The cryptocurrency market seems to be entering another bullish phase. Bitcoin (BTC) has reclaimed the $72,000 price point, a level last seen in March. The global crypto market cap has also risen to $2.55, climbing 0.1% in the last 24 hours.
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Why Is The Cryptocurrency Market Rallying?
Source â The Economic Times
The latest market rally could be due to market participants anticipating a positive outcome in the upcoming US Presidential elections. Analysts and financial institutions have predicted a bull run for the cryptocurrency sector if Donald Trump wins the election. Investors and traders may be pricing a Trump victory as we inch closer to election day.
Another factor that may have pushed the cryptocurrency market is Microstrategyâs profitable quarterly report. The companyâs stock, MSTR, hit an all-time high on Tuesday.
Letâs look at three crypto assets you should watch in Q4 of this year.
Top 3 Cryptocurrencies You Should Watch In Q4 2024
1. Bitcoin (BTC)
Bitcoin (BTC) is just 1.8% away from its all-time high of $73,737.94, which it attained in March of this year. Over the last week, the asset has witnessed a healthy rally, reclaiming the $72,000 level for the first time in seven months.
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Many analysts anticipate that BTC will hit new peaks if Donald Trump wins the upcoming election. A recent report by Standard Chartered stated that the original cryptocurrency could hit $125,000 if Trump gains power.
2. Solana (SOL)
Source â StormGain
Solana (SOL) is another cryptocurrency that investors should watch in Q4 2024. The asset has made quite a comeback after its 2022 price crash, when it went below $10.
Standard Chartered anticipates that SOL will outperform Bitcoin (BTC) and Ethereum (ETH) if Trump wins the election. The financial giant predicts that SOL will rally by 400% after a Trump victory, taking the asset to about $895.
3. Pepe (PEPE)
Source -CoinGape
Pepe is one of the best-performing cryptocurrencies of the last year. The memecoin has quickly climbed the top 100 charts and may continue to display a bullish performance in Q4 2024.
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If BTC continues its bullish trajectory, PEPE will likely follow suit. Given a positive market environment, the asset could hit a new all-time high in Q4.
