The crypto bull run of 2021 was followed by a sharp correction in 2022 – entire crypto projects like Terra (LUNA) and exchanges such as FTX blowing up created one of the longest bear cycles in the crypto market. However, while the recent state of the crypto market has bearish, it is now showing signs of recovery in 2024 – and we must not forget that crypto, like stocks, moves in cycles.
Where there are bad days, good days are near, and vice versa. While 2022 did give a major blow to confidence in crypto as an invesment in general, with the market performance of some altcoins hitting close to their all-time lows, January 2023 saw a massive bear market rally. Many traders are now asking – is cryptocurrency a good investment in 2024?
Read to learn whether cryptocurrency remains a worthwhile asset to invest in this year and also learn how to make the most out of even the most choppy market conditions.
Is Cryptocurrency a Good Investment in 2024? Predictions
When you’re pondering the question – is cryptocurrency a good investment? – first ask yourself if you have the appropriate risk tolerance needed to deal with this speculative asset. It is an important factor since “going all-in” is not always the best route, given how volatile crypto can be, demonstated by the price chart below.
The total crypto market cap peaked in Nov 2021 at $3 trillion, currently $1 trillion
Here is a summary of what we think the answer to this question could include:
- Cryptocurrency is capable of generating parabolic gains. That was made evident by the 2021 bull run when multiple tokens, aside from Bitcoin and Ethereum, reached highs that allowed even the most modest investors to accumulate massive wealth.
- Cryptocurrency provides faster transaction speeds than fiat. Bitcoin started slow, but more crypto assets are emerging, improving upon the old chains and offering better and higher transaction speeds. Solana, for instance, offers 50,000 TPS and is the fastest blockchain in the world right now. More chains are emerging, promising better transaction speeds – upwards of 100k, even a million TPS is now in sight.
- Cryptocurrency is a volatile asset class. It hardly follows the traditional market fundamentals and almost always follows the whims of the community and the future prospect of the token. That is a factor that has pushed the crypto price to an unprecedented scale and has also caused massive drops depending on the market conditions.
- Cryptocurrencies remain a novel type of investment. Yes, Bitcoin was introduced in 2009. However, what followed after was a stream of new crypto assets with the same value – all of them were meant to be traded. However, the rise of blockchain technology and its awareness among most traders has led to an influx of new, utility-based cryptos with real-word use cases. These assets are new – and most likely have set the benchmark for the assets to come.
- Since cryptocurrencies are volatile – and there are many scam crypto projects on the market, it is important for investors to be aware of the risks involved. Before considering any crypto as an investment option, DYOR – Do Your Own Research – is the mantra to stick to.
- People must look beyond question – “Is now a good time to invest in cryptocurrency?”. Apart from making predictions by looking at some technical indicators, there is no way to precisely predict the movement of a crypto’s price. The question should be, “how much should I invest in X asset”. The answer to this is a hedging process where instead of putting in massive amounts in one crypto, people buy a small number of tokens at regular intervals.
- No one should put all their eggs in one basket – meaning no one should invest in ONLY one cryptocurrency. Diversifying crypto investments is the key here. It is a risk-averse technique that allows people to compound their gains in the bull market and offset their losses in the bear season. Also, cryptocurrencies must not be the only asset that people invest in. Investors must look to traditional assets alongside cryptos, like stocks, ETFs, and index funds.
- Investors must always be on the lookout for crypto presales. The presale cryptocurrency projects let people become early movers and help them generate profits through price appreciation that happens when the presale goes into another stage. Also, the marketing and interest during the presale pump the value of the token massively once it finally lands on cryptocurrency exchanges.
The bottom line is – people should have realistic expectations when they invest in cryptocurrency. No longer they the quick-rich schemes that many thought when many altcoins reached their all-time highs in 2021. People are getting more aware and regulations more stringent. In light of this, risk should be assessed, research should be done, and potential upsides of an asset should be analyzed before finding the right time to invest in crypto.
Check out the Best Crypto Investment of 2024
Why Cryptocurrency is Still a Good Investment
The bear market of 2022, led by the two former darlings of crypto – LUNA’s Do Kwon and FTX’s Sam Bankman-Fried – shook a lot of faith retail investors had in cryptocurrencies. The resultant calls for crypto regulation are also making new money averse to these speculative assets.
