Top 10 Altcoins to Invest in 2024 : Here’s Our Picks Ready For Moonshot
Is Retail Interest in Bitcoin Fading?
Bitcoin trading volumes in the United States have recently hit levels we haven't seen since 2022. This suggests a renewed interest and potential spike in crypto market activity.
The Bitcoin Market is Heating Up
Bitcoin trading volumes
According to recent data, Bitcoin trades during U.S. market hours now make up 46% of the total volume for the year up to April. We haven't seen these kinds of numbers since 2022! The main driver behind this surge is the introduction of Bitcoin ETFs, which have brought in $13 billion since their launch in January.
Several factors are contributing to this trend. On one hand, Bitcoin ETFs have made it easier for institutional investors to access Bitcoin in a regulated way, boosting trading volumes during U.S. market hours. On the other hand, it seems like retail investor interest is fading a bit, with Google searches for "Bitcoin" in March being only half of what they were at their peak in 2021.
What Does This Mean for Bitcoin's Future?
The increase in trading volumes suggests that investors are feeling more confident about the stability and maturity of the Bitcoin market. However, it also raises questions about whether retail investors are losing interest and if this trend will last in the long term.
Currently, Bitcoin has seen a slight improvement, trading at $68,749.61, up from $66,861.11 on May 23. Could the recent dip be attributed to the SEC's approval of Ethereum ETFs?
As we move through 2024, the market experienced a bullish momentum, fueled by several positive developments. Bitcoin ETFs were approved in January, the Halving event occurred in April, and Ethereum ETFs were approved in May. All these events have been driving up the demand for altcoins.
If you're looking to invest, here are the top 10 altcoins to consider in 2024. Click below for more detailed information.
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