Maximizing your cryptocurrency portfolio involves proper risk management strategies and choosing promising coins for investment. With over 500 cryptocurrencies traded in the market, finding profitable coins could be an uphill task, but you can do that by setting up filters to screen cryptocurrencies.
Expand Your Portfolio Through Crypto Trading
Investing in cryptocurrencies has become fashionable over the last decade, but the crypto market is also prone to periods of low and high volatility. Getting the right coins just before a significant market move increases your investment performance and ensures portfolio growth. You can trade Crypto such as Bitcoin to expand your portfolio of high-value cryptocurrencies, allocate coins based on risk appetite, and secure profits when you hit your trading goals.
Explore some cryptocurrencies with the highest values in the market today and determine whether or not you should buy them.
Bitcoin (BTC)
Market Cap.: $877 billion
Bitcoin remains the leading cryptocurrency globally, holding on for over 13 years as the first and most valuable coin. Although Bitcoin hit prolonged bearish periods between 2021 and 2022, it started 2023 trading around the $16,000 mark and has since risen to over $44,000 as of February 8, 2024, representing a 275% growth in that period. Financial experts consider Bitcoin a top investment; Microstrategy bought 850 BTC worth $37 million in January to increase its holdings.
Experts predict Bitcoin to hit over $80,000 in 2024. Bitcoin has formed a rising wedge on the weekly chart, having had a series of higher highs and higher lows. The resultant breakout pushed the price from around $42,000 to over $45,000. A trend continuation presents an excellent opportunity to invest in Bitcoin.
Ethereum (ETH)
Market Cap.: $292 billion
Ethereum comes second on our list of most valuable coin picks for 2024. The Ethereum blockchain laid the foundation for decentralized finance and continues to power many valuable crypto projects, hence the impressive value of ETH (its native coin). Ethereum closed 2023 just above $2,200 but hit a new year-high price of $2,619 on January 12, 2024. The coin is also applying for a bullish move, having formed an ascending triangle bottom pattern on the 4-hour timeframe.
Source: Frimufilms via Freepik
Several projects will also be released on the Ethereum blockchain in 2024, prompting experts to predict a $3,500 high for ETH in the coming months. Now is a great time to take early positions for potential profits, as ETH is retracing its price.
Solana (SOL)
Market Cap.: $44.9 billion
SOL is the native token of the Solana blockchain, a fast and scalable blockchain providing platform functionalities for new and emerging projects. Solana has established itself as a leading blockchain in speed, low fees, and interoperability. The blockchain has institutional and retail solutions and attracts developers for new projects.
SOL has shown massive potential and trades at $102, with a daily trading volume of over $2 billion. The coin ranks 5th by market cap and has a significant resistance zone at $89. Analysts predict SOL will hit $121 by 2025. The coin also forms a wedge on the daily timeframe and could be ready for a bullish breakout. Invest carefully in SOL and track price changes in essential zones.
Memecoins
Dogecoin (DOGE), Pepe (PEPE), and Shiba Inu (SHIB) are the most valuable memecoin on our list, with market caps., of $11 billion, $406 million, and $5 billion, respectively. DOGE, PEPE, and SHIB had massive returns on their initial bullish runs but have since settled on a conservative market. Although most investors consider memecoin as having had their run, the coins are receiving more attention due to the growing acceptance by merchants and peer-to-peer payments.
These coins have the potential to benefit from a bullish run where altcoins follow Bitcoin’s bullish trend. Invest carefully in DOGE, PEPE, and SHIB; diversify your investment for maximum returns.
Binance Coin (BNB)
Market Cap.: $47.4 billion
BNB hit its all-time high price in May 2021 but has since fallen by more than 50%. Trading at $317 today, BNB holds potential for strong bullish runs as an essential token in the Web3 ecosystem, powering the Binance blockchain, which supports many promising projects. Analysts expect the coin to hit a new high in 2024 as crypto adoption increases.
BNB, despite its turbulent prices in recent months, might be in place for a significant bullish move by April/May 2024. To invest in BNB, ensure you catch a price retracement between $290 and $298 and use DCA to increase potential profits.
Stablecoins (USDC, USDT)
Stablecoins are worth mentioning because they are pegged to fiat currencies and help traders preserve their crypto portfolio from volatile markets. USDT and USDC are the leading stablecoins, with $96 billion and $27 billion market caps, respectively. Investing in these coins is often advised for traders whose local currencies are volatile, but stablecoins also carry some inherent exposure that sometimes sees their value drop below the $1 peg.
Stabilization mechanisms typically restore the values, allowing traders to maintain their portfolio value. Investing in stablecoins is worth storing your funds and performing cross-border payments.
Source: Freepik via Freepik
Other Coins
Ripple (XRP), Cardano (ADA), and Tron (TRX) are also valuable coins with promise. XRP is regaining market confidence after some regulatory ordeal: the $28 billion market cap. An increased daily trading volume shows more investors are looking that way. ADA, at an $18 billion market cap., is a leading token in the DeFi space, powering dozens of projects deployed on the Cardano blockchain. TRX comes in with a market capitalization of $10 billion.
These coins are highly regarded in crypto and are usually discussed for portfolio diversification. Invest at your discretion and ensure you use proper management strategies.
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Enhance Your Crypto Portfolio
Enhance your crypto portfolio by investing in highly valued coins. Filter your investment options by the global ranking, relative stability, and market cap. Find entry opportunities when the price retraces and secure profits at intervals so that you can stay profitable. Whether you trade the underlying price movements or buy the coins directly, implementing a proper management strategy will maximize your returns.
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