Top Cryptocurrencies to Invest in April 19 – Bitcoin, Dogwifhat, THORChain

With the Bitcoin halving event mere hours away, investors are pondering whether BTC is the optimal cryptocurrency to purchase at this moment.

The issuance rate for miners will decrease by 50% in just over 8 hours, according to nicehash.com. It will drop from the existing 6.25 BTC tokens per block to 3.125 BTC tokens per block.

This change will lower Bitcoin’s annual inflation rate to approximately 1%. In the long run, the halving will directly diminish the selling pressure in the spot market from miners, who regularly need to liquidate portions of their Bitcoin reserves to sustain their mining activities.

All of this sounds quite positive, and historically, Bitcoin halvings have been followed by significant increases in the cryptocurrency’s price.

Bitcoin Halving predicted almost on 4/20 at almost 4:20pm in 42 minutes WTF. pic.twitter.com/IIk4O4EFQT

— MartyParty (@martypartymusic) April 19, 2024

The halving in 2012 saw a 93x increase, 2016 resulted in a 30x increase, and 2020 led to an 8x increase.

However, Bitcoin’s price had never surged to new all-time highs before these previous halvings. This time, though, Bitcoin reached new record levels in March 2024, approaching $74,000.

Some analysts believe that the introduction of spot Bitcoin ETFs in January has accelerated some of Bitcoin’s anticipated post-halving rally, suggesting that there may be less potential for significant gains this time compared to previous instances.

Bitcoin (BTC) – Is It the Ideal Cryptocurrency to Purchase Now for New Investors?

Even if Bitcoin could “only” achieve a 3x increase following the halving this time, it would reach $180,000.

Moreover, the post-halving rally might be delayed for a few months, as such events typically do not commence for 4-6 months. This could indicate a temporary increase in selling pressure from miners as they adjust to a sudden decline in revenue.

Additionally, recent macroeconomic challenges are emerging. Strong US economic data and hawkish statements from the Fed have led traders to reconsider their expectations for rate cuts recently.

Nevertheless, Bitcoin’s long-term prospects appear optimistic. The halving event serves as excellent marketing for Bitcoin, reinforcing the idea that it is “sound money” and comparable to digital gold.

Furthermore, the Fed is likely to lower interest rates eventually. In the meantime, demand for spot Bitcoin ETFs is expected to provide a supportive boost. Additionally, this year’s US election may result in a pro-crypto shift in the regulatory environment.

The likelihood of Bitcoin reaching $100,000 in the upcoming quarters is strong. For any new investor in the cryptocurrency market, Bitcoin is certainly the premier cryptocurrency to consider purchasing right now.

Bitcoin halving price history:

2012: $12 at halving – $964 1 year later

2016: $663 at halving – $2,550 1 year later

2020: $8740 at halving – $55,801 1 year later

2024: $63,300 at halving…

This is the most bullish event.

Don’t let whales shake you out by pushing prices down to…

— Layah Heilpern (@LayahHeilpern) April 19, 2024

However, for investors already holding a significant amount of Bitcoin and looking to increase their risk, altcoin markets may present attractive opportunities.

While Bitcoin could achieve 3x gains in this bull market, many altcoins might experience even greater increases.

Smaller and lesser-known altcoins carry more risk than Bitcoin but also offer substantially higher upside potential, as they are generally at much earlier stages in their adoption curves.

Here are some strong performers from Monday that could also be considered the best cryptocurrencies to buy now.

dogwifhat (WIF)

Solana’s premier meme coin, dogwifhat (WIF), is attempting to recover from its recent record highs achieved on Friday.

WIF was last reported up 19% within 24 hours, making it the top performer among the top 100 by market capitalization.

According to CoinMarketCap, WIF’s market valuation has now surpassed $3 billion.

Following WIF’s strong rebound at $2.0, a sustained recovery above $3.0 could see bullish momentum develop.

Dogwifhat could be the best crypto to buy now. Source: TradingView

WIF could easily realize a rapid 60% increase from this point as it returns to late-March record highs in the $4.80s, indicating it may be the best cryptocurrency to acquire right now.

THORChain (RUNE)

The multi-chain DEX/bridge THORChain (RUNE) is experiencing a significant surge on Friday, last recorded up 13% over the past 24 hours.

Having recently found solid support around $4.40, the cryptocurrency is aiming for a quick recovery towards resistance-turned-support near $7.25.

THORChain Q1 Highlights:
+53% volume growth
+48% liquidity growth
+57% in savers growth
$8m collected in liquidity fees
$4.9m collected by interfaces
+$160m in lending collateral
New features & integrations

Read the full report on Medium: https://t.co/ar3HbCX2QI pic.twitter.com/8lyyKbRFGX

— THORChain (@THORChain) April 15, 2024

THORChain’s relatively modest market cap of under $2 billion suggests there may still be significant growth potential in this bull market. Gains of 5-10x could easily be achievable, making it one of the best cryptocurrencies to purchase now.

Crypto Alternatives to Consider

All the coins mentioned above provide potential investors a great opportunity to achieve 10x returns.

For those seeking a better chance of immediate gains, an alternative high-risk, high-reward investment strategy involves participating in crypto presales.

This is where investors acquire the tokens of emerging crypto projects to support their development.

These tokens are typically sold at a low price, and there is a long history of presales yielding substantial exponential gains for early investors.

Many of these projects are backed by excellent teams and possess a strong vision to create a groundbreaking crypto application/platform.

If an investor can identify such initiatives, the risk/reward ratio of their presale investment is quite favorable.

The team at Cryptonews dedicates substantial time to researching presale projects to assist investors.

Here is a compilation of 19 projects that the team considers to be the best crypto presales of 2024.

See the 19 Cryptocurrencies

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