Although the majority of assets in the cryptocurrency sector have been going through a slight pullback in recent weeks, 2024 could be the winning year for investors in certain cryptocurrencies, even for those who invest as little as $1,000 into them at this time, regardless of their current price.
With this in mind, Finbold has identified three of these digital assets that could increase their price by 900% in 2024 and allow their holders to turn their original $1,000 investment into $10,000, should they choose to sell them if/when they grow their current price by this much.
#1 Bitcoin (BTC)
One of the obvious choices is the flagship decentralized finance (DeFi) asset, Bitcoin (BTC), which many experts and analysts believe will skyrocket in 2024 following its halving event estimated to take place in late April, with professional crypto trader Michaël van de Poppe setting it at $500,000.
For now, the largest asset in the crypto sector by market capitalization is trading at $42,167, down 0.83% on the day, up 5.4% across the week, and down 7.74% over the month, whereas during the past 12 months, it has advanced by 83.49%, as the charts suggest.
#2 Ethereum (ETH)
Meanwhile, Bitcoin’s runner-up, Ethereum (ETH), is not immune to its rival’s gains, which means it could experience a bullish rally in 2024 on the wings of Bitcoin’s post-halving, pushing its price upward. Moreover, chatter has started regarding Ethereum’s own spot exchange-traded fund (ETF).
At press time, the price of Ethereum stood at $2,269.65, recording a decrease of 1.58% over the last 24 hours, a 2.19% gain across the previous seven days, and a 6.08% drop in the last month, accumulating an increase of 44.3% on its yearly chart, according to the most recent data on February 1.
#3 Solana (SOL)
Finally, the often-touted ‘Ethereum killer,’ Solana (SOL), has become a prominent blockchain solution for decentralized apps and smart contracts among the greats, priding itself on high transaction speeds, budget-friendly fees, and increased investor interest, which have brought it price gains in the past, and could in 2024.
In 2023, it showed potential for the upside thanks to the ‘fear of missing out’ (FOMO) on its SPL token airdrops, pushing its price above $100, while it is currently trading at $96.12, losing 3.12% today, rallying 10.09% across the week, dropping 17.27% in the last month but growing 309.94% over the year.
Conclusion
Overall, the above cryptocurrencies could, indeed, bring their investors massive profits in 2024, but predicting specific prices in this industry is very challenging, which is why it is important to carry out one’s own research and weigh the risks before investing more than you can afford to lose.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://finbold.com/3-cryptocurrencies-to-turn-1k-into-10k-in-2024/