Bitcoin (BTC-USD) has continued to trade rangebound around the $70,000 level. However, if you’ve been in the crypto game long enough, you’d know that things can change in a heartbeat. We are now a month and a half since the Bitcoin halving, and we did have a moderate selloff, as has happened historically.
In my opinion, a supply crunch could kick in over the coming months. Bitcoin has historically risen sharply a few months after previous halvings, as a supply crunch eventually takes hold. A similar scenario could unfold this time around. I believe once interest rate cuts are announced, we could see the buying pressure from the ETFs, the supply crunch from the halving, and the tailwinds from rate cuts drive Bitcoin higher with a one-two-three punch. Altcoins would greatly benefit from this, especially once the so-called altseason kicks in.
Here are three cryptos to consider if Bitcoin does cross $100,000 this cycle. These are three projects that look primed for potential 50X gains, in my view.
Data Lake (LAKE-USD)
Data Lake (LAKE-USD) hasn’t had the best price action lately, much like most small-cap altcoin projects. LAKE crypto has declined from $0.046 at its peak to $0.012 recently. That said, I think this is still a promising crypto project to look into, as it may be bottoming out near this range.
Data Lake is building a global system for users to donate their data capacity for use in scientific research and studies. This data is then used to power high-quality datasets for AI and machine learning tools.
Retaining access to medical data while protecting privacy has been a major challenge. Data Lake uses blockchain technology to allow users to give or revoke consent for their data to be used, while keeping said data secure and private. Users’ consent is recorded on the blockchain to verify permission. This project is built on the Polygon (MATIC-USD) blockchain and uses the LAKE cryptocurrency token as an “entry ticket” to participate by donating data.
Given that many data and AI cryptos have taken off earlier this year, I wouldn’t surprised to see Data Lake outperform when broader sentiment improves. The market capitalization for this project sits at just $11.6 million. Thus, there’s plenty of room for major gains, if the next leg of the bull cycle is on the horizon.
Nano (XNO-USD)
Nano (XNO-USD) is a crypto I’ve covered a lot recently. However, its performance so far has remained lackluster. It is one of the oldest crypto projects, and currently holds a bigger market cap than smaller projects like Data Lake. I blame Nano’s under-performance mainly on the fact that this project does not have any sort of marketing.
Many may view this factor as a negative since the hype here is much more muted. However, I actually think this lack of marketing reinforces Nano being a decentralized peer-to-peer project.
Nano allows users to make transactions for free. Many crypto projects advertise free transactions, but have a hidden buy-and-sell tax. Nano is different, as it is one of the only chains that is completely free. If Nano can manage to get more listings and have more merchants accept the crypto, we could see a lot of upside here. The market cap for this project is only $169 million. Again, if massive adoption takes place, this is a project that could trade much, much higher over the long-term.
Nettensor (NAO-USD)
Nettensor (NAO-USD) is a cryptocurrency project aiming to capitalize on the ongoing hype and speculation around AI. I think this is a project that could ride the coattails of Bittensor’s (TAO-USD) meteoric surge over the past year. Indeed, I think Nettensor could deliver multi-bagger gains with even a fraction of Bittensor’s success.
The crypto has a $7.8 million market cap and is currently trading sideways, around 87% down from its all-time highs. This is definitely a high-risk, high-reward bet. But if Bitcoin sees a second wave of hype that drives it beyond $100,000, I think NAO can potentially see much greater near-term upside.
This project offers a diverse range of AI-focused services beyond basic offerings. Its flagship NetCloud platform provides cloud computing capabilities for AI infrastructure operations, including core hosting, VPS, remote desktop access, and domain management. The AI hype factor alone could potentially drive NAO’s price markedly higher.
On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
