Crypto expert Faisal Humayun recommends these tokens to long-term investors looking for a lot of profit. The expert notes that there are very few smart cryptos to buy at the moment. However, these tokens, including Dogecoin (DOGE), have strong risk-reward prospects, according to the expert. The expert explains why he chose cryptocurrencies and shares his expectations.
Leading crypto Bitcoin (BTC) is in the first place
Any investor in cryptocurrencies can compare Bitcoin (BTC) to a blue-chip stock for bullishness. Recently, the world’s most valuable digital asset fell as low as $15,700. However, with some downside correction in the dollar, Bitcoin rallied as high as $17,000. It is worth noting that the next Bitcoin halvi will take place in the first half of 2024. Historically speaking, the leading crypto rose after the halving. This is an important catalyst for investors looking for more stable tokens with bullish potential in the near term.
Another positive catalyst that could boost Bitcoin’s value is increased institutional adoption. Strong hands seem to be accumulating this token at lower levels. As such, there’s a potentially huge comeback on the cards. The limited supply of Bitcoin is another important factor that the bulls continue to hold on to. Finally, individual adoption of Bitcoin is also growing steadily. An important indicator that investors are watching is its adoption among major global companies that are starting to accept Bitcoin as a payment method.
In second place is a meme coin, Dogecoin (DOGE).
If it wasn’t for Elon Musk, Dogecoin (DOGE) would probably still be a token in the dark. Tesla CEO promoted money as ‘people’s crypto’. Next, cryptocoin.com As you follow, his tweets in favor of Dogecoin have triggered big rallies in the past. Dogecoin rose 47% last month as Elon Musk took control of Twitter. This rally is clearly due to speculation that Musk will make Dogecoin part of Twitter’s payments system. Of course, at eight cents, Dogecoin is still 88% below its all-time high.
However, if Elon continues to support Dogecoin, it could mean hefty gains in the token’s next rally. It’s also worth noting that Dogecoin has strong community support. Currently, the crypto has 4.4 million owners, with the top 50 holding 63.83% of the total DOGE supply. Dogecoin is therefore in strong hands. Even with the inflationary state of this token, it is possible that tight supply will lead to risky rallies in the future. Overall, Dogecoin appears to be oversold. As this token gains wider acceptance as a form of payment, Dogecoin is likely to yield 200% to 300% returns over the next few years.
Leading altcoin Ethereum (ETH) is also on the list
It makes sense to invest in big projects rather than speculative crypto projects. This is especially true when market sentiment is bearish as it has been recently. Ethereum (ETH) has been heavily in the news with its PoS transition via the Merge event. Investors were expecting a large upward move in price after the Merge. However, Ethereum traded relatively in sync with the broader crypto market.
However, this price action has provided investors with a good accumulation opportunity for Ethereum. Developments on this Blockchain will continue in 2023, with a focus on reducing the threats of centralization, Vitalik Buterin said. Additionally, the Shanghai upgrade of the network is expected to arrive in 2023. This will be the first major upgrade after Merge. In July 2022, Vitalik noted that after Merge, Ethereum development will be 55% complete. Therefore, there are positive things to look forward to in the coming quarters.
One risk is that developments regarding Ethereum’s roadmap are always behind schedule. However, even after subtracting that factor, Ethereum looks undervalued. He’s gearing up for hefty returns in the next big rally.
