Get ready for the next crypto bull run as the market gears up for exponential growth
As Bitcoin climbs past $42,000, a level not seen in over a year, the spotlight shifts to cryptos to buy for the next bull run. This rally, with Bitcoin jumping by more than triple-digit margins this year, is not isolated; and other cryptos followed suit. The surge is fueled by record inflows into crypto funds, reaching $1.76 billion, as reported by CoinShares. This consistent investment trend raises optimism for a robust bull run and makes it an opportune time for investors to stock up on the right cryptos to buy.
Furthermore, the excitement surrounding spot bitcoin ETFs and the expected bitcoin halving in May 2024 further strengthens the optimism. With predictions like Standard Chartered’s $100,000 Bitcoin prediction, the crypto market looks poised for an exciting phase of growth ahead. With that said, here are seven of the best cryptos to buy for the next bull run.
Cryptos to Buy for the Next Bull Run: Bitcoin (BTC)
The crypto blue chip in Bitcoin (BTC-USD) is on a monumental run this year, with an astonishing 170% gain year-to-date. Furthermore, looking ahead to next year, BTC is poised to continue the momentum going forward, on the back of a historic halving event, which is likely to trigger a historic rally. Standard Chartered’s forecast puts Bitcoin at an impressive $120,000 by the end of the year, a threefold increase from current levels. This forecast is bolstered by the possible launch of a spot ETF by early next year, which is expected to catalyze significant buying activity.
Further fueling Bitcoin’s bullish outlook, global economic conditions could potentially lead to rate cuts, favoring Bitcoin during expansionary monetary policy. Moreover, with increasing global adoption of cryptocurrencies and Bitcoin’s limited supply, a price upward trend seems plausible. As a result, Bitcoin’s potential for significant growth seems more realistic than ever, positioning it as a no-brainer to bet on at this time.
Ethereum (ETH)
Ethereum (ETH-USD), is the second largest crypto by market capitalization, and a pivot in the realm of smart contracts and Web 3.0. Additionally, its versatility in supporting a host of decentralized computing processes puts it at the helm of the rapidly growing Web 3.0 phenomenon and for broader crypto adoption. The Ethereum Virtual Machine (EVM) also enables a host of decentralized applications and services, setting it apart from Bitcoin’s more focused peer-to-peer payment functionality.
While Ethereum and Bitcoin share a high correlation, Ethereum’s journey has been distinct. Ethereum, which initially outperformed Bitcoin, has seen a recent slowdown as market focus shifted to cryptocurrencies as inflation hedges. However, Ethereum’s critical role in underpinning decentralized applications provides a strong case for its long-term positioning in the cryptosphere. As adoption of the chain grows, Ethereum’s potential for continued expansion and influence in the crypto space remains as promising as ever.
Cryptos to Buy for the Next Bull Run: Solana (SOL)
Solana (SOL-USD) has seen a triple-digit increase in value over the past year, but still remains below its all-time highs. Gaining attention for its promise to address Ethereum’s limitations in fees and speed, Solana continues to demonstrate massive long-term potential. Its high throughput and low transaction costs put it at the forefront of advances in decentralized finance and decentralized applications, making it a compelling long-term crypto investment.
Despite past challenges related to the FTX scandal, Solana’s performance over the past six months demonstrates its resilience and long-term growth trajectory. Additionally, the launch of the Saga phone, a bold foray into the mobile crypto market, signals its innovative approach and intent to continue adding new layers to its growth story. The goal remains to continue to broaden its influence and usefulness in the digital currency landscape as it appears to be rapidly evolving.
Uniswap (UNI)
Uniswap’s (UNI-USD) status as the world’s largest decentralized exchange, along with the expected growth in total-value-closed figure over time, provides a compelling case for bullish sentiment. Its ability to enable direct cryptocurrency exchanges, bypassing traditional financial intermediaries, adds to its growth story. This feature is remarkably important in a financial world that is increasingly moving towards decentralized solutions. The platform’s recent version 4 upgrade highlights the crypto’s commitment to improving user experiences. A notable feature of this upgrade is “Hooks”, a transformative addition to automated market maker exchanges. This innovation gives developers the flexibility to enable them to engage with asset pools in ways that were previously unfeasible. Such advances broaden the platform’s appeal and functionality.
Uniswap Labs continues to embrace its decentralized foundations and prioritize community collaboration. This approach ensures that the platform not only progresses, but does so in accordance with its community’s interests, strengthening the crypto’s position as a dynamic and user-focused entity in the decentralized finance sector.
Cryptos to Buy for the Next Bull Run: Zilliqa (ZIL)
Zilliqa (ZIL-USD) stands out in the crypto landscape as the first crypto network to implement shadowing, a process that involves dividing transactions into smaller groups for parallel verification. This in turn leads to faster and more cost-effective transactions compared to giants like Bitcoin or Ethereum. Zilliqa’s attractive investment rewards complement this technical edge and offer a current annual percentage rate of 13.2%. This feature, along with its undervalued status, makes ZIL an attractive long-term option for crypto enthusiasts. The concept of sharding, which Zilliqa pioneered in the crypto realm, improves transaction speed and scalability.
Moreover, its early adoption and development in this area sets it apart from its competitors. Additionally, the network’s recent foray into the metaverse, relaunching its venture as MetaMinds, aligns with growing investor interest in AR/VR, gaming and other high-potential sectors. Couple this with the potential shifts in economic policy such as the end of interest rate hikes, and Zilliqa is in a position to capitalize on these changes, potentially leading to a rapid rise in its value and demand.
XRP (XRP)
XRP (XRP-USD) differentiates itself in the crypto market as a streamlined solution for international transactions, offering a cost-effective solution compared to traditional methods. Its capacity for ultra-fast transactions makes it a more appropriate option for micropayments. Its most recent legal victory against the US Securities and Exchange Commission boosted investor confidence in XRP, despite a decline since early November. Additionally, this legal victory has injected a renewed sense of optimism around the Ripple coin.
In a strategic move, Ripple Labs has announced plans to incorporate automated market makers into the XRP ledger, with the aim of significantly improving liquidity and trading efficiency. This development has sparked a range of reactions within the XRP community, balancing concerns about potential stability issues against expectations of improved liquidity. Going forward, these advancements are likely to solidify its position as a key player in the global cryptocurrency landscape, further adding to its redemption story.
Cardano (ADA)
Last on the list of cryptos to buy for the next bull run is Cardano (ADA-USD). Often considered the idealist’s altcoin, it offers a greener and more utilitarian approach to the blockchain realm compared to other players in the realm. Founded by Ethereum founder Charles Hoskinson, Cardano is aligned with creating decentralized applications that deliver tangible, real-world utility.
Cardano is currently ranked as the third largest cryptocurrency by market capitalization, exceeding $100 billion. In addition, Cardano’s blockchain technology is a critical component in decentralized finance networks, enabling various financial activities, including lending, borrowing and other activities, without traditional intermediaries. Cardano’s development team is playing the long game, relying on empirical evidence to build its network and evolve into the best crypto network over time.
As of the date of publication, Muslim Farooque 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 author, subject to the InvestorPlace.com Publishing Guidelines.
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