Tom Lee, in a recent interview, has addressed concerns about the recent bearish state of the crypto market. According to Lee, Bitcoin is still in the early days of this bull cycle, and BTC could hit the $150,000 target before it ends.
Also, the pseudonymous crypto trader, Immortal, believes Solana is one of the top altcoins that could hit a new all-time high before the end of 2024. Another altcoin poised for a parabolic rise in this bull cycle is KANG, as its unique new gaming model gains traction.
Bitcoin (BTC) Still in a Bull Cycle, Tom Lee Doubles Down on $150k Target
Since Bitcoin (BTC) set a new all-time high in mid-March, the markets have been bearish. From $74k, the price of Bitcoin plunged as low as $56,500 before recovering to its current range of $62,000 to $64,000. Despite the choppy market, Fundstrat’s chief executive, Tom Lee, has said Bitcoin is still in a bull market.
In an interview, Lee explained that the current bull cycle is far from over. Lee reiterated that their prediction of the Bitcoin price hitting $150k in this bull cycle is still valid. While BTC remains a good crypto to buy, there are several altcoins poised for even bigger gains.
Immortal Calls Last Dip Before Solana (SOL) Rallies To New ATH
Solana (SOL), like many other top altcoins, has been under bearish pressure over the last seven weeks. From a yearly high of $208, the price of Solana has declined by more than 22% to trade as low as $145. Despite the recent plunge, Immortal remains very optimistic about SOL.
As per his recent analysis, Solana just witnessed its last major correction for this bull cycle. From its current range, Immortal is optimistic that SOL could trade as high as $320, making it a good crypto to buy now.
KangaMoon (KANG) Shows Remarkable Potential With Unique Model
KangaMoon (KANG) has emerged as one of the potential blue-chip cryptos of 2024 thanks to its unique blend of several trending crypto sectors. Unlike most top DeFi projects, KangaMoon has built a new hybrid platform that combines play-to-earn (P2E) and a protocol for social interaction.
This creative new concept allows KangaMoon users to earn KANG tokens for simply participating in social activities and being active across the social media handles of the project. Users with higher network participation stand a chance to earn higher.
In order to improve the performance of its SocialFi infrastructure model, KangaMoon has entered into a collaboration with RaidShark, a community response bot that would speed up KangaMoon’s incorporation. Because this new model fosters greater community participation, it has been projected to become one of the top DeFi projects in 2024.
Built around a unique blueprint, KangaMoon has already attracted over 23,000 members who believe that it could be the best cryptocurrency investment in 2024. The native token of the platform, KANG, is currently priced at $0.025. En route to becoming a blue-chip project, analysts have set a price target of $1 for KANG.
Closing Thoughts
Tom Lee’s latest comments highlight the potential of Bitcoin as this bull cycle continues. Also, while Solana is projected to be one of the biggest gainers, KangaMoon has a strong argument for the best cryptocurrency investment of 2024, as it rallies to $1 and becomes a blue-chip project.
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