However, those who believe in the underlying technology – and there are many of them – understand that these assets are here to stay. Also, despite the 2022 bear market that has consolidated the voices of many crypto detractors, many investors still gravitate toward crypto and its offerings. The bull run of 2021 didn’t happen out of the blue – there was a discernible reason behind it.
And the bear market has arrived as a great lesson to many – one that will only improve the quality of cryptocurrencies and the trading habits of investors from this point forth. With that in mind, here are the many reasons why the cryptocurrency is still a good investment for everyone involved.
Cryptocurrency Provider Unparalleled Transaction Speeds
There is nothing more intrusive and annoying than the slow transaction speeds related to fiat deposits – especially when people are transferring money outside the country. Wire transfers, as secure as they are – which they are not – take up to 24 hours to transfer. That makes immediate transfers for critical reasons a hassle.
Cryptocurrencies, on the other hand, allow the transfer of money across countries in a matter of minutes. Granted that some scalability issues have acted as a roadblock to transferability, new cryptocurrencies are being developed that are specifically addressing the issues of the old.
Bitcoin, the first crypto, for instance, has a transaction speed of only seven blocks per second. Ethereum started out handling 13 to 14 blocks per second. Solana, a cryptocurrency project that emerged and called itself the “Ethereum killer”, offers 50,000 transactions per second – and now is the fastest blockchain in the world.
But Solana is not the end. Many new cryptocurrencies are emerging, and all of them promise better speed. So, we might see a crypto project with above 100k TPS in the future.
Cryptocurrencies Are Still Coming Up As Reliable Investment Products
Despite the recent shortfalls of crypto trade, we must not overlook one simple fact – cryptocurrencies are still new. And also, don’t forget that these now “overly risky” tokens are the same assets that reached more than $3 trillion in valuation during the 2021 bull-run, with Bitcoin leading the charge at upwards of $1 trillion market capitalization.
It was soon after that many African and South American countries started to accept Bitcoin as legal tender – El Salvador is one of them. To these countries, cryptocurrencies have emerged as a hedging asset that can take them out of the hyperinflation state they are in.
And when it comes to Bitcoin, many experts say that it is still undervalued. Many crypto watchers have gone as far as to say that Bitcoin will be worth $100k in 2024 just as the largest bear market subsides.
And it is a natural thing to say. Bitcoin, in many forms, is like the internet when it first landed in the early 1990s. People didn’t bet on it becoming as successful as it did. Cryptocurrencies are the same, underappreciated and undervalued technologies that will gain momentum and gain it fast once more of their utilities come to the surface.
Web 3 will be a necessity in the future, and blockchain is the enabler of that future. And since cryptocurrencies are what power the blockchain – their value is bound to increase in the coming days.
And as cryptocurrencies continue to appear more reliable as an investment product, more people will gravitate towards them. We witnessed that in early 2022 when many people participated in presale cryptos and made parabolic gains soon after.
These instances make cryptocurrencies a high-growth investment, especially for early movers and those who have the foresight to buy the dip.
Bear Markets Present a Chance to Buy Cryptocurrencies at a Discount
The current bear cycle will remove many cryptocurrencies from circulation – that’s the truth. We saw it with LUNA and FTX. And let’s not forget about other thousands of assets that ceased to exist because they couldn’t take the freezing winds of crypto winter.
But the assets that persist still continue to maintain a solid ground. There are people that still bet upon them – hoping to make things turn around.
And when there is a reversal, it is these investors that make parabolic gains.
What we mean to say is that during bear markets, cryptocurrencies are available at a discount price. Buying them at a discount allows investors to make massive gains when the bear cycle ends and the bull cycle arrives.
Let us take the example of Ethereum.
- Ethereum experienced its first bull run in 2018 when its price went from near $200 to beyond $1000.
- Then the 2019 bear season arrived, which pushed the ETH price to sub-$100 levels.
- After accumulating at the same price until the mid of 2020, things started to change.
- And finally, when the November 2021 market arrived, the price of this asset exceeded $4k – which is a 4000% increase.
- These massive gains made Ethereum the second-biggest cryptocurrency in the market.
