Forget Bitcoin: 3 Cryptocurrencies to Consider Instead
While Bitcoin remains one of the best cryptocurrencies to buy and hold for the long term, it’s hard to ignore the fact that the oldest name in crypto hasn’t done much of anything recently. Bitcoin has largely been trading sideways for the past two months, and is not showing many signs of going full beast mode anytime soon.
With that in mind, it could be time to forget about Bitcoin for a little while and find other cryptocurrencies that have strong catalysts in place right now. The three cryptocurrencies that are on my radar right now are Ethereum (CRYPTO: ETH), Fetch.ai (CRYPTO: FET), and Chainlink (CRYPTO: LINK).
Ethereum
The obvious non-Bitcoin pick right now is Ethereum, and that has everything to do with the SEC’s recent pre-approval of new spot Ethereum ETFs. Once these ETFs start trading, perhaps as early as this summer, they could lead to a massive influx of new investor money into Ethereum, and that could push up its price for the foreseeable future.
Ethereum’s price could surge with new ETFs
Fetch.ai
If we’re really going to forget about Bitcoin, then we need to find a crypto alternative with truly stratospheric upside. That alternative is Fetch.ai, which is currently one of the hottest AI crypto tokens in the world right now. For the year, Fetch.ai is up a blistering 195%, and the upward trajectory could continue as long as investors are interested in everything AI-related.
Fetch.ai’s AI token is on fire
Chainlink
Finally, there’s Chainlink. Long-time crypto investors probably remember this so-called oracle coin from the previous crypto bull market cycle, when it absolutely exploded in value. Back then, the investment thesis was all about decentralized finance (DeFi), and how Chainlink was becoming an integral part of this exciting new blockchain niche.
Fast forward to 2024, and the new investment thesis for Chainlink is all about real-world asset tokenization. Often referred to as just RWA tokenization, this describes the process of transforming real-world assets (such as stocks and bonds) into digital assets that can be traded on a blockchain.
Chainlink’s new focus on RWA tokenization
Is it really possible to forget about Bitcoin?
So there you have it: Three big trends, and three cryptos that could be well-positioned to benefit from those trends. While it’s close to impossible to forget about Bitcoin (which should be part of your crypto portfolio if it is not already), these three cryptos arguably have much stronger tailwinds heading into the second half of 2024. Adding a light sprinkling of these cryptos to your overall portfolio could be the key to supercharging your returns for the year.
