The cryptocurrency market experienced a downturn during the weekend, resulting in a decrease in the global market cap to $2.48 trillion. This decline may be attributed to Iran’s recent attack on Israel, which has had repercussions on the global economy. Additionally, the increasing inflation rate in the US has made investors cautious about volatile assets like cryptocurrencies.

Nonetheless, as the Bitcoin (BTC) halving event approaches, there is a possibility of a market recovery.

Leading 3 cryptocurrencies poised to achieve record highs this week

Bitcoin (BTC):

BTC encountered a 4.9% correction in the weekly charts, leading to a price drop to approximately $66.4k. The upcoming halving cycle for this asset later this month could potentially trigger a sudden upsurge.

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As per CoinCodex, BTC is projected to reach a new all-time peak of \(74,621 on Apr. 20, 2024. Achieving \)74,621 from the current levels would signify a growth of about 12.31%.

Source: CoinCodex

Moreover, CoinCodex forecasts a continued uptrend for BTC in the following weeks, estimating the cryptocurrency to reach $85,986 by mid-May 2024. This would represent a growth of approximately 29.4% from the current levels.

Toncoin (TON):

TON stands out as one of the top-performing cryptocurrencies presently. It has demonstrated a 10.2% increase in the daily charts, 28.2% in the weekly charts, 34.5% in the 14-day charts, and an impressive 85.6% surge over the past month. The recent surge in TON’s value could be attributed to positive developments within its ecosystem. Notably, TON has surpassed Dogecoin (DOGE) to become the 9th largest cryptocurrency by market capitalization.

Source: CoinCodex

Also Read: Top 3 Cryptocurrencies That May Hit All-Time Highs In Q2 2024

Despite TON achieving a record high of \(7.63 on Apr. 11, CoinCodex anticipates another peak for the asset this week. The platform predicts TON to reach \)7.94 on Apr. 18, 2024. Furthermore, CoinCodex foresees a continued upward trend for TON, with a projected value of $23.86 by May 13, 2024.

dogwifhat (WIF):

WIF is another cryptocurrency expected to reach a new all-time high in the near future. While the asset recently hit a peak of \(4.83 on Mar. 31, 2024, CoinCodex suggests that WIF could experience a new high next week, reaching \)4.87 by Apr. 28, 2024.

Source: CoinCodex

Furthermore, CoinCodex envisions a sustained surge for WIF over the upcoming weeks, with a projected value of $10.29 by May 13, 2024.