Despite initial bearish sentiment, Bitcoin (BTC-USD) has surprised investors and analysts by surging 80% this year. This surge has brought along the start of the next cryptocurrency bull market. Accordingly, it’s no surprise to see other high-growth cryptos surge alongside the world’s largest, as this time is likely no different than any other.
Indeed, in many respects, Bitcoin remains among the high-growth cryptos that’s in vogue among more conservative investors. It’s on this list of high-growth cryptos to buy, for those looking to play this sector over the medium term.
Additionally, there are two other tokens that are fundamentally different from Bitcoin on this list. For those who believe that the crypto sector could be poised to rally in the second half, these are projects to keep an eye on right now.
Ethereum (ETH-USD)
Now’s the time for investors to hold on to Ethereum (ETH-USD), as it is expected to outperform Bitcoin over the next five years. Some experts have called for returns which could potentially be in the 5x range, while others have even called for returns up to 10x.
While I’m not convinced this will happen over the next year, Ethereum has proven its ability to provide these kinds of returns over the long-term. This includes various updates taken on by Ethereum developers over the past year. However, despite these updates, Ethereum clearly has more in store for investors looking forward. The project’s significantly reduced energy consumption is great, but improved scalability is what many users want. That could be coming sooner than many think.
Despite its already high market capitalization, this cryptocurrency has the potential to deliver significant long-term gains. It consistently outperforms Bitcoin and offers a balanced risk-reward ratio. Ethereum’s utility is its strongest aspect, serving as the foundation for Web 3.0 development and witnessing high transaction volumes.
This drives demand for Ethereum as transactions require cryptocurrency. Additionally, Ethereum is deflationary, with annual supply inflation of -0.79% at the time of writing, making it among the most profitable high-growth cryptos to hold in both the short and long term.
Bitcoin (BTC-USD)
Bitcoin (BTC-USD) is an essential addition to any bullish cryptocurrency portfolio. With the potential to deliver 5x to 10x returns in the next five years, it offers significant growth opportunities. Analysts at Standard Chartered even predict Bitcoin reaching $100,000 by the end of 2024, implying a 3x return in just 18 months. Multiple factors contribute to a bullish outlook, including a potentially weaker dollar resulting from a dovish Federal Reserve. Additionally, the upcoming Bitcoin halving in 2024 suggests a rally in the coming years, following historical patterns.
Bitcoin has consistently demonstrated its resilience throughout the volatile cryptocurrency market. In the face of turbulence in 2022, Bitcoin’s dominance has grown by 10%, now representing 51% of the total crypto market value. This resurgence reflects investors’ increased preference for the reliability and stability of Bitcoin over riskier altcoins.
Render Token (RNDR-USD)
Render Token (RNDR-USD) is a decentralized cryptocurrency that facilitates the connection between artists, studios, and miners. It addresses the growing demand for graphics processing units (GPU) computing power in various industries like gaming, virtual reality, medical imaging, and artificial intelligence (AI). The global GPU market size is projected to reach $400 billion by 2032, with a CAGR of 25% between 2022 and 2032.
Render is a decentralized network that allows users to rent out their GPU power for rendering digital content. By utilizing blockchain technology and smart contracts, Render aims to democratize GPU rendering and provide a global network of distributed GPU power. Users are rewarded with RNDR tokens for renting out their GPU power.
Moreover, RNDR can be used to pay for rendering services and to access exclusive features. With the increasing demand for AI models and a chip shortage in certain industries, RNDR has the potential for significant growth and could potentially reach a multi-billion market cap, joining the ranks of top tokens like FIL.
On the date of publication, Chris MacDonald has a position in ETH. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
