Buy The Dip: 3 Cryptocurrencies To Buy And Hold For The Next 3 Years

Some of the market's most disruptive cryptos are trading for at least 50% below their highs. Let's go shopping.

Last Updated July 23rd 2021

5 Min Read

Cryptocurrencies To Buy And Hold For The Next 3 Years

According to a variety of experts, the best cryptocurrencies to buy and hold are Bitcoin, Ethereum and Cardano.

The crypto market is a highly volatile space, where certain cryptocurrencies were hitting record highs; simultaneously, others dropped down in their value and price. It has shown a considerable decline recently, starting with Elon Musk's Tweet that Tesla will not accept Bitcoin as payment anymore. It was followed by China's recent announcement of banning financial institutions and payment companies from providing any services related to crypto transactions which also caused a decline in the market.

There has been a sudden dip in the prices of Bitcoin, Ethereum, and Cardano, which may appear dramatic but is expected in this volatile market. Such crashes can also open up various opportunities for investors by implementing strategies like buying the dip. Now here are three cryptocurrencies to buy and hold for the next three years.

Cryptocurrencies To Buy And Hold For The Next 3 Years

Bitcoin (BTC)
Ethereum (ETH)
Cardano (ADA)

#1 Bitcoin (BTC)

Bitcoin has been known for its wild fluctuations in price since its inception. The digital asset is prone to volatility, and the price is down more than 30% intraday. Lately, Bitcoin has plunged over 50% to $30,066 from its record high hit of $64,895 on April 14. However, Bitcoin has slowly risen back to about $34,234.67 as of writing.

Bitcoin is known as the king of cryptocurrencies for a reason. Several factors are weighing on the price ranges of Bitcoin, one of which is its substantial institutional support. BTC offers an efficient means of transferring money over the internet. It is controlled by a decentralized network with a transparent set of rules, presenting an alternative to central bank-controlled fiat currencies.

The Bitcoin network has some strong fundamentals making it one of the best cryptocurrencies to buy and hold for the next three years. Micheal Saylor, the CEO of MicroStrategy, says that BTC's "Proof-of-Work architecture creates Seven Layers of Security and serves as the foundation for the world's first & greatest digital monetary network."

Expert analysts advise investors to stick to the HODL method and hold their Bitcoin investment for future returns. The recent bull case for Bitcoin is just temporary. Its previous price rallies are proof that Bitcoin prices will rise again in the coming decades.

Will you buy and hold Bitcoin?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

#2 Ethereum (ETH)

Ethereum is not just a cryptocurrency but a global computing network for decentralized apps. Ether, the cryptocurrency that powers the Ethereum network, has seen a drop of almost 45%, along with Bitcoin and Dogecoin recently. Just after hitting an all-time high of $4,362.35 on May 12, 2021, ETH price has now dropped down to a value of $2,491.41 as of writing.

However, with a high market cap of $288,917,280,162 as of writing, Ethereum tops as one of the best cryptocurrencies to buy and hold for the next three years. This second-largest cryptocurrency uses less energy, has faster transactions and more business applications.

Moreover, the current hot trend and the booming thing in the crypto space is DeFi projects. These projects bring money to the market, and almost all of them are built on top of Ethereum.

Ethereum is poised for a long-term run, as it is adopted by several companies and start-ups recently. The increasing adoption of ETH in the retail payment sphere was further affirmed in February 2021, when Christie's accepted Ether as payment for a work of art by Beeple in an auction.

It is arguably one of the best high liquid investment assets due to its worldwide establishment in trading platforms, exchanges, and online brokerages. Additionally, transaction times are much faster when compared to Bitcoin, and it provides access to several decentralized applications (dApps), which will allow developers to create efficient online tools.

With all this in place, it is best to hold on to your Ethereum investment during these unpredictable swings in price and volatility, as it might open more doors for massive gains.

Will you buy and hold Ethereum?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

#3 Cardano (ADA)

Cardano (ADA) is a third-generation cryptocurrency that has been a strong player in the crypto space with its smart features. ADA price has recently crashed to $1.4964 in the overnight session in May after hitting an all-time high of $2.46 the same month. It is slowly bouncing back after the crash and sits at $1.72 as of writing.

ADA has a market capitalization of more than $49 billion as of writing, making it the fifth-largest digital currency in the world.

It declined sharply because of two main catalysts: Musk's announcement that Tesla would stop accepting Bitcoins and the surge in inflation in the United States in May - both affected ADA's bullish rally.

But despite its short-term volatility, experts and analysts predict that the long-term view of the price of ADA remains bullish. ADA is the best cryptocurrencies to buy and hold for the next three years, as it strives to fight large-scale blockchain adoption problems, such as scalability, sustainability, and interoperability, with a unique Ouroboros blockchain mechanism.

With a team of 100 to 150 developers actively working on the project, it pushed out about 700 commits per week. Following the Goguen upgrade and the Alonzo hardfork, Cardano will unlock smart contracts and usher in enterprise-level, critical, decentralized applications.

These factors make Cardano an actively developing project that would reach new highs sooner than later, making it a viable long-term investment despite its volatility.

Will you buy and hold Cardano?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Cryptocurrencies To Buy And Hold: The Bottomline

Nothing can be taken for granted in cryptocurrencies. Still, few things that can be affirmed are the wide variety of opportunities it opens for investors even after a massive market crash. A savvy investor knows how to handle the volatile market strategically without panicking.

Several practices like buying the dip and HODL help investors gain good returns after a cryptocurrency market crash. As mentioned earlier, the cryptocurrencies we talked about are your best bet to buy and hold for the next three years for good returns.