The crypto sector is charging like a bull this year, but don’t worry if you missed it, you can still try and grab one and go for the ride!

Early this week, bitcoin reached a new high by almost touching $24,000. That was a level not seen since August!

The reason for the strength is due to the combination of decreasing concerns about inflation, rising expectations of a more accommodative policy from the Federal Reserve, and the new belief that the US economy will avoid a major recession.

This has led to greater interest in riskier investments that have the potential for higher returns among Wall Street, and retail investors alike.

In general, investing in cryptocurrencies comes with a high level of risk due to their volatility. However, risk can be both negative and positive; it can result in large losses, but also in big gains.

The collapse of FTX late last year caused prices to drop for most cryptocurrencies and those close to the industry to be left without real answers as to what really happened. Although it was a severe event, and resulted in significant losses for many investors, it’s important to look at the positive side;. Many top crypto projects were made available at steep discounts, and many investors duly took advantage.

Those cheap prices are now gone. Most of the top cryptocurrencies were up by an average of around 40% since then!

But is it too late to get in and profit? It’s not too late though.

While most crypto projects roared back up from their lows last year, some of the top projects are still down 60% to 80%! As I’ve said, there’s no need to worry if you missed the bull, we still have a long way to go!

As an investor, it’s crucial to be able to distinguish between worthwhile projects and those that are less promising. So for this week, I’ll guide you on how to ride the crypto bulls, and not get trampled on the wayside!

First on our List is Ethereum

Ethereum is a global computing network that uses Ether (ETH) as its native token. Ethereum It allows developers to launch and users to interact with decentralized apps (dApps) that run on decentralized servers instead of centralized ones. The Ethereum ecosystem includes over 1,500 unique dApps, covering various sectors such as decentralized finance (DeFi), gaming, and social media.

Investing in Ethereum is similar to investing in an exchange-traded fund (ETF), since you gain exposure to a wide range of projects and services within the Ethereum ecosystem. Its leading position in the programmable blockchain sector, and increasing institutional adoption make Ethereum an essential addition to any well-diversified, and risk-adjusted portfolio.

Favorable macroeconomic conditions and excitement about Ethereum’s upcoming upgrade that will enable withdrawals, could drive further gains. In fact, the development of the “Shanghai” hard fork seems to be progressing smoothly.

A leading Ethereum developer recently announced on Twitter thatTwitter, that they have created a ‘test-net’ to test the upcoming staked ETH withdrawal feature.

Yes, it would have been ideal to buy Ethereum in June 2022 when it reached its low of $800 per token, however, for those who are long-term investors and plan to hold Ethereum until it rises above $10,000, it does not make a significant difference if you buy it at $800 or at current levels in the $1,600s.

Ethereum is still down 65% from it’sits all-time high of $4,800 in late 2021. In the past, buying Ethereum when it’s still 65% below its recent record highs has proven to be a profitable strategy, even if investors missed the bottom.

Buying ETH right now is basically a no-brainer and something you might want to strongly consider.

The Sandbox is Next on our List

The Metaverse is a highly intriguing DeFi application with endless possibilities. It offers the chance to explore new worlds, generate passive income, and even has the potential for educational use.

One of the top Metaverse projects is The Sandbox (SAND).

The Sandbox is a pioneer in the Metaverse and crypto gaming space, and it has gained significant popularity during the Metaverse hype in 2021 and 2022 since it’s one of the main players in the industry. The Sandbox, together with Decentraland, led the crypto Metaver charge back then, and up until now.

However, just like any fad, it soon fell out of favor, just like Facebook’s transformation into META. But to start the year, SAND, along with other top crypto projects, was resurgent, as market sentiments improved significantly.

The bullish case for The Sandbox is that is the leading Metaverse game in terms of player count, boasting over 2 million players.

It offers unique gameplay and income opportunities through a vast world that players can explore and invest in. Players can purchase and own land on NFT marketplaces like OpenSea, and upgrade it to maximize their earning potential.

Some land plots were even selling for over $46,000, showing massive price appreciation! And who would have thought that these ‘imaginary pieces of land’ can cost this much? Crazy!

And looking forward to the rest of 2023, punters are optimistic about the future of SAND, due to its ongoing partnerships and developments. Despite the bearish market in 2022, the token has maintained its position in the market, leading analysts to believe it could experience further growth in 2023, due to the ever-expanding adoption of the Metaverse and crypto gaming.

If you believe in the Metaverse, this is for you.

The Next Crypto to Consider is Polygon

Polygon is a Layer 2 blockchain that operates on top of the Ethereum blockchain. This means that it uses Ethereum as a foundation to build its own infrastructure, creating a symbiotic relationship between the two blockchains.

Ethereum is the one providing security and stability as the base layer, while Polygon offers faster transaction speeds and lower costs. This allows for a more efficient and cost-effective user experience while still utilizing the security and stability of the Ethereum blockchain.

Ethereum may be the largest ecosystem for decentralized applications (dApps) on any blockchain, but it has historically faced scalability issues. Polygon’s Layer 2 solution addresses these issues, by providing faster transaction speeds, and at lower costs, which enables more dApps to support more users.

By allowing thousands of dApps to function more efficiently, Polygon can help Web3 achieve global adoption.

At the same time, Polygon has partnered with several well-known companies in various industries, to develop innovative non-fungible token (NFT) projects. These partners include Disney, Starbucks, Meta Platforms, and Nike. These partnerships have already yielded results, such as Starbucks creating a customer loyalty program based on NFTs that runs on the Polygon blockchain.

As NFTs continue to gain popularity, it is likely that more companies will turn to Polygon to develop their NFT projects, and this trend is expected to continue well into 2023.

With these developments, MATIC could be the best alternative to ETH.

Of Course, Don’t Forget about Bitcoin

Bitcoin is widely considered to be the gold standard in the cryptocurrency industry. As the original, largest, and most widely adopted cryptocurrency, it is a fundamental part of any cryptocurrency portfolio.

Bitcoin is decentralized, meritocratic, and has a large market capitalization, accounting for over 40% of the entire cryptocurrency market.

Bitcoin can be thought of as a digital store of value, similar to gold. It has the same properties of being immutable, durable, scarce, and sovereign. Additionally, Bitcoin has the added advantage of being more portable.

It is decentralized, meaning it is not controlled by a central authority like a government. Bitcoin is a fair, international, and transparent technology that allows for savings across borders and bypasses centralized inefficiencies.

Even if you don’t invest in it, it’s important to keep an eye on Bitcoin’s price. But really, not having it on your portfolio is like macaroni without cheese, it’s a key element that should not be missed!

To Conclude

With so many cryptocurrencies available, it can be challenging to determine which one to invest in. It’s important to remember that following the latest trend, or investing in a token with the highest or lowest price, doesn’t necessarily ensure a profitable return.

The best cryptocurrency to purchase, whether now or at any other time, is one that can complement, and balance out a well-rounded portfolio.

Right now, the current negative sentiment towards cryptocurrency is a sign that the mini-bull market for cryptocurrencies still has lots of room to charge.  And just like in the past, when the markets were in a massive state of euphoria, it marked the beginning of a bear market, like what happened in 2021.

But for now, go grab those bulls by the horns!

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