- While cryptocurrencies corrections are normal, not all cryptos recover from bear markets. It pays to invest in fundamentally strong cryptos in bear markets.
- Cryptos have shown multiple times to surpass their previous all-time highs after pullbacks such as the current one.
- These three cryptocurrencies can significantly magnify even a small amount invested at current prices.
The cryptocurrency market has been bearish since November. From a market capitalization of close to $3 trillion, the total cryptocurrency market cap now stands at just a little over $1 trillion.
However, if history is anything to go by, this is a short-term thing, and bulls will come back stronger than ever before. For context, in 2018, the crypto market crashed and at some point, Bitcoin tested lows of $3100. Most altcoins crashed up to 90%, too. Once bulls returned to the market, most cryptocurrencies made new highs, with Bitcoin testing a high of $69k.
It is also noteworthy that cryptocurrencies have been getting better over time. For instance, adoption is on the rise, and regulators globally seem to be coming to terms with the idea that cryptocurrencies are here to stay.
This means the current pullback is an opportunity to load up on good cryptocurrencies. The pullback is so huge that even if you only have just $300 or less, you could make a lot of money off it, once the market turns bullish again.
If you have $300 ready to invest, the following three no-brainer cryptocurrencies would make for good buys right now.
No-Brainer Cryptocurrencies To Buy Right Now
Bitcoin
The markets, especially crypto, could see more selloffs in this environment before things stabilize. Under these conditions, it is a no-brainer to buy high-quality cryptocurrencies with a low risk of extreme corrections. Bitcoin (BTC) easily tops the list among cryptocurrencies that are a safer bet under current market conditions.
Being the largest and most adopted cryptocurrency, Bitcoin tends to hold value better in down markets than the altcoins. When bear markets end, Bitcoin also tends to recover first, then the altcoins follow.
Essentially, by investing in Bitcoin, you are counting on a lower risk of an extreme downside and the potential to make a good return that can then be reinvested in undervalued altcoins once the bear market ends.
Bitcoin is also pretty undervalued at current prices. It is over 40% off its all-time highs, making it a no-brainer cryptocurrency to buy with $300. If history is anything to go by, Bitcoin is currently at the bottom or is very close to it. As such, by getting in now, you would be in profit if it retests its all-time highs of $69k.
Since Bitcoin tends to blow past its previous all-time highs in bull cycles, the potential ROI is quite high for a small investor who is getting into the market at current prices. In the current setup, analysts are in consensus that in the next bull cycle, Bitcoin could easily blow through the $100k mark.
While there are no guarantees in crypto, the odds are in favor of Bitcoin as a high potential cryptocurrency to buy now if you only have $300 to invest.
Read Also: Bitcoin Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum
Another no-brainer cryptocurrency to buy with $300 right now is Ethereum (ETH). The number two cryptocurrency is 50% off its November 2021 highs of $4800. While it can still go lower, the chances are that Ethereum is very close to bottoming out.
Aside from the speculative aspect of the price, Ethereum has so much going for it that it has pretty good odds of surpassing its all-time highs once bulls retake the market.
One of the key factors that favour Ethereum this year is completing the shift to a proof-of-stake network. A lot of work has been going on towards this front since 2020. In December 2020, Ethereum staking started, followed by two forks in 2021, the most notable one being the London fork of August 2021 that made Ethereum deflationary.
It is widely expected that work on shifting to PoS will be done by mid this year, and the implications are huge. One of them is that Ethereum could obliterate the competition. Over the last 5-years, many platform blockchains have come up, all capitalizing on Ethereum scaling issues. While they may have solved the scaling issues, none of Ethereum’s competitors can match it up in security and decentralization.
Once the shift to Ethereum 2.0 is complete, Ethereum will combine all three important blockchain pillars – scalability, security, and decentralization. This, combined with its strong network effect, could see Ethereum take a much bigger share of DeFi and NFTs.
It is also noteworthy that Ethereum is getting a lot of institutional interest, which is a big factor in long-term value growth. These institutions and their analysts are pretty bullish on Ethereum. All these factors point to Ethereum being heavily undervalued and a no-brainer cryptocurrency to buy today.
Check Out: Ethereum Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Decentraland
Decentraland (MANA) is quite a no-brainer cryptocurrency to invest in if you only have $300 to invest right now. In fact, of the three we have discussed, it has the potential to give you the most gains out of your $300.
Decentraland is one of the cryptocurrencies that have benefited immensely from the massive growth of the Metaverse ecosystem. FOMO around virtual lands saw MANA rally by over 1400% in 2021. However, due to the crypto bear run that started in November, Decentraland has taken a hit. In February alone, MANA is down by 19%. From an all-time high of $5.90, MANA is now trading at $2.60.
Essentially, you would be getting in at a massive discount by getting in now. However, it is not just about price speculation based on the last all-time highs. There is also a lot going fundamentally that could see the Decentraland rally once the bear market ends.
There is growing adoption of the Metaverse, and Decentraland, in particular, is attracting a lot of attention. In January, Samsung announced that it was launching a virtual store on Decentraland.
This came barely two months after a Decentraland virtual land sold for $2.4 million. More recently, a Fintech company lent out $30k that would be used to buy virtual lands on Decentraland. This marks the start of an era where mortgages to buy virtual lands could become a thing. That’s a big deal, one that could see demand for MANA shoot to new heights once the cryptocurrency market turns bullish again.
Analysts are pretty optimistic about the Metaverse, too. According to Morgan Stanley and Goldman Sachs analysts, the Metaverse has the potential to explode into an $8 trillion market. For top Metaverse players like Decentraland, that’s a bullish signal and makes it a pretty good buy at current prices.
Don't Miss: Decentraland Price Predictions
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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