Could the best-performing altcoins of 2024 continue their bull run?

The bull market is thriving, with the launch of Bitcoin and Ethereum ETFs this year giving a strong boost to the cryptocurrency. In November 2024, Bitcoin is delighting investors with its rapid ascent. Boosted by renewed market optimism following Donald Trump’s victory in the U.S. presidential elections, the cryptocurrency has surpassed several psychological milestones, reaching a new all-time high and edging closer to the legendary $100,000 mark.

This bullish trend reflects growing interest from both retail and institutional investors, positioning cryptocurrencies as a reliable asset for preserving and growing wealth.

The crypto market capitalization at the time of writing has soared to $3.26 trillion. Historically, after Bitcoin’s price surge, the altcoin season follows. So, which are the best altcoins to buy for the next bull run?

What is a crypto bull run?

A crypto bull run happens when the market experiences a steady rise in prices, fueled by optimism, major events, or a mix of both. Key factors like Bitcoin halvings, institutional backing, and regulatory progress often spark these upward trends.

For instance, the expected approval of Bitcoin spot ETFs in 2024 and increasing interest from big investors are driving the current surge in the market. Bull runs are characterized by increased trading volume, new all-time highs for major assets, and an influx of retail and institutional investors​. Predicting the exact timing of the next crypto bull run is challenging due to the market’s inherent volatility and the influence of global economic factors.

Cryptocurrency bull runs can vary significantly in duration. Historically, they have lasted anywhere from a few months to over a year.

The length of a bull run is influenced by factors such as market adoption rates, technological advancements, regulatory changes, and macroeconomic conditions. Understanding the duration of a bull run requires analyzing these dynamic factors in real-time.

Hence, while it’s challenging to predict the exact timing and duration of the crypto bull run, monitoring key indicators can provide valuable insights into market trends. Investors should remain vigilant and informed, considering both market signals and broader economic contexts.

What are altcoins?

Altcoins refer to all cryptocurrencies besides Bitcoin (BTC), built for unique purposes like privacy or decentralized applications. Examples include Ethereum (ETH), powering smart contracts, and Cardano (ADA), focused on sustainability and scalability. They drive blockchain innovation across industries but often carry higher risks compared to Bitcoin due to less adoption and market stability.

An altcoin rally typically follows Bitcoin’s price surge. During these periods, alternative cryptocurrencies (altcoins) often outperform Bitcoin as investors diversify into smaller-cap assets with higher growth potential. This phase is sometimes referred to as altseason. Altcoin rallies are fueled by innovations, unique use cases, and speculative interest, making them highly volatile but potentially lucrative for investors​.

Key factors to consider when choosing altcoins 

If you’re picking altcoins for the next bull run, here are the key things to consider:

Ecosystem activity and user growth. For a successful altcoin investment, check out how actively the project is evolving and how fast its user base is expanding.

Updates and new products. Be on the lookout for fresh updates or product launches. If they improve the coin’s functionality, its value could rise.

Market performance. Look at the overall health of the coin in the market — things like its current price, liquidity, how easy it is to trade, and whether it’s on big exchanges can tell you a lot about its potential. 

External risks. It’s worth considering the bigger picture too. Shifts in global politics, economic changes, or new regulations could have a major impact on the market and the altcoins you’re interested in. 

By keeping these factors in mind, you’ll be better equipped to find altcoins that have real promise for the next bull run.

Top altcoins for next bull run

Which altcoins to buy for the next bull run? We’ve analyzed cryptos that hold top positions in market capitalization. These coins stand out not just for their strong performance, but also for their potential to thrive in the next wave of growth, driven by innovations in smart contracts, DeFi, and AI technologies.

Ethereum

Ethereum continues to dominate as the leading smart contract platform, outpacing competitors like Solana and Toncoin. Its ecosystem is unmatched, with the largest developer community in the blockchain space, along with a record-breaking total value locked that demonstrates strong user confidence.

On top of that, Ethereum has solid support from U.S. regulators, which really helps strengthen its position in the market. Looking ahead, the Pectra hard fork is expected to make a big difference by improving network efficiency, making Ethereum faster, more scalable, and even more reliable.

As demand for decentralized infrastructure solutions grows, Ethereum’s dominance in the space is likely to continue.

Solana

Solana (SOL) is quickly becoming a go-to choice, all thanks to its super low transaction fees and lightning-fast speeds. These qualities make it a favorite among both developers and users, especially as decentralized apps and services keep gaining popularity.

The surge in meme coins and the expanding DeFi ecosystem have only added fuel to its growth, drawing in more users by the day. Despite challenges like the FTX collapse, Solana has bounced back, holding onto its place as one of the top five cryptocurrencies. Its ability to recover and innovate keeps it relevant in an ever-evolving crypto landscape.

Avalanche

Avalanche (AVAX) has quickly become a standout in the blockchain space, thanks to its impressive scalability, low fees, and speedy transaction processing. What sets Avalanche apart is its unique consensus mechanism, which enables it to handle thousands of transactions per second — perfect for dApps and DeFi projects looking for fast and efficient solutions.

The platform’s ability to support customizable blockchains also attracts developers seeking flexibility in creating specialized solutions. Furthermore, Avalanche’s growing ecosystem, including strong partnerships and integrations, positions it for long-term success.

Toncoin 

Toncoin (TON) has risen as one of the key players in 2024, gaining significant attention with its integration into Telegram, one of the world’s most popular messaging apps. This partnership gives Toncoin access to a huge potential user base, opening the door for much wider adoption.

On top of that, Toncoin is growing its ecosystem by introducing products like GameFi apps and new payment solutions, all designed to appeal to a larger crowd. By focusing on everyday users and tapping into the rising interest in decentralized finance, Toncoin is setting itself up to be a major player in the crypto world for the long haul.

Sui

Sui (SUI) is a next-gen blockchain created by former Meta engineers, designed for ultra-fast transaction processing and scalability. Recent updates boosted transaction speeds by 80%, leading to a 170% increase in its price and growing popularity.

Sui is quickly gaining attention from both investors and developers. Its focus on DeFi and dApps is positioning the platform for long-term success. With each step forward, Sui is drawing more attention and capital from the crypto space, signaling it’s one to watch closely in the coming years.

Risks and challenges in altcoin investments

Altcoins can bring big returns, but they come with notable risks. Here are a few to watch out for: 

Price volatility. Altcoins are known for their price swings. One minute, they’re up, the next they’re down — often driven by the latest news or changes in what investors are feeling. It’s just how the market works, but it can be a bit of a rollercoaster.

Low liquidity. Some altcoins can be hard to trade due to low liquidity, making it tough to buy or sell at the price you want.

Regulation and politics. Stricter regulations in different countries can shake up DeFi and altcoins. On top of that, political events, like U.S. elections, add another layer of uncertainty.

High competition. The crypto space is crowded, and only projects with truly unique solutions will thrive. Even big names like Solana must keep evolving.

Finally, investors should be prepared for the unexpected — whether it’s sudden regulations or political crises — that can shake up the market and lead to big losses.

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