As Bitcoin surges 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 leaping by over triple-digit margins this year, is not isolated; and other cryptos have followed suit. The surge is fueled by record inflows into crypto funds, reaching $1.76 billion, as reported by CoinShares. This consistent investment trend sparks optimism for a robust bull run and makes it an opportune time for investors to load up on the right cryptos to buy.
Furthermore, the excitement around spot bitcoin ETFs and the anticipated bitcoin halving in May 2024 further bolsters the optimism. With predictions like Standard Chartered’s $100,000 Bitcoin forecast, the crypto market appears primed for an exciting phase of growth ahead. With that said, here are seven of the top 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) has been on a monumental run this year, up a staggering 170% gain year-to-date. Moreover, as we look ahead to next year, BTC is poised to continue the momentum ahead, on the back of a historic halving event, which is likely to trigger a historic rally. Standard Chartered’s forecast pegs Bitcoin at a striking $120,000 by the conclusion of the year-end, a three-fold increase from current levels. This prediction is bolstered by the potential introduction of a spot ETF by early next year, expected to catalyze substantial buying activity.
Further fueling Bitcoin’s bullish outlook, global economic conditions could potentially lead to rate cuts, favoring Bitcoin during expansionary monetary policies. Additionally, with increasing global cryptocurrency adoption and Bitcoin’s capped supply, a price uptrend seems plausible. Consequently, Bitcoin’s potential for significant growth appears more realistic than ever, positioning it as a no-brainer to wager on at this time.
Ethereum (ETH)
Ethereum (ETH-USD), is the second-largest crypto by market cap, and a linchpin in the realms of smart contracts and Web 3.0. Moreover, its versatility in supporting a myriad of decentralized computing processes positions it at the helm of the rapidly expanding Web 3.0 phenomenon and for broader crypto adoption. Also, the Ethereum Virtual Machine (EVM) enables a myriad 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. Initially outshining Bitcoin in performance, Ethereum has seen a recent lag as market focus shifted towards cryptocurrencies as inflation hedges. However, Ethereum’s critical role in underpinning decentralized applications presents a strong case for its long-term positioning in the crypto sphere. As on-chain adoption 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 witnessed a triple-digit increase in value in 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 position it at the vanguard of advancements in decentralized finance and decentralized applications, making it a compelling long-term crypto investment.
Despite previous challenges linked to the FTX scandal, Solana’s performance in the last six months showcases its resilience and long-term growth trajectory. Moreover, the introduction of the Saga phone, a bold foray into the mobile crypto market, signifies its innovative approach and intention to continue adding new layers to its growth story. The goal remains to continue broadening its influence and utility in the digital currency landscape as it looks to evolve at a rapid pace.
Uniswap (UNI)
Uniswap‘s (UNI-USD) status as the world’s largest decentralized exchange, along with the growth expected in total-value-locked-figure over time, presents 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 which is increasingly leaning towards decentralized solutions. The platform’s recent Version 4 upgrade underscores the crypto’s dedication to enhancing user experiences. A standout feature of this upgrade is “Hooks,” a transformative addition to automated market maker exchanges. This innovation grants developers the flexibility to allow them to engage with asset pools in ways previously unfeasible. Such advancements broaden the platform’s appeal and functionality.
Uniswap Labs continues to embrace its decentralized foundations, prioritizing community collaboration. This approach ensures the platform not only progresses but does so in alignment with its community’s interests, reinforcing 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 shading, a process involving partitioning transactions into smaller groups for parallel verification. This, in turn, results in faster and more cost-effective transactions compared to giants such as Bitcoin or Ethereum. Zilliqa’s attractive staking rewards complements this technical edge, offering a current Annual Percentage Rate of 13.2%. This feature, along with its undervalued status, makes ZIL an appealing long-term option for crypto enthusiasts. The concept of sharding, which Zilliqa has pioneered in the crypto realm, enhances transaction speeds and scalability.
Moreover, its early adoption and development in this area distinguishes it from its competition. Additionally, the network’s recent foray into the metaverse, relaunching its venture as MetaMinds, aligns with the growing investor interest in AR/VR, gaming, and other high-potential sectors. Layer that up with the potential shifts in economic policies like the end of rate hikes, and Zilliqa is in a position to capitalize on these changes, potentially leading to a swift rise in its value and demand
XRP (XRP)
XRP (XRP-USD) distinguishes 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 micro-payments. Its most recent legal triumph against the U.S. Securities and Exchange Commission has boosted investor confidence in XRP, despite experiencing a dip since early November. Moreover, this legal victory has injected a renewed sense of optimism around the Ripple coin.
In a strategic move, Ripple Labs announced plans to incorporate automated market makers into the XRP Ledger, with the goal of significantly enhancing liquidity and trading efficiency. This development has evoked a range of reactions within the XRP community, balancing concerns over potential stability issues against expectations of improved liquidity. In the future, 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). It’s often hailed as the idealist’s altcoin and 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 in line with creating decentralized applications that deliver tangible, real-world utility.
Cardano is currently ranked as the third-largest cryptocurrency by market capitalization, surpassing $100 billion. Moreover, 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, with a reliance on empirical evidence to build its network and evolve into the top crypto network over time.
On the date of publication, Muslim Farooque did not have (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.
