As the market of cryptocurrencies is ready to take over the world, the bull runs in the market are creating an air of anxiety as investors are looking to increase their profits. As the market is all ready to maximize its profits, investors must keep an open eye when taking part in any project that could increase the ratio or profit and not take them in any kind of loss.
However, the price of Bitcoin is at an all-time high now at $70,432. One of the main reasons for this rise of Bitcoin and other altcoins is the approval from the U.S Security and Exchange Commission SEC of 11 spot ETFs for the marketplace of the USA in January 2024.
Top 3 Cryptocurrencies to buy in March 2024
Bitcoin:
Cryptocurrency analysts are looking back on all their predictions after looking at the Bitcoin price reaching an all-time high of $70,432 on March 05, 2024. Now some analysts are predicting the rise in the price of Bitcoin by the end of the year towards $150,000 which will break all previous records even the 2021 November record of $69,999.99. Bitcoin did fall by 10% after reaching its new high but it came back after a short period. Analysts are predicting that the reason for this turn is because the profit can go new historic high.
Bitcoin Price Graph from 11th Feb- 11th March 2024:
Traders and investors are very positive and happy with the rise of Bitcoin by 52% in 2024 now and are ready to go to new highs. Analysts are now predicting that the price of Bitcoin is poised to go higher in the coming weeks. Spot Bitcoin ETF exchange-traded funds are experiencing consistent inflows. Bitcoin might link to blue-chip stock. The investors feel safer owning ETF Bitcoin rather than assets of cryptocurrencies, so this launch of exchange-traded funds will lead to more adoption of Bitcoin ETFs.
#Bitcoin price prediction $75-$80K by the end of March pic.twitter.com/YYybwej3ke
— Crypto Trading Campus (@TRWcryptotrader) March 9, 2024
At the same time, Bitcoin is all ready to gain more profit from low rates of interest with an anticipated event of halving coming in April, in which when the rate of Bitcoins in are released, the reward will be given to miners, and will be cut in half legitimately. The return of producing one block is likely to decline from 6.25 BTC to 3.125 BTC. In past times, Bitcoin has gained a lot of profit from halving and it is expected that Bitcoin might trade above $100,000 after the event of halving.
Ethereum ETH:
Ethereum owns the market capital of $459.16 Billion. Ethereum is known as the largest altcoin in the market of cryptocurrency. It has almost $2.49 trillion which shows the total capitalization of the market of more than 20,000 cryptocurrency assets, more than 17% is stocked in Ethereum. It is a network of distributed computing where users can utilize the blockchain to run their decentralized applications and conduct smart contracts. Ethereum has been through significant growth, with a rise of 65% in just one year. It is expected that the returns of Ethereum will be the same as Bitcoin in the coming 5 years.
Ethereum Price Graph from 11th Feb- 11th March 2024:
However, it is crucial to note that the Ethereum ETF exchange-traded funds are still pending. Although after the launch of Bitcoin ETF, it is expected that Ethereum ETF might launched soon. It will be very significant for the trending of Ethereum to grow higher, in the upcoming months of 2024. It is very important to notice that with the ETH merge, there will be a reduction of 99% in the cost of energy of transactions process of Ethereum. And hopefully, with Ethereum ETF, Ethereum might put more emphasis on the sustainability of focused blockchain.
#Ethereum (ETH) Price Prediction: The March to $5,000 Starts$ETH #EthereumClassic #EthereumToTheMoon $ETHUSDhttps://t.co/IP3z3af4mU pic.twitter.com/uAt8fYSfRR
— macrostreet (@macrostreet2) May 10, 2021
When the Ethereum merge was finalized, Vitalik Buterin, who is the co-founder of Ethereum, stated that only 55% of the development of Ethereum was completed. Therefore, it is expected to experience big developments in the coming years. The most anticipated development of Ethereum will be the Dencun upgrade, which is an upgrade of Ethereum, that will introduce proto-dank sharding, also known as EIP-4844.
Dogecoin DOGE:
The phenomenon of Dogecoin started as a meme and then became mainstream. But the rise of dogecoin in the market of cryptocurrencies is nothing short of amazing. In 2013, dogecoin came into existence and gained the attention of millions of users with its fun branding and community-driven ethos. However, apart from its meme-worthy fame, there is a blockchain network with the potential to transform the way we perform transactions online.
Dogecoin Price Graph from 11th Feb- 11th March 2024:
Whether people like it or not, but dogecoin is on top nowadays. In the year 2024, till now, dogecoin has seen a 70% increase in its trading of meme coins and this upsurge shows that there are other entities apart from bitcoin in cryptocurrency. The data in the market shows that meme coin trading such as the rise of Dogecoin to 61% in February 2024, as there was $6.4 Billion of liquidity in the crypto market. Meme coins are based on cryptocurrency on the popular memes on social media and the internet. Unlike other cryptocurrencies like Bitcoin, there is no practicality of meme coins so far.
March 2024's Dogecoin price prediction from @grok pic.twitter.com/tdYdbWQy1N
— Johnny Goodman👍🏻 (@johnnygoodman_) February 17, 2024
The price of dogecoin has increased 59% in the last month. Futures trading in dogecoin is setting new records, reaching a volume of $1 billion with almost 70% of their bets on the long side, along with long bets, short bets against dogecoin have lost around $40 Million in the start of March as the price of dogecoin is climbing higher. The rise of meme coins in the market of cryptocurrency is gaining traction among people. Dogecoin is ready to stay consistent and provide maximum profit to its investors. As the crypto bull run is getting all ready, Dogecoin can prove itself to be a profiting investment opportunity, possibly growing 2500% ROI for those ready and confident to utilize it.