Bitcoin’s recent surge has slowed, entering a consolidation phase. Cryptocurrencies have likely weathered their most challenging period and are poised for continued upward movement. And both present us with an opportunity to look at some of the most beaten-down, best long-term cryptos to buy. Granted, many cryptocurrencies are likely to continue to be impacted by various regulatory events that have taken place over the past week. With the US Securities & Exchange Commission turning an eye to crypto, regulatory headwinds abound. Accordingly, investors should be on the lookout for risks. Still, with that in mind, here are three of the best long-term cryptos to buy now and never sell.
Best Long-Term Cryptos: Bitcoin (BTC-USD)
Bitcoin (BTC-USD) wants to achieve a $1 trillion market cap. In addition, Bitcoin’s upcoming halving, a potential recession period, and possible rate cuts from the Federal Reserve are not expected to have a negative impact on Bitcoin. Also, if banks face collapses similar to what we saw earlier this year, it could drive Bitcoin’s price higher. Although Bitcoin has been trading sideways recently, it remains an attractive long-term investment.
Despite Bitcoin’s decline in May, it presents an opportunity for traders to consider buying or adding to their positions. While there are no guarantees for June, taking advantage of the current dip could prove beneficial in the long run, considering the potential acceleration of Bitcoin’s adoption.
Ethereum (ETH-USD)
Next up, Ethereum (ETH-USD) has strong potential to reach a trillion-dollar valuation, as well. All thanks to its prominent use cases and long-standing position as the second-largest cryptocurrency. To assess Ethereum’s value, examining its various business sectors such as NFTs, gaming, DeFi, and the metaverse provides valuable insights into its growth trajectory. By projecting growth in these areas, a clearer understanding of Ethereum’s potential can be gained.
Analyzing Ethereum’s core business sectors is crucial for gauging its potential as a leading blockchain platform. The NFT market, in particular, has shown remarkable value with a valuation of $25 billion in both 2021 and 2022, underscoring its substantial growth prospects.
To unlock significant potential, it is advised to explore avenues beyond the NFT market. The metaverse, considered a trillion-dollar opportunity, presents exponential growth prospects. Investors keen on valuable crypto investments should closely track Ethereum’s advancements, assessing its business lines and metaverse performance to make informed decisions.
Solana (SOL-USD)
Solana (SOL-USD) is also positioning itself as a contender for the trillion-dollar crypto club. With a remarkable 116.54% return since the beginning of 2023, Solana’s market cap, currently below $10 billion, leaves room for substantial growth toward the trillion-dollar milestone.
Solana is taking calculated risks and embracing innovative strategies to pursue exceptional returns. A notable endeavor is the introduction of Solana Mobile, which targets the mobile crypto market. By expanding its network of retail stores, known as “embassies,” Solana aims to tap into a larger user base and capitalize on the potential of retail investors.
Solana is a powerhouse of innovation, evident in its impressive 100% surge this year. Their game-changing invention, the Saga crypto phone, revolutionizes the crypto landscape with its cutting-edge Seed Vault technology. Say goodbye to conventional challenges and experience seamless crypto management on-the-go with the Saga crypto phone.
On the date of publication, Chris MacDonald has a position in ETH, SOL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
