Bitcoin has had a strong start in 2024, with significant price movements and increased global adoption following the approval of nearly a dozen spot BTC ETFs in the US.
With the fourth halving scheduled to take place in about two months, there are high expectations for the primary cryptocurrency, with some predictions indicating a potential price of up to $150,000, marking a significant increase from the current level.
As Bitcoin heads in an upward direction, so do some altcoins. A conversation with ChatGPT led to an exploration of another viewpoint on the best-performing altcoins, turning to Perplexity – a major rival – to gain insights coming from an AI chatbot.
ETH, SOL, AVAX, and More
Perplexity identified six specific altcoins that could perform impressively in 2024. Firstly, the largest one – ETH – is expected to shine, considering its more modest 83% increase in 2023. Despite this, the blockchain behind it remains the most utilized in DeFi, NFTs, and other segments of the digital asset industry, suggesting potential for the native token to soar this year.
Furthermore, the Ethereum ecosystem anticipates more updates, and there are numerous layer 2 networks aimed at lowering transaction costs and increasing speed.
Other altcoins on the list include Solana (SOL), Avalanche (AVAX), Cardano (ADA), Chainlink (LINK), and Polkadot (DOT). SOL experienced significant growth in 2023 and is now home to many DeFi and NFT projects, despite some underlying network issues. Avalanche, Cardano, and Polkadot are also vying for a share of Ethereum’s market, while Chainlink has forged notable partnerships and entered the expanding RWA world. Its native token has recently reached multi-year highs, hinting at potential future gains.
Best Overall? Answer Repeats
Regarding the best-performing cryptocurrencies in 2024, ChatGPT’s rival cited the same answers – ETH, SOL, DOT, LINK, ADA, and AVAX – without mentioning Bitcoin. It highlighted the growing Total Value Locked (TVL) in ecosystems like Ethereum and Solana, indicating that both are expected to continue to be key players in the blockchain space.
Perplexity singled out AVAX as the underdog in the altcoin race, even though it has already surpassed DOT and LINK in market cap.
However, the popular AI chatbot cautioned that investing in cryptocurrencies is risky due to their volatility and the lack of proper regulations in many countries.
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