Steemit Crypto Academy Contest / S14W6 - Future of cryptocurrencies.

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Happy New Year, my fellow Steemians. I trust you are having a wonderful time, with your loved ones. I am happy to share with you the Future of cryptocurrencies performance in 2024

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1.- Which cryptocurrencies under $ 1 can have the best performance in 2024? Choose a cryptocurrency by its fundamental analysis. Would you recommend buying this cryptocurrency?

There are many cryptocurrencies under $1 that can have the best performance in 2024 based on how far they have performed in the past. If you check the fundamental analysis of these three cryptocurrencies mentioned below you will get to believe with me that they will perform better in the 2024 bull run.

• XRP (XRP)
• Cardano (ADA)
• Dogecoin (DOGE)

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Ripple (XRP)

XRP is one of the strongest coins that I have seen which has passed through many court cases but still getting stronger. It is a cryptocurrency that was created by Chris Larsen and Jed McCaleb.

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If you look closely at XRP price at the beginning of 2017, you will see that its price was around $0.006, and today it is $0.63. According to the data obtained from Coinmarketcap, the current price of XRP Is $0.6326, and it is currently ranked as the NO6 in the whole crypto market.

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The trading volume of XRP is $809, 595, 655, with a market capitalization of $34, 352, 654, 138, and a circulating supply of 54, 125, 149, 173 XRP in the crypto market. In the last 24 hours, XRP has increased by 0.29% which is about $0.0029 based on its current value.

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Looking at the chart of XRP, you will see that for the past 7 days the coin XRP has been in a good uptrend, which as a result has made an increase of 3.68%. Based on the technical analysis XRP has displayed that it is a very strong cryptocurrency with potential, in the past 7 days and could be the best time to invest.

As of last month, the XRP price has increased by 0.98% which added an increase of about $0.03 to its current price. This sudden growth that XRP has shown to us means XRP can become the best-performance cryptocurrency under $1 in 2024 if it continues to grow slowly and steadily like this.

Based on how far XRP has been fluctuating at the beginning of 2023, there is no doubt that we can see RXP's price at $0.719 and $0.815 respectively in January 2024.

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Cardano (ADA)

Cardano (ADA) price is $0.6258 with a trading volume of $478, 488, 179 and it has increased by 3.45%. Based on other information obtained from Coinmarketcap, ADA is ranked as the NO 8 cryptocurrency in the whole crypto market.

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The market capitalization of ADA is $478, 488, 179 with a supply of 35, 366, 419, 295 ADA. Looking at the chart of ADA/USDT you can see a W pattern in the chart. This W pattern is also classified as a double pattern both at the top and bottom.

_{screenshot gotten from Tradingview app}

At the time of conducting this analysis the price ADA is $0.6258. If this pattern that we have seen continues to move in a bullish trend the price of ADA might reach resistance levels of $0.7500 and $2.176 above. If the trend the trend reverses back the price of ADA may fall to the support level of $0.5000 or below.

In all Cardano’s ADA is likely to perform well in 2024 as we have seen more than a 5% increase in the last 7 days.

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Dogecoin (DOGE)

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Currently, Dogecoin is trading at $0.09 and it is ranked as the NO10 cryptocurrency in the whole market. The market capitalization of Dogecoin is $13, 428, 294, 657, with and trading volume of $398, 809, 201, and a circulating supply of 142, 484, 736, 384 DOGE.

_{Screenshot gotten from Tradingview app}

Looking at the chart of DOGE, you will see that for the past 7 days the coin DOGE has been in a good uptrend, which as a result has made an increase of 3.51%. Based on the technical analysis DOGE has displayed that it is a very strong cryptocurrency with potential, in the past 7 days and could be the best time to invest.

As of last month, DOGE price has increased by 8.4% which added an increase of about $0.04 to its current price. This sudden growth that DOGE has shown to us means DOGE can become the best-performance cryptocurrency under $1 in 2024 if it continues to grow slowly and steadily like this.

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2.- Provide the step-by-step to buy the selected cryptocurrency. Show screenshots.

Let's assume you don't have USDT in your Binance Account but you have your fait (local currency) to buy USDT before buying XRP, Dogecoin, or ADA. We will be looking at two different ways to buy the selected cryptocurrency.

How to buy USDT on Binance P2P before buying the selected cryptocurrency

• Login to your Binance and click on P2P.

• Select P2P zone to trade. While in the P2P interface select the person you want to trade with and place an order based on the amount you have.

• Select, the local currency you want to use and pay for the cryptocurrency you want to buy and make payment, then notify the seller to release the coin.

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How to Buy on Spot Trading

_{Screenshot gotten from Binance}

• Login to your Binance account and click on Trade.

• At the top select the crypto pair.

• Select your preferred order types; Limit, Market, Stop limit, etc.

• For this class, select Market Order so you can buy at the current market price.

• Enter the amount of USDT you want to use to buy the cryptocurrency and click on Buy.

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How to Buy Via Binance Convert

This is one of the simplest ways of buying cryptocurrency.

• On Spot trading you will see convert at the top left-hand side click on it.

• Select USDT at the top and select the cryptocurrency you want to buy.

• Click on the previous and confirm it.

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3.- What is the future of STEEM in 2024? Give your own opinion, you can project the price of STEEM, making your analysis.

STEEM is expected to continue to expand as more development is coming into the Steem blockchain. Based on the current price of Steem, today being 02 January 2024 Steem is trading at $0.2693 with a ride of 0.23%. Steam's market capitalization is $121, 666, 764 and a trading volume of $28, 020, 963.00.

Based on my opinion via my own analysis and price forecast of Steem, the price of STEEM in 2024 is expected to cross an average price level of $0.3985, and with an expected minimum price of STEEM at the end of 2024 to be at $0.3855.

However, STEEM is expected to reach a maximum level of $0.4865, but as we are expecting a bull run in the entire crypto market since Bitcoin halving will take place this year, the price of STEEM is expected to reach a maximum high of $1.67.

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4.- Is the future of cryptocurrencies promising? Explain. Show data on the adoption of cryptocurrencies in the world. Give your own opinion.

Yes, the future of cryptocurrencies is promising. Cryptocurrencies have come to stay and looking at how many cryptocurrency exchanges and cryptos have faced lawsuits it is a clear understanding that the future of cryptocurrencies is promising.

As many companies and businesses are keying into blockchain technology it is how cryptocurrency is becoming more popular day by day. What Happened with Binance exchange has already told us how promising cryptocurrencies are.

In 2021 statistics show us that the adoption of cryptocurrencies Rose by more than 880% based on the research that was conducted by [Chainalysis](https: //www.chainalysis.com/blog/2023-global-crypto-adoption-index/). When compared to the data that was obtained in 2019 it is believed that crypto adoption will rise more than 2300% in 2023 we have 20 countries that are leading with the adoption of cryptocurrencies.

Top 20 Countries

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In my opinion, based on the lawsuit of the Binance exchange, we should be expecting countries like the United Kingdom (UK), and the United States of America (USA) to be the leaders of cryptocurrencies in the future.

When it comes to individual crypto Investment, countries in Africa, Asia, and Latin America are leading in the adoption of cryptocurrencies, but in the future countries like the USA, and Uk, will have more institutional Investors in the industry.

In conclusion, cryptocurrencies will continue to grow and increase in value as people are looking for easy means of performing transactions which crypto transactions are very fast and less expensive.

I am inviting my friends; @dave-hanny, @woka-happiness, and @vickyson to also join me.