Top cryptocurrencies to buy for the next quarter

8 Min Read

Post the challenging environment for the crypto investors, festive season is expected to be promising for the crypto fans as the joy of Christmas holds some strong potential investment opportunities. After the long period pause on the increase, Bitcoin price chart continues to show some strong signs of making turnaround, and the analysts expect that BTC is expected to see a significant increase in its price. The analysts believe that investors have renewed their hopes in Bitcoin again after the long despair, and its prices have now started to show some early signs of recovery. Analysts believe that this cryptocurrency now trades at fair value. With increased awareness, traders continue to hunt for top cryptocurrencies to buy as they want to take the advantages of renewed hopes. Potential recovery of the Bitcoin should act as the catalyst for rebound in the overall sector. As the result of this, this is a critical period for the traders to place their capital in an informed way. 2023 gave the much-required relief to the cryptocurrencies as a result of broader increase of risky assets along with technology stocks, apart from some of the industry-specific news. Earlier in 2023, Grayscale Investments did saw a legal win after the court stated that SEC should not have rejected the application which pertains to converting Bitcoin trust into the spot Bitcoin ETF. As the result of this, the investment firm filed the form S-3 with Securities and Exchange Commission focusing on registering $18 billion Bitcoin trust as the product as per the Securities Act of 1933. As per the report by BitMex, in 2023, it was stated that it is unlikely that the US Fed will keep on increasing the interest rates. The report remained favourable and optimistic as there were signs related to declining inflation and China reopening. As the result of this report, a range of crypto traders have started researching the top cryptocurrencies to buy. However, it has been highlighted that investors are required to exercise caution and invest in “legitimate” crypto projects which have some real use cases. With this in mind, let us now have a look at top cryptocurrencies to buy for the next quarter. 1. Solana (SOL) Solana (SOL) has been tagged as the smart contracts platform which have a unique architecture, enabling it to process tens and thousands of transactions in one second while maintaining the costs terribly low. It has been categorised as the cheapest cryptocurrency ecosystems available in the market, because users, on an average, pay less than $0.001 per transaction. Recently, Solana’s DeFi ecosystem marked a strong milestone as its Total Value Locked (TVL) touched new yearly peak of more than $655 million. As the result of this, there has been a strong increase of ~211% since ~$210.47 million TVL which was recorded on January 1, 2023. SOL presently trades at ~$62.24, which exhibits a rise of ~42.7% over the previous one month. Over upcoming phase of market expansion, SOL should touch ~10% of Ethereum, as per the global analysts. If we assume that Ethereum tops $8,000 over the upcoming bull market, global experts speculate that if Solana marks only ~10% of its market cap, which it has already touched in the past, this will mean $231 price target for SOL. 2. Ethereum (ETH) Even though Ethereum continues to struggle to break above $2.100 resistance level and it presently trades at $2.103, this cryptocurrency continues to exhibit a positive trend. This crypto saw significant ~16.2% gain, and the present positive momentum remains supported by numerous factors, which includes applications for spot ETFs and expansion of its ecosystem, as a result of layer-2 solutions. Furthermore, the SEC started the review process for Fidelity’s spot Ether ETF proposal just a few days ago. As per global experts, similar applications from other investments firms such as BlackRock also await similar regulatory green light. If these get approved, such ETFs are expected to bolster Ether’s status as the digital commodity. This will potentially reduce likelihood of it being regarded as the security, which can bring more investors. 3. Bitcoin (BTC) Bitcoin continues to target to reclaim $40,000 level as this crypto plans to touch a new all-time high, mainly because of speculation around potential approval of the spot exchange-traded fund (ETF) by regulatory bodies in the US. The current news regarding the ETF is widely being considered as the major event which can propel Bitcoin to another significant record high. This cryptocurrency currently trades at ~38,802, which has gained more than 40% YTD. As festive season is fast approaching, there are several Americans who are pondering over perfect Christmas gift for their near and dear ones. Traditional gifts such as gadgets, clothes, and jewelry are still popular options, but now they believe that more unconventional yet a rewarding option can be Bitcoin. If some allocated only $20 each year between 2016 through to 2022, the ROI would have been substantial, with Bitcoin’s value standing at ~$38,341 as on December 1, 2023. 4. XRP XRP has been categorised as the 5th largest cryptocurrency, which bears the market capitalisation of ~$33.1 billion. At the time of writing, this crypto trades at ~$0.62, which exhibits a rise of ~1.86% in the past 24 hours. Such gains came after the week when this token declined by ~0.99% of its value, in contrast to its more than 57% rise in one year. Over the previous year, the token’s price saw an increase of ~53%, enabling it to outperform ~64% of top 100 crypto assets over the same time period. Conclusion While above are some of the top cryptocurrencies to buy for the next quarter, there are some other names which are expected to experience a boost. There have been numerous crypto predictions which have now started to flood the markets. These predictions come from global analysts which estimate that these tokens might see significant rebound in 2023 and in 2024 and beyond. Analysts believe that Bitcoin’s significant rally is underway. To be specific, global analysts believe that BTC might be in the range of $100,000 – $140,000 by 2025. Read Also: Top 3 bitcoin and blockchain stocks with healthy growth potential How to turn $1000 into $3000 quickly: Different strategies and methods! Can Donald Trump NFTs Make You Rich? Here’s Everything You Need to Know Major cryptocurrencies – Bitcoin, Ethereum, Dogecoin witnesses a fall; Can Ripple become one of top 3 coins?

Share This Article
By admin
test bio
Leave a comment
Please login to use this feature.