Bitcoin

Prediction: Bitcoin Halving Will Cause These Cryptocurrencies to Soar

Published

8 months ago

29 May, 2024

Prediction: Bitcoin Halving Will Cause These Cryptocurrencies to Soar

From Layer 1 blockchain networks to AI cryptographic tokens, the value of these cryptocurrencies could skyrocket following the Bitcoin halving.

After the April halving, Bitcoin (Bitcoin -1.12%) has understandably been the center of attention for crypto investors. Bitcoin has historically rallied in the early stages of a halving cycle, and investors view the current period as a fantastic time to buy Bitcoin before it potentially goes parabolic.

But don’t forget altcoins. These also tend to work very well after any Bitcoin halved, as the rise in the price of Bitcoin tends to lift the entire crypto market. As they say, a rising tide lifts all boats. With that in mind, here’s a closer look at some cryptocurrencies that could skyrocket in value in 2024.

Layer 1 blockchain networks

As a starting point, consider Layer 1 blockchain networks. These include large market cap names such as Ethereum (ETH -2.19%), SolanaIt is Avalancheas well as a handful of smaller, nimbler competitors such as Apartments It is Sui. All of them are currently among the top 50 cryptocurrencies in terms of market capitalization, with Ethereum being the market leader with a whopping $460 billion valuation.

The reason these Layer 1 blockchains have a good chance of outperforming the market is that they are the building blocks of the blockchain economy. Think of any key blockchain niche – like decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, or the metaverse. All of this is built on top of Layer 1 blockchains. As a result, any crypto market rally could lift all of these segments simultaneously. The disruption could be tremendous given how battered some of these sectors were during the “crypto winter” of 2022.

While there are many options here, my personal preference is for just three of these Layer 1 blockchains: Ethereum, Solanaand Sui. Ethereum is the 800-pound gorilla in this space. Solana is a much-touted “Ethereum killer”. And Sui is the “Solana killer”. Therefore, you can invest in the market leader or an emerging rival. It’s your choice.

AI cryptographic tokens

Typically, the Bitcoin halving leads to what crypto investors call “altcoin season.” As investors seek higher returns, they begin to accept more risk. This is when small, little-known cryptocurrencies can explode out of nowhere and dramatically outperform Bitcoin.

Image source: Getty Images.

If you have a high appetite for risk, then you might consider AI crypto tokens. Simply put, these are highly leveraged cryptocurrencies for the current boom artificial intelligence. With that in mind, my top two picks here are Render (RNDR 3.13%) and Search.ai (FET 0.34%).

In the year, Render has already risen an impressive 120%. Rendering is particularly compelling because it’s part of a larger artificial intelligence trend known as “GPU Computing.” This refers to the immense computing power required for advanced AI projects. And that’s what Render offers. Users pay in the Render token for access to decentralized GPU computing power located around the world. And that computing power GPU, as you would expect, is typically powered by Nvidia. For this reason, Render has been called “the Nvidia of cryptography”.

Fetch.ai, up 230% this year, is another bet on the future of AI. Fetch.ai refers to itself as a “decentralized, open, permissionless machine learning network with a cryptographic economy.” In short, it’s a marketplace and platform where you can use the Fetch.ai token to pay for everything AI-related, from datasets to large language models (LLMs), as well as AI bots and agents.

From my perspective, Fetch.ai is particularly relevant for companies looking to advance their AI initiatives. Instead of starting from scratch, they can “search” all of their AI capabilities in one place. As a proof of concept, Fetch.ai recently partnered with Bosch It is Deutsche Telekom on a new AI platform for the industry.

Focus on the long term

As best as possible, investors should stay focused on the long term. If things go according to plan, the Bitcoin halving could usher in yet another round of growth for blockchain and crypto. Therefore, focus on cryptocurrencies built for the long term.

Since Layer 1 blockchain networks are the building blocks of the blockchain world, they arguably have the greatest long-term appeal. And if you think AI has a bright future ahead, then starting early with AI crypto tokens can pay off big later.

But remember: investing in any of these cryptocurrencies can be volatile and highly risky. Proceed with caution and always do your own due diligence.

Dominic Basulto has positions in Bitcoin, Ethereum, Fetch, SUI and Solana. The Motley Fool has positions and recommends Avalanche, Bitcoin, Ethereum, Fetch, Nvidia, Render Token, and Solana. The motley fool has a disclosure policy.

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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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