Which crypto to buy?

Many people in the crypto sector are wondering when the new bull run will begin. Or has it secretly already started? Even more people are simply wondering: which crypto should I buy? Others are looking toward 2024, an important year for the crypto market. Will the approaching halving of Bitcoin in 2024, an event that has historically had much impact on the market, cause the same bull run as that of 2020? That remains to be seen. We can't just say "Crypto is going to rise" and leave it at that. What we can do is provide information. This way, investors can position themselves for the upcoming year. There is an old saying in the trading world, "Buy the rumor, sell the news. In this blog article, we discuss the best crypto coins that will prepare you for 2024

Table of Contents

1. Which crypto to buy in 2024
2. Bitcoin
3. Ethereum
4. Solana
5. Polygon
6. Avalanche
7. Cosmos
8. Small market cap coins
9. Buying lesser-known crypto? Here are the most important aspects:
10. Trading tips

Which crypto to buy in 2024

As we move into this exciting time, it is essential to remember that predicting the future in the world of cryptocurrency is never a certainty. The 2024 halving not only promises to have an impact on the Bitcoin price, but could also affect general sentiment in the crypto market. In this article, we do not give a buy recommendation, but focus on the facts, numbers and what analysts expect. In addition, we look at the future plans of the coin itself, taking into account the unpredictability and dynamic nature of the crypto market. Therefore, always do your own research!

Bitcoin

Yes, we simply cannot ignore Bitcoin BTC, the very first crypto currency, in this list. ' Buying Bitcoin ' is something you've been hearing for years. There are several reasons for this, namely the Bitcoin halving, the operation of scarcity, as well as applications for various Bitcoin ETFs. The Bitcoin halving is a major event within the Bitcoin network, where the reward for finding a new block is halved.

First-ever cryptocurrency

This leads to a reduction in the number of newly created Bitcoins. The first Bitcoin BTC halving occurred on Nov. 28, 2012, when the value of Bitcoin was around €20. After this halving, the value of Bitcoin rose to around €500 in the following years. The second halving was on July 2, 2016, where the reward was lowered to 12.5 new Bitcoins per block. After this halving, the price climbed to about €16,500 in the following years.

The most recent halving happened on May 12, 2020, with a reduction in reward to 6.25 new Bitcoins per block. After this event, one saw a significant price increase to around €60,000. Looking at this historical data, one can cautiously predict that after the next halving, scheduled for 2024, the price of Bitcoin may exceed €60,000. If this does not happen, there is a chance that miners, due to reduced rewards, will drop out.

Bitcoin ETF applications

An Exchange-Traded Fund ( ETF ) is a mutual fund that, like individual stocks, is traded on an exchange. The unique feature of an ETF is that it tracks a diversified portfolio of assets, such as stocks, bonds, commodities or, in this particular case, Bitcoin, and offers them in the form of shares on the exchange. ETFs are particularly popular among investors because of their ability to provide easy and cost-effective access to various markets and sectors, and in the future, therefore, the crypto sector. These funds are known for their liquidity, low management costs and transparency, making them an attractive option for beginners and experienced investors alike.

Several companies, including BlackRock and Grayscale, are actively developing a Bitcoin ETF. They are not alone in this venture, as several companies around the world are taking similar steps to market their own Bitcoin ETFs. The anticipation of approval of these ETFs already has a positive impact on the market. Should this approval occur, it could have a significant impact: it would lead to a flow of institutional money into the crypto market. This could not only increase Bitcoin's market value, but also further strengthen the overall stability and legitimacy of the cryptocurrency sector.

Scarcity and the effect on the market

Bitcoin, known for its scarcity, is a digital currency of which only 21 million coins will enter into circulation. This built-in limitation in supply adds to Bitcoin's unique appeal. Not only publicly traded companies, but more and more countries are beginning to recognize the value of this digital currency.