Ethereum price chart
2022 saw the Ethereum price retrace steeply – to below $1k at one point. And after some volatility, the token has once again found stable ground at above $1.5k. Ethereum is now accessible to multiple traders at the current price point. And as more buyers come in. the price of this asset will increase in the future.
And once this bear cycle ends, the upcoming bull market will be big.
Overall, bear markets make cryptocurrencies accessible to ordinary traders – encouraging maximum participation. The new influx of buyers can have an unintended effect of pumping the price of an asset.
It allows One to Create a Diverse Portfolio
Diversification is the key to successful investment for any asset, and cryptocurrencies are no strangers to that philosophy – especially since there are more than 22k cryptocurrencies to choose from.
While not all of them make it to our list of the best cryptos to buy, some of them have untapped potential that will be realized once these projects grow. Finding which ones, however, is the really difficult part. But when it works, the gains are often parabolic.
Another factor of cryptocurrencies is their ability to give fractional ownership. Investors don’t need to buy one Bitcoin or one Ethereum token when they buy cryptocurrency. They can invest what they can afford and get an equivalent amount of fractional crypto in their portfolio.
It does two things. One, it increases participation. And secondly, it keeps the risks minimum. When the risk is minimized, people are encouraged to diversify their assets. While diversification can also be risky, doing so with the knowledge of the markets allow people to offset their losses or compound their gains depending on the market conditions.
The Potential Upsides of Certain Assets (Presales) are almost Immediate
2022 emerged with multiple presale offerings. These tokens were offered to the public before the token generation event that puts them on listing exchanges.
Presales allows people to invest in crypto as an early mover and is similar to the Initial Public Offering. It allows the team to develop the hype and technology behind cryptocurrencies, and when the listing happens, the pump is almost immediate.
Another big factor that works in favor of the presales is that most of them happen in multiple stages.
And since the listing price is equivalent to the final stage price of crypto. Those who participated in the first stage would get 3x gains – guaranteed.
In 2022, Lucky Block went on to become the first presale crypto to reach a $1 billion market capitalization after it got listed on exchanges following its presale.
And since more presales will come from this point forth, investing in cryptocurrencies is a good idea.
Cryptocurrencies Have Performed Well in The Past – And Can do So Again
The 2021 bull run allowed investors to make many to make high levels of gains, even at small investments. It showed the world that this speculative asset is capable of making high returns that traditional markets can’t necessarily parallel.
However, being a speculative asset is the best and the worst thing about cryptocurrency. Since there is no traditional trend that these markets follow, making crypto price predictions isn’t easy.
But that doesn’t take away from the potential of parabolic gains cryptocurrencies can make. While the old guards of crypto like Bitcoin and Ethereum might not see the parabolic gains they were able to generate in the past, there are newer cryptocurrencies with more utilities and upsides that can possibly mirror the same feat.
That’s not to say that Bitcoin and Ethereum have no chance of making higher profits. As we said, Bitcoin, to this day, is seen as an undervalued asset by some of the industry’s more bullish experts. They believe that it has the potential to reach $100k once the next bull phase arrives.
That bull phase might have a bigger impact on certain presale tokens like Dogecoin20. Since people have been asking for metaverse tokens that are more inclusive and provide a better gaming experience, products like this will likely see exponential gains in the future.
What are the Risks to Consider Before Investing in Cryptocurrencies?
Is cryptocurrency safe? That is one question that reverberates through the entire crypto space. Cryptocurrency is an enticing market that’s capable of generating manifold gains for beginners as well as novice investors. However, like any asset, it has risks – but those risks are aggravated because of crypto’s speculative nature.
Therefore, investors must weigh all the risks before investing. Also, understanding the risks decides whether a particular cryptocurrency is a good investment or not.
Volatility Risks
Here is an example to demonstrate the volatility risk surrounding the crypto space.
- For instance, if a cryptocurrency’s official page showcases a great roadmap but so far there has been no development about the same – the token probably is a good investment.
- Another factor to understand is the volatility risks associated with cryptocurrencies. LUNA crash led to the cryptocurrency market capitalization dipping below $1 trillion because of Bitcoin’s massive retrace. The token was able to pull back to some degree, but the FTX crash led to many institutes selling off their holdings which led to the market cap dropping to $817 billion.
