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next Bitcoin (BTC-USD) The half-life is expected to occur at some point. The reward for successfully mining a block will be reduced by 50%. This means that after the halving, a successful miner will receive her 3.125 BTC for her efforts. Due to the law of economic scarcity, the value of Bitcoin should increase further thereafter. It also suggests some short-term bets, given that Bitcoin typically spikes around halvings and then declines for a period of time.
At the same time, Bitcoin also leads the cryptocurrency market. As that progresses, so will the rest of the cryptocurrencies. Therefore, the rising tide lifts all ships, creating multiple opportunities to quickly buy and sell for profit. Let's take a look at some of those opportunities.
Solana (SOL-USD)
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Solana (Sol – US dollar) Due to Bitcoin's halving, its value should continue to rise. It should also be noted right away that Solana is fundamentally different from the other cryptocurrencies discussed below. This is a very strong project that continues to show real potential to be replaced. Ethereum (ETH-USD) in the long run. The other cryptocurrencies listed below are merely speculative in nature and tend to yield huge profits as a result.
Solana does a lot of what Ethereum does, but even better. It provides the foundation for dApps and smart contracts like Ethereum, but cheaper. It also offers superior transaction speeds compared to Ethereum.
Solana's value has already increased by 75% in 2024. This is no coincidence. Rather, it's because investors are increasingly recognizing the potential to dethrone Ethereum in the long term.
To be clear, I think Solana is a good long-term investment. However, I also feel that Solana continues to have the potential to skyrocket in the future.
Dogecoin (DOGE-USD)
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Generally speaking, dogecoin (Doge-USD) is one of the best places for speculative investors to direct their funds when a big trigger occurs. Dogecoin has emerged as the go-to speculative vehicle in the cryptocurrency space.
What it doesn't have is any real practicality. That was painfully obvious from the beginning. The creators of this work have repeatedly stated that it was never intended as more than a joke. However, Dogecoin currently boasts a market capitalization of nearly $29 billion.
Dogecoin also continues to receive strong support in the form of Elon Musk. He has been championing this project for many years, and recently he has hinted at integration with the X platform.
This relationship is another positive factor for Dogecoin in its approach to the Bitcoin halving. Dogecoin has shown time and time again its ability to deliver fast and oversized games. It is very common for Dogecoin to offer his 10% return in his 24 hours. Don't be surprised if it happens again.
Pepe (PEPE-USD)
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pepe (PEPE-USD) is another obvious speculative choice for short-term traders looking to lock in profits before the Bitcoin halving.
This is an altcoin/meme coin that generally doesn't have any utility aside from a famous name. Fortunately, that's all you need to make money trading meme coins. Pepe is incredibly cheap, currently trading at $0.000007174.
The combination of ultra-low prices and a well-known name makes Pepe: Shiba Inu (SHIB-USD). Shiba Inu exploded in his 2021 year, delivering incredible returns to investors at the time. The same thing was repeated in early 2024.
The important thing to note here is that Pepe bears a striking resemblance to the Shiba Inu. Another point is that with Bitcoin's rise, memecoins have shown time and time again their ability to deliver significant returns compared to Bitcoin. In other words, if Bitcoin rises by a few percentage points, meme coins like Pepe could rise even more. Bitcoin holdings are likely to provide a rapidly accretive opportunity for Pepe.
On the date of publication, Alex Sirois did not have (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer and are influenced by InvestorPlace.com. Publishing guidelines.