An important aspect of this scarcity is that, prediction is that around the year 2140, the last Bitcoin will be mined. At that time, all 21 million Bitcoins will have been mined and put into circulation. This means that no more new Bitcoins will be added to the system and the phenomenon of the Bitcoin halving , cutting the reward for miners in half, will no longer take place. The fixed limit on the number of Bitcoins creates a unique economic model in which scarcity plays a central role. This contributes to the value and potentially long-term stability of the currency because supply is limited and predictable, a contrast to traditional currencies where governments and central banks can adjust supply. Bitcoin is thus not only a good investment for 2024. Bitcoin is perhaps THE long-term investment of the future.

Ethereum

Thanks to the Bitcoin halving, not only is BTC rising, but alternative cryptocurrencies, or altcoins, are rising along with it. The biggest example of this was in early 2018, when altcoins experienced exceptional growth, with some even increasing in value by astounding percentages. The baker on the corner even started talking about Ethereum . Ethereum therefore cannot be missing from this list. Where Bitcoin is the digital gold, Ethereum is the platform where crypto use cases are born. From smart contracts (smart contracts), tokens to the platform of DeFi .

Ethereum blockchain

After Ethereum is finally proof-of-stake and the burn mechanism is functioning correctly, 2024 is all about scaling. This is because Ethereum, the world computer, is often expensive in terms of transaction costs. Just recently, Vitalik gave an interview about 2024 plans. Buterin emphasized the upcoming Ethereum Improvement Proposal (EIP) 4844 , also known as Danksharding, which is prediction to significantly increase data directory space to 16 Megabytes. There is also the De Dencun upgrade, scheduled for early 2024. This upgrade is also aimed at improving Ethereum's scalability, efficiency and decentralization. Should the bull market erupt in 2024, the Ethereum stock price will no doubt play an important role.

Solana

Solana quickly had a reputation as a rising star in the crypto market. It wasn't long before the crypto entered the top 10 in terms of market cap. All the hype created a lot of momentum for Solana. The all-time high (ATH) of Solana was impressive, with a value of €225. This level of success, registered during a period of intense interest created tremendous hype. Currently we are 75.59% below the all time high of 2021.

Solana (SOL) had risen significantly from €8 to around €62 within a year, but faced a collapse due to its association with the insolvent crypto exchange FTX and Alameda Research. Despite decentralization and reliability challenges, including multiple blockchain stops, Solana has recovered impressively with an active ecosystem, positioning itself as a competitor to Ethereum.

Solana was initially hailed as the fastest blockchain, aiming to surpass Ethereum. A lot was also expected in terms of scaling, however, this was somewhat overshadowed by the emergence of Layer 2 protocols on the Ethereum network (Indeed, the Ethereum blockchain is also known for its high transaction costs). Nevertheless, Solana is still considered more user-friendly by many crypto experts and influencers, with a growing ecosystem and increasing practicality.

A key development for Solana is the upcoming Firedancer update, which aims to process up to one million transactions per second, potentially revolutionizing blockchain's scalability, security and decentralization. This could position Solana as a formidable competitor in transaction systems and high-frequency trading.

Solana's partnership with VISA to process the stablecoin USDC, along with its low transaction costs, indicates strong potential in both the traditional financial and DeFi sectors. Institutional investors are also showing interest in Solana, as evidenced by inflows into Solana ETPs and endorsements from notable figures such as Cathie Wood.

Smart contracts and decentralized applications

Despite these positive developments, Solana's ecosystem has yet to prove its long-term viability and ability to sustain growth without major technical problems. It continues to lag behind Ethereum in terms of smart contract -protocol and developer network.

Solana also went through a bad time. Faced with the aftermath of the FTX debacle and challenges in blockchain functionality, the project suffered significant reputational damage. Nevertheless, Solana is on an impressive rise. The ambitious promises made have raised exceptionally high prediction levels around the cryptocurrency. As Solana can maintain its growth and use cases, it could be a key player in the next bull run.

