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Cryptocurrencies, since the past year, seem to have become an unattractive investment option, which is very surprising as their ROI cannot be matched by any other security. This phenomenon is due to the crypto market crash on May 2021 that drove many currencies out of existence and also the bearish run since the beginning of 2022.
However, cryptos still hold a lot of potential. As soon as the bear run is over, we will again find investors earning handsome returns on their investments. Below we have listed some cryptocurrencies that we think (and it also is the popular opinion) will be able to bounce back and set new highs.
6 Cryptocurrencies That Might Bounceback
1. Ethereum (ETH)
Listed as ETH, Ether is the official coin of the widely famous Ethereum platform. Launched in 2015, the coin has been able to reach an all-time high of $4800 in 2021. The Ethereum platform helps developers build products like apps, NFTs, games, etc. It has a very strong use case, and that has been the biggest reason behind its outrageous growth from a mere $0.311 at the time of its launch.
However, 2022 has not been Ethereum’s best year as it has dropped from its all-time high and even reached $900 during mid-year. This was the result of an overall crypto market crash that brought a lot of high investments in digital assets to the ground.
Another reason behind Ethereum’s poor performance can be linked to the criticism the platform has received for its high energy consumption at a time when the environment is a pressing global issue.
The developers of the platform are planning a major update that will reduce the amount of energy requirement Ethereum needs for mining purposes. This, paired with the bullish run of the crypto market, will help the Ether coin regain its lost valuation. Analysts predict Ether to go anywhere between $2000-$4500 by the end of 2022. The years following 2022 paint an even rosier picture for the platform, with the coin reaching a value of $10,000 or beyond.
ETH is listed on all the major platforms like eToro, Huobi, Bybit, Binance, and Coinbase.
Your Capital is at Risk.
2. Binance Coin (BNB)
BNB is the in-house coin of the Binance platform, The biggest crypto exchange in the whole world by daily volume. BNB was launched in 2017 and has been on the rise ever since. The coin reached an all-time high of $690 in May of 2021.
BNB is used by users to pay transaction fees, etc., while using the Binance platform. Users get a discount of Almost 10-25% when using BNB as a currency on that platform.
Because BNB’s growth is tied to Binance, it had to suffer a lot due to the bear run and the eventual market crash. Regular transactions on the platform were significantly reduced during the bearish run of the crypto market. The situation was made even worse when Binance was banned in the UK and was investigated regarding the validity of its ICO by the US Securities and Exchange Commission.
The future, however, is bright for the Binance coin. The coin might grow to previous levels as the bearish market ends and the platform gets back on track. As the crypto market is plagued with price volatility, nothing could be predicted with a 100% surety, but in the long run, the coin has a higher chance of giving a good return on investment. Some analysts predict the value of BNB to reach north of $1000 by 2030.
BNB is listed on all the major platforms like eToro, Huobi, Bybit, Binance, and Coinbase.
Your Capital is at Risk.
3. Bitcoin (BTC)
Bitcoin is the biggest and the oldest cryptocurrency in the market. Launched in 2009 by an anonymous individual/group called Satoshi Nakamoto, Bitcoin has been at the forefront of the growth of the cryptocurrency industry. The initial investors have received an ROI that looks unreal.
The coin reached its highest valuation of $68,000 in November of 2021 but has been down ever since. Experts say that the overall economic conditions of the world have more to do with its fall than the sentiments of people towards cryptocurrencies.
As of now, the coin is trading around $20,000-$21,000 and is expected to reach the $28,000 mark by the end of the year. This, however, is dependent on a lot of factors, the biggest of which is the recovery of the world economy.
However, it can be safely said that the overall growth of the crypto market would mean Bitcoin’s growth as it still represents the crypto market. In the long run, Bitcoin is expected to be around $50,000 in 2023 and even reach the $100,000 mark in the coming years.
Bitcoin is listed on all the major platforms like eToro, Huobi, Bybit, Binance, and Coinbase.
Your Capital is at Risk.
4. Solana (SOL)
Solana is the 9th Biggest cryptocurrency by market capitalization. Launched in 2020, Solana is the native currency of the Solana blockchain network. The network is widely acclaimed for its fast processing of transactions and low fees, making it a viable option against industry leaders like Ethereum and Binance.
Like every other coin in this list, Solana (listed as SOL), too, has been on a decline since the beginning of 2022 and has only recently shown some positive movement. It is currently trading at almost $35 dollars which is way lower than its all-time high of $260 dollars it hit in November 2021.
Solana, being very efficient when it comes to transactions per minute, has a solid use case, and that is what helped it grow into a multi-billion dollar enterprise. The same is expected to happen, and the SOL coin is expected to be somewhere around $50-$150 dollars by the end of this year. Needless to say, it will continue to grow and is a good long-term investment.
Solana is listed on all the major platforms like eToro, Huobi, Bybit, Binance, and Coinbase.
Your Capital is at Risk.
5. Cardano (ADA)
Cardano, like Solana, is also a blockchain network. It is valued at roughly $18 billion, which makes it the 8th biggest cryptocurrency by market capitalization. Cardano, at its peak, was valued at $3.10 which was during September of 2021.
The infamous crypto crash has now brought down its value below a dollar. The coin, as of now, is trading at around $0.5. Although there are no signs of rapid recovery of the coin as of now, the platform does boast a sound infrastructure and holds a competitive position in the market.
This promises the platform incredible growth in the coming years. As far as predictions go, Cardano is predicted to reach $0.68 by the end of 2022.
Cardano is listed on all the major platforms like eToro, Huobi, Bybit, Binance, and Coinbase.
Your Capital is at Risk.
6. Litecoin (LTC)
Litecoin, developed in 2011, is among the earliest altcoins to enter the market. The purpose behind such a coin was to create a platform that takes less energy and less time than what Bitcoin takes to process a transaction.
Litecoin (listed as LTC) reached an all-time high of $412 dollars in 2021 but could not protect it from the crypto crash. Its price crumbled, and since then, it has been able to get past the $200 mark. LTC is currently trading at $61.
As far as the predictions go, the 21st largest coin by market cap (roughly $4.4 billion), might hit the $100 dollar threshold by the end of 2022 and may even recover back to its golden days in the coming years.
Litecoin is listed on all the major platforms like eToro, Huobi, Bybit, Binance, and Coinbase.
Your Capital is at Risk.
Alternative High-Potential Coins
The above-mentioned coins have been on the market for at least 2 years, and their growth is evident from the values they had in the initial stages. Investing in these coins might be fruitful for investors as they are all well-established coins backed by innovative technology. The kind of growth the early investors had from these assets cannot happen again.
This could only happen when you invest in an asset during its initial phase. Developers after the 2021 crash have learned that a coin will only survive in a market as volatile as cryptos if it is backed by a solid use case and system. New assets like TamaDoge, Battle Infinity, Lucky Block V2, etc., show immense potential, as is evident from their performance in presales and popular exchanges.
Conclusion
2022 could be the year of recovery for a lot of cryptocurrencies (including the ones listed above). This rise, however, is subjected to a lot of factors that are way beyond our limits of prediction. If everything goes smoothly, a major chuck of the market capitalization of cryptocurrencies that was lost to the crash last year could be recovered in the years to come.
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Source: https://insidebitcoins.com/news/6-cryptos-that-could-bounce-back-after-the-crypto-crash