Due to the bullish sentiment surrounding the Bitcoin spot ETF, further price increases in the crypto market can be expected in January.
The altcoins mentioned in this article are among the cryptos that will perform exceptionally well in January.
- The new year 2024 starts with a price breakout for the world’s largest cryptocurrency, Bitcoin (BTC), in anticipation of the approval of the first Bitcoin Spot ETF in the USA.
- This creates optimistic sentiment among crypto investors. You should watch these four other cryptocurrencies in January 2024, as they could outperform Bitcoin.
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These Are The Five Best Cryptocurrencies In January
The new year 2024 has begun, which is expected to be an excellent year for the entire crypto market.
On the one hand, this is due to bullish, market-internal events such as the Bitcoin Halving in April and the significantly improving macroeconomic situation in the USA.
Inflation is falling sharply and is already approaching the target of 2 percent. In addition, the labor market remains robust.
Both point to interest rate cuts that will positively impact the financial markets, especially the crypto market as a “risk-on” asset class.
In this comprehensive article, we delve into five promising cryptocurrencies poised for growth in January.
Explore the unique attributes and market dynamics driving these coins to the forefront. Uncover insights to help you navigate the crypto landscape and pinpoint the optimal investment opportunities.
Discover which among these stands out as the Best crypto to buy now, empowering you to make informed decisions and seize the potential for lucrative returns.
Bitcoin (BTC)
This month, the time has finally come: the SEC will approve the first Bitcoin Spot ETF in the USA.
All industry experts agree on this and may even expect approval from the SEC this week!
This explains, among other things, the recent price jump of the world’s largest cryptocurrency, Bitcoin, on Tuesday, January 2nd, 2024:
Bitcoin is exchanging above the $45,000 threshold, marking its peak since April 2022. Further price jumps are to be expected until the Bitcoin Spot ETF is approved by the SEC.
However, it remains to be seen whether the actual approval will be a “Sell the News” event. A correction is possible after the announcement until the first Bitcoin Spot ETF launch, which could start as early as January 10th.
Arbitrage (ARB)
The necessary Ethereum upgrade EIP-4844 is coming soon, leading to significantly lower fees on Layer 2 scaling solutions such as Arbitron (ARB).
In anticipation of the significant upgrade, the price is already rising significantly. Within a week, the price rose from 1.10 to currently 1.73 US dollars, which corresponds to a price increase of 56 percent:
Nevertheless, much higher rates are also possible at Arbitrum. Arbitron (ARB)’s old all-time high of $1.76 is within reach.
As soon as this is broken to the upside, ARB is in the price discovery phase, which is open to the upside. The following price target is the psychologically important level of $2.
MetisDAO (METIS)
The Layer 2 scaling solution Metis, which, like Arbitrum, is based on Optimistic Rollups and is best known for the fact that Vitalik Buterin’s mother is the CEO of the project, is also currently trendy and recently recorded an explosive price jump of over 200 percent:
This means that METIS is currently trading at just over 90 US dollars. The old all-time high was marked in January 2022 at over $300.
METIS, therefore, still has a lot of room for improvement and could increase further in the next few weeks – amid the EIP-4844 upgrade, as well as the Metis fund of $100 million that the team has set up to develop the Metis ecosystem further.
Celestia (TIA)
The modular blockchain Celestia (TIA) was one of the best airdrops last year and has already increased in value by around 500 percent since the stock market launch in November:
Nevertheless, Celestia still has a lot of potential, which is due, among other things, to the fact that many of the projects on Celestia are likely to distribute their airdrops to the community in the future, which is why there is a lot of buying pressure on TIA.
Investors are staking their TIA to receive the airdrops, which means that the amount of TIA in circulation continually decreases.
Sei Network (SEl)
The Sei Network is a novel Layer 1 blockchain based on Cosmos that is explicitly designed for crypto trading.
Twenty thousand orders can be processed per second, making the Sei Network a natural alternative to central crypto exchanges, which are under increasing pressure due to increasing regulations.
The SEl price has only known one direction since the end of December and has risen from just over 20 cents to 76 cents.
Since the cost is in a solid upward trend, further price jumps of up to over a US dollar can be expected, which is why SEl is also a top pick for this month.
Conclusion On The Best Five Cryptocurrencies In January 2024
This month, further price increases can be expected in the crypto market due to the bullish sentiment surrounding the Bitcoin Spot ETF.
The altcoins Arbitrum, Celestia, Metis, and SEl mentioned in this article could be among the cryptos that will perform exceptionally well in January and, therefore, outperform Bitcoin (BTC).
