Historical price movements
An examination of the historical prices of successful cryptocurrencies reveals patterns. For example, the rise of Ethereum was driven by the boom in ICOs, where the Ethereum network was the primary platform for these offerings. Similarly, between 2020 and 2021, DeFi tokens saw significant growth due to increasing interest in such applications. To find a cryptocurrency with a future in the upcoming period, you need to check what might drive the market now and in 2024 and beyond.
External market factors
Global economic factors, such as inflation or economic recession, monetary policies, or stock market crashes, can also affect the crypto market. For example, the COVID-19 pandemic initially led to a crash in the cryptocurrency market in March 2020, but afterwards, there was increasing interest in cryptocurrencies as a potential hedge against high inflation rates and economic uncertainty.