- The middle of the first month of 2023 saw the cryptocurrency markets coming back. People are in a rush to escape the winter, and the market capitalization has now been pushed above $1 trillion once again, with Bitcoin’s market capitalization being $861 billion.
For those looking for risk-free, stable returns, this level of volatility might be too much to handle.
When the market reaches its peak, it is generally a sign that retracement is on the way. However, many people are not aware of it and end up buying high. It then creates a lossy scenario because the crypto price retraces are often dramatic.
Security Risks
Another big risk to consider when investing in cryptocurrencies is related to security. The blockchain trilemma is still very much prevalent.
If a chain is decentralized and scalable, it can’ be fully secure. If a chain is decentralized and secure, then devs will run into scalability issues, and if a chain is scalable and secure, then it mostly means that it is under the control of a central authority – which is against decentralization.
And since decentralization is the major selling point of blockchains, security issues – even when the devs don’t want to – are kept somewhat on the back burner.
Another major risk associated with security is the number of fake cryptocurrencies that are available in the market. Thankfully, fishing them out is easy since their roadmaps are badly worded, and their official websites often don’t contain much information.
However, many new fake assets are arriving where scammers have taken special care to be seen as legitimate as possible.
Investment Risks
Another large issue with cryptocurrency investment comes from a lack of research. While diversifying your investment and investing in multiple cryptos is important, that requires thorough research. That means reading lengthy whitepapers that are often too technical to be understood by a layperson.
That leads to people finding one crypto to get behind and stick with. In the best circumstances, such assets can blow up and make massive gains for investors. But the more common occurrences of such cryptos are bad ones – where many end up losing all of their capital.
Many LUNA holders lost their life savings the market crashed in May 2022. Many tweeted to have lost their homes. And unfortunately, many resorted to self-deletion.
Therefore, hedging while investing is important – meaning one must invest in multiple cryptos in small amounts to make the most out of this situation.
An Analysis of Volatility of The Crypto Market
Navigating the cryptocurrency market becomes easier when we analyze the source of volatility of the crypto market.
Note that cryptocurrencies, like traditional assets, move in price depending on demand and supply. And the demand for crypto is dedicated to the positive sentiment people have toward it.
If a cryptocurrency project has brought in a new update, the sentiment becomes positive. That leads to huge waves of buying pressure from both institutional and individual investors. The 2021’s bull market is one instance of that.
The more recent example of this buying pressure is the LUNC performance. LUNC, or Terra Classic, is the hard fork of the original Terra blockchain and is now operated by the community. In the last quarter of 2022, the LUNC community introduced a 1.2% burning tax and staking.
Both of these factors combined with create a buying frenzy, and for the next few days, LUNC destroyed all the market fundamentals to reach its all-time highs. While many thought that it was only those overly bullish on LUNC who bought the tokens, charts show that many outsiders and new investors also gravitated toward it.
The update induced FOMO in the market, and at one point, LUNC reached a market capitalization of $2.85 billion. That was one of the rare instances of a bull market scenario inside a bear season.
On the other hand, when Terra Luna fell into a death spiral and crashed the entire crypto market, FUD – Fear, uncertainty, and despair – became the primary things to be in the minds of the people. Institutions and individuals organized massive sell-offs to get rid of their LUNC holdings, as well as their Bitcoin and Ethereum holdings.
Then the FTX crash further worked its way to vaporize whatever trust people had in the crypto market. Bitcoin and Ethereum dropped to their lowest value in 2022. Bitcoin dropped below $20k, and Ethereum struggled to stay above $1k.
And in January 2023, the prices are back up again. Experts say that the economic slowdown has led investors to believe that Fed might delay increasing the interest rate – and that is moving up the price, alongside other bullish news such as Amazon expressing an interest in crypto again.
Despite the volatility, crypto enthusiasts believe that there are only upsides to investing in cryptocurrencies in the long run.
When it comes to pricing Bitcoin, it is done against the US dollar, much like traditional assets such s gold and ETF. Other currencies, however, must also take the value of their currency against the dollar into account when considering the price of crypto.
