Post-Halving Rally: Top 3 Cryptos Poised for a Boom

• Bitcoin's Halving Event Could Stimulate Crypto Market Recovery
• Ethereum (ETH)
• Solana (SOL)
• Cardano (ADA)

Bitcoin's Halving Event Could Stimulate Crypto Market Recovery

In the wake of a sharp downturn in the cryptocurrency market, the upcoming halving event for Bitcoin$42,260 -0.64% (BTC) in April could potentially soften the impact. The halving event is often perceived as a positive event as it decreases the rewards for BTC miners, resulting in a reduced supply. As a result, we could witness a surge in BTC's price, potentially triggering a rise in the overall crypto market. In anticipation of this highly anticipated event, investors are likely to start accumulating more of the pioneering cryptocurrency in the coming weeks. Here are the top three cryptocurrencies that may rally post BTC's halving event.

Ethereum (ETH)

Ethereum$2,315 -2.42% (ETH), the second-largest crypto project after Bitcoin (BTC), had a relatively quiet year in 2023 when compared to its peers such as Solana$104 5.03% (SOL) and BTC. However, ETH's price is expected to surge following BTC's halving event in April this year. The project is also set to launch the Dencun upgrade, which might reduce network fees significantly. Furthermore, a potential ETH ETF (Exchange Traded Fund), if approved, could also contribute to a price increase.

Solana (SOL)

Having been one of the best-performing cryptocurrencies of 2023, Solana (SOL) presented a near 1000% rally at one point in the past year. Despite the struggles of other assets, SOL's price has surged by 7.4% in the daily charts. There is a possibility that SOL will surpass its 2023 high of about $120 if the market rallies before or after BTC's halving event. Additionally, the introduction of the project's newly launched phone, Solana Saga, having already amassed 40,000 pre-sale orders, may further boost the asset's price.

Cardano (ADA)

Cardano (ADA), yet another renowned cryptocurrency, might see a rally following Bitcoin's (BTC) halving. Looking at historical patterns, ADA could replicate its performance from previous bullish phases. Although ADA is up 2.3% on the daily charts, the asset's price has dropped by over 10% in the past week, which might present a good buying opportunity for new investors.

Edited by Jonathan Stoker