The Cryptocurrencies market is recovering from its recent decline. The value of the global cryptocurrency market has reached $2.34 trillion, and Bitcoin (BTC) has recovered its $63,000 level. Concerned that Bitcoin could continue on its recent trend, investors are still determining where it will go. Though the global market cap has dropped 1.9% in the same period, most assets are once again flashing red in the 24-hour charts, indicating that the most recent surge was fleeting.
Following the early-month stock market catastrophe that destroyed roughly $2 trillion in worth, the markets are now in recovery mode. Despite the rebound, fears of a recession persist, with leading investment firm JP Morgan projecting a 35% probability of a dip.
We have developed a list of the top three cryptocurrencies to look out for in September 2024, keeping in mind that the markets are still unstable.
What Caused the Market to Rise During the Weekend?
The announcement by Federal Reserve Chair Jerome Powell of interest rate decreases starting in September 2024 is probably what caused the most recent market rise. If interest rates are lowered, investors may flood the market with cash for riskier assets like cryptocurrency. Due to the declining US inflation data, traders and investors have long expected a reduction in interest rates this year.
September 2024’s Top Cryptocurrencies to Look Out
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Bitcoin (BTC)
Given the volatility of Bitcoin, the most popular cryptocurrency, historical variables cannot be taken into account. Bitcoin’s extreme fluctuations startle investors and make them feel FOMO.
This time, if Bitcoin does not drop below $60,000, it may rise beyond $67,000. Additionally, if other Cryptocurrencies rise in tandem with it, the markets may shift into a more environmentally friendly range.
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Solana (SOL)
Despite the shaky markets, a positive feeling is building around Solana this month. Investors jumped on the bandwagon as SOL’s price surged by about 15% in only one week, pushing it up to $160.
The cryptocurrency has risen by about 700% in just a year, defying all expectations. If the top cryptocurrency keeps up its trend and Bitcoin breaks through $67,000, Solana’s next price goal is $180 to $200.
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Avalanche (AVAX)
The weekly and 14-day charts for AVAX show an almost 30% increase in value. The Federal Reserve’s dovish outlook and Bitcoin’s (BTC) recovery of the $63,000 mark may have contributed to the most recent rise.
According to statistics, the Cryptocurrencies is expected to rise over the coming weeks and reach $35.29 on August 31, 2024. If the current price levels are reached at $35.29, this would represent a roughly 31.3% rise.
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Shiba Inu (SHIB)
SHIB has also seen a positive shift in recent days. The cryptocurrency gained 11.2% in the 14-day charts and 13.7% in the preceding week.
Experts predict that this week, the cryptocurrency will surpass the $0.00003 mark and reach $0.00003265 on August 31, 2024. Regaining the present price to $0.00003265 will need a gain of almost 118.5%.
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Chainlink (LINK)
Another well-known cryptocurrency that is expected to rise in value over the coming days is LINK. LINK is up more than 21% on the weekly and 14-day charts.
On August 31, 2024, the cryptocurrency will reach $13.51, a 9.3% increase from its present price.
- Pepe (PEPE)
PEPE has performed admirably since its April 2023 start. The asset rose swiftly up the ranks to become the 31st-largest project in terms of market capitalization. But after reaching its all-time high of $0.00001717 in late May 2024, PEPE has dropped 54.7%.
September is going to be a very bullish month for the Cryptocurrencies with a theme. According to the site, on September 17, 2024, PEPE will surpass its all-time high. The asset is anticipated to increase, peaking on September 25, 2024, at $0.00002629.
- Toncoin (TON)
Toncoin was once created as a layer-1 blockchain for Telegram’s encrypted messaging service, but it was quickly shelved and eventually acquired by the TON foundation. Even the project name was altered from “Telegram Open Network” to “The Open Network,” both of which were abbreviated as TON.
The native token of TON is Toncoin, formerly known as Gram. Through the program, users may transfer, receive, and keep money on TON’s fast, green network. As of August 20, 2024, the current price of TON is $6.83.
Conclusion
Just like with any investment, it’s critical to consider your time horizon, risk tolerance, and personal objectives when selecting the best cryptocurrencies to look out in. It would also be beneficial to do your research to ensure that any cryptocurrency project you are interested in is reliable and safe.
