The cyclical nature of the crypto market allows investors to plan their profits. Many people consider Bitcoin (BTC) halvings to be the main driver of price growth in the crypto industry. The next halving will occur in the spring of 2024. Which cryptocurrencies could potentially help investors make money during the Bitcoin halving? Experts shared their opinions.
Why is the crypto market growing?
Movements in the digital asset market are cyclical. Each cycle, consisting of a growth phase followed by correction and lateral movement, lasts approximately four years. This is because halvings occur in the Bitcoin (BTC) network, the leading cryptocurrency, every 210,000 blocks, or approximately every four years. This term means block rewards are halved.
There have already been three halvings in Bitcoin history: in 2012, 2016 and 2020. cryptokoin.comAs you follow from , the next halving will happen in the spring of 2024. Bitcoin responded to all three halvings with growth. It also updated its all-time high (ATH) about a year and a half after the event.
The cryptocurrency then entered a correction. Then he turned sideways. Then BTC waited for a new drop in mining speed and a repeat of the cycle. Bitcoin is the leader among cryptocurrencies. That’s why most other cryptocurrencies follow its movements. Therefore, during the period when BTC updated the ATH, many other coins also set a new maximum price. The 2024 Bitcoin halving is on the horizon. Many altcoins are seeing massive gains faster than Bitcoin. Hence, the problem of choice arises.
Which cryptocurrencies make sense to buy?
StormGain cryptocurrency exchange expert Dmitry Noskov shared his views on this issue. According to Noskov, investors should first buy Bitcoin. Noskov also highlights XRP among cryptocurrencies. According to him, positive news regarding the resolution of the conflict between the cryptocurrency issuer Ripple and the US Securities and Exchange Commission (SEC) could set a good trajectory for the growth of its rate.
Bitget general manager Gracie Chen also says that investors should pay attention to Bitcoin first. Chen also has positive expectations for cryptocurrencies offering Layer 2 (L2) Blockchain solutions. These are add-ons on the main Blockchain that help reduce transaction costs and speed up transaction times. Among the leading ones are altcoins such as Polygon, Arbitrum, Optimism, dYdX, Immutable X. According to him, with the development of the crypto market, the need for Layer-2 solutions will increase. This will push the tokens of such projects upwards. Anton Nozdravchev, co-founder of 1ex Trading Board, also joins the discussion. Nozdravchev prefers top cryptocurrencies such as Bitcoin and Ethereum (ETH).
These cryptocurrencies stand out, but…
In summary, industry representatives believe that investors should buy Bitcoin first. In second place are popular cryptocurrencies such as Ethereum and XRP. It is also worth paying attention to Layer-2 solution tokens. The popularity of the technology may push up the price of such coins.
However, investors should always do their own research before making any investment decisions. Since cryptocurrencies are highly volatile, it is necessary to take risks into consideration. That’s why we recommend that you do your own research before investing.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!