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Bitcoin price climbed back above $44,000 yesterday amid growing optimism that spot Bitcoin ETFs will be approved in January.
At this point, after a possible approval, the BTC price is expected to reach $ 50,000, and BTC has recorded a tremendous rise in 2023.
While it has increased by approximately 170% since January 2023, some altcoins have also written their names in gold with their rise.
Solana (SOL) was at the top of these altcoins, followed by These Three Altcoins.
So, what awaits SOL, AVAX, STX and HNT, which performed well in 2023, in 2024? Analysts speaking to Coindesk evaluated these altcoins and explained their expectations:
1-To the left (LEFT):
SOL, which has increased by more than 700% since January 2023, has experienced a sharp rise since October.
At this point, Solana has performed well despite the collapsed exchange FTX and its relationship with its founder Sam Bankman-Fried.
Speaking to Coindesk, GSR senior analyst Brian Rudick said about SOL: “There were questions about whether Solana would survive after the FTX collapse, no one believed SOL would survive, but instead of disappearing, SOL thrived with increased activity on the chain and several high-profile airdrops.” “It happened,” he said.
2-Hellium (HNT):
HNT, which has increased by more than 400% since January 2023, experienced a sharp increase of up to 270% in December.
While HNT's move to the mobile field is behind this rise, Amberdata research director Christopher Martin evaluated HNT:
“2023 was a big year for Helium due to its move into the mobile sector. The network seems to have big plans for mobile and IoT. Given these plans, there are a lot of expectations for HNT to grow with the mobile network.”
Again, in general, analysts expect HNT's rise to continue, noting that traditional fund managers also show special interest in HNT.
3-Stacks (STX):
STX, which has increased by more than 600% since January 2023, experienced an increase of up to 116% in December.
Stacks, the Bitcoin layer-2 protocol, is known as the first token to receive approval from the SEC in 2019. At this point, the rise of STX is expected to continue in 2024 along with the rise of Bitcoin.
4-Avalanche (AVAX):
AVAX, which has increased by over 300% since the beginning of 2023, reached $ 45. While partnerships were behind these rises, Chris Newhouse, founder of DeFi consultancy company Infiniti Labs, evaluated AVAX.
“Avalanche's rise this year has been driven mostly by news about AVAX.
However, this success of AVAX is not just news-driven, as its recent rise has seen people move in and out of different L1s and altcoins.
Because by partnering with Apollo and JP Morgan, AVAX is shaping itself to be one of the best blockchains preferred in corporate activities through corporate partnerships.”
5-Bitcoin and Ethereum (ETH):
Finally, GSR senior analyst Brian Rudick also announced his Bitcoin and Ethereum predictions.
Stating that he expects BTC and ETH to continue to rise in the new year, the analyst said that ETF approval will also support this rise.
*This is not investment advice.