3 Cryptos to Buy to Ride Bitcoin’s The cryptocurrency industry keeps growing rapidly, making investors think about what might happen next. Even though there’s uncertainty, people are still excited. Things like the upcoming Bitcoin halving, the approval of spot Bitcoin ETFs by the Security and Exchange Commission, and changes in the Federal Reserve’s monetary policies are all good signs for Bitcoin. But many investors wonder if there are smarter ways to take advantage of this surge.
The digital money business is getting bigger fast, which makes investors wonder what could come next. Even though things aren’t certain, people are still pretty pumped. Stuff like the upcoming Bitcoin halving, the OK from the Security and Exchange Commission for Bitcoin investments, and changes in how the Federal Reserve handles money all seem positive for Bitcoin. But lots of investors are thinking about smarter ways to make the most of this sudden growth.
Sure, Bitcoin has been doing really well lately, reaching over $52,000 last weekend. This is happening while the stock market stays strong, and investments that are a bit risky are expecting that it might become easier to make money soon.
Although there are risks involved in this cryptocurrency surge, many investors still believe in its potential for growth. If you want to invest in cryptocurrencies that could rise alongside Bitcoin, here are my top picks for what to buy at the moment.
Ethereum (ETH-USD)
Recently, Ethereum (ETH-USD) has been doing really well, increasing by over 22% since the start of the year. They made some upgrades to help Ethereum work faster, which should lower transaction costs. Also, they increased the limit on how much data can be processed, which boosted Ethereum’s value. Analysts think that if a certain type of investment gets approved soon, Ethereum could reach $4,000, which would make it a good investment for different time periods.
Franklin Templeton, a big company that manages money, wants to start a new investment fund tied to Ethereum, a type of cryptocurrency. These funds let people invest in cryptocurrencies without actually owning them directly. The government has already said yes to similar funds for Bitcoin, which attracted a lot of big investors to the cryptocurrency market. Franklin Templeton, with $1.5 trillion in assets, is doing what other big companies are doing by applying for this type of fund. The government has until May 23 to decide whether they’ll allow these new Ethereum funds, which could make the cryptocurrency market even bigger.
Bitcoin Cash (BCH-USD)
I don’t really talk about Bitcoin Cash (BCH-USD) much. It’s like a different version of Bitcoin, but it’s mainly for making payments. However, if investors start thinking that the most useful cryptocurrencies will be the ones used for payments, Bitcoin Cash might become more valuable.
Bitcoin Cash has had steady prices since around the middle of last year. It’s been staying around $260 and its 100-day moving average. So, for people who look at charts, this could be a good coin to buy because it might go up in value.
This is one of the top 20 cryptocurrencies by value, but I think people haven’t paid enough attention to it. So, if something big happens to make people excited about it, like a major event, Bitcoin Cash could go up a lot more. The big question is what that event will be, and when it will happen.
Solana (SOL-USD)
Solana (SOL-USD) is the fourth largest cryptocurrency by market value and a major player in the layer-1 blockchain space. Its recent price surge, driven by the Uptober trend, suggests there could be more gains ahead.
In the last year, Solana’s popularity has skyrocketed by more than 400%, showing its strong momentum. Investors are attracted to Solana because it’s seen as a good way to benefit from the increasing DeFi transactions. With its super-fast speed and high capacity, Solana has become a key player in digital asset trading, especially for things like NFTs, in recent times.
I’m not sure if momentum will become really popular like it did in 2021. But if you think NFTs and other digital assets will become popular again, you might want to consider buying Solana cryptocurrency. The Solana team has fixed some security problems that caused issues in the past. As long as there aren’t any big problems with the network, Solana’s popularity could keep going up for a while.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
