The crypto winter, which has been making its impact felt since last year, is being resolved with the developments in the last week. Investors’ next goal is to hoard the best gems ahead of a potential cryptocurrency bull market. In this article, you can find 3 coins from analyst Farrooque’s list that have these expectations.
3 cryptocurrency jewels to follow in the next bull
Bitcoin (BTC)
In particular, large publicly traded companies like MicroStrategy and Tesla keep some of their reserves in Bitcoin as proof of its relative stability. Like other cryptocurrencies, Bitcoin experienced a significant drop of 64% in 2022. But this year he is in a much better position.
Towards the end of February, there was a roughly 40% increase in the BTC price to the beginning of the year. The positive trend in Bitcoin’s price continued throughout March after the government assured depositors at Silicon Valley Bank that they could get their funds back despite the bank’s collapse. The action of the federal government has increased confidence in the banking industry and cryptocurrencies.
These advances have significantly supported Bitcoin’s price, climbing from the low of $19,628 on March 10 to over $26,500 on March 14. At the time of writing, it maintains its strong momentum above $30,000.
Can Bitcoin go higher?
More positive moves are expected for Bitcoin going forward. The primary cause is inflation. Since last year, it has been a key issue putting pressure on the US economy. As a result, the Fed had to step in and try to find a solution. cryptocoin.com In this article, we have included the market’s reaction to the US March CPI data, which was released on April 12.
Ethereum (ETH)
Beyond being a store of value, Ethereum can be used for smart contracts, decentralized financial instruments, NFT trading, and Web 3.0 applications with inherent utility. It has also transitioned to a more energy efficient PoS system.
Moreover, Ethereum developers continue to release regular updates for a more efficient network. These upgrades regularly lead to token price jumps. Ethereum’s Shanghai upgrade was the latest in this long series of upgrades. We have included the details of the upgrade implemented last night in this article.
Additionally, Ethereum’s transition from a mining protocol to a more sustainable PoS system gives it an edge over BTC in an environmentally conscious world.
Like Bitcoin, Ethereum has been doing well since the beginning of the year. On the first day after the Shanghai upgrade, its earnings exceeded 5% and continue its momentum.
Avalanche (AVAX)
Avalanche is a Blockchain network with smart contract functionality, equipped with a variety of applications such as decentralized applications (dApps), NFTs and creating Blockchain games. While it is not the only Blockchain network with these capabilities, its developers have incorporated a few distinctive features that set it apart from the rest.
Avalanche’s sub-net feature allows users to create miniature Blockchains on its network, anticipating a future where individuals and commercial organizations will need Blockchains. With such real potential, AVAX could emerge as a long-term winner.
During the bear market of 2022, AVAX experienced a significant drop of 90%. However, like other tokens, there has been a minor rally since the beginning of the year.
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