The blockchain industry and cryptocurrencies have ballooned consistently over the past few years. Unfortunately, the cryptocurrency market is currently experiencing a downturn, and there has been a dip in the price of several major tokens. But, indeed, crises have always opened doors of opportunities to secure good returns, especially for long-term investors.
Coming off the huge drop in the crypto market seen in 2022, January might be a potential candidate for a bounce-back month. Here are six crypto coins that experts favour as buys in January.
- Bitcoin (BTC)
- Ethereum (ETH)
- Chainlink (LINK)
- Shiba Inu (SHIB)
- Dogecoin (DOGE)
- Ripple (XRP)
Bitcoin (BTC)
Bitcoin, the oldest and the largest cryptocurrency, is now a household name. The coin's success has paved the way for the emergence of thousands of other digital assets. The leading digital asset has the highest liquidity value compared to any other cryptocurrency in the market.
Bitcoin is a decentralized digital coin with no restrictions. It is widely accepted across the globe, and the increase in popularity of this coin has led institutions to pour millions of dollars into it.
The benefits of BTC are encouraging people to invest in these digital currencies. As its demand increases, so does the price. It should be noted that Bitcoin’s future is bright as more and more people are willing to invest in it. Now that it is experiencing somewhat of a downturn compared to its ATH, it is the best time to buy it. The 31 experts following Bitcoin have a consensus strong buy on the coin, with an average 12-month price target of $72,500.
Check Out: Bitcoin (BTC) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Ethereum is a decentralized, open-source technology with several uses and applications across the tech world, especially for gaming, music, entertainment, and decentralized finance (DeFi). Along with its native token Ether (ETH), the network hosts everything from decentralized finance applications (DeFi) and non-fungible tokens (NFTs) to enterprise blockchain solutions.
This makes Ethereum one of the most popular and widely-adopted cryptocurrencies in the market. Moreover, ETH has grown immensely in value since its inception. Once it fully upgrades to the Proof-of-Stake consensus, the demand and value for this crypto will skyrocket further.
The average price target of the 29 experts covering Ethereum is $7,200 per coin. Coupled with analysts' consensus strong buy rating, ETH could prove to be a good entry point.
Don't Miss: Ethereum (ETH) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Chainlink (LINK)
Chainlink is an industry-standard oracle network that connects smart contracts with real-world data. By bridging the gap, it enables access to payments, events, and more and thus expands the capabilities of smart contracts. Moreover, it does this without compromising the network security and reliability.
Chainlink also provides complete transparency to its users by giving them access to monitor and verify its open-source code, the performance of its oracle networks, and the quality of individual node operators. LINK is the native token of the Chainlink platform. The coin helps finance the project's growth. Last month, experts upgraded the Chainlink crypto to outperform with a price target of $55, in part due to the project's focus on garneing new networks.
Read Also: Chainlink (LINK) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is a recent breakout meme token that captured the interests of the blockchain investment community. Many see this token as a knock-off of Dogecoin since both borrow inspiration from the famed Shiba Inu.
Despite being created with a light-hearted approach, the Shiba Inu token provides users with more earning potential. The main goal behind the project was to create an ERC-20 token and ecosystem that was priced low enough that anyone could own millions of them.
Investors and community members that missed out on the Dogecoin craze are eager to look for the next big thing. SHIB appears to have positioned its market entrance well to capture this wave as the network has seen some impressive growth since its inception.
According to experts, Shiba Inu is an incredibly positive project. The meme coin expects to grow faster than the overall crypto market, and analysts agree, slapping at $0.0000456 12-month price target and strong buy rating on the coins.
Check Out: Shiba Inu (SHIB) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Dogecoin (DOGE)
Dogecoin is a first-generation cryptocurrency that can be used to transfer value globally in a secure manner. Famously, Dogecoin features the Shiba Inu from popular internet memes. The developers used this character to keep the project light-hearted. Like Bitcoin and Litecoin, the purpose of this coin is to allow for peer-to-peer transactions to occur in a censorship-resistant manner.
The 25 experts following the Dogecoin crypto have a consensus strong buy on the coin, with an average 12-month price target of $0.365.
As of late, Dogecoin has seen considerable coverage in the media due to notable price hikes.
Don't Miss: Dogecoin (DOGE) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple (XRP)
Ripple is one of the most popular cryptocurrencies, thanks to its partnership with various established financial institutions and banks. Also, more than hundreds of financial institutions across 55 countries are already using XRP to facilitate transactions.
The price of XRP has seen a colossal rise over the past few years. This is because it helps banks and financial institutions carry out global money transactions instantly, without even considering exchange rates. Moreover, XRP has a faster transaction time as compared to other cryptocurrencies. The team has also handled the SEC lawsuit with aplomb, causing many to believe in a Ripple-positive outcome. It would be smart to invest in XRP sooner rather than later, when its price could shoot up.
According to crypto experts, XRP is an incredible project. The coin expects to increase in value this year. Analysts slapping at $1.56 12-month price target and strong buy rating on the coin.
Read Also: Ripple (XRP) Price Prediction
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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