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Jacob Crypto Bury’s Top 5 Picks for Long-Term Cryptocurrency Investment

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Jacob Crypto Bury's Top 5 Picks for Long-Term Cryptocurrency Investment
Jacob Crypto Bury's Top 5 Picks for Long-Term Cryptocurrency Investment

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Popular YouTube and Discord analyst Jacob Crypto Bury reviewed five high-potential picks for the top cryptocurrencies for long-term holding.

This year has brought considerable positivity to the cryptocurrency market, marked by a 123% increase in Bitcoin since January. Analysts anticipate this positive trend to persist into 2024.

The potential approval of spot Bitcoin ETFs and the upcoming Bitcoin halving in May 2024 further bolster the prospect of a resurgent bull market.

This article has highlighted the top 5 cryptocurrencies recommended for long-term holding and the insights into why these particular cryptos stand out.

Bitcoin (BTC)

At the time of writing, the price of Bitcoin is $37,830, with a 24-hour trading volume of $16.8 billion and a market cap of $738 billion, holding a 50% market share. There’s anticipation for a recovery rally, contingent on $BTC’s price maintaining momentum above $38,575, aiming for a bullish surge to $40,085.

However, failure could lead to a drop below the support line at $36,793, potentially initiating a bearish trend to $36,855. The upcoming Bitcoin halving in late April 2024, occurring every four years, historically precedes bull runs by halving mining rewards.

Standard Chartered, a major British multinational bank, predicts a $100,000 Bitcoin value by 2024, citing a perceived “crypto spring” and the potential early introduction of U.S. spot ETFs, which could boost investment and interest before the halving event. Visit our guide if you’re interested in how Bitcoin works and the best secure platforms for purchasing Bitcoin.

Sei (SEI)

Sei Labs has unveiled plans for its Sei V2 upgrade, set to incorporate Ethereum Virtual Machine (EVM) support. This move enables a seamless integration of Ethereum-based contracts onto the Sei network, advancing blockchain interoperability.

Utilizing Geth, the primary Go implementation of EVM, Sei V2 departs from its current CosmWasm-based smart contract framework. The upgrade introduces SeiDB, a refined data structure to optimize storage and prevent state bloat, boosting the Sei blockchain’s performance.

The Sei V2 upgrade is in the final stages of code development, undergoing security audits. The public testnet is scheduled for the first quarter of 2024, with mainnet deployment anticipated in the first half, showcasing Sei Labs’ commitment to advancing blockchain technology.

At the time of writing, $SEI trading at $0.22 with a 24-hour trading volume of $778.23 million and market cap of $494.84 million. Based on the technical indicators, the present market sentiment leans towards a bullish outlook, and the Fear & Greed Index registers at 74, indicating a state of Greed.

Chainlink (LINK)

Chainlink has observed a staggering surge in whale transactions, totaling an impressive $520.44 million worth of $LINK moved in a single day. This surge positively influenced $LINK’s value, climbing 28% in the past month from $11 on October 29 to $14.50 on November 30.

This rise reinforces investor confidence, especially with Chainlink trading above its 100 and 200-day EMAs, leading to bullish price predictions of a potential surge to $17.72 before 2023 ends. Simultaneously, Chainlink made significant strides with the introduction of Staking v0.2, unveiling a 45 million $LINK pool.

LINK Crypto 7 Days Price Graph

This initiative offers 40,875,000 $LINK to community members, marking a new phase for $LINK stakers within the Chainlink network. The surge in whale transactions, positive market response, and the introduction of the new staking era collectively indicate evolving dynamics within the Chainlink ecosystem.

For a comprehensive analysis of the top five long-term cryptos, watch the video above. To stay updated on crypto-related content, subscribe to Jacob Crypto Bury’s YouTube channel. Additionally, Jacob manages a Discord channel with 17,000 members, providing users with trading tips and insights into upcoming crypto presales.

Ethereum (ETH)

While Bitcoin’s price shows signs of recovery, Ethereum’s price struggles to break free from the current resistance. Repeated attempts to reclaim the resistance have failed, and the token seems poised for a retest of the lower support level.

The chance of a pullback below $2000 looms, and weakness from the bulls may trigger a significant drop toward the support below $1800. However, Ethereum’s history of consolidation below $2200 suggests that a rebound remains more likely. Consequently, many analysts anticipate a potential $ETH price surge to $3000 in the coming months.

Sui (SUI)

Sui reimagines the blockchain landscape with its Layer 1 architecture, enabling seamless and secure digital asset ownership. Its object-centric model, powered by Move programming, achieves near-instantaneous finality and supports a diverse range of on-chain assets.

Sui’s scalable architecture empowers developers to build exceptional user-friendly experiences, resolving the limitations of first-generation blockchains. Currently, Sui crypto trades at $0.60 with a market capitalization of $586.76 million and a 24-hour trading volume of $392.88 million.

It has experienced a significant drop of 54.92%, according to CoinMarketCap. The recent price movement suggests that $SUI has formed a bullish falling wedge pattern, indicating potential for further upward movement.

Technical analysis suggests that $SUI could experience a significant uptrend rally, potentially breaking through resistance levels and reaching new highs. If buyers maintain their momentum, $SUI’s price could surge from its current level, with a potential target of $0.70.

However, if $SUI fails to hold its ground and falls below the $0.59 resistance level, it may experience further decline.

Conclusion

Despite market volatility and uncertainty, breakout opportunities abound. With the anticipation of the next bullish cycle in 2024, crypto enthusiasts are diversifying their portfolios, aiming for higher returns in the coming year.

Investors also view crypto presales as high-potential investments, anticipating significant returns upon the official launch of these cryptocurrencies. However, these early-stage investments carry an inherent degree of risk, as the future success of these cryptocurrencies remains uncertain.

Conversely, identifying and investing in promising crypto presales can yield substantial rewards once the coins are listed on exchanges and achieve their objectives. Those contemplating investment in new cryptos can visit our guide to the top crypto presales to invest in.

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