Predicting the Top 5 Winners in the 2024 Crypto Bull Run
Every bull run has its winners and losers. With the next bull run predicted for 2024, investors are eagerly looking for potential winners. In a general sense, these are tokens that can offer 100x or even more profit potential, turning modest investments into fortunes.
So…will Bitcoin continue to dominate the market again, or should you be looking at other cryptocurrencies to maximise your profits? Now that the crypto winter is over and the spring has set, this write-up explores the possibilities and predictions regarding the most promising cryptocurrencies of the 2024 bull run.
Sneak Peek at Potential Winners
Pikamoon (PIKA) - A GameFi token currently in the final presale stage. PIKA offers potential 100x returns due to its assimilation with the likes of billion-dollar Axie Infinity (AXS) and The Sandbox (SAND).
Bitcoin (BTC) - The original and most dominant cryptocurrency that offers a safe and scarce alternative to the traditional financial system.
Uniswap (UNI) - The governance token for Uniswap, a pioneer and leader in automated market making that enables decentralised and permissionless crypto trading.
Ethereum (ETH) - The platform for smart contracts and decentralised applications that enables various use cases and innovations in the crypto space.
Aave (AAVE) - A top DeFi protocol and lending platform that allows users to lend and borrow various cryptocurrencies with smart contracts without intermediaries.
Potential Winners of the Next Crypto Bull Run
While it’s challenging to predict which cryptocurrencies will emerge as winners in the next bull run, a few standout projects are showing promise when it comes to offering massive profit potential. Here are some cryptocurrencies worth considering:
1. Pikamoon (PIKA)
Pikamoon ($PIKA) is the newest GameFi token set to soar in this bull run. While GameFi tokens like SAND and AXS rose past the $1 billion market cap mark in the previous bull run, PIKA is proving to be the token of 2024 for achieving such feat.
In turn, what this means for holders is potential 100x gains as Pikamoon (the game) garners mass adoption.
However beyond the 10-figure scope of the GameFi industry, PIKA also possesses a whole host of gamified utilities. This is because it’s the native currency of the Pikaverse (Pikamoon’s all encompassing metaverse), a virtual world where players can buy, earn, sell, and spend $PIKA in the Pikamoon Store, as well as access exclusive NFTs with premium play-to-earn (P2E) features.
Players can also use PIKA to buy land, weapons, spells, and other items to enhance their gaming experience and increase their rewards.
PIKA is currently in its Presale stage, with only 15 billion tokens out of the 50 billion total supply available for sale (and only 23% of that remaining). That means investors can purchase the token at its essential bottom of $0.0006. Once sold out, PIKA will then launch with a $10 million market cap - a figure that boasts massive growth potential given that it’s 30x smaller than that of rival GameFi tokens.
Pikamoon can be compared to other successful play-to-earn games, such as Axie Infinity, which saw its native token AXS pump to a peak of $156.22 in November 2021. In fact, PIKA has a lower token supply and initial price of AXS, which means it has more room to grow and surpass Axie Infinity moving forward. Of course, the catalyst behind this will be the explosion of GameFi, as well as PIKA’s pinoeering of such genre of Web3 gaming.
2. Bitcoin (BTC)
As the pioneer and most popular cryptocurrency, Bitcoin is likely to maintain its dominance in the market. Bitcoin offers a safe and scarce alternative, with a fixed supply of 21 million tokens and a predictable halving schedule that reduces the inflation rate every four years. Bitcoin has attracted various types of investors over the years, from retail to venture capital to institutional.
After a slow few years, it’s gaining global traction as more institutions invest in it as a hedge against their own failing financial systems and currencies. While it's unlikely to give 10x returns, some experts already predict that the world's first cryptocurrency will be another primary winner of the next bull run.
The next phase of the crypto bull run could be driven by the mass adoption of Bitcoin as the world realises its potential and value. Some analysts predict that Bitcoin could reach as high as $600,000 in this cycle, which could last until 2027, depending on the liquidity conditions and the interest rate policies of the central banks. Bitcoin is also poised to benefit from the possible approval of a spot Bitcoin ETF in the US, which would increase its accessibility and legitimacy.
3. Uniswap ($UNI)
Uniswap Protocol Token (UNI) is another one of the most promising crypto projects. It is the governance token for Uniswap, a pioneer and leader in automated market making (AMM). AMMs are smart contracts that facilitate decentralised crypto trading by creating liquidity pools of different tokens and allowing users to swap them at algorithmically determined prices.
Moreover, it is one of the most popular and widely used DeFi protocols, with over $4 billion in total value locked and over $1 billion in daily trading volume. Uniswap allows anyone to trade crypto with just a wallet, without needing to sign up or provide personal information. Uniswap also supports a variety of tokens, including ERC-20, ERC-721, and ERC-1155 standards.
Uniswap is constantly innovating and improving its platform, with the latest version, Uniswap V4, offering more flexibility and efficiency for liquidity providers and traders. Uniswap is also expanding its reach by integrating with other blockchains, such as Optimism, Arbitrum, and Base, to enhance its scalability and interoperability.
