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3 Cryptos to Turn $100,000 Into $1 Million: January 2024

When it comes to cryptos, expect the unexpected.

Be it Bitcoin or the altcoin space, the crypto asset movement has surprised investors. After an extended crypto winter, the light finally seems to be at the end of the tunnel. As Bitcoin (BTC-USD) trends higher, there is a strong case for another major bull market for cryptocurrencies.

However, keep expectations subdued and look at some quality ideas that can deliver 10x to 15x returns by 2030. The last bull market saw several coins and tokens surging by 10x or 20x within a few months.

I focus on blue-chip ideas from the crypto space rather than purely speculative projects. I would not be nervous about holding these cryptos for the long term.

Let’s discuss three cryptos to buy and hold as a new bull market takes shape.

Bitcoin (BTC)

man in glasses holding a coin that has the Bitcoin (BTC-USD) logoSource: Shutterstock

Bitcoin has surged 77% in the last 12 months, and it’s just the beginning of the new bull market. With the approval of the Bitcoin spot ETF, Cathie Wood believes that the cryptocurrency can touch $1.5 million by 2030. Even if we look at relatively conservative estimates, 10x or 15x returns by 2030 seem likely.

A big factor that’s likely to support Bitcoin’s upside is limited supply. Crypto users will likely swell to one billion by 2030. As demand surges, cryptocurrency will trend higher. It’s also worth noting that Bitcoin halving is due this year and will support positive price action.

There was a time when Bitcoin was considered a better asset than gold in an inflationary environment. With expansionary monetary policies likely this year, there is a strong case for Bitcoin surging as the dollar weakens.

Ethereum (ETH)

Etereum coin is in pocket. Ethereum is a decentralized, open-source blockchain with smart contract functionality. ETH cryptoSource: Thaninee Chuensomchit / Shutterstock.com

Ethereum (ETH-USD) is another blue-chip cryptocurrency with 10x to 15x potential by 2030. In the recent rally, Ethereum has underperformed Bitcoin. I, however, believe that ETH is positioned for a big rally in the coming years.

One reason to be bullish on Ethereum is that the project development is 55% completed after the merge. In comparison, Bitcoin is 80% complete. This leaves room for significant improvement in the network, and impending developments include increasing transaction speed and reducing the cost.

It’s also worth noting that there is an impending case for an Ethereum spot ETF. If that happens in 2024, cryptocurrency will skyrocket. Ethereum will also benefit from the rising adoption of cryptocurrencies globally. New investors prefer exposure to Bitcoin or Ethereum to riskier altcoins.  

KuCoin (KCS)

A concept token for KuCoin (KCS).Source: Shutterstock

At $10, KuCoin (KCS-USD) is another attractive cryptocurrency for multibagger returns. As an overview, KuCoin is among the top 10 centralized cryptocurrency exchanges globally.

In the last bull market, centralized and decentralized crypto exchanges made a killing as trading volumes surged. A similar scenario is likely in the next bull market, and rising crypto adoption will further boost trading volumes. This is likely to benefit KuCoin, among other players in the industry.

An important point to note is that KuCoin offers 600 different exchange pairs. This provides a lot of options from a trading perspective. With the KCS token used to facilitate transactions on the platform, the use case is strong, and the demand for the token is likely to remain high.

KuCoin is also present in more than 200 countries globally and has over 20 million users. With all these positive metrics, I am bullish on KCS surging higher.

On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.

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