Buy these cryptos during the dip and double your returns over the long run.
Although the kind of volatility the market is going through during this bear market is slightly higher, it also opens a door for investors to buy the dip. Experts opine that this is the best time to add some strong crypto assets to your portfolio at a small amount. So here are the 7 cryptos to watch amid digital assets’ sudden drop to diversify your portfolio.
Bitcoin (BTC)
History has proven that BTC is always the best buy during a bear market scenario.
The 2022 bear market has hit Bitcoin hard. As a result, it has been teetering around the $20K mark for months now. However, experts opine that this is a great opportunity for long-term investors as Bitcoin will always remain the best crypto to watch amid digital assets’ sudden drops.
As more companies and merchants adopt Bitcoin as a method of payment, the value and price of BTC would reach new levels. Major companies like Microsoft, AT&T, Starbucks, PayPal, and Amazon, have already accepted BTC, and the list would go on in the coming years.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Thanks to the enthusiasm surrounding the Merge, ETH is certainly one of the 7 cryptos to add to your watchlist amid digital assets’ sudden drop.
ETH has experienced greater turbulence than BTC in the recent drop with the news of bugs found in its much-anticipated network upgrade, the Merge.
But crypto enthusiasts are still confident in Ethereum and believe that the targeted shift from PoW to a PoS model is expected to make many positive changes. The increased coin burn would significantly boost the demand and value of ETH in the coming years, making it the best crypto to buy now amid the sudden market drop when ETH is trading at $1,544.09.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Tether (USDT)
Tether is one of the most popular and best stablecoins to add to your watchlist in 2022.
USDT token is specifically designed to be pegged to the US dollar, expected to maintain a constant value of $1. Experts predict that even after the stablecoin crash and amidst the sudden market drop, Tether remains to be one of the best cryptos to add to your watchlist.
One reason for the support for Tether is the transparency of its reserves, which have been a leading source of stability, allowing us to build a tool for the global economy. USDT could play a significant role in the remittances market, facilitating the transfer of dollars worldwide without punishing fees.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
The price of XRP is aiming for a comeback in 2022, making it one of the 7 cryptos to watch even amidst the digital asset’s sudden drop.
Currently, when it comes to XRP, we have to slightly shift our focus from the market concerns to the courtroom scenarios. Ripple has been embroiled in a legal battle with the SEC for over a year now. Although there have been several ups and down's for XRP in the lawsuit, experts believe that the crypto would spring back to its bull run with the case ending in favour of Ripple shortly, triggering the price of XRP.
Ripple has already entered into numerous partnerships with financial institutions, and adding to the list is its recent coalition with FLUF World, to launch a new decentralized blockchain metaverse network. These collaborations make Ripple one of the strong crypto with high future potential.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano (ADA)
Thanks to its series of network upgrades, ADA is a worthy addition to your crypto watchlist in 2022.
ADA has not been immune to the bear market scenarios and sudden drops looming over the crypto market lately. But even during these conditions, Cardano remained one of the 7 cryptos to watch since it features a great technical foundation, a supportive community, and a skilled team.
Cardano’s anticipated Vasil upgrade and launch of Hydra are a few reasons investors are still bullish about the token in 2022. The introduction of a new wallet known as Lace and the launch of Cardano’s EVM tool, aimed to help users develop solidity apps from scratch and migrate current projects, has also bolstered the outlook of the coin.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Chiliz (CHZ)
CHZ, the coin of sports fan token platform Socios, has experienced an impressive rally, even amidst the sudden market drop.
After signing a $100m partnership deal with FC Barcelona football club and announcing a 24.5% stake in Barca Studios, CHZ, the native token of Chiliz, has garnered the attention of investors worldwide.
By empowering fans to become influencers of any competitive entity, Chiliz aims to elevate everyday fan engagement experiences.The crypto has entered into partnership deals with 13 American football franchises and attracted an impressive array of customers, including more than 100 major global sporting organizations, making CHZ a good buy now before the price skyrockets to new levels.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
EOS (EOS)
The EOS blockchain has established itself as one of the most popular Layer-1 smart contract protocols in the crypto sphere.
Specifically designed to facilitate scalability, EOS is a direct rival to Ethereum’s dominance in smart contracts. The EOS digital asset’s sudden price drop should not deter you from investing in it because it has partnered with dozens of blockchain projects facilitating fast transactions and a flexible dApp platform. It acts like a catalyst that offers lightspeed transactions on a global scale, because of which it has extensive application in decentralized apps and the DeFi ecosystem.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
Rather than reacting based on FOMO during sudden drops, the best way for investors is to strategize and diversify their crypto portfolio. To help you out, these are the 7 cryptos to watch closely, even amid digital assets’ sudden drop.
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