Monday, February 26, 2024

Top 5 Google Bard’s Cryptocurrencies to Buy in New Year 2024

HomeCryptoTop 5 Google Bard's Cryptocurrencies to Buy in New Year 2024

New York – As 2023 draws to a close, all eyes are on the cryptocurrency landscape in the new year. With crypto notorious for its volatility, investors wonder which digital assets have the most potential heading into 2024.

To glean expert insights, I turned to the hottest new AI chatbot on the block – Google Bard. Programmed with the latest data and analysis, Bard rendered its top 5 cryptocurrency picks for the start of 2024.

#1 – Bitcoin (BTC)

It’s no shock that Bard’s first selection was Bitcoin, the OG crypto that started it all. Despite its recent fluctuations, Bitcoin remains the most widely-adopted and recognizable digital currency.

Bitcoin has weathered many storms since its inception in 2009,” said Michael Hart, crypto analyst at Blockchain Capital Advisors. In 2024, I expect Bitcoin to continue providing a reliable store of value given its limited supply and resistance to inflation.

Bitcoin currently trades around $43,600, down slightly day-over-day but up 6% over the past week. Longer term, Bitcoin has gained 160% in 2022 as institutional investors warm up to crypto. With major companies like Tesla and MicroStrategy holding Bitcoin on their balance sheets, credibility continues growing.

“Bitcoin still has a long runway as a digital version of gold,” added Lee Reiners, professor of fintech at Duke University Law School. If inflation persists, Bitcoin’s haven status should drive prices higher in 2024.

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#2 – Ethereum (ETH)

Bard’s second recommendation was Ethereum, the leading smart contract platform for decentralized apps and services. Ethereum is transitioning from an energy-intensive proof-of-work model to a more eco-friendly proof-of-stake protocol.

This technical upgrade will boost Ethereum’s capacity while reducing costs,” explained Alyse Killeen, founder of Stillmark. “As more developers build on Ethereum, greater utility should translate to higher valuation.”

Ethereum is currently valued around $2,300, ticking down slightly today but up 10% over the past month. ETH has surged 88% in 2022 amid a flourishing ecosystem of Ethereum-based applications.

“Ethereum powers most major DeFi, NFT, and metaverse projects,” noted Anita Posch, investor at Apoint3D. “With so much innovation happening, Ethereum has barely scratched the surface of its potential.”

#3 – Cardano (ADA)

Next on Bard’s list was Cardano, a challenger network designed for sustainability and scalability. Cardano uses a proof-of-stake consensus mechanism called Ouroboros that allows faster and cheaper transactions.

“Cardano has made major strides with the Vasil hard fork upgrade,” explained Simon Kim, CEO of Hashed. “DeFi and dApp deployment is accelerating, which grows Cardano’s utility and value proposition.”

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Cardano’s native token, ADA, currently trades around $0.60 – up 8% in the past week but down from its all-time high above $3 last year. Despite recent weakness, Cardano has ambitious plans for 2024.

“Cardano is methodically building the infrastructure to power the future of finance,” said Colin Pape, founder of Presearch. “With so much room for adoption, I can see multi-fold growth potential for ADA next year.”

#4 – Solana (SOL)

Bard’s fourth pick was Solana, a high-speed layer-1 blockchain that has taken the crypto industry by storm. Solana can process over 50,000 transactions per second with average fees of just $0.00025.

“Solana is one of the fastest and most scalable blockchains in existence today,” highlighted Stani Kulechov, CEO of Aave. “This makes it ideal for building Web3 applications from DeFi to gaming that require throughput and low latency.”

SOL, Solana’s native currency, currently trades around $115 – up 65% this past week on renewed investor interest. Solana has faced technical snags this past year but remains a top contender.

Betting against Solana’s vibrant community of builders would be foolish,” said Neeraj Khandelwal, co-founder of CoinDCX. “SOL should continue marching higher in 2024 as real-world usage grows.”

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#5 – Polygon (MATIC)

Rounding out Bard’s top 5 was Polygon, a scaling solution for Ethereum that enables faster and less expensive transactions. Polygon has quickly become the go-to hub for Ethereum-compatible blockchains.

“Polygon provides a ready-made backend for developers building on Ethereum,” explained Kain Warwick, founder of Synthetix. “With so much DeFi innovation shifting to Polygon, MATIC has enormous growth potential as its utility expands.”

MATIC, Polygon’s native token, currently trades around $0.88 – up 13% over the past month but down from its $2.92 peak in December 2021.

“Polygon is laser-focused on maintaining its first-mover advantage as the Internet of Ethereum blockchains,” said Sandeep Nailwal, co-founder of Polygon. “Adding interoperability, zero-knowledge rollups, and more will continue differentiating Polygon in 2024.”

The Road Ahead…

While risks certainly abound in the volatile world of crypto investing, Bard’s picks represent established players with promising outlooks for 2024. As always, conducting thorough due diligence is advised before allocating capital. But these five crypto assets offer enticing opportunities to participate in the exponential growth of decentralized digital finance.

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Mezhar Alee
Mezhar Alee
Mezhar Alee is a prolific author who provides commentary and analysis on business, finance, politics, sports, and current events on his website Opportuneist. With over a decade of experience in journalism and blogging, Mezhar aims to deliver well-researched insights and thought-provoking perspectives on important local and global issues in society.

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