Let’s look at a few cryptocurrencies, explaining exactly why they should skyrocket in 2024.
1. Bitcoin (BTC)
- Bitcoin price has dropped below 34,000 USD or 50% since the peak in November, reported BBC News.
- Apartments in Portugal have been recently sold in Bitcoin after the country allows property deals in crypto.
- According to CNN Business, Gucci has announced that customers will be able to purchase Gucci products with Bitcoin starting at the end of May 2024.
Reasons Why You Should Buy Bitcoin
Bitcoin is indisputable and transparent. It enables curtailment-free payments, and it is fully secured and protected.
If you had invested US$1000 in BTC at the beginning of 2021, how much would it be worth in the face of 2022?
On January 1, 2021, Bitcoin was worth US$29,374.15. On January 11, 2022, it was worth US$41,589.99. This means that if you invested US$1000 on January 1, 2021, those US$1000 would now be worth US$1,415.9. Therefore, if you want to start accumulating Bitcoins, the best strategy to invest in Bitcoins is to buy the dip whenever the Fear and Greed Index is in extreme fear. That is the best time to purchase Bitcoin.
2. Ethereum (ETH)
- Vitalik Buterin has been trying to persuade Elon Musk to support his “non-intrusive” anti-COVID technology project.
- Instagram has announced its support of Ethereum NFTs, which will be showcased on the platform without any fee.
- Based on CoinGape’s prediction, the ETH price may continue to fall to 2,300 USD if the holders lose their support.
Reasons Why You Should Buy Eth
Bill Noble said that Ethereum is worth buying because it serves two purposes: it acts as money and can be a store of value. It is also a highway for decentralized finance.
If you had invested US$1000 in ETH at the beginning of 2021, how much would it be worth in the face of 2022?
On January 1, 2021, Ethereum was worth US$730.37. On January 11, 2022, it was worth US$3,111.74. This means that if you invested US$1000 on January 1, 2021, those US$1000 would now be worth US$4,260.5.
3. Solana (SOL)
- Apart from Ethereum, Instagram will also support Solana NFTs by allowing free Solana NFTs to be showcased on the platform.
- Solana’s co-founder mentioned in an interview with CNBC that the Bitcoin Proof-of-work model would affect Solana’s usage.
- According to fxstreet’s prediction, SOL price tends to continue dropping to 50 USD.
Reasons Why You Should Buy Solana
The main reasons for buying Solana, cited by U.S. News, are the high speed and low fees and its level of scalability. In addition, Solana is also used for non-fungible tokens (NFTs). Solana is the quickest blockchain network, as Solana can process as many as 50,000 transactions per second.
Ethereum can process 15 transactions per second, while Bitcoin can process seven transactions per second. Outside of crypto, Visa can process 1,700 transactions per second. If you had invested US$1000 in SOL at the beginning of 2021, how much would it be worth in the face of 2022?
On January 1, 2021, Solana was worth US$1.84. On January 11, 2022, it was worth US$136.46. This means that if you invested US$1000 on January 1, 2021, those US$1000 would now be worth US$74,163.
4. Polygon (MATIC)
- On May 5, Tilting Point announced its partnership with Polygon, aiming to develop the web3 gaming ecosystem.
- APE coin is recently supported by Polygon and is now available in MATIC’s DAPPs and games.
- Many Altcoins, including MATIC, are potentially at risk of facing more downward price pressure if the current support levels fail to hold, as reported by daily hold.
Reasons Why You Should Buy Polygon
If you had invested US$1000 in MATIC at the beginning of 2021, how much would it be worth in the face of 2022?
On January 1, 2021, Polygon was worth US$0.01781. On January 11, 2022, it was worth US$2.22. This means that if you invested US$1000 on January 1, 2021, those US$1000 would now be worth US$124,649.1.
5. Ripple (XRP)
- Coin Bureau has revealed that U.S. SEC has focused on Ripple because of its location in the U.S., unlike the other cryptocurrencies.
- Based on ambcrypto’s prediction, the XRP price might see intense volatility over the middle of May.
- Experts from Finder’s Fintech predict that XRP price may increase to 2.55 USD by December 2022.
Reasons Why You Should Buy Ripple
According to TradingEducation, Ripple is a worthwhile purchase because its transactions take seconds and have a strong network effect. The central banks in many countries are planning to use XRP to transfer money internationally. Moreover, it is listed on many exchanges and has a solid and aggressive community.
If you had invested US$1000 in XRP at the beginning of 2021, how much would it be worth in the face of 2022?
On January 1, 2021, Ripple was worth US$0.2374. On January 11, 2022, it was worth US$0.7384. This means that if you invested US$1000 on January 1, 2021, those US$1000 would now be worth US$3,110.4.