Dividend Stocks

3 Cryptos to Make Your ‘Get Rich’ Dreams Come True

Bitcoin (BTC-USD) never ceases to surprise investors and analysts. From bearish sentiments and outlook in 2022, the cryptocurrency has surged by 80% for year-to-date. The rally confirms the next bull market for cryptocurrencies. With excesses being weeded out during the bear market, the next rally can be bigger and stronger. It’s therefore a good time to consider exposure to some of the best cryptos to buy for the next few years.

It’s worth noting that 35% investors believe that the fed will star cutting rates in Q1 2024. Further, 56% believe that rate cuts are likely in the second half of 2024. I believe that a dovish fed will trigger a rally in risky asset classes. Of course, with Bitcoin halving due next year, there is a strong reason to be bullish.

My focus in this column is on three quality cryptos to buy that have multibagger returns potential.

Bitcoin (BTC)

Up trend Technical graph of Bitcoin (BTC-USD) in futuristic concept, BITI ETF is a Bitcoin short fund for investors betting against Bitcoin.

Source: Sittipong Phokawattana / Shutterstock.com

For investors bullish on cryptocurrencies, Bitcoin (BTC-USD) should be a default portfolio holding. From current levels of $30,000, I believe that the cryptocurrency can deliver 5x to 10x returns in the next five years. Standard Chartered believes that Bitcoin can touch $100,000 by the end of 2024. If this holds true, it would already imply 3x returns in 18 months.

There are multiple reasons to be bullish. A dovish fed would translate into a relatively weaker dollar and this would be positive for Bitcoin and other risky assets. Further, Bitcoin halving is due in 2024. Going by historical records, the digital asset is likely to rally next year and potentially into 2025.

Wider adoption of cryptocurrency is also a strong point in the bull case thesis. Bitcoin has a limited supply and it’s expected that the number of cryptocurrency holders can swell past one billion in 2025. A tight supply scenario would push the cryptocurrency higher.

Ethereum (ETH)

Concept graphic of Ethereum Classic (ETC) crypto logo in green techno style

Source: shutterstock.com/BT Side

Ethereum (ETH-USD) is another blue-chip cryptocurrency that’s worth holding through the decade. I strongly believe that ETH is likely to outperform Bitcoin in the next five years. Therefore, 5x or 10x returns seem very probable.

One reason to be bullish is the point that Ethereum still has several developments on the cards. Also, the cryptocurrency has still not discounted the benefits of Ethereum merge. To put things into perspective, the shift from proof-of-work (PoW) to proof-of-stake (PoS) is likely to reduce energy consumption by 99.95%. This is a big reason to be bullish as Ethereum is unlikely to be impacted by sustainability regulations. This make it one of those cryptos to buy.

Last year, Vitalik Buterin opined that Ethereum development is only 55% completed after the merge. I believe that an increase in transaction speed coupled with significant reduction in transaction cost will be game-changers.

Zilliqa (ZIL)

The Zilliqa (ZIL) crypto logo in front of a trading chart illustration.

Source: Shutterstock

Zilliqa (ZIL-USD) crypto might be a 20-bagger from current levels of two cents. It’s worth noting that just before the bear market, ZIL coin had skyrocketed to 25 cents. I see those levels being breached in the next bull market.

As an overview, Zilliqa is the world’s first coin that works on the concept of sharding. In this, transactions are grouped into smaller parts and divided among miners for parallel verification. As a result, the transaction speed is robust. At the same time, the transaction cost is lower as compared to Bitcoin or Ethereum.

It’s also worth noting that ZIL coin has an attractive APR on staking. Currently, the APR is 13.32% and 32% of the circulating supply is staked. This is another reason to be bullish as a supply crunch can trigger a massive rally.

Last year, Zilliqa also launched metaverse-as-a-service. As a matter of fact, ZIL coin had skyrocketed after the launch. This is another potential area for growth besides an increasing number of dApps on the blockchain.

On the date of publication, Faisal Humayun 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 writer, subject to the InvestorPlace.com Publishing Guidelines.

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