Four annual events Bitcoin halving It was completed on April 19, 2024. In short, Bitcoin halving is a drive to reduce the value of the profits a miner or miners can earn. The aim is to control the supply of this crypto asset so that its value does not decrease.
It has already been done 3 times before 2024. In general, the halving of bitcoin will cause the price of this crypto asset to rise, not only BTC. Usually this period is followed by an increase. Prices of other crypto assets
Here are predictions for how cryptocurrencies will rise in 2024 based on various sources:
Crypto predictions to increase in 2024
1. Bitcoin
Assuming history will repeat itself, the price of bitcoin is expected to rise after the halving. This is because in 2012, 2016 and 2020 the price of this crypto asset rose approximately 1 month to 6 months after the halving occurred (cash–
However, this price increase is generally preceded by a price decrease and then a sharp increase. In the first half of 2024, i.e. as of April 19, 2024, BTC is selling for approximately $64,000 per unit. The price of this asset then dropped to a level of US$58,000 per share on May 1, 2024. As of this writing (May 16, 2024), the price has begun to improve and has reached US$65,000 per share.
According to some analysts The price of this promising crypto asset is expected to reach $250,000 per unit in February 2025 and $450,000 per unit in May of the same year. However, it should be noted that in March 2024, this digital asset hit an all-time high price of 73,750. US dollar, combined with doubts about the Fed cutting inflation and interest rates, could mean that this year’s post-halving BTC price movement will be different from previous years.
If you look at the price above Of course, you will think that the price of BTC is very expensive considering that 1 USD is now equivalent to approximately IDR 16,000, but you need not worry. Because now you can earn bitcoins with minimal fractional value through a variety of Crypto game which are available on the internet
2. Ethereum
As the second-largest crypto asset by market capitalization after BTC, Ethereum is the crypto asset that will increase in the period 2024-2025, according to various parties. The price of ETH in 2025 is expected to reach the level of $5,000 USD per unit. The price of this asset as of March 16, 2024 is $3,008.75 USD per unit.
In addition to Bitcoin’s halving (Ethereum was also noted to have experienced a price increase after the previous halving), this was due to a number of things including the expected Dencun upgrade on Ethereum. reduce gas surcharge up to 4 times
The Ethereum blockchain also has a strong demand base. From issuing DApps, NFTs, Smart Contracts to applications. Decentralized Finance (Defi) has the potential to increase the price of this asset even more.
3. Solana
One of the trending crypto assets in 2024 is Solana, launched only in 2020. Solana was able to show resistance after falling to the FTX case in 2022. Currently, this asset is trading at a price of around USD 161 per unit, or around IDR. 2,500,000
With low transaction fees and fast execution, Solana is a rising star in the field of application development. Decentralized finance (DeFi) And NFT, combined with the possibility of releasing the latest version of the Solana application in 2025, it is possible that the price of this asset will increase tomorrow.
4. Universe
The next crypto asset to rise in 2024 is Cosmos (ATOM). This asset has a project to create and develop inter-blockchain communication (IBC), with the hope that using this IBC, one blockchain and another can ” communicate” and exchange information Therefore, the cost of crypto transactions will be lower and the process will be faster.
As reported by Coin Market Cap data, Cosmos or ATOM is currently selling for $8.41 per unit. Market movements for this asset have been volatile over the last year. They are priced at $6-13 per unit. If interested in buying this coin, you can buy it at The best crypto trading application in Indonesia– Instead of trading You can bet on Cosmos if your balance is sufficient. Cosmos offers a relatively high APY of 15.66% per annum.
5. Star
The recommended crypto coin to rise next is Stellar or XLM, created in 2014. The goal of the project that Stellar promotes is quite simple. In other words, it makes transferring money from one country to another easy, fast and cheap.
The method is quite simple: the sent funds are first converted to XLM within minutes, and then the XLM is converted to the destination currency. Therefore, Stellar’s “clients” are some of the world’s leading financial institutions.
As of May 16, 2024, this crypto asset with code XLM is selling for $0.1073 per unit or approximately IDR 1,700 per unit.
Although not at an all-time high, Stellar’s value has been relatively stable over the past 2 years. Stellar is an ideal crypto asset for those who want to invest in crypto at an affordable price and with a more acceptable risk profile.
Factors Affecting Crypto Prices
The above discussion is not intended to encourage you to purchase certain assets. But it is for reference only. In addition to technical factors, such as price changes over the past few months or the past year, there are a number of factors that could affect the value of digital assets in 2024:
1. Market demand
This includes investor confidence. General financial conditions of consumers (purchasing power), market trends. and special sentiments, for example, the closure of crypto exchanges may result in the decline of some crypto assets.
2. American government policy
As one of the largest crypto markets in the world United States government policy In this case, the Securities and Exchange Commission (SEC) will definitely have an impact on the prices of some crypto assets and the crypto market as a whole.
3. Economic situation
This is especially true of the Fed’s policy on reference interest rates in the U.S. The reasoning is that an increase in interest rates indicates that inflation is not yet under control. This also means that consumers’ purchasing power is weakening. An increase in the Fed’s interest rate could also have the effect of increasing the benchmark interest rate in other countries.
Crypto assets are high-risk investment vehicles. Avoid FOMO and use raw data before purchasing this asset.
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