The cryptocurrency market has been unpredictable in the last few months, with many promising cryptocurrencies experiencing the brunt of the decline. Still, it’s worth pointing out that Bitcoin (BTC-USD), the leading cryptocurrency, has hardly declined from its peak. In fact, its recent decline of nearly $12,000 from its peak seems minimal in percentage terms when compared to historical trends.
Bitcoin has seen dips ranging from 15-30% numerous times during past bull runs, only to rebound and hit new highs. The current bull run is particularly notable because it precedes the halving event. I remain notably bullish on Bitcoin, predicting it could reach $100,000 or more by late 2024 or early 2025 as scarcity from the halving increases and inevitable ETF inflows boost the market further.
In this turbulent time, shrewd investors might consider investing in low-priced altcoins before their next price surge. Remember, however, investing in these cryptos carries a significant risk. Therefore, investors should tread wisely when committing substantial sums to these currencies. Yet, the prospective long-term gains could be substantial.
Let’s explore three high-potential cryptocurrencies that could potentially offer 10,000% gains by the end of 2024.
Pyrin (PYR-USD) is a fork of Kaspa (KAS-USD), a crypto asset that has thus far experienced the most impressive gains this cycle. There seems to be no diminishing of the bullish momentum; the price—as of writing—has rebounded without making a lower low in a long time.
While Kaspa’s remarkable market capitalization of $2.8 billion suggests limited upside potential in the future, Pyrin presents significant multibagger benefits, making it an attractive alternative for those seeking such returns. Despite recent disappointing performance, Pyrin has been holding steady lately. If the broader crypto market gains momentum, Pyrin could potentially bottom out and offer substantial gains. Unlike Kaspa, Pyrin supports smart contracts and is an ASIC-resistant transaction network.
Banano (BAN-USD), in theory, is a meme coin. However, with its engaging features and notably active community, it could spur significant demand in the future. Banano, a hard fork of Nano (XNO-USD), enjoys many of Nano’s peer-to-peer blockchain advantages. Therefore, Banano transactions do not incur gas fees or taxes and are conducted swiftly.
Furthermore, Banano is thoroughly decentralized, a rarity in today’s crypto sphere, and lacks a centralized development team. This unique attribute arguably makes Banano one of the safest meme cryptos. Notably, users can sell computing power to the medical sector in exchange for Banano, a process called “folding”. This unique selling point might constitute it the most practical meme coin, even surpassing some utility projects with little activity on their networks. With a market cap of merely $8.4 million, Banano could deliver 1,000%-plus gains in the next altseason.
Finally, Blue Kirby (KIRBY-USD) is another coin that might be worth considering, albeit with caution. Unlike other cryptos, this coin doesn’t serve any functional purpose. It is purely a meme crypto that I believe could generate substantial returns due to its current tokenomics setup.
At the time of writing, Blue Kirby has a market cap of around half a million. It is among the more popular memecoins on the Fantom blockchain. While this crypto experienced a minor “rug pull” in March, its token distribution has since been reoriented and now seems healthy.
This crypto could yield multibagger gains if Fantom (FTM-USD) skyrockets in the next altseason or if it gains enough traction from crypto whales. Regardless, like the other two cryptos, it is a speculative investment and should be treated as such.
Let us know what you think. Please share your thoughts in the comments below.
