3 Long-Haul Crypto Picks to Buy and Hold for the Next 10 Years
1. Bitcoin (BTC-USD):
. Bitcoin’s value has more than doubled, reaching $37,500 from $16,000 in December 2022.
. The anticipation of a Bitcoin ETF approval suggests potential for continued upward momentum.
. Current price is below the November 2021 all-time high of $68,000.
. The recent surge in Bitcoin’s price was fueled by expectations of the SEC approving the first Bitcoin ETF.
. Investors turned to riskier assets, including Bitcoin, amid expectations that the Federal Reserve would avoid further interest rate hikes.
. Positive indicators for potential upward movement include buyers absorbing sell volumes, low open interest in derivatives markets, and steady spot demand.
2. Solana (SOL-USD):
. Solana achieved a record-breaking daily transaction count of 51.63 million for the year.
. This is a significant increase from the trend, which had hovered around 20 million since late August.
. Quantum, a new block explorer developed by the SolanaFM team, aims to enhance transparency on Solana’s data-heavy ledger.
. With 53,000 signups, Quantum arrives as Solana’s ecosystem rebounds from a prolonged downtrend.
. SOL’s rising price, currently at $59, up from $19 in the bear market, could potentially reach $100.
3. Avalanche (AVAX-USD):
. Avalanche demonstrated a notable 32% surge, capturing attention despite a subsequent seven percent dip.
. Network growth is modest at 0.29%, suggesting limited enthusiasm.
. Large holders reduced by 0.55%, while large transactions surged to over 11%, a bullish sign.
. Avalanche’s recent collaboration with Amazon’s cloud computing division (AWS) is a significant stride.
. With effective real-world applications, Avalanche solidifies its position in the DeFi sector.
. In 2023, Avalanche witnessed a recovery, reaching $15.41, marking a 38% year-to-date increase, and its market capitalization reached an impressive $5.48 billion.
It’s important to note that cryptocurrency investments carry inherent risks, and thorough research and consideration should be undertaken before making any investment decisions. Additionally, the information provided is based on the date of publication and may be subject to change.
