What are the best future digital currencies for investment? Finding promising digital currencies for investment requires considering several factors. In this article, according to fundamental analysis and personal perspective, we introduce some digital currencies that can perform well in the next bull cycle. Of course, introducing them does not mean investment advice and the main purpose of this article is only to share information.
The digital currency market has always seen ups and downs and ups and downs. After the significant growth of the digital currency market in 2021, this market entered a downward trend from the beginning of 2022. But despite the unfavorable conditions in early 2023, the market situation is expected to improve in 2024.
There are less than 200 days left until the bitcoin halving event. This event will happen on May 4, 2024 and will reduce the supply rate of Bitcoin. We know that the acceptance rate of Bitcoin is increasing over time and the demand for it is high; Therefore, according to the law of supply and demand, a decrease in the supply of Bitcoin and an increase in demand for it will lead to an increase in the value of Bitcoin.
On the other hand, the news related to the launch of Bitcoin Exchange Traded Funds (ETF) has pushed the market sentiment to a positive direction. These days, the possibility of the US Securities and Exchange Commission (SEC) approving the launch of spot bitcoin ETFs has intensified, which can attract more investors to this field.
In addition to these, attention should also be paid to the macroeconomic situation. The inflation rate in the United States had reached above 8% in 2022. But this rate has decreased significantly in 2023. However, the Federal Reserve still believes that the inflation rate should decrease.
An increase in interest rates can have a negative impact on the digital currency market. On the other hand, the intensification of geo-political tensions can negatively affect prices and the global supply chain.
However, the general trend of the US economy is expected to improve in 2024; Therefore, the year 2024 can be considered as a good opportunity for investment. Of course, choosing the right future digital currencies for investment is very important. In the following, we introduce some promising digital currencies that have more competitive power than others.
A list of promising digital currencies that have high growth potential in the next bullish cycle and are suitable options for investment are:
It is better to share with you some important points about investing in digital currencies.
Compliance with these points is a prerequisite for successful investment in the digital currency market.
The next bitcoin halving will happen in May 2024. Historical data suggests that this event will have a positive impact on the price of Bitcoin. The news about the increase of Bitcoin ETFs and the growing trend of the US economy are other factors that have a positive effect on the digital currency market.
Yes. Bitcoin is still the first digital currency in the market with a dominance of 53% and is still at the top of the list of digital currencies suitable for investment.