The fastest horses for the bull market – and it’s not just crypto!

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As a seasoned crypto investor with a decade of experience under my belt, I can confidently say that this current bull market is shaping up to be a wild ride. Bitcoin ($BTC), the undisputed king of cryptocurrencies, continues to lead from the front, and its recent surge towards $102,000 is nothing short of breathtaking.

With the ongoing bull run in full swing, savvy investors are on the lookout for top performers. In the realm of cryptocurrencies, Bitcoin ($BTC) and Solana ($SOL) could be strong contenders. From the stock market perspective, one might consider Microstrategy ($MSTR), Coinbase ($COIN), and Tesla ($TSLA) as promising investments.

Bitcoin ($BTC) is still the leader

Undeniably, Bitcoin reigns supreme among all cryptocurrencies. During this current bull run, it’s taken the lead, leaving only a handful of other digital currencies able to keep pace with its impressive performance.

The large green candle in the weekly chart signifies strong momentum driven by U.S. Bitcoin ETFs, which bought 18,000 Bitcoins on Thursday. If we look at longer-term targets, we could see prices reaching between $102,000 and $150,000 or more, making the rest of this bull market promisingly thrilling.

$SOL – the outperformer of the layer 1s

As an analyst, I find myself reporting an interesting shift in the cryptocurrency landscape. Solana ($SOL) has managed to surpass Binance Coin ($BNB) to claim the third spot in terms of market capitalization, leaving Bitcoin ($BTC) and Ethereum ($ETH) ahead, with stablecoin US Dollar Tether ($USDT) not included due to its status as a stable asset rather than a cryptocurrency.

As a crypto investor, I can confidently say that, when it comes to speed and affordability, Solana outshines many other Layer 1 blockchains, including Ethereum. With lightning-fast transaction times and fees that are almost negligible, Solana appears to be the swiftest steed in this race.

The graph for the past week indicates that SOL has breached its downward trajectory and is rapidly approaching a fresh nearby peak. Should it exceed this current peak, its next goal could potentially be the record high of $260.

Microstrategy ($MSTR) – the monster

In simpler terms, MicroStrategy (MSTR) is currently performing exceptionally well, particularly in relation to Bitcoin. This company’s performance during the current bull market has significantly outshone Bitcoin itself, with a staggering increase of 1880% since early January 2023. This suggests that investing in MicroStrategy could be seen as a strategic move to capitalize on Bitcoin’s growth.

Michael Saylor has disclosed his company’s plan to assume additional debt and purchase a substantial amount of Bitcoin over the next five years. This strategy, which involves borrowing money to buy Bitcoin, seems to be proving successful. The question now is whether there are any reasons this trend might not persist in the future.

Coinbase ($COIN) on brink of breakout

Coinbase ($COIN) functions as a way to invest in Bitcoin with leverage, while it’s also viewed as a representation of other cryptocurrencies (altcoins). This week’s 44% increase has nearly pushed $COIN past a trendline that started at the end of 2021. If this trendline is broken and the price continues to rise above, there would only be one more high price level to reach before hitting $370. From there, it could potentially reach its all-time high of $430.

Tesla ($TSLA) – the most disruptive of them all

In summary, out of all the assets discussed, Tesla ($TSLA) might be the one with the most potential for disruption. While some still view it as a car company, it’s essential to remember that it is also a significant player in AI technology. Over the next 5 years or so, given the innovative technologies Tesla is spearheading, it’s intriguing to contemplate where the $TSLA stock could reach.

In various cutting-edge fields such as autonomous taxi services, robotics, energy storage solutions, and possessing the largest AI network globally, Tesla aims to revolutionize the world by leading the charge in today’s most transformative technologies.

Examining the graph presented, it’s evident that TSLA has surpassed the boundaries of the triangle and now hovers near a significant barrier at $300. Should this level be breached, the historic high of $415 lies ahead. Furthermore, if Elon Musk’s Tesla manages to dominate the technologies mentioned, there’s a strong possibility that this stock will top the U.S. stock market in terms of market capitalization within the coming years.

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2024-11-08 18:09