’t already), these three cryptocurrencies will likely have much stronger tailwinds in the second half of 2024. Adding a slight pinch of these Cryptocurrencies to your overall portfolio could be the key to boosting your returns for the year.

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JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Dominic Basulto has positions in Bitcoin, Ethereum and Fetch. The Motley Fool has positions and recommends Bitcoin, Chainlink, Ethereum, Fetch, and JPMorgan Chase. The motley fool has a disclosure policy.

Forget Bitcoin: Three Cryptocurrencies to Consider was originally published by The Motley Fool

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Related Topics:Bitcoin chain link ethereum

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We are the editorial team of SatoshiTimes, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on SatoshiTimes, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Bitcoin

What to watch for in the markets

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Photo: Andrew Harnik (Getty Images)

After witnessing one of the largest global IT outages on record, affecting the travel, finance and healthcare sectors worldwideThis week is set to see more political drama, events, and earnings reports from tech giants.

Donald Trump’s ‘Lovefest’ Sets Jamie Dimon Up for Consideration for Treasury Secretary Job

Let’s take a look at what awaits us:

Major companies will release their earnings reports

Major tech companies and others will release their earnings reports this week, paving the way for what the second half of 2024 will look like.

Monday

Verizon will report earnings before the start of operations.

Tuesday

Coca-Cola, Comcast and UPS are all set to report earnings before the market opens.
Tesla will report earnings in the morning, while General Motors will report earnings in the evening.
Alphabet and Visa will report results after the market closes.

Wednesday

AT&T will release its report before the market opens.
Ford and Chipotle will report earnings after the market closes.

Thursday

Earnings reports from AstraZeneca, American Airlines and Southwest Airlines will be released before the market opens.

Trump to speak at Bitcoin conference

Presumptive Republican presidential nominee Donald Trump will speak at the next Bitcoin Conference in Nashville, Tennesseewhich is scheduled for July 25-27. While this is the first time a presidential candidate will attend the conference, it has sparked a debate over whether the crypto-friendly Trump will receive support from the crypto community in the upcoming election.

In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also discuss crypto during the conference. Crypto advocates such as ARK Investment’s Cathie Wood, MicroStrategy’s Michael Saylor, and whistleblower Edward Snowden are among some prominent names who will be participating in the conference.

Ether ETFs are on the way

New Ether Spot ETFs are set to begin trading on Tuesday, July 23. Much like the spot Bitcoin ETFs, these ETFs will allow investors to buy the second most popular cryptocurrency like stocks. BlackRock, Ark Invest/21Shares, VanEck, Grayscale, Fidelity, Bitwise, Franklin Templeton, and Invesco/Galaxy Digital are all set to offer Ether ETFs. Crypto asset manager Bitwise predict that trading in the Ether ETF will drive the price of Ether higher, potentially surpassing $5,000.

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Bitcoin

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Cryptocurrency’s Biggest Winners and Losers in a Second Trump Presidency

Bitcoin miners and cryptocurrency companies that have been blocked from going public in the U.S. could ultimately be the biggest winners in the digital asset world under a second Donald Trump presidency. Foreign companies at risk of losing market share could end up being the biggest losers.

That’s the view that’s taking hold among market participants and observers in the wake of the former president’s growing embrace of cryptocurrency as his chances of election grow. survey released Thursday by CBS News showed Trump with the majority — 52 percent — of likely voters in his likely November rematch with President Joe Biden.

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Bitcoin

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Bitcoin, Ethereum, Solana and Cryptocurrency Markets Look Ready to ‘Send’ as Stars Align, According to Investor Chris Burniske

Cryptocurrency investor Chris Burniske says Bitcoin (BTC), Ethereum (ETH), Solana (SUN) and the cryptocurrency market in general seem poised for a run.

Former Head of Cryptocurrency at ARK Invest account his 292,200 followers on social media platform X that several catalysts are aligning, suggesting that digital asset markets are on the verge of a bull run.

According to Burniske, a partner at venture capital firm Placeholder, the highly anticipated launch of Ethereum-based exchange-traded funds (ETFs), Republican presidential candidate Donald Trump speaking at an upcoming Bitcoin event, and the current state of the BTC, ETH, and SOL charts all suggest significant optimism for the cryptocurrency markets.

“With ETH ETFs set to go live, Trump speaking at The Bitcoin Conference, and BTC, ETH, and SOL charts looking [they do] (while stocks are weak), it’s hard to imagine a world where we don’t ship next week.”

Reuters recently reported that preliminary approval for ETH ETFs has been granted as the Bitcoin Conference is scheduled to take place from July 25-27.

BTC, ETH, and SOL are trading at $67,333, $3,528, and $174 at the time of writing, respectively.

The venture capitalist too provides an update on his prediction that the total crypto market cap will eventually hit $10 trillion. According to his chart, the path to $10 trillion is currently “23%” complete, as it sits around $2.2 trillion.

Source: Chris BurniskeX

Earlier this month, Burniske he said in an interview with Real Vision CEO Raoul Paul that he has his eye on the Move ecosystem, which was originally built by social media giant Meta and then used to develop layer 1 blockchains Sui (IUE) and Apts (APT).

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Bitcoin

Here’s the next target for BTC before bulls can hold out for $70K

Published

6 months ago

21 July, 2024

SatoshiTimes Staff

Here’s the next target for BTC before bulls can hold out for $70K

Bitcoin’s recovery is going well, and the market is seemingly poised to create a new all-time high in the near term.

Technical analysis

Per NegotiationRage

The daily chart

As the daily chart shows, the price of Bitcoin has been rising since it broke above the 200-day moving average.

The market has also reclaimed the $60K and $65K levels and is moving towards the $68K resistance zone, which could be the last hurdle before creating a new all-time high. With the RSI also indicating that the price has clear bullish momentum, it could be just a matter of time.

Source: TradingView

The 4-hour chart

Looking at the 4-hour chart, it is evident that the price has been rising rapidly since breaking the downtrend line to the upside. The market also broke the $65K resistance level with momentum, turning it into a support.

While almost everything points to a new record high in the coming weeks, there is one worrying sign. The RSI is showing a clear bearish divergence between recent price highs, which could indicate a correction or even a reversal in the near term.

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Cryptocurrency Charts by TradingView.

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