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A renowned crypto expert who accurately predicted the early August market crash that caused Bitcoin to briefly dip below $50,000 is now making headlines with a bold new forecast. The expert confidently predicts that Bitcoin will soar to $100,000 in 2024. But that’s not all; he’s also identified two altcoins—Ethereum (ETH) and MoonTaurus (MNTR)—as must-buys for investors aiming to maximize their gains in the next bull run.
Bitcoin’s (BTC) Path to $100,000
At the beginning of the month, Bitcoin (BTC) and the broader cryptocurrency market experienced a sharp decline amidst a wider financial market crash. BTC briefly plummeted to $49,000, while altcoins saw drops of up to 40% within just 24 hours. Since then, BTC has recovered and is now hovering around $58,700, which is still 20% below its all-time high set in March this year.
According to the expert, the recent correction was a healthy pullback in an otherwise strong bull market. He believes that several key factors will drive Bitcoin to new all-time highs in 2024.
First, the increasing institutional adoption of Bitcoin is a major bullish indicator. Nations, Companies and investment funds continue to accumulate Bitcoin as a hedge against inflation and economic uncertainty. Earlier this month, Russia, once skeptical of Bitcoin and cryptocurrencies, took a significant step forward by approving a new law that permits the use of digital assets for international payments. This nation also legalized Bitcoin and cryptocurrency mining within the country.
This development is partly due to the ongoing geopolitical tensions that have seen sanctions imposed on Russia. The geopolitical tensions and the global economic slowdown are likely to increase demand for decentralized assets like Bitcoin. As traditional markets face turbulence, more investors are expected to turn to Bitcoin as a safe haven, driving up its price.
Other factors expected to contribute to Bitcoin’s rally to $100,000 include possible rate cuts by the U.S. Federal Reserve in Q4 2024 and the upcoming presidential election. A favorable outcome, particularly if a pro-crypto candidate wins, could significantly influence Bitcoin’s price trajectory.
Ethereum (ETH) to Reach $7,000
The expert’s first altcoin pick is Ethereum, the second-largest cryptocurrency by market capitalization. Ethereum has long been the backbone of the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, with thousands of projects built on its blockchain.
Ethereum’s transition to a proof-of-stake (PoS) consensus mechanism, completed in 2023, has significantly improved the network’s scalability and energy efficiency. This upgrade, known as Ethereum 2.0, has laid the foundation for future growth, attracting more developers and users to the platform. The network has also undergone other network upgrades, such as sharding, which are expected to further enhance its performance, making it more competitive against newer blockchain networks.
Ethereum also recently saw the approval of nine spot Ethereum ETFs in the U.S. Despite a slow start influenced by Grayscale’s ETHE outflows, these financial products are beginning to gain traction. BlackRock’s Ethereum ETF recently surpassed $900 million in inflows, putting it on track to reach $1 billion.
During the financial market crash earlier this month, Ethereum fell over 25% to $2,220. However, it has since rebounded and is trading at $2,644 as of the latest update. The asset remains under bear pressure and will need to breach the $2,700 mark to signal an uptrend. The analyst believes that as spot Ethereum ETFs continue to attract more investors, the price of ETH is likely to rise. A moderate price prediction suggests ETH could reach $7,000 in the near future.
MoonTaurus (MNTR) as the Next $1 Billion Meme Coin
The expert’s second altcoin pick is MoonTaurus (MNTR). MNTR is a newcomer to the meme coin market that has been making headlines for its unique bull-themed narrative and strong presale performance. Unlike many meme coins that rely solely on hype, MoonTaurus has a well-defined roadmap and a solid foundation that have appealed to many crypto investors.
MoonTaurus launched its presale in late July 2024 and has already raised over $340,000 and attracted more than 1,000 unique token holders. The presale is in the second stage of a 10-phase presale campaign. The price of MNTR has doubled from $0.005 to $0.01, and it is expected to rise further to $0.07 at launch. This dynamic presale pricing model guarantees a 7x return for investors participating in the presale during this second phase.
Notably, the MoonTaurus presale has attracted significant investor interest, including whales and insiders who made massive gains from early investments in top meme coins like Shiba Inu and PEPE. These strategic investors have been actively accumulating MNTR during the presale, indicating growing confidence in the project as they seek similar, if not greater, returns with this newcomer. Their involvement has also drawn the attention of smaller investors who track and emulate these whale moves, further boosting the presale’s momentum.
The expert sees MoonTaurus as a high-potential investment, particularly for those who missed out on the early days of SHIB and PEPE. The project’s roadmap outlines an ambitious goal of achieving a $1 billion market cap for MoonTaurus, a milestone that could position the meme coin as a top performer during the 2024 bull run. The expert believes this target is attainable given the project’s solid fundamentals and ongoing aggressive marketing campaign. This campaign has generated significant buzz among investors and analysts, making MNTR a hot topic in the crypto market.
marketing campaign, which includes partnerships with influential figures in the crypto space, is expected to drive significant demand for the token once it launches on both centralized and decentralized exchanges.
With Bitcoin primed for a run to $100,000 and two strong altcoin picks in Ethereum and MoonTaurus, the expert believes that now is the time to buy. Both Bitcoin and Ethereum are currently trading below their all-time highs, offering discounts of 20% and 46%, respectively. MoonTaurus is still in its early presale phase, and investing now is akin to buying Bitcoin at $100 or Ethereum at $10. It is a unique opportunity for early investors to get in on the ground floor of a promising new project with strong upside potential.
Website: https://moontaurus.com/
Linktree: https://linktr.ee/moontaurus
Source: https://finbold.com/expert-who-called-the-august-crypto-crash-predicts-bitcoin-will-reach-100000-in-2024-names-top-2-altcoins-to-buy-now/