With so many blockchain-based digital assets available today, choosing from the cryptocurrency market can be difficult for people looking to invest in cryptocurrency.
Recently, the cryptocurrency market took a big hit, crashing to new, unprecedented lows. On the 22nd of January, 2022, Bitcoin was down by about 11%. Other major digital assets like Ethereum, Solana and Polkadot had their prices crash by similar percentages.
Some coins like Tether/USDT managed to keep a stable value in the face of the wild downward spiral.
Still, investors are looking to buy BNB, USDT, Ethereum, BCH, BSV, Yearn, and other altcoins simply because there is a good chance that prices will rise in the future.
Nevertheless, it can be difficult to predict the next big crypto asset accurately. With the hundreds of new names founded on a regular basis, the likelihood of finding the next Solana is just as high as being scammed on buying a Squid Game coin.
Long-Term Investment
When it comes to making profits in the cryptocurrency market, there are two major ways to go about it. This excludes the more recent developments with decentralized finance and decentralized apps.
All of your strategies will be geared toward either long or short-term gain as an investor. To simplify things, the former category is the ‘investors’, while the latter is the ‘traders.’
While traders look to make quick profits by taking advantage of market volatility and sharp price changes in swapping and trading tokens, investors have a long-term outlook.
They choose to HODL. Both strategies have their associated risks. You can lose money on a short-term investment if you buy the wrong coin. HODLing can be a waste of time if you’re banking on a token whose value will never rise.
Thus, it’s important to invest in the right coin if you want to buy and hold it in the New Year. But that’s where we come in; here are a few ideal choices:
Luckyblock
Luckyblock is one of the most highly recommended cryptos that you can purchase in 2022. Its operating protocols are as unique as Uniswap’s, and it stands as a truly revolutionary innovation in the blockchain industry.
Luckyblock is a decentralized lottery system that combines the functions of an online lottery service with the unique features of the blockchain. The result is that users can enter into lottery games from any location without needing a centralized facilitator.
As a blockchain-based system, Luckyblock uses smart contracts to lock its terms and conditions into place. Each financial agreement is linked to a set of scenarios, the fulfillment of which will activate a corresponding counterreaction.
This way, all of the lotteries and fair and true, and malicious third parties cannot interfere with the randomness of the outcome.
If you like what Luckyblock promises, then you can invest in the potential by buying its token. Presently, the project is in a pre-launch phase. But once it becomes available (first on Pancakeswap), you should purchase it.
Shiba.Inu
The Shiba Inu token was launched in mid-2020. Since then, its rise has been meteoric. Although it was hit hard by the recent crypto crash, it is sure to be one of the best-performing crypto assets in the New Year.
Having recently hit new heights, Shiba Inu is highly recommended due to its steadily increasing trading volume on the exchange platforms that it is listed on. Another reason for its increasing relevance in crypto trading is its availability on trading platforms.
Few coins are as publicly-traded as Shiba.Inu, with the token available on all the major crypto exchanges.
Terra
Bear markets are a notorious pitfall for investors. As a result, it is crucial to factor in a means to safeguard against it.
For example, as Bitcoin commands about half of the total shares in the entire cryptocurrency market, any fall in its prices will lead to a fall in the prices of altcoins.
Thus, you should be on the lookout for tokens that do when the market gets bearish. With crypto off to a turbulent start in 2022, you want to be investing coins that outperform bear markets, and this is where Terra (LUNA) comes in.
Conclusion
Other excellent tokens tipped to do well in 2022 are Bitcoin, Ethereum, Solana, Polkadot, and BNB.
Bitcoin, in particular, is sure to rise from its initial setback. In fact, many forecasters have predicted that 2022 will be the year that Bitcoin finally hits the $100k mark.
Only time will tell.