How to Deal with Crypto Market’s Volatility
Cryptocurrency’s volatility is one of the crypto market’s biggest strengths and its biggest weaknesses. While it does make crypto unappealing to risk-averse investors, it does give people a chance to make parabolic gains if they are willing to get down and research and invest properly. The profits that you can generate are high.
Here are a few tips for dealing with the crypto market’s volatility and making gains.
Don’t Invest Impulsively
Terms like FOMO and FUD have only become so much more prevalent in the crypto space because the emotional drive to invest (or not invest) in crypto has astronomical consequences for crypto prices.
It is those emotions that drive people to make bad investment decisions. One look at Twitter, the bot tweets showing the “to the moon” emoji show whatever needs to be said. Therefore, always make sure that when you invest, your emotions aren’t involved.
If crypto is performing badly, find out the reason behind it. Go on social media. Listen to actual crypto experts and read the whitepapers yourself. Learn about the team if you have to. Your job is to make sure that you have enough information to act logically and not get swayed by emotions.
Invest in Small But Regular Increments
Do not invest a lot of money in one go. Invest sparingly and at regular intervals to ensure that you can make split-second decisions and drop out when the market isn’t moving in a positive direction.
And if the crypto prices drop, your losses won’t be heavy. This strategy is known as the dollar-cost averaging strategy.
Investors use this strategy to play the long game – meaning they look for long-term investments and invest in little amounts to hedge against the market. And when the bear market arrives, you can buy a small amount of crypto at a discount. When the next bull market arrives, and you sell your assets, you will generate more profits.
Diversify your Crypto Investments
Cryptocurrencies are volatile, and some cryptos are more than others. DeFi coins like Uniswap often trade in volatile zones but bring high gains. While tokens like stablecoins choose a more non-volatile path and bring small but regular gains.
Therefore, invest in a mixture of cryptocurrencies if you want to make it big in the crypto space. Pick among a mixture of crypto assets. And if you don’t want to deal with the research, it takes to find a diverse range of cryptos to invest in, go to eToro and find one of the crypto bundles.
Leverage Asymmetrical Upside
When you see an asymmetrical upside – crypto rising massively without much reason -make sure not to be swayed by emotions and pick logic instead. For instance, January 2023 has seen Bitcoin going beyond the 23k mark due to massive bull action. However, the token is still in the oversold zone according to the RSI indicator.
That could mean a reversal is in order. So, if you are a holder, you can either take immediate action and sell it to make small gains, or you can play the long game.
But to decide which direction to take, go to trading view and get a thorough look at different technical indicators before you make a decision. Watch the moving averages, Bollinger bands, and Fibonacci retracement levels as closely as you can.
The Arrival of Utility-Based Cryptos and Their Impact on Investments
The utility is a term that has only recently started to be associated with cryptocurrencies because people want tokens to be more than tradable assets.
However, 2022 has seen the demand for utility cryptos rise. While Bitcoin’s ability to be more valuable than gold when it comes to storing value has been noted, other utilities are also needed.
- Projects like Ethereum have the utility of creating smart contracts for other cryptos – which has led to novel concepts like DeFi tokens and Web 3 tokens.
- Binance Coin is a DEX crypto that allows you to lower your trading fees when you are buying or selling cryptocurrencies on Binance.
Utilities ensure longevity for a cryptocurrency. The developments happening to a blockchain project keep the users engage, and the price stabilizes or goes up.
On the other hand, the best memecoins are nothing more than joke tokens. They don’t have any utility to speak of, and their price movements rely on good words from a celebrity like Elon Musk.
However, seeing the value use cases bring into a lifecycle of crypto assets, many of these memecoins have shifted gears and are now planning to use utilities of various forms.
Cryptocurrencies As Short Vs. Long Term Investments
The best crypto for intra-day trading allows investors to make profits in short bursts as they leverage the asset’s rampant volatility. For a long time, this approach has been the center point for many cryptocurrencies. However, the volatility often doesn’t lead to positive results and can cause more harm than good
That’s why people have now started to look at more long-term assets and are creating long-term investment plans, such as employing a dollar-cost averaging strategy.
Long-term investment strategies take away the worries of keeping an eagle eye on short-term price movements of crypto. Just checking an asset’s movements once a month will do. And when employed correctly, volatility does not matter, and people still make massive gains over time.