4. Ethereum (ETH)
While the world's second-largest cryptocurrency by market cap is unlikely to shoot up by 100x, it still has serious growth potential. Ethereum's first mover advantage to allow smart contracts and decentralised applications (dApps) gives it a massive advantage over competitors. Ethereum has a strong network effect and a loyal community that supports its development and adoption.
Ethereum is also undergoing a major upgrade, known as Dencun, which will transition the network from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. This will make Ethereum more scalable, secure, and energy-efficient and introduce a deflationary feature that will reduce the supply of ETH over time. The final testnet for Dencun already occurred on February 7, 2024, and the mainnet launch is expected later this year.
Another catalyst for Ethereum's growth is the possibility of a spot Ethereum ETF (exchange-traded fund) approval in the US. While the SEC has approved several spot Bitcoin ETFs, Ethereum's status as a security or a commodity is still unclear. However, some analysts believe that a spot Ethereum ETF could be approved by May 23, 2024. This would increase the demand and liquidity for ETH and its legitimacy and accessibility for mainstream investors.
Crypto analyst Michaël van de Poppe predicted that Ethereum could reach $3,500-4,000 in the next three to six months, representing a 72% increase from the current price.
5. AAVE Protocol
Aave (AAVE) is a top DeFi protocol and lending platform. It allows users to lend and borrow various cryptocurrencies with smart contracts without intermediaries. Since its inception in 2017, Aave has continuously innovated and improved its platform, with the latest version, Aave V3, offering more flexibility and efficiency for liquidity providers and borrowers.
Aave has a total supply of 16 million tokens only, of which 14.7 million are already in circulation. This creates a scarcity effect that could drive up the demand and price of AAVE. Aave also has a robust insurance fund, the Safety Module, that protects users from potential losses due to smart contract failures or liquidation events. The Safety Module is funded by staking AAVE tokens, entitling the stakers to earn rewards and governance rights.
Most importantly, Aave has over $6 billion in total value locked (TVL) on Ethereum alone. It also has a high crypto market share and trading volume among DeFi lending platforms.
Aave is well-positioned to benefit from the growing demand and adoption of DeFi, especially as more real-world assets are tokenised and integrated with the protocol. Aave could reach $100 in the next bull run, about 10x to 12x from the current price. However, it could also go much higher, possibly 50x to 100x, by 2025 as it continues to innovate and dominate the DeFi space.
Now that you know the potential winners of this bull run, this brings us to another very pertinent question...
What Are the Key Indicators to Watch for Predicting Crypto Winners
Below are some common indicators investors and traders use to predict crypto winners and capitalise on the bull run.
- Pre-sale Stage: This is when new tokens are offered to early investors at discounted rates before public exchange listing. Such presales allow investors to join promising projects early while crypto founders gain essential funds and feedback. The presale stage can be a good entry point to get the token at its bottom, as the token price is usually lower than the public sale or the exchange listing price.
- Bitcoin Dominance: This shows Bitcoin's share relative to other crypto currencies. During bull runs, dominance drops as more money flows into alternatives. This shows that investors are more willing to take risks and diversify their portfolios with other cryptos, especially those with innovative features or use cases. A low Bitcoin dominance can signal a bullish sentiment for the overall crypto market and the potential for higher returns from altcoins.
- Relative Strength Index (RSI): This measures whether an asset is overbought/oversold, indicating wider bullish or bearish sentiment. The RSI index ranges from zero to 100, with values above 70 are overbought and values below 30 considered oversold. When the RSI is overbought, the asset trades at a high price relative to its recent history and may be due for a correction or a reversal. When the RSI is oversold, the asset trades at a low price relative to its recent history and may be due for a bounce or a recovery.
- Moving Averages: These track an asset's average price over time, such as 200, 50, or 20 days. They can help identify trends, support and resistance levels, and potential reversal points. Moving averages smoothen out any price fluctuations and show the direction and strength of the price movement.
- Historical Precedence and Similarities: This involves comparing the current price movements and patterns to previous cycles, such as the 2021 bull run, and looking for similarities and differences. This can help investors anticipate the possible scenarios and outcomes of the current cycle, as well as the timing and magnitude of the peaks and troughs. However, historical analysis does not guarantee future performance, as new factors or events may affect the market differently.
- The Stock-to-flow Model: The S2F model quantifies scarcity by comparing existing supply to new production, forecasting price increases as halvings reduce new coin issuance. While in the past, the S2F model has been used to assess the value of precious metals such as Gold and Silver, crypto market experts have increasingly been applying it to Bitcoin to predict its price and future trajectory.
Is the Greatest Crypto Bull Run Round the Nook?
Yes, the greatest bull run is just around the corner. Here's why we believe that might be exactly so...
1. Bitcoin Halving Is Taking Place THIS April
Bitcoin is the most valuable cryptocurrency in the world. It has a limited supply of 21 million, which are created by bitcoin mining.
