3 crushed cryptos to buy before recovering

With the cryptocurrency crash, investor confidence in the asset class also appears to have plunged. The same investors who bet big on Bitcoin (BTC-USD) at all-time highs wary of buying Bitcoin at $23,000. However, I would look at fundamentally strong cryptos to buy in the current bear market.

The first reason is exposure to new technology. An interesting column argues that crypto is follow the internet adoption curve. There will be obstacles along the way. However, with wider adoption of blockchain technology, crypto will survive.

Regulatory headwinds have also impacted the outlook for cryptocurrencies. However, Kevin Werbach, a professor at the Wharton School at the University of Pennsylvania, has the following opinion: “On one level, however, this resembles the debate we had over 20 years ago about Internet. The The Internet is also global, it is also decentralized.”

Werbach believes that as the internet is gradually regulated, cryptos will be regulated in the coming years.

Amid these optimistic views, I must add that 70% to 80% of crypto projects are unlikely to survive in the next few years. It is therefore important to be very selective in creating a list of cryptos to buy. Here are three cryptos that are likely to reverse after the bear market and create long-term value.

Bitcoin (USD-BTC)

Bitcoin (BTC-USD) is the first name among cryptos to buy for optimistic long-term investors. The cryptocurrency is currently trading 65% below all-time highs from November 2021. Bitcoin is unlikely to rise anytime soon. However, it looks like the fix is ​​largely complete.

In June 2022, a Blockware report stated that Bitcoin adoption could reach 10% by 2030. If true, Bitcoin will remain in a long-term uptrend.

It should also be noted that around 100 central banks are already exploring the digital currency idea. Blockchain technology is therefore positioned to gain traction. At most, Bitcoin and other cryptocurrencies are likely to be subject to regulations.

Tight monetary policy is another reason for Bitcoin’s sharp correction. With fears of a global recession, a pause in rate hikes or expansionary monetary policies could be considered. With easy money in the financial system, there is reason to renew the allocation of funds to cryptocurrencies.

Nervous Network (CKB-USD)

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Another project worth considering is Nerve network (CKB-USD). I believe CKB is positioned for multiple returns over the next few years.

Nervos experienced a period of rather slow ecosystem growth following the launch of the mainnet in 2019. However, the PoW-based multi-layered network and smart contract platform now stands on the precipice of a Cambrian explosion.

Nervos recently underwent his first successful hard fork and released its own EVM-enabled Layer 2. The project has also partnered with BuildClub – a web 3.0 project incubator and builder hub. Axon, a high-performance sidechain designed for Game-Fi projects, is set to launch later this year.

With Ethereum support, tron (TRX-USD) and Polygon, users can access their domain from any wallet they choose. In particular, the development studio Storm Laboratories builds the first secure and autonomous DeFi protocol on Nervos. In addition, tools are created to help others exploit the unique power and interoperability of the Nervos Network.

Overall, Nervos seems like a hidden gem among cryptos to buy. With sustained developments on the back-end, the rise of CKB might just be a matter of time.

Polygon (MATIC-USD)

In terms of price changes, Polygon (MATIC-USD) has already jumped from July 2022 lows of 54 cents. MATIC is currently trading 70% higher than those lows at 92 cents. I believe the rally is likely to continue.

In summary, Polygon can be considered a good replacement for Ethereum (ETH-USD). In particular, it offers a greater number of transactions at a lower cost.

In fact, Polygon recently drawn from technologies without knowledge, a cryptographic breakthrough. This will further provide the project with a scalability advantage over Ethereum.

Note that in February 2022, Polygon raised $450 million from investors such as Sequoia Capital India and SoftBank Vision Fund 2. The large funding round underscores the idea that the project is attractive in the long term.

These funds will be used to create scalable solutions that include Polygon PoS, Polygon Edge, and Polygon Avail. With the best part of Web 3.0 growth yet to come, Polygon has great prospects.

As of the date of publication, Faisal Humayun does not hold (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.