3 cryptos to buy for the next 10 years

Cryptocurrencies are digital financial instruments that rely on cryptography for security instead of being physical currencies like dollars or pounds. Bitcoin (BTC-USD), the first cryptocurrency, was introduced over a decade ago and has since paved the way for many other cryptocurrencies. Today, there are thousands of cryptos to buy, making investors’ heads spin as they consider all the options.

Due to the banking crisis and the possibility of a US debt default, investors are looking to cryptocurrency as a safe-haven asset to survive the current economic turmoil. This was in stark contrast to the vision just six months ago, when many thought the “crypto winter” would last until 2023.

Is it currently a wise decision to buy cryptocurrencies? And if so, which ones should investors consider adding to their portfolios this month? Here are the top three cryptos to buy, or at least think about, right now.

Bitcoin (BTC)

During Tuesday’s morning session, the price of Bitcoin has edged down more than half a percent in the past 24 hours and is down more than 2% in the past seven days. Like other cryptocurrencies, Bitcoin has been struggling lately and has fallen below its 50-day moving average of $28,483. Currently, the price fluctuates around $27,000.

Bitcoin surprised market experts as its value fell to around $16,000 in 2022 from its high of $66,000 in 2021. The pessimistic outlook caused by this decline led to headlines calling Bitcoin a system of Ponzi or pyramid scheme. There were legitimate fears that Bitcoin could fall below $10,000.

In early March, regional bank failures lowered the outlook for the stock market. Yet they have proven to be a positive catalyst for cryptocurrencies, as they have become a cover for investors who have lost faith in traditional financial systems. As a result, Bitcoin is seen as a promising investment for the remainder of 2023.

Besides, Bitcoin Realized Price is the average value of its bid based on the last on-chain move, while the price realized by the long-term holder is the average on-chain acquisition price of coins held off-exchange for at least 155 days.

According to the Blockware Solution newsletter published on May 12, the long-term holder realized price and the realized price are approaching a bullish crossover that previously signaled bear market lows.

Ethereum (ETH)

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Ethereum (ETH-USD) follows Bitcoin trends and is considered a “safe” option in the volatile crypto market. It suffered similarly during the market crash but remains a promising investment in 2023 for similar reasons to Bitcoin. Any additional shock to traditional finance could lead to an opportunity to invest in ETH, which rose 35% after Bank of Silicon Valley (OTCMKTS:SIVBQ) collapse. However, Bitcoin may be a better hedge, as it jumped around 50%.

Despite the current situation, examining its technological developments allows us to better understand its future potential. Its large size and appeal to institutional investors make it a safe haven in times of uncertainty. The platform improves its scalability, security, and reliability through various upgrades. Roll-ups, a smart scaling solution, speed up transactions while reducing usage fees.

Ethereum should have a positive outlook in 2023 due to various factors. The growth of the cryptocurrency industry and the vital role of Ethereum in it offer promising investment prospects. Future upgrades to improve transaction speeds and reduce fees are among the many catalysts that could work in Ethereum’s favor this year, making it one of the best cryptos to buy.

Solana (SOL)

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Similar to other cryptocurrencies, Solana (SOL-USD) saw a significant drop in value last year, losing more than 90%. Although it has performed well since the beginning of the year, it is uncertain whether Solana can maintain its upward trend in 2023. Nevertheless, Solana’s expanding ecosystem has various applications, including decentralized finance , games and non-fungible tokens (NFT). Solana’s layer 1 blockchain network has consistently outperformed Ethereum in all major cryptocurrency areas.

On May 11, the price of a certain asset bounced off a support level created by multiple support methods. This confirms the validity of the level and indicates an uptrend if the price remains above and a downtrend if it falls below.

In other SOL news, Solana Co-Founder Anatoly Yakovenko believes that stablecoin legislation in the United States could lead to an increase in the adoption of digital assets, attracting users from around the world, especially those from countries whose struggling currencies require access to digital dollars. He suggests that stablecoins could be the “killer app” driving the growth of the crypto industry.

As of the date of publication, Chris MacDonald holds a position at ETH, SOL. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.