Top crypto investor Brian Kelly anticipates a surge in altcoin prices next month, citing historical trends that suggest a strong rebound following Bitcoin’s recent rally.
Speaking on CNBC’s Fast Money, Kelly, who is the founder and CEO of digital asset investment firm BKCM, said that altcoins have historically performed well in the wake of large Bitcoin moves.
“Generally what we’ve seen in bull markets is about a month after Bitcoin moves, it starts to go to the altcoins. So we saw Ethereum breakout [Sunday] night and then Solana and then it starts to go down the list and so that’s what I would anticipate. Let’s call it January or so.”
Kelly believes the macro-economic shift is behind the upturn, as the world economies come out from under the knock-on effects of the Covid pandemic that include supply chain bottlenecks and surging inflation. The likelihood that interest rates have peaked has also boosted investor sentiment.
The risk-on attitude in the markets is already spilling down to altcoins, with tokens such as Avalanche, Dogecoin, and Celestia seeing pumps that haven’t been observed since the last crypto bull run that ended just over two years ago.
Presales of cryptocurrencies have been something of a safe haven for crypto enthusiasts during the bear market of the past two years, giving buyers an outlet to invest in interesting new projects and technologies with the added advantage of healthy returns when the coin comes to market.
What Are The Best Altcoins To Buy Now?
During the past 30 days, the top three altcoin gainers among the top 100 by market capitalization are Bonk with a 895% surge, Celestia (325%), and ORDI (308%).
Over the past year, the top gainers are Kaspa (KAS) with a 1,570% pump, WEMIX (WEMIX) with1,149% jump, and Injective (INJ) with a 1,036% surge.
So which coins might follow in their footsteps next month and through 2024? It’s unlikely that titans like Pepe, Doge and Shiba Inu will fade into the background while the rapidly emerging Bonk looks like a stronger contender next year as well.
But among a strong contingent of new challengers, these following two new boys rank highly on the radars of many top analysts:
Meme Kombat Among Altcoins Ready To Battle It Out
Meme Kombat has generated $2.6 million in its presale as it heads toward its ultimate target of $3.5 million. The inflow of funds to the coin has increased significantly recently with the brighter outlook in the crypto market.
With over $2.6 million raised through a presale price at $0.225 per token now, Meme Kombat encourages investors to actively participate. Players can place bets with their MK tokens on different games in the arena, fostering friendly rivalries in Player vs. Player mode.
We just hit $2.6 million! That big buy really pushed us🚀
— Meme Kombat (@Meme_Kombat) December 6, 2023
Is Wall Street Memes Set To Take Pepe’s Crown In 2024?
Wall Street Memes has surged 13% in the past week to lift its market capitalization to $45 million – no mean feat for a coin that only came to market at the end of September. It also boasts a vibrant online community with more than 300,000 Twitter followers.
It is inspired by the motto that ‘Greed is good’, and was designed in honor of the 2021 event that gave rise to the GameStop short-squeeze. It raised $30 million in presale, and has added a further $15 million to that total since its listing.
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