With January 2024 fast approaching, the cryptocurrency sector as a whole is starting to look bullish, led by the price gains of its representative asset that is back on track around the $43,000 threshold and has pushed the industry’s market capitalization to $1.62 trillion.
With this in mind, Finbold has analyzed the cryptocurrency sphere to arrive at the list of three crypto assets worthy of consideration by crypto traders and investors as the best purchase choices during the upcoming first month of the new year.
#1 Bitcoin (BTC)
Although Bitcoin (BTC) has already surpassed the massively important price level at $43,000, already measuring a 160% increase since the start of 2023, it may not be too late to profit off the potential bullish rally that could follow the halving event and the possible approval of a spot Bitcoin exchange-traded fund (ETF).
As things stand, the flagship decentralized finance (DeFi) asset is currently trading at the price of $43,184, which suggests an increase of 6.12% in the last 24 hours, in addition to gaining 3.21% across the previous seven days and advancing 17.82% on its monthly chart.
#2 Ethereum (ETH)
At the same time, Bitcoin’s runner-up, Ethereum (ETH), has also recorded significant gains in 2023, during which it managed to rise above the $2,000 price mark and continue further up, an impressive feat considering it started the year below $1,200. Moreover, three out of four ETH holders are presently in profit.
For now, Ethereum is changing hands at the price of $2,240.18, recording an increase of 4.16% on the day, a rather modest advance of 0.58% across the past week but a more substantial growth of 14.13% during the last month, according to the latest data retrieved on December 19.
#3 Cardano (ADA)
Another big name in the crypto industry that is recording gains on all of its charts is Cardano (ADA), which is demonstrating a bullish outlook visible in its blockchain’s total value locked (TVL), which currently stands at $420 million after briefly reaching $444 million on December 14, as Defi Llama data indicates.
Meanwhile, the price of Cardano at the time of publication amounted to $0.5997, suggesting an increase of 9.28% on its daily chart, a 1.85% gain across the week, and as much as a 59.77% advance during the past 30 days, according to the latest chart information on December 19.
Conclusion
All things considered, the above digital assets have a strong chance of continuing their price gains in the coming year, particularly thanks to their previously demonstrated trends, placing them among the best choices to buy in January 2024. That said, doing one’s own due diligence before investing is essential.
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/top-3-cryptocurrencies-to-buy-in-january-2024/