A bull run is defined as a period when the majority of investors’ demand outweighs supply, market confidence hits a peak, and prices rise. If you witness prices quickly climbing in a given market, this could be a sign that the majority of investors are becoming “bullish,” which means they are optimistic about the price increasing further. It may also mean that you’re looking at the starting point of a bull market. Bitcoin Halving appears to be fueling the next bull run in 2024. 

Investing in the best altcoins can be rewarding as they offer diversification and potentially higher returns. However, it is important to approach the altcoin landscape with caution and do a thorough research. Understanding the development team, technology, community and use case of altcoins are vital factors for making informed decisions. 

Additionally, it is essential to be updated on market trends and regulatory changes to navigate the ever-evolving cryptocurrency landscape. Investors can make informed and strategic decisions when evaluating these key factors when considering altcoin investments. Let us see some altcoins to consider buying for the next bull run in 2024. 

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Best Altcoins for Next Bull Run

Ethereum (ETH)

Market cap: $404.96 billion

Ethereum is one of the biggest altcoins on the crypto market. Of the almost $2.24 trillion that portrays the total market capitalization of the 20,000-plus crypto assets, more than 17% is held in ETH. It is a distributed computing network where users can use the blockchain to run dApps and host smart contracts. 

Ethereum critics point to high transaction fees. However, ETH is here to stay, with thousands of apps and other altcoins powered by its blockchain.

Related: How To Buy Ethereum

Solana (SOL)

Market cap: $62.75 billion

Solana gained popularity among crypto investors, helped by its lightning-fast transaction speeds and low fees. It is a blockchain platform that is highly focused on overcoming the challenges of speed and scalability faced by many existing blockchains.

On March 4, 2024, it surged by approximately 7% in 24 hours, surpassing the BNB coin and securing a higher rank among the top five cryptocurrencies. Solana has jumped nearly 16.60% in the last seven days. 

On June 27, 2024, it decreased by approximately 0.11% in 24 hours, but BNB coin surpassed and secured a higher rank among the top five cryptocurrencies due to Solana being down by 0.48% in the last seven days. 

The surge in SOL brought the digital asset to its highest point in two years, reaching levels last observed in April 2022, three months after the culmination of the bull cycle in 2021. However, it dropped slightly and landed on the fifth slot, with BNB regaining dominance shortly after March 4. 

Related: How To Buy Solana

Dogecoin (DOGE)

Market cap: $17.57 billion

Dogecoin is a dog-inspired crypto and the original meme token. True to its fame, it has been one of the most highly volatile yet rewarding investments. As of June 27, 2024, DOGE is down by 2.24% in the last 24 hours and is trading at $0.1212. 

Over the years, this meme coin has been criticized for offering a small-scale real-world utility, a centralized holder base, and an unlimited supply. However, it is tricky to debate these criticisms; DOGE has gained ground in network usage over the past year, as it has been up by around 87.62%. On top of that, it’s tough to deny the gigantic community support with the support of industry-notable celebrities such as Elon Musk. 

Related: How To Buy Dogecoin

Polygon (MATIC)

Market cap: $5.40 billion

Polygon stands out as a premier layer-2 scaling solution for the ETH blockchain. It was formerly known as Matic Network, and its primary mission is to alleviate Ethereum’s transaction costs and scalability challenges. 

Polygon offers a foundation for interconnecting and constructing scalable blockchain networks. As of June 27, it is trading at $0.5501. In the cryptocurrency ranking, it is among the top 20 cryptocurrencies.

Cosmos (ATOM-USD)

Market cap: $2.63 billion

Cosmos (ATOM-USD) is in charge of solving some slow transactions and high-cost problems. It emerged with Tendermint (software) to create an interconnected network of blockchains. ATOM—a native token of Cosmos, is a decentralized network that provides developers with open-source tools to create their own interoperable blockchains. Cosmos is working to become the “internet for blockchain.”

The Cosmos ecosystem permits blockchains to willingly share tokens and data across all the blockchains in the system. One of its essential roles is to secure the Cosmos Hub and regulate the network of the ATOM tokens obtained via a proof-of-stake algorithm. 

A recent report by the Cosmos blog focuses on the steadiness of Inter-Blockchain Communication (IBC) volume and close connections that assure high diversity in tokens and, in turn, higher liquidity. The interchain ecosystem is an area where blockchains act as joined blocks that communicate via the IBC protocol, where developers can run their rare chains as different blocks with different practicality. 

Kaspa (KAS-USD)

Market cap: $4.18 billion

Kaspa cryptocurrency was launched in 2021 by implementing the GHOSTDAG protocol, working on blockDAG for fast confirmation and high block rates. The Kaspa community projects it as a cryptocurrency that unfolds the blockchain trilemma to stabilize security, speed, and scalability. In 2023, this project encountered transformational developments, including the switch to state-of-the-art ASIC miners.

In addition, Kaspa planned listings on exchanges and launched ideas like the Kaspium mobile wallet and Wrapped Kaspa. It has ambitious plans for the future, including sophisticated smart contract functionalities, Rusy Kaspa Testnet 11 public, and exceeding ten blocks per second.

Stellar (XLM-USD)

Market cap: $2.59 billion

Stellar (XL,-USD) is a decentralized, public blockchain that provides developers with tools to create more likely cash experiences than crypto. Given its accountability for peer-to-peer connectivity to the world’s financial system, it can be a great altcoin to add to your investment portfolio in this bull run. 

