The author discusses the current state of the market and suggests buying five cryptocurrencies for long-term holding. They caution that while the market has recovered significantly from its bottom, it is still down by significant amounts. The author suggests buying Bitcoin as the number one cryptocurrency because of its potential to increase in value. They also recommend buying Ethereum due to the upcoming merge, making it net deflationary, and potentially able to handle 100,000 transactions per second. The other three cryptocurrencies mentioned are Cardano, Chainlink, and Polkadot. The author advises using caution and doing individual research before investing.
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Introduction
Welcome to Sam’s video about the best cryptocurrencies to buy now. Sam is buying one cryptocurrency right now but has his eye on others. In this video, he shares the top five cryptocurrencies to buy, keeping in mind those who want to buy and hold for the long term.
Blockfy
Before discussing the top five cryptocurrencies to buy, Sam mentions Blockfy as a helpful website to buy cryptocurrencies. A special promotion is currently running, and if you trade over a hundred thousand dollars, you can get a thousand dollars back. With that link, you can sign up for Blockfy to start trading cryptocurrencies.
The Current Market Status
Despite the recent rise in value, the stock market and cryptocurrencies are still down significantly from their peaks. However, long-term investors can consider dollar-cost averaging, offsetting the chances of further drops in the market. Sam suggests that it is a good time to continue buying into the market.
The Number 1 Cryptocurrency: Bitcoin
Bitcoin is the number one cryptocurrency Sam recommends buying now. It is always a good investment option; however, Sam advises investors to be cautious while investing. Currently, Sam is buying bitcoin aggressively. The market needs to break through the $24,000 to $25,000 mark to observe any significant changes in price. Bitcoin’s ability to hold the 200-week moving average ($22,700 to $22,800) and a trend line at approximately $29,000 would be a significant development. Breaking the psychological $28,000-$30,000 mark will send the price jumping further according to Sam.
Bitcoin Future Status
Sam suggests that the market’s unpredictability might not follow the conventional four-year cycle. Things are looking up with numerous significant events on the horizon like bitcoin regulations and more significant firms maybe more interested in investing. Therefore, Sam believes that institutional investors will probably buy bitcoin over the next few years, making it the least risky investment option.
The Number 2 Cryptocurrency: Ethereum
Ethereum is the second-best cryptocurrency to invest in now as it will undergo a merger in September and increase transaction speed. It is planned that after following all these phases, Ethereum will be able to process up to 100,000 transactions per second. This much more efficient process will likely increase Ethereum’s value, making it a wise investment.
Conclusion
Investing in cryptocurrencies requires caution and patience. Sam’s recommendations undoubtedly come from his research and experience. His suggestions are a good start for anyone interested in buying cryptocurrencies and holding for an extended period. Cryptocurrencies such as Bitcoin and Ethereum have a sound, reliable past and have the potential to grow their value in the future.