However, finding a cryptocurrency investment worthy of long-term gains is the issue here – which requires a fair amount of research.
But that’s not to say that short-term trading strategies aren’t worth your time. Presale cryptos allow you to invest in crypto in the earlier stage, and as their price appreciates in subsequent stages, the short-term returns are massive.
That said, those with a vision would prefer to hold on to these cryptos since most of these crypto offerings have long-term upsides.
Is Cryptocurrency a Good Investment in 2024 – An Expert Opinion
Everyone on Twitter parade around as an expert these days. Their words should be taken with a grain of salt since their knowledge is limited by their own biases.
Another thing to focus on when listening to experts is the preference of every expert differ – and that clouds how they see a particular asset. Therefore, conducting your own research is a much better and safer option.
Here are some of the comments of proper experts that we found.
Negative comments
The current bearish trend has had many traditional experts go against crypto, and they have this to say.
Warren Buffet, the stock market legend and one of the most respected investors in the world, has told people to “stay away from bitcoin; it is a mirage.” But on the other hand, he also warned people to stay away from Tesla, and we all know how that turned out.
Positive Comments
Tom Lee is the founder of Fundstat Global Advisors and is one of the biggest crypto traders in the industry. He has come out in support of Bitcoin and remains hopeful that one day, Bitcoin will reach a $200k valuation.
If that turns out to be true, the value of all other assets will also go up.
JPMorgan’s CEO Jamie Dimon had an antagonistic attitude towards Bitcoin in 2017. He called it a fraud and compared it to tulip bulbs. However, the bull market of 2023 and the sheer development of Web 3 space has forced him to reconsider.
The CEO now says that Bitcoin has a significant upside.
These are, of course, subjective opinions and should be considered as such. Investors really looking to take a deep dive into the crypto space must do their own research before investing.
Cryptocurrencies that are Worth Investing Today? Top Beginner-Friendly Cryptos
Dogecoin20 (DOGE20)
Amidst the ongoing debate on cryptocurrency’s investment viability in 2024, Dogecoin20 emerges as a strategic option backed by trader predictions. With a presale that has already amassed over $1.3 million, Dogecoin20 proves its appeal to investors seeking potential returns in the crypto market.
Priced attractively at its lowest presale value of $0.000158, Dogecoin20 offers an entry point for savvy traders looking to capitalize on emerging opportunities. Its unique Stake-to-Earn mechanism not only encourages active participation within the ecosystem but also aligns with trader predictions of the growing importance of utility-driven tokens in the market.
Addressing concerns of inflation and dilution, Dogecoin20’s capped token supply of 140 billion tokens positions it as a strategic asset for long-term investment strategies. Trader predictions underscore the importance of sustainability and value preservation, making Dogecoin20 a compelling option for those seeking stability amidst market volatility.
As traders navigate the intricacies of cryptocurrency investing in 2024, Dogecoin20 stands out as a calculated play backed by both its innovative features and trader sentiment. With a clear value proposition and promising growth trajectory, Dogecoin20 holds the potential to be a lucrative investment in the ever-evolving cryptocurrency landscape of 2024.
Smog (SMOG)
In the ever-evolving Solana blockchain landscape, the latest entrant commanding attention is Smog (SMOG), a meme coin that made its debut on February 7 through a stealthy launch. As part of the ongoing trend of new coin listings on Solana, Smog distinguishes itself with a unique approach, forgoing a presale and maintaining an air of mystery surrounding its team. The project’s Twitter presence boldly declares $SMOG’s mission to disrupt the entire #memecoin world.
Breaking into the scene with a surge of over 1300%, Smog quickly claims the #5 spot on the Solana chain’s top crypto gainers list, as reported by DEXTools. Impressively, $SMOG exhibits higher liquidity than its peers, locking in $740k via Team Finance.
With a live market cap of $53 million, an FDV of $28 million, and over 1,000 holders within 24 hours of launch, Smog signalled a promising start. The commitment to community involvement is evident, with 35% of the Smog token supply allocated for airdrop rewards, encouraging engagement through tasks tracked on the Zealy questboard.
Investors can swap their ETH, SOL, or USDT tokens for SMOG tokens on the official Smog website or the Jupiter exchange.
