Massive Bitcoin Price Prediction! But Altcoins Way More Bullish

Massive 2024 Bitcoin Price Prediction! But Altcoins Way More Bullish

During 2024, Bitcoin broke through the $100,000 barrier for the first time, generating headlines, recording highs, and for the most part, sending the entire market on a bulls run. The election victory of Donald Trump, in particular, set the market on fire again for digital assets. Nevertheless, in light of Bitcoin’s remarkable rise, some altcoins and meme coins had also outperformed the digital asset, highlighting diverse growth in the crypto market.

Key Highlights Massive Bitcoin Price Prediction price registered a 130% surge in 2024, increasing to just above $102,000 on December 19. This growth brought about an increase of roughly $1.2 trillion in its market capitalization, a 47% rise since Election Day.

However, the best performing coin of 2024 was Pepe, a coin based on the meme frog, which rose a staggering 1,570%. Pepe’s market cap was above $5 billion at one point, making it the top-performing cryptocurrency in this category, according to CoinMarketCap.

The native token of the Sui blockchain (SUI) closely trailed behind with a 509% price explosion. Driven by Elon Musk’s ongoing championing of the meme-inspired currency, dogecoin surged by 333%, hitting a level not seen since the pandemic. XRP, the token used by Ripple, surged 304%, outperforming Bitcoin.

Among the other significant risers are Hedera (248%), Stellar (233%) and Toncoin, the Telegram blockchain’s cryptocurrency, which gained 155%. Shiba Inu and TRON were the other top earners, both rising about 150% and doing better than Bitcoin in terms of growth.

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Ten Best-Performing Cryptocurrencies of 2024 (Market Cap Above $5 Billion)

Pepe — up 1,570.7%, $9 billion market cap
Price – SUI – Up 509% — Mkt Cap $13.7B
Assets 1) Dogecoin — 333.1% (Market Cap: $56.9B)
XRP — ↑ 303.9%, $142.3B Market cap.
Hedera — +247.7%, $11.5 billion market capitalization
233.4% rise — Stellar – $12.9 billion market cap
Toncoin – $14.6 billion market cap, 155.6% increase
TRON — up 155.1%, $23.7 billion market capitalization
Shiba Inu — Up 150.1%, $15.2 billion market cap
Bitcoin — +135.9%, market cap $2 trillion

Crypto Market Grows In 2024 The worldwide market of cryptocurrency increased dramatically into 2024, according to data from CoinGecko, with its overall value doubling from $1.8 trillion to $3.6 trillion by December 18. Bitcoin dominates the space with a 56.8% share of the total market and 2/3rds of aggregate growth.

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Introduction to Meme Coins Meme coins, which are often based on memes viral on the internet, are known to be significantly more volatile than traditional cryptocurrencies. Dogecoin, in particular, soared in November after Trump’s announcement of new heads of the Department of Government Efficiency (DOGE): Elon Musk and Vivek Ramaswamy. Musk’s social media posts including meme images featuring dogecoin also drove up its price. Dogecoin just previously peaked at almost $0.70 in 2021 before falling after Musk jokingly referred to it as a “hustle” during an appearance on “Saturday Night Live.”

Others coin, which is viewed as as an alternative to Bitcoin, are also more volatile in higher one, with analysts emphasizing the growing saturation of the cryptocurrency market.

The Effect of Trump’s Election on Crypto Trump’s election was a turning point for the cryptocurrency market. Thanks to billionaire boosters of crypto like Tyler and Cameron Winklevoss and Ripple’s Chris Larsen, Trump was able to tag himself as a pro-crypto candidate and signaling he would lead efforts to make the U.S. the “crypto capital of the planet.” His win sent Bitcoin soaring to new highs — past $80,000, $90,000, and to over $100,000 within a month. The second-largest cryptocurrency, Ethereum, grew by 43%, adding $118 billion to its market cap.

The global crypto market has since added more than $1 trillion, solidifying the impact of politics on digital assets.

Background and Market TrendsThe crypto market’s rise into 2024 kicked off with the approval by the U.S. Securities and Exchange Commission (SEC) of Bitcoin exchange-traded funds (ETFs) for the first time back in January. These spot Bitcoin ETFs reaped a combined $15 billion in five months while permitting investors to receive exposure to Bitcoin without having to explore exchange platforms such as Coinbase. This milestone happened when interest surged in political circles, reaching a peak with Trump’s positive attitude toward cryptocurrencies.

Coinciding regulatory progress with political backing were key factors behind the market setting new all-time highs in 2023, giving rise to 2024 as a transformative making year for the industry.

FAQ

What spurs these huge Bitcoin price forecasts?

Bitcoin and other cryptocurrencies are driven by a mix of influences, including supply and demand, market and regulatory sentiment, technological innovation, and macroeconomic factors like inflation and geopolitical flashpoints.

Can Bitcoin go to $100,000 or more soon?

Though some analysts are predicting anywhere up to $100,000 for Bitcoin, that is speculative. Predictions vary based on adoption rates, institutional investments, and global economic conditions.

What is Bitcoin price prediction accuracy?

The forecasts for the price of Bitcoin information vary greatly. Although you can derive insights from technical analysis or study historical data, the market does not guarantee predictions as it is volatile.

How does Bitcoin halving influence price forecasts?

Bitcoin halving lowers the reward gained for mining new blocks, lowering supply. Halving events have historically caused price surges due to the supply-side impact and increased demand.

Are predictions on whether to buy in at the moment showing it is a good time to purchase Bitcoin?

Do your own research and evaluate risks before making investment decisions. This means that the price of Bitcoin fluctuates and investing carries some risks.