4 Altcoins To Buy In Halving Week To Turn $10,000 Into $1 Million In 2024

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During the market downturn, some investors are now turning their attention towards specific alternative coins for purchasing, taking advantage of potential bargains and the chance to implement dollar-cost averaging (DCA) before the upcoming Bitcoin halving event.

These alternative coins, including Ethereum (ETH), Shiba Inu (SHIB), Core (CORE), and Mantra (OM), are indicating more robust recoveries in the coming days based on recent market trends.

With dedication and effective investment strategies, it’s possible for some investors to expand a modest crypto portfolio into a $1 million fortune, even if it’s a challenging goal for most. This can be significantly facilitated by a strong bull market in the cryptocurrency sector.

To invest wisely with a $10,000 budget, consider allocating the funds equally among the chosen altcoins: Ethereum (ETH), Shiba Inu (SHIB), Core (CORE), and Omni (OM). Set aside some portion of your portfolio for a stablecoin like Tether (USDT) to maintain balance and stability.

Owning USDT in your investment portfolio is highly recommended because it enables you to take advantage of price dips and acquire more assets at affordable costs. For instance, Ethereum’s recent drop below $3,000 presents an opportunity for investors to buy more tokens, thereby reducing their average purchase price and eventually maximizing profits.

1. Ethereum (ETH)

On Tuesday, Ethereum remained strong above the $3,000 mark and reached a price of $3,050 during regular US trading hours. Despite this, there was a slight decrease of around 3% in its value over the past 24 hours.

Trading volume for Ethereum has risen slightly to $22 billion, indicating a rising curiosity amongst traders to sell Ethereum. Conversely, the downward trend persists, reducing Ethereum’s total market value to $366 billion.

Based on the current RSI reading of 35 for the neural network and its downward trend, there could be an increase in selling activity imminent. While the technical support level at $3,000 remains valid for now, it may not hold for much longer. Therefore, it would be prudent to consider taking defensive measures and prepare for potential further declines towards the $2,000’s.

4 Altcoins To Buy In Halving Week To Turn $10,000 Into $1 Million In 2024

In simple terms, the four-hour chart indicates that Ethereum’s sellers have significant control over its price. At present, Ethereum is beneath all three crucial bullish indicators – the 20-day EMA, 50-day EMA, and 200-day EMA (represented by the blue, red, and blue lines on the chart). If this trend continues, the price could potentially drop towards $2,500.

2. Shiba Inu (SHIB)

Over the past week, Shiba Inu Coin experienced a considerable decrease in value, falling more than 20%. As a result, its price fluctuated between $0.0000191 and $0.000028. This latest decline adds up to an overall 18% drop in value during the past month, indicating a prolonged downtrend for this cryptocurrency.

Meme coins like Dogecoin, Shiba Inu (WIF), and PepeCoin have seen their prices fall by double digits recently. This trend is part of a wider market pullback that has affected many other meme coins.

4 Altcoins To Buy In Halving Week To Turn $10,000 Into $1 Million In 2024

The SHIB meme coin has seen a huge increase of 489.87% in the number of tokens burned in the past day, amounting to 19,345,086 SHIB tokens being destroyed according to Shibburn X data. This marks a substantial attempt to decrease the total supply of SHIB tokens currently in circulation. This surge in burning activity coincides with unstable prices for SHIB cryptocurrency, which has recently experienced a downward trend.

The current price of Shiba Inu Coin is encountering a major hurdle at $0.000023. Overcoming this obstacle could lead to an increase in value, potentially taking it up to $0.00003. This progression might pave the way for reaching the $0.001 mark.

3. Core (CORE)

Core is a blockchain system that utilizes the strength and reliability of Bitcoin’s technology, while also supporting Ethereum Virtual Machine (EVM). Uniquely, it brings together both Delegated Proof-of-Work (dPoW) and Delegated Proof-of-Stake (dPoS) methods for validation.

The Core design prioritizes enhancing network efficiency, minimizing potential risks from centralization, and increasing transaction speed. As a result, it offers a flexible and secure base for building and launching decentralized apps.

The price of the altcoin slumped by 19% during intraday trading, reaching a new low of $2.19. However, CORE coin’s market value remains steady at $1.94 billion, keeping it among the top 50 cryptocurrencies in terms of market capitalization.

4 Altcoins To Buy In Halving Week To Turn $10,000 Into $1 Million In 2024

To have more command over the CORE coin for purchasers, it is essential to surpass the resistance level of $2.9 first. Following this breach, there’s a good chance that CORE will recover half of its previous loss in value, potentially leading to additional growth.

4. Mantra (OM)

The innovative blockchain platform MANTRA (OM) distinguishes itself as a Level 1 Security Blockchain for seamless integration while complying with regulatory requirements. Suitable for both developers and institutional users, it provides a foundation that is freely accessible yet supports permitted applications as well.

At present, the price of MANTRA is $0.8387, representing a 2.56% increase within the last day and an astounding 95% growth over the past month. These figures highlight a robust upward momentum in the market despite Bitcoin’s current dip. As of now, MANTRA holds the 108th position on CoinMarketCap with a total market value of $668 million.

Bottom Line

Bitcoin’s halving can be considered a favorable time for investing in the cryptocurrency market. This significant event primarily affects Bitcoin, but it also tends to boost the prices of most altcoins. For example, during the previous bull run, Ethereum’s price surpassed $4,800 as Bitcoin reached an all-time high above $69,000.

If Bitcoin’s price stays above $60,000 before the upcoming halving event, it might surge past $100,000 by year-end. This rise could influence altcoins, potentially transforming a $10,000 investment into a million-dollar portfolio.

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2024-04-16 21:30