Slothana (SLOTH)
Slothana is a good way to enter into the crypto market because it shows the true essence of the first cryptocurrencies. They had limited utilities, could move up and down on the price charts how people perceived them, and as soon as they peaked, they corrected to give the entire crypto community another buying opportunity.
Such is the price action you can expect from Slothana. This limited utility meme coin on the Slothana blockchain is here to ride the bullish wave created by the current market and Slerf, a Sloth-based meme coin that recently became a top-gaining crypto thanks to its developer removing all the tokens from its liquidity pool.
Slothana’s imagery is that of an office sloth. Tired, high, and dreamy, this sloth is contemplating leaving his 9-to-5 and jumping into the meme coin grind instead. With the possibility of gains. Slothana is attracting a lot of attention in the market. Furthermore, with more and more interest being generated in the meme coin sector, Slothana is a good buy for those who want to get used to the volatility of the space from the very beginning.
eTukTuk (TUK)
For those seeking a high-potential cryptocurrency with tangible real-world utility, eTukTuk is a must-have in any beginner’s portfolio. Despite being a newcomer, it has quickly gained prominence for its innovative approach to fostering a social community among EV owners, particularly within a network of tuktuks aimed at promoting eco-friendly and convenient commuting. Originating from Sri Lanka, the project aspires to expand globally, offering riders access to essential services such as charging station locations through its ecosystem.
At the heart of this endeavor are two key components: the EV tuktuk itself and a network of charging stations strategically positioned to support riders throughout their journeys. Complementing these offerings is a P2E game, allowing players to step into the role of drivers ferrying passengers between destinations. All such interactions within the ecosystem are facilitated by the project’s native token, TUK, currently available in its presale stage at $0.026.
Investors stand to benefit from early acquisition, as each presale stage promises incremental price increases, offering a straightforward path to profit. With its futuristic concept, solid product offering, and immense growth potential, eTukTuk emerges as a compelling investment opportunity worth considering.
Bitcoin Minetrix (BTCMTX)
Cryptocurrency enthusiasts are abuzz with excitement over Bitcoin Minetrix (BTCMTX), a penny crypto with a presale price of just $0.011. Investors are speculating whether BTCMTX can replicate the success of Bitcoin, which reached over $30,000. But what sets BTCMTX apart from the rest?
Bitcoin Minetrix has a visionary mission – to democratize the crypto mining sector. Their innovative approach involves a tokenized cloud mining platform, a groundbreaking concept in the crypto market.
Users can buy and stake BTCMTX tokens to earn non-tradable credits, which can be used for cloud mining time. This transparent alternative to traditional cloud mining services eliminates the need for expensive mining hardware, making Bitcoin mining accessible to all.
With the global crypto mining market projected to reach $7 billion by 2032, Bitcoin Minetrix is strategically positioning itself to tap into this growing industry. You can become a part of the project by participating in the presale on the project’s website. The presale has successfully raised $144,000 at the time of writing.
5th Scape – Token With Intersection of Innovation and Utility
Amidst the evolving landscape of the cryptocurrency market, attention is drawn to projects offering tangible utility and innovative applications. Among these, 5th Scape, an Ethereum-based endeavor, stands out for its focus on creating a comprehensive ecosystem for augmented reality (AR) and virtual reality (VR) experiences.
Central to 5th Scape’s vision is the 5SCAPE token, serving as the primary currency within the platform for accessing games, conducting in-game transactions, and facilitating interactions. With a fixed supply of 5.21 billion tokens, the 5SCAPE token presents an asset with scarcity, potentially leading to significant growth as the project garners adoption.
Several factors contribute to the positive outlook surrounding 5th Scape’s investment potential in 2024. Firstly, the rapidly expanding AR and VR gaming market positions 5th Scape as a pioneering platform in this burgeoning industry. Moreover, the project’s roadmap outlines the development of multiple VR games and proprietary hardware, including an in-house VR headset and AR gaming chair.
Furthermore, the success of 5th Scape’s presale, having raised over $1.2 million, underscores the community’s interest and confidence in the project’s trajectory. With a projected listing price of $0.01, early investors in the 5SCAPE token may anticipate significant returns should the project achieve widespread adoption.
