3 Long-Haul Crypto Picks to Buy and Hold for the Next 10 Years

Stocks to buy

As the cryptocurrency market continues to evolve and mature, many investors are looking for long-term opportunities to invest in digital assets. While the crypto market is still relatively new and volatile, there are several promising projects with the potential to grow significantly over the next decade.

The breakout of Bitcoin (BTC-USD) and the anticipation of a spot Bitcoin ETF suggest the possibility of a new crypto bull market. Historical trends indicate that Bitcoin’s performance often leads to significant rallies in altcoins. Looking forward, it is advisable to explore promising crypto assets beyond Bitcoin. However, caution is crucial, as altcoins are highly volatile and speculative, with many facing the risk of failure or obscurity.

Now, let’s take a look at three long-haul crypto picks that could be worth considering for your investment portfolio. These are based on a thorough analysis of the projects’ underlying technology, team, and market potential.

Bitcoin (BTC-USD)

Bitcoin cryptocurrency with pile of coins, Vector illustrator

Source: Sittipong Phokawattana / Shutterstock.com

Bitcoin’s value has more than doubled to $37,500 since hitting $16,000 in December 2022.

With potential approval for Bitcoin ETFs, the outlook suggests continued upward momentum. This holds especially true considering the current price remains below the November 2021 all-time high of $68,000. 

Anticipation of the Securities and Exchange Commission (SEC) approving the first Bitcoin ETF fueled a recent surge, attracting substantial investments. Amid expectations that the Federal Reserve would refrain from further interest rate hikes, investors turned to riskier assets, including cryptocurrencies. Consequently, Bitcoin appears poised for stability in the coming years. Hence, it becomes a reasonable choice for those seeking inflation hedges in the current economic climate.

After reaching new 18-month highs recently, some analysts, including Credible Crypto, observed positive indicators for potential upward movement. Buyers absorbing sell volumes near local highs, low open interest in derivatives markets, and steady spot demand suggest a setting for the next upward move.

Solana (SOL-USD)

Concept art of the Solana (SOL-USD) blockchain.

Source: Shutterstock

Solana (SOL-USD) achieved a record-breaking daily transaction count of 51.63 million for the year.

This marks a substantial deviation from the trend, which had hovered around 20 million since late August. Buyers made efforts to surpass this threshold, with a notable attempt on September 13. They recorded about 18.58 million total daily transactions for Solana.

Quantum, a new block explorer developed by the SolanaFM team, aims to enhance transparency on Solana’s data-heavy ledger. Unlike other explorers focused on intricate details, Quantum prioritizes simplicity for easy readability. With 53,000 signups, it arrives as Solana’s ecosystem rebounds from a prolonged downtrend. Driven by SOL’s rising price, and currently at $59, up from $19 in the bear market, it could potentially hit $100.

Avalanche (AVAX-USD)

Avalanche AVAX symbol. Trade with cryptocurrency, digital and virtual money, banking with mobile phone concept. AVAX-USD

Source: FellowNeko / Shutterstock

Avalanche (AVAX-USD) demonstrated a notable 32% surge, capturing attention despite a subsequent seven percent dip. Yet, the overall fundamentals of Avalanche remain unchanged.

Network growth is modest at 0.29%, suggesting limited enthusiasm. Notably, large holders reduced by 0.55%, while large transactions surged to over 11%, a bullish sign. However, with AVAX still presenting an overheated profile and a 59% in-the-money ratio, caution is advised.

Also, Avalanche’s recent collaboration with Amazon’s cloud computing division (AWS) is a significant stride. It’s expanding its influence across corporations, institutions, and governments, even in the crypto market downturn.

Further, with effective real-world applications, Avalanche solidifies its position in the DeFi sector. In 2023, the cryptocurrency witnessed a recovery, reaching $15.41, marking a 38% year to date (YTD) increase. This growth propelled its market capitalization to an impressive $5.48 billion. Clearly, AVAX is establishing itself as a key player in the evolving crypto landscape.

On the date of publication, Chris MacDonald has a LONG position in SOL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

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