However, every four years, the reward for mining is cut in half. This is called a halving event, making Bitcoin more rare and precious. The next halving event will happen in April 2024, when the reward will decrease from 6.25 BTC to 3.125 BTC per block. This will also reduce Bitcoin's inflation rate from 1.74% to about 1.1%, making it one of the best stores of value in the world.
Why does this matter? Because halving events greatly impact Bitcoin's price and market sentiment. They create a situation where the supply of new Bitcoins is lower than the demand, which drives up the price and attracts more investors. As has happened in every other halving event, this leads to a bull market of rising prices and high confidence.
2. The Diminishing Returns Theory Isn't Always Valid
The Diminishing Returns Theory assumes that the crypto market is a closed system that follows a linear trend of diminishing returns every cycle. However, the crypto market is an open system influenced by external factors such as innovation, adoption, regulation, and geopolitics.
These factors can create nonlinear and exponential effects, boosting the crypto market to new heights. For example, the emergence of decentralised finance (DeFi), non-fungible tokens (NFTs) and GameFi has created new use cases and value propositions for crypto, attracting more users and capital.
3. Regulatory Events Could Push Crypto Prices Higher Than Ever
Thanks to the US SEC's ETF approval, Bitcoin has already seen a massive rally. This February, it pushed past the $50,000 mark for the first time since November 2022.
And there's more positive news: Ethereum ETF approval is also on the cards this May. This could lead to the greatest bull run around the corner because it could create a positive feedback loop that will amplify the growth and adoption of crypto.
Such approval will increase the liquidity, accessibility, and legitimacy of crypto, attracting more investors and institutions to the market. This could further increase the demand and price of crypto, creating a virtuous cycle that will propel the crypto market to the greatest bull run ever.
To support our answer, we will also mention some insights from Michaël van de Poppe, who recently echoed similar thoughts on X (formerly Twitter) in a recent post:
- He thinks Bitcoin could peak at $250,000 or $600,000, invalidating the diminishing returns theory.
- He estimates that the likely scenario is that we'll peak in Q3/Q4 2025, but he also suggests that the bull cycle could last longer until 2026 or 2027 if the liquidity remains valid.
- He predicts that after the peak, we'll get a destructive crisis and crash like in 1929 and 1930, leading to a decade of deflation, disruption, and a flight to safety with Bitcoin and Gold.
The gist of the discussion is that the next crypto bull run is around the corner, but it may not look like the previous ones. It could be driven by a combination of technological, financial, and social forces that will create a paradigm shift in the global economy. It could also be more volatile, unpredictable, and diverse as new crypto projects and platforms, such as Pikamoon, emerge and compete for market share. It could also be more challenging as the crypto market faces more scrutiny, regulation, and competition from traditional institutions and governments.
Conclusion
The next crypto bull run in 2024 is shaping up to be the most exciting and transformative one yet as the industry matures and innovates in different domains.
GameFi, which combines gaming and decentralised finance, is one of the most promising areas of innovation, offering tangible growth potential and user engagement. Among the newest entrants in this field, Pikamoon (PIKA) is leading the new wave of web3 gaming, offering tangible rewards to potentially become the biggest winner.
This will enable the crypto space to offer new opportunities for investors, developers, and users alike. And remember, the greatest crypto bull run may be around the corner, but it will also require careful analysis, research, and risk management to navigate the volatile and unpredictable market.
Crypto’s Next Winners - FAQ
When will the next crypto bull run happen?
Judging by the recent developments, such as the BTC skyrocketing past the $50,000 mark for the first time since November 2022, we can safely say that the crypto bull run has started.
A crypto bull run characterises a period when the prices of crypto assets are stable and consistently rising. Most leading industry experts share the same view and expect BTC to hit a new all-time high within the next few months.
How long will the next bull run last?
While no one knows the exact timeframe, crypto experts like Michaël van de Poppe believe this crypto bull run will last longer than all previous bull runs, extending into 2026 or even 2027.
This is based on the historical pattern of Bitcoin's four-year cycle, which is influenced by the halving events that reduce the supply of new coins. According to some predictions for 2024’s upcoming bull run models, such as the stock-to-flow (S2F), Bitcoin could reach over $100,000 by Q2 2024.
How can I make the most of a crypto bull run?
To make the most of the crypto bull run, you need to invest early in cryptocurrencies with the most potential. While you can go for BTC and ETH as they are somewhat stable and have the largest market share, you can also explore other options that offer higher returns but also higher risks.
For example, PIKA is a new project that aims to create an AAA P2E gaming experience just like Axie Infinity. It is currently in the early ICO stage, which means you can buy its tokens at a low price before they are listed on exchanges.
What are the biggest potential winners of the new bull run?
There are several great projects that could benefit from the new bull run, depending on their innovation, adoption, and market demand. We mentioned only 5 in the write-up above, but there are many more that you can research and compare.
That being said, look out for Pikamoon and its native PIKA token as it launches across exchanges.
Disclaimer: This information in this article does not constitute investment advice and is only intended for educational purposes.
