3 Best Cryptos to Buy for the Next Bull Run: March 2024

The cryptocurrency rally continues in full swing, with the price of Bitcoin (BTC USD) recently reached an all-time high of $69,202. The rally in BTC and other cryptocurrencies has accelerated since the US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin exchange-traded funds (ETFs) for the American market in January.

Since last October, the price of Bitcoin has increased by almost 160%, with 44% of that increase coming in February of this year. Other cryptocurrencies, both large and small, are also seeing sharp price increases as investors return to riskier assets amid expectations that interest rates will fall in the coming months and the U.S. economy shows signs of resilience. Here are the three best cryptos to buy for the next bull market: March 2024.

Bitcoin (BTC)

Analysts are revising their Bitcoin price forecasts after it hits an all-time high of $69,202 on March 5. Some market observers are now predicting that Bitcoin price will surpass $150,000 by the end of the year after the largest cryptocurrency by market capitalization surpassed its previous all-time high of $68,999.99 in November 2021. Bitcoin fell almost 10% after briefly touching its new all-time high, but quickly recovered. Analysts say the sharp downturn is likely due to profit-taking at historic highs.

Investors remain bullish on Bitcoin after the price rose 52% so far in 2024, testing all-time highs. Analysts quote persistent tailwind This is likely to drive the price of BTC even higher in the coming months. Spot Bitcoin exchange-traded funds continue to see strong inflows. At the same time, Bitcoin is expected to benefit from lower interest rates and an upcoming halving event in April, where the speed at which Bitcoins are issued and rewards for miners will literally be halved.

Dogecoin (DOGE)

Love it or hate it, Dogecoin (DOGE-USD) has been on fire lately. So far this year, the price of DOGE is up 70% Meme coin trading is growing and the cryptocurrency rally is expanding beyond Bitcoin. Market data shows that trading in meme coins like Dogecoin increased by 61% in February this year as more than $6.4 billion worth of the cryptocurrency changed hands. Meme coins are cryptocurrencies based on popular internet memes. Unlike other cryptocurrencies like Bitcoin, meme coins have no practical function.

In the case of Dogecoin, which is simply an image of a cartoon dog, the inventor admits that he created the digital token as a joke. This fact has not stopped retail investors from investing in meme coins as the cryptocurrency rally accelerates. The price of Dogecoin has increased by 59% in the last month. Futures trading in DOGE Just set a record, with a volume of $1 billion, with 70% of bets on the long side. At the same time, short bets against Dogecoin lost $40 million in early March as the meme coin’s price continued to rise.

Ethereum (ETH)

Bitcoin isn’t the only mainstream cryptocurrency seeing rapid growth. Year to date, ether (ETH-USD), the second largest digital asset by market capitalization, has experienced its Price increase 64% to a multi-month high of $3,850. Ethereum is rising on speculation that US regulators will also approve spot ETFs tied to its price later this year, as they did for BTC. Ethereum price is now above $3,000 for the first time since April 2022 as excitement around potential ETFs grows.

Ethereum price rises on US Securities and Exchange Commission expectations Approve spot Ethereum ETFs until this summer. The Wall Street regulator approved spot Bitcoin ETFs for the US market in January and now faces a late May deadline to approve similar Ethereum ETFs. Analysts see ETF approval as a major catalyst for Ethereum as it would allow people and institutions to invest in the cryptocurrency without having to own physical tokens in a digital wallet.

At the time of publication, Joel Baglole did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.