3 Cryptos to Invest In When the Market Starts to Crash


  • With global regulations tightening, discover safe and promising cryptos to buy.
  • Bitcoin (BTC-USD): Bitcoin has sturdy investment potential due to 11 new ETF approvals and projections of reaching up to $150,000.
  • Ethereum (ETH-USD): Growth is anticipated with upgrades and potential ETFs that could play a central role in the $26 billion DeFi sector.
  • Tether (USDT-USD): Its path is marked with stability and safety underscored by record profits and strategic investments in diverse sectors.
Cryptos to buy - 3 Cryptos to Invest In When the Market Starts to Crash

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Cryptos to buy are a hot subject again thanks to the fourth Bitcoin (BTC-USD) halving, which took place on April 19. It slashed miner rewards to 3.125 bitcoins from 6.25. As with the prior three occasions, this pre-planned event is supposed to ignite another crypto boom.

The halving follows a landmark year for Bitcoin institutional investors. On Jan. 10, 11 spot Bitcoin ETFs were authorized for trading. That eventually attracted $10 billion in assets in their first month. Over half a dozen companies, including the world’s biggest asset manager BlackRock (NYSE:BLK), have filed applications for spot Ethereum (ETH-USD) ETFs. They look to replicate the January boom with Bitcoin, giving the sector an unprecedented air of legitimacy.

However, tempering this excitement is the U.S. Securities and Exchange Commission (SEC). The agency levied $2.89 billion of fines in fiscal year 2023 on crypto players. BlockFi and Kraken were on the hook for $100 million and $30 million in penalties, respectively. The latter had to close its U.S. operations. After the FTX scandal, it seems the entire crypto sphere is on notice.

Therefore, Bitcoin is probably the safest asset among cryptos to buy, and Jack Dorsey thinks it might be worth $1 million by 2030. With Pectra, Ethereum dominates blockchain smart contracts, making it the second choice. Finally, the largest stablecoin had a record first quarter.

Bitcoin (BTC-USD)

Bitcoin cryptocurrency with pile of coins, Vector illustrator
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The recent acceptance of a Bitcoin ETF in Hong Kong is likely to positively influence Bitcoin’s price, building on its 130% year-to-date (YTD) gain. This was thanks to the SEC’s omnibus order approving 11 ETFs and the fourth halving. But Bitcoin is trading sideways post having, moving down 4% over the last 30 days.

However, Standard Chartered Bank thinks Bitcoin’s price could reach $150,000 by late 2024. Yet, Ark Invest‘s Cathie Wood is perhaps the most bullish; she believes Bitcoin could reach $3.8 million by 2030.

Square (NYSE:SQ) Chief Executive Officer (CEO) Jack Dorsey sees Bitcoin going past $1 million by 2030. He is investing in open Bitcoin mining pools, which could potentially further lower the risks of control in Bitcoin mining and raise the asset’s value.

Meanwhile, Layer-2 options like the Lightning Network are becoming more scalable. It makes Bitcoin more effective in terms of trading, with instant transfers and very low fees.

Also, new technologies like “Channel Factories” on the Lightning Network will make it easier for people to enter the market by making it cheaper to start channels, driving Bitcoin adoption further.

Ethereum (ETH-USD)

A coin with the Ethereum logo
Source: shutterstock

Ethereum recently finished a big update called “Dencun,” which slashed data fees, making the network more flexible and efficient. Along with proto-danksharding and lower Layer 2 transactions, this is part of Ethereum’s ongoing work to make its blockchain better.

Meanwhile, the SEC has put off making a choice about some of these ETFs until June. If the same thing happens again with the Bitcoin ETF, Ethereum will likely make a run for its all-time high of $4,878 once the institutional money starts to pour in.

Also, the trade launch of Retik Finance on May 21 is important. It is looking to integrate DeFi options with conventional finance, potentially significantly impacting DeFi, a market projected to cross $26 billion in 2024. Most DeFi contracts are hosted on Ethereum, which is why ETH holders need to take notice.

Overall, experts like those at JPMorgan believe that Ethereum will grow substantially in 2024. This is due to changes, more institutional interest and regular updates (like the Prague/Electra update {Pectra}, which is set to happen in Q4 of 2024).

EIP-2537 makes cryptographic operations better, EIP-3074 adds wallet smart contract-like features, and EIP-6110 and EIP-7251 improve validator operations and make the system scalable.

Tether (USDT-USD)

A concept token for the Tether cryptocurrency.
Source: DIAMOND VISUALS / Shutterstock.com

Perhaps the safest digital asset, Tether (USDT-USD) is the biggest stablecoin in the world.

Importantly, Tether Holdings made a record $4.52 billion in net profit in the first quarter of 2024, thanks to purchases in Bitcoin and gold, finishing with net equity of $11.37 billion.

The latest documents show that 90% of the funds backing Tether tokens are in cash and cash alternatives. Also, total group equity of $11.37 billion and smart investments in AI, green energy and BTC mining show a strong financial situation.

Tether has reached more people by putting USD and XAU (Tether Gold) on The Open Network (TON). This makes transfers easier within TON’s ecosystem and increasing liquidity and activity. It is another way Tether is helping an open and global banking system work.

At the same time, Tether is working with Chainalysis to develop a tracking system for secondary market behavior, to help further secure USDT deals.

Finally, Tether is actively promoting digital currency education and adoption in Africa, which boasts countries like Nigeria, South Africa and Kenya, all leaders in crypto adoption. Tether is hosting a crypto education trip for African youth with Yellow Card, a pan-African fintech and crypto exchange, to promote Tether’s stablecoin, USDT and other digital currencies.

On the date of publication, Faizan 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.

Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.

Article printed from InvestorPlace Media, https://investorplace.com/2024/05/3-cryptos-to-invest-in-when-the-market-starts-to-crash/.

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