Polygon

Polygon, known as a "layer two" or "sidechain" scaling solution operating in parallel with the Ethereum blockchain, is distinguished by its fast transactions and low cost. MATIC , Polygon's native token, plays a central role in the network for fees, governance, and staking. These technological advances have helped transform Ethereum into a fully-fledged multi-chain system, similar to networks such as Polkadot and Avalanche, but retaining Ethereum's security and vibrant ecosystem.

What makes Polygon particularly interesting are its many collaborations and partnerships across a variety of industries. From the financial sector with Mastercard and Robinhood to social media initiatives with Instagram and Reddit; from the automotive industry with Bentley Motors and Mercedes to the food and beverage industry with Starbucks and Coca-Cola. In the fashion and beauty industry, Polygon works with big names like Nike, Adidas, and Prada. Polygon also demonstrates its versatility in e-commerce, sports, technology and entertainment, with partnerships such as with Stripe and participation in Disney's Accelerator Program.

These diverse collaborations underscore the confidence

that large companies have in Polygon set and promise a promising future for the platform, with its growing acceptance and integration into blockchain technology.

Avalanche

Avalanche stands out as a promising asset for 2024 for several reasons. First, as a programmable smart contracts platform for decentralized apps, it competes directly with Ethereum. The goal of Avalanche to be the "platform for platforms," indicates its ambition to revolutionize the blockchain sector. The name "Avalanche" is a metaphor for its potential impact - a strong, overwhelming force in the digital world. Environmentally, Avalanche is a leader, prioritizing a minimal environmental footprint, making it an attractive choice for environmentally conscious investors and developers. Its commitment to sustainability aligns with the growing global focus on environmental responsibility. Technologically, Avalanche addresses the blockchain trilemma - scalability, security and decentralization - a challenge first posed by Ethereum founder Vitalik Buterin. This innovative approach has already attracted major players to Avalanche's blockchain. The NFT market, primarily hosted on Ethereum and its sidechains, is seeing a shift. Developers are increasingly building NFT-powered crypto games on Avalanche. This trend is evidenced by the success of Avalanche's play-to-earn game, Crabada, which recently surpassed Ethereum-based Axie Infinity in NFT trading volume. With more than $225 million in trades, Crabada tops as the highest-earning NFT project on Avalanche. These factors - its competitive advantage over Ethereum, environmental awareness, technological innovations and growing dominance in the NFT and gaming sectors - position Avalanche as a very promising asset heading into 2024. Its ability to adapt and lead in these critical areas hints at a promising future.

Cosmos

Cosmos, self-proclaimed as "The Internet of Blockchains," represents the evolution in blockchain technology beyond the foundations laid by Bitcoin (Blockchain 1.0) and Ethereum (Blockchain 2.0). It uniquely connects multiple blockchains, marking the next step (Blockchain 3.0). The project is dedicated to integrating different crypto-networks through a suite of open-source tools, enabling seamless transactions between different blockchains. Cosmos has developed customizable and interoperable software development kits (SDKs) essential for building on the network. Cosmos particularly stood out during the bear market, the ATOM token rose while other cryptocurrencies fell sharply. This rise coincided with a broader shift in the industry following the downfall of Terra Luna, leading to a renewed focus on the Cosmos Hub SDK. Additionally, there has been a steady increase in the number of unique delegate addresses to the network, indicating growing engagement and activity within the Cosmos ecosystem. Looking toward 2024, Cosmos is about to launch the Inter-Blockchain Communication Protocol (IBC), heralding a future of interconnected blockchain ecosystems. The I of IBC stands for interchain, enabling not only token transfers but also complex interactions between blockchains themselves. This includes external account control, data queries between chains and more. Remarkably, IBC is secure and permissionless, inviting anyone to build with it. The impact of IBC is already significant, with 52 million transfers worth $29 billion across more than 100 chains in the past year. The 2024 roadmap emphasizes expansion and usability, with goals to streamline IBC implementation, reduce maintenance costs and broaden IBC connections across diverse blockchains. Focus on development will also improve the overall usability of the protocol. These planned improvements in 2024 point to a positive future for Cosmos .

