The bull run has begun and the king crypto Bitcoin is close to smashing the $100k mark. Investors worldwide are eagerly searching for the next Bitcoin – that one cryptocurrency that could imitate Bitcoin’s meteoric success.
Picture this: If you had invested only a few dollars in 2010, you would have got 10,000 Bitcoins when its price was around $0.00099.Now it doesn’t take a genius to guess the value of 10,000 Bitcoins in today’s world.
Similarly, what if you get an opportunity to invest in the next Bitcoin? Just like those early Bitcoin investors, who became rags to riches on a relatively small investment, Imagine the possibilities!
In this article, we’ll explore the cryptocurrencies that have the potential to become the next Bitcoin.
Ethereum, Solana, Cardano: The Next Bitcoin?
Ethereum (ETH)
Ethereum (ETH) is the second biggest cryptocurrency and also known as the digital silver. Ethereum has the biggest market cap after Bitcoin. ETh has some amazing features and use cases like decentralized finance (DeFi) and non-fungible tokens (NFT). Moreover, because of its wide popularity and mass adoption, it is a perfect candidate to become the next Bitcoin.
At the time of writing, Ethereum was trading at the price of $3,133 with an intraday gain of 1.72%. It holds a market cap of $377.83 Billion. Currently, ETH is priced 35% lower than its all-time high, which suggests that it may be a good opportunity for entry.
Moreover, on the daily technical chart, the price words trading above the key exponential moving averages of 50 days and 200 days indicate the bullish momentum in the price.
Additionally, the relative strength indicator is also in the bullish zone at 62.55 which also suggests bullish moves in upcoming sessions. On the weekly time frame, ETH is trading above Key EMAs and suggests bullishness in the weekly trend.
Solana (SOL)
Solana is also known as the “Ethereum killer” due to its scalability and low transaction fees. Solana has gained traction for its high-speed transactions and growing NFT ecosystem. Solana is popular among developers building blockchain games and NFT platforms.
Moreover, SOL is doing great in terms of expanding its business and also seeing increased institutional interest, with notable partnerships and upcoming launches.
The SOL developers are also focusing on mobile applications, with new apps from Jupiter, DRiP, and PhotoFinish LIVE, as well as mobile devices like Solana Mobile’s Seeker which make Solana differ from other cryptocurrencies.
At the time of writing, Solana was trading at the price of 4241.56 with an intraday gain of 2.36%. SOL is trading 7.04% low from its all-time high price of $260.06. On the daily technical chart the SOL price was trading above the key EMAs and the RSI is also trading in the bullish zone at 73.28 suggesting bullish momentum in the SOL price.
Cardano (ADA)
Cardano focuses on sustainability, scalability, and interoperability. Cardano uses a peer-reviewed approach to development and emphasizes real-world use cases, such as digital identity in Africa.
At press time Cardano was trading at the price of $0.78816 with an intraday drawdown of 1.67%. Last week ADA surged by almost 36% and last month it was up by 120% showing bullish dominance in the trend.
Cardano is currently trading at 74% lower than its all-time high of $3.10 which is a good entry point. On the daily technical chart ADA is trading above the key moving averages and the RSI indicator is trading in the bullish zone at 79.29 suggesting the bullish momentum in the price.
Toncoin (TON)
Toncoin(TON) is a well-known cryptocurrency that has gained significant attention in the market recently. Originally developed by the team behind the popular messaging app Telegram, Toncoin is focused on enabling decentralized applications (dApps) and services.
Recently, Ton ecosystem coins like Hamster Kombat and Notcoin took the world by storm and boosted the number of Telegram users to 950 Million. This demonstrates the Toncoin’s potential to become the next big thing in the crypto space.
At the time of writing, TON was trading at the price of $5.50 with a mild drawdown of 0.18%. Currently, TON is trading 33.19% lower than its all-time high price of $8.24.
Moreover, the RSI indicator is also in the bullish zone suggesting bullishness. If the TON price breaks its previous all-time high it could start a new rally soon.
Polkadot (DOT)
Polkadot is another strong candidate for the next Bitcoin. The key feature of Polkadot is its interoperability — the ability to connect different blockchains. Moreover, it has also solved the problem of blockchain fragmentation.
At press time Polkadot was trading at the price of $6.145 with an intraday gain of 3.56%. Over the last week, it grew by almost 28%, and 42% in the last month showcasing bullish momentum.
Currently, it holds a market cap of $9.34 billion and trading at 88% lower than its all-time high of $55.00 making it a good entry point.
On the technical chart, it already broke above the key exponential moving averages and the RSI also traded in the bullish zone indicating bullish moves.
Final Thoughts
The bull run has begun, and investors are looking for the next Bitcoin. While Bitcoin remains the undisputed king of cryptocurrencies, Ethereum, Solana, Cardano, Toncoin, and Polkadot each present unique value propositions that could drive significant growth in the coming years.
Ethereum, with its robust DeFi and NFT ecosystems, Solana, known for its scalability and low transaction fees, and Cardano, focusing on sustainability and real-world applications, are all strong contenders.
However, It is crucial not to overlook the risks associated with investing in cryptocurrency.
