The crypto market is becoming more enticing every day for the aspiring people of Pakistan. Since the market has so much potential for high-yield investments, the upcoming new year looks promising. However, investing in one cryptocurrency out of 23,000 can quickly become challenging. Luckily, we have all the right answers for you!
In this blog, we will explore all the most promising cryptocurrencies with high prospects for 2024, and you can choose which one to choose for the next bull run. Let’s start!
What Is A Bull Run In Crypto?
You may be unfamiliar with this term if you are a novice in the investing or crypto world. A bull run refers to when most investors buy and increase the value of a cryptocurrency for a particular period. You may have noticed this in the form of peaks on a crypto price graph.
A good example of a bull run in the crypto sphere was noted in 2021 when Bitcoin gained traction out of nowhere and grew ten times its value. This means if you have bought one Bitcoin, priced at 1.8 Million PKR, at the start of October 2020, you would have 11 Million PKR by the time you sell it in mid-November 2021.
These types of bull runs are essential for people who want to get the most out of their investments. If you also want to get all the benefits of a bull run, you need to make up your mind and invest in the crypto of your choice right now when the prices are down for the end of the year.
Which Crypto Is Most Likely To Make A Bull Run In 2024?
We have compiled a list of the cryptocurrencies most likely to make a bull run in 2024.
1. Bitcoin ETF
It is a no-brainer that Bitcoin has made itself onto this list when it had the most notable bull run in the history of crypto. The current price of Bitcoin ETF is 11 Million PKR, which is down by 1.67% in the last five days, making it the best time to invest in this currency.
2. Ethereum ETH
Ethereum is also one of the most profitable and recognizable cryptocurrencies, next only to Bitcoin. The current price of Ethereum ETH is over 600K PKR, which is down by 2.65% in the past week. This is another great opportunity to invest in a cryptocurrency with big chances of a bull run.
3. Solana SOL
Solana is a layer-one blockchain built for mass adoption. The native cryptocurrency, Solana SOL, survived the bear market and has been estimated to have a high potential for a bull run. The current value of SOL is over 18K PKR, which is down by 7.87% in the past 24 hours alone. Luckily, it seems to be on the cusp of a rise, so that we might be seeing the start of a very profitable bull run for the next year.
4. Polkadot DOT
Polkadot works as a communicating agent between various blockchains. The native currency on it is Polkadot DOT, and it has a history of short but significant bull runs at the start of every year, with the latest being last year. The current price of DOT is around 1700 PKR, a 4.49% drop in the past 24 hours, which means the optimum time to invest in this coin is now.
Conclusion
The prospects for a bull run in the upcoming year seem very promising. If you wish to invest in any of these e-currencies to get ahead of the bull run of the upcoming year, we suggest not putting all your eggs in one basket. Instead, try to play the field and see what pays off. Another thing to remember is that using an international wallet like Webmoney in Pakistan is not economically responsible, so try to use an e-money exchange platform with low fees, like XChanger.
