After a challenging year for crypto investors, the festive season heralds not only the joy of Christmas but also some potential investment opportunities.

“After a long period of despair, [BTC] price starts to show some signs of making a turnaround,” posted CryptoCon on X, and its is currently in the ‘Hope’ phase of the crypto cycle , according to a prominent analyst. 

This means that investors are starting to believe in Bitcoin again after long despair, and the price of Bitcoin has started to show signs of recovery, and it is now trading at fair value, he highlights. 

The potential recovery of BTC could act as a catalyst for a broader sector rebound, making it a crucial period for investors to strategically position their capital. In anticipation of the upcoming quarter, Finbold identified five cryptocurrencies with the potential to dominate the next quarter. 

Solana (SOL) 

Solana (SOL) is a smart contracts platform with a unique architecture that allows it to process thousands of transactions per second while keeping costs extremely low. It’s among the cheapest cryptocurrency ecosystems on the market, as users pay less than $0.001 per transaction on average.

A few days ago, Solana’s DeFi ecosystem reached a significant milestone, with its Total Value Locked (TVL) hitting a new yearly peak of over $655 million. This marks a substantial increase of 211% since the $210.47 million TVL recorded on January 1, 2023.

SOL is currently trading at $62.24, experiencing a 42.7% price increase in the last month.

In the next phase of the market expansion, SOL is expected to reach 10% of Ethereum (ETH), according to InvestAnswers, a prominent crypto analyst. 

Assuming Ethereum tops $8,000 in the next bull market, the analyst speculates that if Solana reaches 10% of ETH’s market cap, a threshold it has already reached in the past, that would mean a $231 price target for SOL, resulting in a return on investment (ROI) of approximately 278% from the current price of $61.24. 

Ethereum (ETH)

Despite Ethereum’s (ETH) struggling to break above the $2.100 resistance level, currently trading at $2.103, it exhibits a positive trend.

Ether recorded a significant 16.2% gain, and its current positive momentum is supported by several factors, including applications for spot ETFs and the expansion of Ethereum’s ecosystem, driven by layer-2 solutions.

Furthermore, the  US Securities and Exchange Commission (SEC) initiated the review process for Fidelity’s spot Ether ETF proposal a couple of days ago. 

Similar applications from firms like BlackRock are also awaiting regulatory green light. If approved, these ETFs would bolster Ether’s status as a digital commodity, reducing the likelihood of being treated as a security and potentially driving more investors toward it. 

Bitcoin (BTC)

Bitcoin (BTC) is currently aiming to reclaim the $40,000 level as it seeks a new all-time high, primarily fueled by speculation surrounding the potential approval of a spot exchange-traded fund (ETF) by United States regulators.

The news regarding the ETF, combined with the upcoming halving event, is widely seen as a major events that could propel Bitcoin to another record high. BTC is currency trading at 38,802, gaining over 40% year to date. 

XRP

XRP (XRP) is the fifth largest cryptocurrency, with a market cap of  33.1 billion. It’s trading at $0.62, representing an increase of 1.86% in the previous 24 hours, at the time of writing.

These gains come after a week when the token lost -0.99% of its value, contrary to a 57.3% increase over the year.

In the last year, XRP’s price has increased by 53%, allowing it to outperform 64% of the top 100 crypto assets in this period. It trades above its 200-day simple moving average while experiencing 18 green days in the last 30 days.

XRP could reach $10 or $50, depending on its trajectory, according to cryptocurrency analyst EGRAG CRYPTO. 

If XRP touches a price of $10, it translates to growth of over 1530% from current levels. On the other hand, if XRP hits $50, it would mean a rally of over 8000%.

Shiba Inu (SHIB)

Finally, a more affordable option for the preparation of the potential bull market. The world-famous dog meme cryptocurrency Shiba Inu (SHIB) has re-captured investor attention after its layer 2 solution, Shibarium, saw an explosion of over 4,400% transactions in the last 24 hours.

Transactions reached 5.1 million, the highest ever recorded since its launch, according to data from Shibariumscam.  

Subsequently, the announcement SHIB increased in value to $0.00000839, marking a 1.3% increase. Shiba Inu’s market cap is $4.9 billion, making it the 18th largest crypto.

Over the last 24 hours, the trading volume of Shiba Inu has been $130.5 million, with a circulating supply of 589.3 trillion tokens.

The token is down by almost 90% from its all-time high (ATH) in 2021, but investors are hopeful that it will regain its value in the potential bull market. 

Conclusion

All things considered, the above assets have shown strength and positive developments recently, indicating that further increases could be in store for them at the beginning of next year. However, things in the crypto industry can sometimes change on a whim, so doing one’s own due diligence is vital.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.