Stellar’s biggest aim is to make money move easily and quickly. The network is cheaper, faster, and more energy-efficient than most systems based on blockchain. Lumens behave as mediators for transactions and keep a smooth-running system. Its strength is its security. With XLM holders holding the keys, the network is more secure for transactions. 

Stellar has lately launched some very amazing features such as Soroban and spread Lumens into positive projects through its Community Fund. Additionally, through the compassionate side of the project via Stellar Aid Assist, it has already helped those in need by sending over $2 million to them. 

Note: The market capitalization is taken from CoinMarketCap as of June 27, 2024.

Factors Driving Altcoin’s Growth

Market Demand: Altcoins are initially driven by market demands. Investors are more likely to invest in altcoins with higher growth potential. Consumer sentiments, market trends, and investors’ confidence contribute to the market demand for altcoins. 

Regulatory Policy: Regulatory policies can play an important role in the development and growth of altcoins. Regulatory bodies or governments can impose restrictions on cryptocurrency usage, which affects its demand.

Technology: The primary or basic technology behind an altcoin also affects its growth and development. Altcoins with unique features or innovative technology are more likely to gain popularity among others.

Competition: Competition is huge in the cryptocurrency market, and it can also affect the growth and development of altcoins. Altcoins offering similar features might struggle to gain market share.

Economic Conditions: Another factor affecting Altcoin’s growth and development is that in times of economic uncertainty, investors are more likely to invest in altcoins as an economic instability or hedge against inflation. 

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Over 1 Million Investors Trust Mudrex for Their Crypto Investments

Security

Mudrex is Indian Govt. recognized platform with 100% insured deposits stored in encrypted wallets

Fees

Enjoy zero crypto deposit fees and industry’s best fee rates.

Please invest carefully, your capital is at risk

Altcoin Investment Strategies for the Next Bull Run

Support strategies by avoiding decisions made with emotions involved and creating an effective investment plan that involves target prices for entry and exit. You must stay abreast of market events and news and limit your social media consumption, which often encourages greedy behavior. Let us see Altcoin’s investment strategies for the next bull run. 

Risk Management

Risk management is the initial step every trader needs to think about and learn while strategizing their investment plans, but it is generally overlooked until it’s very late. Investors need to manage risk productively by calculating how much is affordable to risk on an all-inclusive investment and then sticking to it by using a stop-loss order to limit losses when the market is not in its favor.

Investment Plan

As we know, the crypto market is highly unpredictable and volatile; it is highly recommended that you steer clear of the temptation to spring into buying at the first sign of a rally with all your savings. Carefully evaluate how much you’re willing to invest in other cryptocurrencies like Bitcoin and Ethereum and also in altcoins. 

While investing in altcoins, you may consider industries with high potential and divide your portfolio between them. For example, 30% to Real World Assets, 20% to artificial intelligence, 10% to Layer-2s etc. 

In the crypto world, real-world assets refer to the tokenization of tangible assets that only exist in the physical world and are brought on the chain. Layer 2 refers to a secondary framework or protocol built on top of an existing blockchain system. 

Then consider rupee-cost averaging into your position to benefit from any dips. 

Stick To Profit Targets

One of the major errors in investing is not being aware of when to take profits. This is accurate, especially for crypto, where the market is highly volatile and driven by social media, overnight sensations, emotion, and greed. As prices increase, set realistic targets for gaining profits and cling to them. A well-disciplined approach to profit targets can protect you from unexpected market downturns.

If you do not know where to exit, scaling out is the best strategy. Sell using rupee-cost averaging. For example, sell 25% altcoin at price points 1 and 2 each, etc. This will help ensure you make profits while still benefiting from further upside.

Diversify Your Risk 

Many investors look to altcoin for higher risk-reward assets while considering BTC and ETH as blue-chip cryptocurrencies. Given the high risk of altcoins, investors should consider restricting them to a mini portion of their portfolio. The reward opportunity is higher. So, investors still have the potential for fair gains without over-granting and exposing them to excessive downside. 

Remember that any gains can be temporary, and many altcoins are unsuitable for long-term buy-and-hold portfolios. Most altcoins usually fall out of favor between market cycles and downturns of 95%. 

This means having a logical exit strategy with your targeted price set before you enter the trade is crucial. So, if investors want to consider a portfolio with altcoins, settle it with a mixture of high-cap cryptos and altcoins to ease volatility.

Decision Making

It’s a bad investment decision based on hype or fear of missing out (FOMO). Cryptocurrency is a unique asset class because every transaction is recorded on a chain for public display. It means you have enough information and tools to help you make informed decisions instead of shifting through the tea leaves like in many other markets. 

Below are a few free tools you can use:

• AI: Put in any address for a methodical breakdown of transactions, portfolios, and more. Get an analysis of in-depth data for individual blockchains. Layer-2s, dApps, and DeFi with metrics like trade volume and total value locked. 
• Fi: It is like an antivirus scanner for detecting harmful or flawed smart contract codes or intentional rug-pulls in cryptocurrency and smart contracts. 
• Arkham Intelligence: Arkham is a blockchain observer that helps you understand the relationship between wallets. You can use it to mark shady transfers or prevent a Sybil mistake when airdrop framing. 
• Cryto-fundraising.info: This tool tracks investors’ VC funding for new crypto projects, giving them insights into the firms and the amount raised. 

Use the above tools to thoroughly research a project’s fundamentals, market position, and team. You can also do this by conducting a strengths, weaknesses, opportunities, and threats (SWOT) analysis. Always challenge your thesis and look for reasons for a project’s crash rather than information confirming your bias.

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