Assessing the prospects for the cryptocurrency market in September 2024
The latest fall in the cryptocurrency market has caused panic among some investors, but this is not a reason to refuse to invest in these assets.
It is during trend pullbacks that you can most profitably buy a promising asset, and then make the most of the increase in its price.
We will try to assess the growth opportunities of the most popular and liquid cryptocurrencies, taking into account the current price and past highs, this will allow you to make the most profitable investments if you decide to invest in cryptocurrencies.
At the same time, we will not consider memocoins, since this category of digital money has the maximum risk and it is not a fact that many of them will ever increase in price.
Bitcoin
Bitcoin is still the leading cryptocurrency in terms of capitalization, and therefore is a fairly liquid asset.
Today its price is $56,700 per coin, and the recorded historical maximum price is $71,000.
That is, we can assume a probable increase of 25%
Ethereum
For several years now, Ethereum has occupied the second, honorable place among thousands of other cryptocurrencies, but recently the asset has dropped significantly in price.
Today the price of Ethereum is $2,300 per coin, and the absolute maximum price was $4,600.
Therefore, if we assume an optimistic scenario for the growth of the crypto-currency market, the coin may rise in price by two times or by 100%.
Binance Coin (BNB)
Cryptocurrency from the Binance exchange Binance Coin is the fourth most popular cryptocurrency, and if you do not take into account the stablecoin Tether USDt, then the third.
At the moment, the cost of Binance Coin is 515 US dollars, while the maximum price was recorded at around $700.
The growth prospect is about 35%, and it is quite realistic, since the Binance exchange is gaining popularity every day.
Solana
In fourth place is the Solana cryptocurrency, which today receives relatively little attention, although daily turnover in this cryptocurrency is approaching $2 billion.
Now the price of Solana is at around 132 US dollars, and the maximum price that it managed to reach is 210 dollars.
With a high probability, during the next uptrend Solana may rise in price by 59%.
Ripple
Ripple is one of the most controversial and at the same time the most popular cryptocurrencies with a large capitalization.
The price of one Ripple coin on September 11, 2024 is only $0.54, while in best times the coin cost $2.70.
Based on this, we can say that there is a high probability that Ripple will rise in price by 5 times or 400%. But this is not a fact, since the price of a coin does not always correlate with the main trend in the cryptocurrency market.
There is a fairly high probability that the cryptocurrency market will begin to grow after the discount rate on the US dollar is lowered, and the elections in the US will be an additional incentive for price increases.
Therefore, do not waste time, and if you were planning to invest in cryptocurrencies, then today is a pretty good moment for this.