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The crypto market is excited as the largest and most influential one, Bitcoin (BTC), makes a new rally. Such a price move has indeed injected fresh momentum, with the focus of the market shifting to some of the top altcoins signaling major growth: Near Protocol (NEAR), Cardano (ADA), and the up-and-coming Algotech (ALGT).
This new energy around Bitcoin has renewed hopes for a sustainable bull run. Investors and traders alike keep close tabs on the movements in the market. Thus, the attention has changed toward keeping an eye on what could be emerging as the next potential winners that ride the wave from increasing mainstream adoption and institutional interest in digital assets.
Bitcoin Price Analysis and Prediction
Bitcoin’s recent surge has seen it reach a six-week high of $71,000. This significant jump in value has caught the eye of experts. Some experts think Bitcoin could go even higher in price. One expert, named Trader Tardigrade, thinks Bitcoin’s rise is just starting. In a tweet, he boldly said Bitcoin could reach $120,000 by the end of 2024. If this happens, it would break all records. It would also show that Bitcoin is a real and widely accepted asset.
Some may think this price target is too high. But others point to two key things driving Bitcoin higher. First, there is a limited supply of Bitcoin. Second, more and more institutional investors are buying Bitcoin. Another expert named Mags agrees. Mags said those who doubt Bitcoin are not ready for this rise. Mags asserts that it is normal for prices to stay flat for a while before reaching a peak in a bull market.
Experts Predict NEAR Protocol Could Surpass $18 by Year-End
As the digital asset world thrives, Near Protocol (NEAR) stands out as a promising player. Recently, riding on Bitcoin’s wave, NEAR has grabbed attention and investments. Its market cap is nearing $9 billion, its yearly high point. The market cap chart shows an upward trend, signaling bullish momentum. However, there’s strong selling pressure around $9 billion tested multiple times.
Currently, NEAR trades at $8.17 with a 24-hour trading volume of $740 million, up an impressive 65%. Its CoinMarketCap ranking is #17, with an $8.8 billion market cap. While NEAR dipped to $4.26 in early January 2024, experts and investors are optimistic about its future. Many predict NEAR will surpass $18.00 by year-end, even breaking its previous $20.42 all-time high. They expect consolidation between $16.29 and $18.00.
Whale Activity Indicates Bullish Trend For Cardano
The smart contract platform Cardano (ADA) is gaining attention from investors. It focuses on making the blockchain work better and last longer. This cryptocurrency is now trading at around $0.50. Its 24-hour trading volume has gone up 66%. Cardano is the 10th largest cryptocurrency based on market value. It has a market cap of $17 billion. There are over 35 billion ADA coins in use out of a total supply of 45 billion.
Recent data shows that transactions worth $10.11 billion in ADA happened in large volumes over the last 24 hours. When there is a spike in large transactions, it often means whales and institutions are buying or selling it. This surge has led to expectations that ADA’s price could rise soon. The large volumes may indicate growing interest from whales accumulating ADA in hopes the price will go up.
In early January 2024, Cardano’s price dipped to $0.63. However, experts and investors are optimistic about its future prospects. Many predict Cardano will surpass $1.10 by the end of this year. Some even think it could break its previous all-time high of $3.10.
Algotech (ALGT) Raises $5.2M In Presale With 23,000 Members
Algotech (ALGT) has captured attention as a promising newcomer in the dynamic crypto world. It is a decentralized platform using cutting-edge algorithms for automated crypto trading. With its ongoing presale and bold aspirations, Algotech aims to transform trading and investing.
The project has already raised over $5.2 million from more than 23,000 members, offering a potential 1200x return on investment (ROI). Currently, in its third presale stage, which is 96% filled, the token price is $0.08, with the next stage set at $0.10.
Moreover, Algotech announced an exciting $250,000 giveaway. Ten lucky winners will each receive $25,000 worth of ALGT tokens. To enter, participants must invest at least $100 in the Algotech Presale and complete all required tasks for increased chances of winning. However, with a total supply of 350,000,000 ALGT tokens and an estimated launch price of $0.15, Algotech’s tokenomics have sparked investor interest in the fast-growing algorithmic trading sector.
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Serena James has worked as a writer for different media houses in the past. Currently, she is working as a fundamental writer for thecoinrepublic, covering decentralized finance. When she isn’t writing, she can be found skimming and scanning Twitter and other websites to produce mind blowing breaking stories.