Small market cap coins

Looking for other cryptocurrency? Buy crypto with higher profit probability? The x10 coins. Well there are many different crypto coins and digital currencies. Since these are all cryptocurrencies with a high market capitalization. In that case you should look for the hidden gems, the coins with a smaller market cap.

To discover these hidden gems in the crypto world, you need to dig deeper for lesser-known coins, often found on page three or beyond on CoinGecko, for example. Finding such a coin, which could potentially increase in value tenfold, requires thorough research but can lead to significant returns when buying crypto. Of course, the risks are also greater.

Buying lesser-known crypto? Here are the most important aspects:

Website quality: A credible cryptocurrency must have a well-designed, clear and error-free website.

Team Expertise: A successful cryptocurrency relies on an experienced team, preferably professionals with high qualifications and relevant industry experience. Anonymity or lack of team information is a wrong signal.

Competitive Analysis: Assess the coin's function, its competitors and its chances of surpassing them. While overtaking a giant like Ethereum is unlikely, competing with lesser-known cryptocurrencies can bring faster success.

Technical Soundness: Consider the coin's design and practical application. Assess whether the technology addresses a real world need and whether it is not too complicated.

Marketing presence: A coin's growth potential is often reflected in its media presence, advertising efforts and partnerships within a large network or ecosystem.

Pricing strategy: Coins with a lower price often attract more investors because people prefer to own a larger number of coins.

Credibility of the Roadmap: A roadmap that adds significant coin supply or fails to deliver on promises is worrisome. Unrealistic or insignificant milestones are also red flags.

Popularity and Discussion: Check social media and tech channels such as GitHub for discussions about the coin. A lack of conversation may indicate that the coin is not as valuable as it seems.

Exit strategy: Eventually, you want to sell your assets. Make sure the crypto is tradable and there is market demand for it.

Trading tips

Just want to buy crypto every month? Consider Dollar Cost Averaging (DCA), a strategy in which you regularly invest a fixed amount regardless of market conditions. This approach can help reduce risks associated with market volatility. If you are positioning yourself for 2024, DCA can provide a disciplined way to build your investments over time, potentially smoothing market peaks and valleys and allowing you to accumulate assets in a more controlled manner.

With all this information, you should be ready for the year 2024. We want to emphasize again that Anycoin Direct does not give buying advice. There is no golden manual for the best crypto. Always do your own research and always make your own considerations. Do not be tempted by false promises and golden mountains. When investing in cryptocurrencies, it is essential to weigh opportunities against caution. To conclude, we therefore provide these tips:

1. Risk Management : Investing in cryptocurrency is risky with high potential returns. Invest only what you can afford to lose.
2. Risk tolerance : Be aware of market volatility and tailor your investments to your comfort with risk.
3. Research : Immerse yourself thoroughly in the cryptocurrencies you are interested in, including their technology, applications and the teams behind them.
4. Emotional Discipline : Don't be guided by emotions. Avoid impulsive actions based on fear or hype. Set clear investment goals and stick to your strategy.
5. Exit strategy : Plan your exit points in advance and determine when to take profits or limit losses.
6. Diversification : Spread your risk by investing in a mix of established and potentially high-yielding cryptocurrencies, and also consider diversifying with traditional financial instruments.
7. Security : Use reliable wallets or our Vault, and consider hardware wallets for added security. Be vigilant against scams.
8. Regulatory Landscape : Stay abreast of the legal status of cryptocurrencies in your region, as regulations can vary and change.
9. Investment horizon : Decide whether you are in it for the long term or looking for short-term gains, as this affects your choices and portfolio management.
10. Stay Informed : Keep up with market news and trends, as the crypto world is very dynamic.