Top Cryptocurrency Picks for the Next Bull Run: Bitcoin, Ethereum, Solana, Render Token, Bittensor, Nano, Blue Kirby
The Bitcoin (BTC USD) Halving event is finally here, dropping mining rewards from 6.25 to 3,125 BTC, and the stage is set for many cryptos to take off over the next six months. If history is any indicator, Bitcoin tends to correct before the halving and then enters a frantic bull market in the months that follow. This time, the rise started early thanks to spot ETF inflows. Now if we combine that with the halving and possible Fed rate cuts, we could see parabolic gains even from today’s levels.
In my view, this is an opportune time to strengthen crypto holdings before the next surge. Bitcoin remains an obvious buy, but combining it with high-quality altcoins can enable exponential returns during the upcoming altcoin season. You always want to strike a balance between risk and reward. While Bitcoin offers lower risk, the days of massive gains may be a thing of the past. Smaller cryptos represent the high-risk, high-reward end of the spectrum, but also offer the chance to turn modest capital into potential millions.
Let’s do a refresher and explore some of the most established cryptos, as well as some under-the-radar moonshot bets that can develop vertically.
Bitcoin (BTC USD)
There isn’t much more to say about Bitcoin than what I’ve already covered. The original and largest cryptocurrency remains the primary digital payment method and store of value. While it may lack the flashy Web 3.0 capabilities of some newer projects, Bitcoin is the safest and most decentralized blockchain due to its first-mover advantage and proof-of-work model.
Its digital scarcity almost guarantees long-term appreciation. If you simply hold BTC for years, you will probably make a decent profit. Sure, it doesn’t have the sizzle of the latest meme coin. But Bitcoin is the 800-pound gorilla that anchors the entire crypto space. As institutional money flows in and adoption expands, BTC will continue to reach new highs.
Once this halving event is fully contained, I would not be surprised to see Bitcoin surpass $100,000 or more in the coming months. The programmed supply shortage combined with increasing demand is a recipe for explosive gains from current levels. While the ride will be volatile, Bitcoin remains the crypto heavyweight champion that you can buy and hold comfortably.
Ethereum (ETH-USD)
As the second largest cryptocurrency ether (ETH-USD) deserves the silver medal on today’s list. You probably already know about ETH, but let’s do a quick review. Ethereum pioneered smart contracts and serves as the backbone for much of the Web 3.0 innovation in the crypto space. From DeFi apps to NFT marketplaces, most run on the Ethereum blockchain.
This creates huge demand for ETH as users need it to pay gas fees. Ethereum has consistently outperformed Bitcoin in previous bull cycles. And given that it has become deflationary with the recent move to a proof-of-stake model, I see no reason why that outperformance shouldn’t continue this time around.
While high gas fees While this remains a concern, Ethereum’s first-mover advantage in smart contracts is hard to beat. Ethereum remains, in my opinion, the innovation center for cryptocurrencies and the second safest asset to hold long-term after Bitcoin.
Solana (SOL-USD)
Solana (SOL USD) has emerged as one of Ethereum’s biggest challengers. This blockchain offers similar functionality to Ethereum, but with much faster transaction speeds and lower fees. The compromise? Solana’s network is not nearly as battle-hardened and is suffering occasional failures and remains somewhat centralized.
Nevertheless, the Solana team has made significant progress in improving reliability and decentralization. As trust grows, SOL Ethereum has stolen market share in areas such as NFTs and DeFi. If Solana can permanently eliminate outages while advancing decentralization, it still has enormous potential.
A key advantage of Solana is that its low fees become even more attractive in bull markets. When Ethereum gas fees rise above $100 due to network congestion, many users try to avoid these exorbitant costs by using Solana instead. Not everyone wants to go to the trouble of navigating Ethereum’s Layer 2 solutions.
Solana is still a tempting “Ethereum killer” that could deliver huge returns over a long holding period.
Render Token (RNDR-USD)
The metaverse, AR/VR, 3D modeling, video games – these immersive digital experiences are driving an explosion in demand for computer graphics and GPU computing resources. And Render tokens (RNDR USD) is perfectly positioned to benefit from this burgeoning trend.
Render is a decentralized GPU rendering platform that accesses a global network of GPUs offered by everyday computer owners. In exchange for providing their GPU power, these providers receive RNDR tokens. It’s an excellent way to monetize underutilized hardware while boosting cryptos.
Render’s network has already achieved breathtaking performance 3 million images in the fourth quarter of 2023 alone. As the metaverse and virtual worlds continue to take shape, this spare GPU capacity will become an invaluable asset. As network usage skyrockets, RNDR appears poised for a surge.
Bittensor (TAO-USD)
Few AI cryptos have attracted more attention than Request sor (TAO-USD) recently. This decentralized, blockchain-based machine learning network allows AI models to collectively train and earn TAO tokens based on their contributions.
Bittensor rose from under $50 to over $730 in just five months before currently cooling off at around $480. While the rapid rally has taken a breather, I see the current price as an incredible buying opportunity ahead of TAO’s next big rise.
Why am I so optimistic? AI is undoubtedly one of the hottest sectors right now. Combining this with the decentralized architecture of the blockchain creates a uniquely powerful paradigm. As more developers embrace Bittensor and users access its network, the long-term benefits of TAO seem very tempting.
Nano (XNO-USD)
While Bitcoin and Ethereum dominate the crypto discourse, scalability issues such as slow transaction times and high fees remain barriers to mainstream adoption of consumer payments. Nano (XNO-USD) offers a convincing solution with its free, almost instant transfers.
Due to its purely peer-to-peer transactions, Nano outperforms competitors like BTC and ETH in terms of speed and cost. Nano has a highly energy-efficient network and offers a seamless user experience ideal for everyday spending once crypto payments gain wider acceptance.
To be clear: Nano does not aim to be a smart contract platform or a “world computer” like Ethereum. The focus is on seamless value transfer and fills an important niche as a payments-focused cryptocurrency. And it excels in this unique use case.
Of course, widespread adoption is still needed to realize the full value of Nano. But with a current Market cap under $167 millionIt wouldn’t take much to send XNO up exponentially from here.
Blue Kirby (KIRBY-USD)
Blue Kirby (KIRBY USD) is easily the highest risk, highest return cryptocurrency on today’s list. A meme coin “softened” by its original developers, KIRBY embodies the speculative madness of cryptos during bull markets.
However, this Fantom (FTM USD)-based project has shown surprising resilience and signs of possible revival. After the halving, the distribution of tokens is now far more decentralized while the number of holders increases. The community also remains engaged, with KIRBY trading sideways at rock-bottom prices.
Could a meme-driven mania catapult KIRBY into the stratosphere? This is entirely possible, especially when altcoin season is in full swing. With Fantom bragging about a Market cap of $2.1 billionThis niche project probably has more staying power than most memecoins.
If KIRBY reached even a $100 million valuation from its current microcap level, early investors would be in for life-changing profits. Of course, the risk of a complete flame failure is also extremely high. Definitely one of the best cryptocurrencies you can buy if you are looking for life-changing profits.
At the time of publication, Omor Ibne Ehsan 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.
Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor focused on growth and cyclical stocks with strong fundamentals, value and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can keep following him LinkedIn.