While optimism surrounds cryptocurrency investments in 2024, prudent investors understand the importance of conducting thorough research, assessing risks, and diversifying portfolios. Nevertheless, for those intrigued by cryptocurrencies and emerging technologies like AR and VR, 5th Scape offers a compelling opportunity to explore.
Sponge V2 ($SPONGEV2)
Sponge V2 is bringing Sponge back to the fold with unique attributes, updated tokenomics, and a unique staking model. Furthermore, it is changing the way memecoin is perceived by providing long-term benefits.
Sponge V1, the first version of Sponge, was a hit when it arrived on Uniswap. Climbing by 3200% within the first few days it was live, Sponge V1 reached beyond the $100 million market cap.
Since the memecoin mania went away, Sponge V1’s price dropped. However, with the resurgence of Bitcoin, Sponge V1’s value also increased, bringing attention back to this memecoin.
Sponge V2 is a bigger and better version of Sponge that can only be acquired through stake-to-bridge. Investors necessarily need to bridge their Sponge V1 tokens to Sponge V2 via staking through the official website.
Those who stake for the long-term will also earn high APY rewards. At a minimum, investors can earn at least 40% APY (paid as Sponge V2) on their holdings.
This shows that cryptocurrency is still a good investment. The entire method of buying and staking Sponge V1 tokens is easy. All it takes is a click.
Furthermore, Sponge V2 is also introducing a P2E mechanic that can bolster the value of Sponge’s ecosystem even further.
Bitcoin
Bitcoin still remains a worthy cryptocurrency to invest in 2024. Being the world’s largest cryptocurrency with a market capitalization exceeding $400 billion, this cryptocurrency has a lot of potential – but less so than the above three presale cryptos we have covered.
That said, investors continue to believe that Bitcoin is an undervalued asset. And the current price point makes it an interesting crypto to get behind – especially since it can be bought at a discount price.
Ethereum
Ending our list of worthy cryptocurrency investments is Ethereum. It is the second biggest crypto and the biggest altcoin in the world. While it started out as a way to provide more utility to cryptos but followed the same Proof of Work mechanism as Bitcoin, Ethereum has now fully embraced Proof-of-stake with the merge upgrade.
The Ethereum network supports a large number of crypto assets – many of them are listed in our presale. And at the time of writing, Ethereum is accumulating above $1.5k – which is almost 70% below its all-time high – giving investors a chance to buy it at a discount.
Is Cryptocurrency A Good Investment in 2024 – Our Final Verdict
This guide has now answered the question – “is cryptocurrency a good investment”?
Yes, cryptocurrencies are volatile, and their speculative nature makes them far from being risk-free. However, if you have a good investment plan and you are willing to research the assets thoroughly, the upsides of investing in cryptos are many.
The best cryptos that we are bullish about are now available on presale. They have high upside and have the potential to go 10x when their listing goes live.
Of the various token sales we’ve reviewed the top crypto investment right now is Dogecoin20. It is a leading Dogecoin alternative available as a presale.
FAQs
Is cryptocurrency worth investing in this year?
Cryptocurrency can be a worthy investment to some - especially those with a high-risk tolerance. There is no harm in investing in presales or using a dollar-cost investing strategy. Presales will allow users to make guaranteed gains before the token lists, and dollar-cost averaging will let them make gains in the long term.
Is cryptocurrency a good investment in a long term
Long-term cryptocurrency investments are few. And our two-cents go to Ethereum and Bitcoin. These are foundational crypto assets whose value will grow with the success of other tokens. However, to gain a long-term benefit, investors must be willing to hold these cryptos rather than selling them during bear seasons.
Should I invest in crypto or stocks?
Investors should always diversify their investments - which means that they must invest in both cryptos and stocks. Diversification reduces the risks during bear season and compounds the gains during bull runs.
Can you make money with cryptocurrency?
Yes, investors can make money with cryptocurrency. But that depends on the type of crypto they are choosing to invest in. Also, investors must keep an eye on the price charts if they are serious about investing.
Should I buy cryptocurrency?
Investment decisions are subjective and must be backed by proper research and analysis of both upsides and downsides. That being said, it is advised that invest put a small amount of their investments in crypto to prepare for the bull runs.
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