As the crypto bull market eases midway through the second quarter of 2024, analysts are stepping forward to fight the FUD with new super bullish altcoin forecasts.
Popular crypto account Altcoin Daily was out earlier this week with a long list of forecasts.
My 2024 BULL RUN PEAK PRICE TARGETS! 🎯 #crypto$BTC – 120,000$ETH – $8,800$SOL – $720$LINK – $120$BNB – $1800$ICP – $460$TAO – $2,100$ADA – $9$INJ – $220$RNDR – $80$DOT – $99$ONDO – $12$XRP – $5$DOGE – $1.90$TON – $35$AVAX – $350$TRX – $2$NEAR – $130$PROPY -…
— Altcoin Daily (@AltcoinDailyio) May 7, 2024
They see Bitcoin (BTC) hitting $120,000, Ether (ETH) hitting $8,800 and Solana (SOL) hitting $720.
That would mark nearly 100% gains for Bitcoin, last at $60,600.
For Ether and Solana, that would mean gains of 200% and 400%.
Popular crypto analyst Deezy.eth was recently out with his own forecasts.
2024 PRICE TARGETS 🚀$BTC – $94,000$ETH – $6,900$SOL – $420$ADA – $5.90$DOGE – $0.50$XRP – $1.80$AVAX $220$LINK $50$HBAR $1.00$RNDR $37$NEAR $20$MATIC $2.50$ICP $30$TIA $50$DOT $29$VET $0.25$SUI $4.20$APE $5$AGIX $4.20
Where was I too bullish, where was I too…
— Deezy.eth (@deezy_BTC) May 7, 2024
He sees Cardano (ADA) rallying 13.25x or 1,225% from its current levels at $0.445 to $5.90.
He also sees XRP (XRP) exploding to $1.80 and Dogecoin (DOGE) rallying to $0.50. That would mark respective 260% and 250% rallies.
Crypto Bull Market Takes a Breather
These super bullish altcoins forecasts are emerging at a time of elevated FUD in the crypto market.
Most altcoins and meme coins were pumping in February into March as Bitcoin broke to new record highs above $70,000.
But as optimism about/demand for spot Bitcoin ETFs subsided and macro headwinds have built up, sharp corrections have been seen across the market.
While BTC is only down around 17% from its March record highs near $74,000, many altcoins have seen steeper drops.
Solana is down 30%, XRP is down 32%, Dogecoin is down 37% and Cardano is down 45%.
The April halving failed to trigger an immediate market rally, as, to be fair is historically the case.
Post-halving rallies in BTC don’t typically get started for 4-6 months.
And this post-halving lull in the market coincides with the coming summer season, which typically brings consolidation for crypto.
So, immediate rallies are not to be expected. But few would deny that the market remains midway through a new bull market.
That being said, 10x Research recently warned that token unlocks could hobble the altcoin rally if VCs choose to dump.
Beware of Token Unlocks. Will Venture Capital Funds cut this Altcoin cycle short?
👇1-12) The current cryptocurrency bull market cycle might be shorter than previous ones and unlikely to culminate in a broad altcoin rally. Are the crypto venture capital funds to blame?
👇2-12)… pic.twitter.com/nICNYmtDyK
— 10x Research (@10x_Research) May 8, 2024
Altcoin investing has a lot of potential. But so does an the often-overlooked strategy of investing in crypto presales.
Crypto investors parsing through the altcoin market for opportunities should also check out the presale market.
Here are 20 of Cryptonews’ top picks for 2024.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
