3 Cryptos to Sell in May Before They Crash and Burn

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By David Brooks

The sale of cryptos will continue despite the fourth Bitcoin (BTC USD) Halving and the possible approval of ether (ETH-USD) ETFs this year.

Bitcoin, the industry’s leading indicator, is only up 15% in 14 days despite the halving on April 19th. If BTC wants to reach Samson Mow, CSO of Blockstream and CEO of Pixelmatic in 2024 Target price: $1 millionit has a lot to do.

Kaiko analysts say that the recent breakup of Bitcoin could increase stress for miners as the halving reduces miner rewards from 6.25 to 3,125 Bitcoins, causing a sell-off in inventory and putting downward pressure on BTC.

Regulatory pressure, particularly from the SEC, remains. In January, the regulator approved 11 spot Bitcoin exchange-traded instruments, but lawmakers criticize their “Regulation through enforcement” Approach. The SEC fined crypto companies $2.89 billion in 2023, adding to the $5.8 billion global crackdown.

In this environment, the first choice of cryptos to sell is a meme coin with no clear use or development plan, such as Ethereum. Next up is a token linked to the volatile NFT market. This is risky as the volume of the NFT market as a whole has halved since last year. Finally, we examine why investing directly in Bitcoin and Ethereum is better than investing capital in derivatives.

Shiba Inu (SHIB-USD)

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Shiba Inu (SHIB USD) is up 186% in the last year, making it the 12th major cryptocurrency, but lacks a development roadmap like Ethereum to prepare for “Pectra” update in the fourth quarter of 2024 or solid use cases like Bitcoin.

The speculative hype can only have limited dimensions. Hence the Shiba Inu team Working on “Shibdentity” a decentralized identity project that makes discovery easier for Web 3.0 users.

So is the development team Collaboration with Zamaa company that produces security tools to create a new privacy-focused network that complements Shibarium and provides greater protection to people who hold SHIB tokens.

But for me the question of usefulness in comparison remains ripple (XRP USD), which offers solutions in the remittance industry, for example grow to $181.6 billion by 2028 from $150.8 billion in 2024.

And even if Shiba Inu decides to completely shift his focus to privacy after being raised 12 million dollars Keep this in mind for privacy-focused blockchain projects Binance (BNB-USD) recently delisted Monero (XMR USD), because privacy coins, which are intended to make transactions more anonymous, are under regulatory pressure worldwide.

ApeCoin (APE-USD)

The ApeCoin logo is displayed on a phone over $100 bills. ApeCoin stock. ApeCoin price predictions.

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ApeCoin (APE-USD) is a governance token in the APE environment, which includes the Bored Ape Yacht Club and other related NFT projects. NFT holders who owned BAYC and Mutant Ape Yacht Club (MAYC) NFTs were among the first people to receive ApeCoin. The issuance came as part of a larger effort to recognize community members and include them in the control and benefit of the ecosystem.

ApeCoin recently got a boost when Binance Japan announced that it will be listed The token increases accessibility in a key market with 8.82 million crypto accounts in 2023, up from 6.4 million the year before.

However, ApeCoin is down 63% in a year and, in my opinion, is still one of the cryptos to sell thanks to its connection to the flagging NFT space. NFT volume in 2023 was less than the half According to CoinGecko, the value increased from $26.3 billion to $11.8 billion in 2022.

During this break-in Sites like Unsellable and Harvest.art emerged to help NFT buyers get rid of their low-value NFTs.

ApeCoin will not thrive in such an environment, and unless there are regular upgrades and expansion beyond its niche uses such as staking, investors will continue to mark it among cryptos to sell.

Bitcoin Gold (BTG-USD)

A Bitcoin Gold (BTG) concept coin alongside Bitcoin (BTC).

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“Bitcoin Gold”S (BTGU.S. dollar) The aim is to make mining less controlled by switching Bitcoin’s proof-of-work method from SHA-256 to Equihash, allowing people to mine with regular GPUs instead of special ASICs, expanding the miner network.

BTG can be used for peer-to-peer transactions and mining like Bitcoin with a maximum of 21 million coins. The focus on decentralized mining makes it attractive despite problems like… 51% attacks.

Although Bitcoin is up 145% and Bitcoin Gold is up 165% in the last year, the close correlation is more of a problem than a bonus feature. Bitcoin is benefiting from catalysts like the fourth halving and January’s ETF approval, but what about Bitcoin Gold?

The situation is similar to Ethereum Classic vs. Ethereum; The price of the former increased significantly compared to Ethereum Switching to Proof-of-Stake (PoS) System. The possible approval of Ethereum ETFs will also lead to a corresponding increase in the future.

However, if I want to benefit from the potential adoption of an Ethereum ETF or the post-split situation, it seems wiser to invest directly in Bitcoin and Ethereum rather than assets similar to these big names.

At the time of publication, Faizan Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to those of InvestorPlace.com Publishing Guidelines.

Faizan Farooque is a writer for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in stock market analysis and is a former data journalist at S&P Global Market Intelligence. His passion is helping the average investor make more informed decisions about their portfolio.

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