3 Killer Crypto Picks to Beat the September Market Decline

Cryptocurrency is an asset class that has become entrenched in the minds of many growth investors. During the recent bull market for digital assets, the top tokens rose to levels not previously thought possible. Still, enthusiasm for even killer crypto picks has died down as bearish sentiment swept across the sector and the broader stock market.

Although there has been some upswing in the crypto sector since it peaked in late 2021, the overall trend is decidedly bearish. The Federal Reserve’s efforts to tame inflation through interest rate hikes have hit assets hard, especially higher-risk assets, which arguably includes even the largest and most traded cryptocurrencies.

September seemed to have gotten off to a decent start in the stock and crypto markets, but we saw a sharp reversal today following the latest CPI numbers. With the Fed set to meet next week, it is possible that markets will continue to fall in September.

On the bright side, given that expectations for the crypto sector are low, and may remain low for some time, traders have an opportunity to pick up some killer cryptos at prices not seen since the middle of the last bull cycle. Below are the three I think are worth a look.

Bitcoin (BTC)

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Bitcoin (BTC-USD) is synonymous with the crypto sector. Bitcoin is the first and largest token by market capitalization, and is the clear leader in terms of institutional adoption. The vast majority of crypto-focused ETFs are Bitcoin-related or have Bitcoin in a high proportion of total assets.

This token’s continued use as an alternative to fiat currency remains the key driver for most investors. While Bitcoin certainly hasn’t fared well during the recent bear market, it has held up much better than smaller-cap alternatives recently.

Therefore, in this current environment, Bitcoin appears to be a safer bet than most crypto alternatives. Additionally, traders who bought during previous bear markets have been well rewarded. So, for those looking to start building cryptocurrency positions during this time of weakness, Bitcoin is the first killer crypto to put on your list.

Ethereum (ETH)

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The second largest symbol by market capitalization, Ethereum (ETH-USD), is number two on my list of killer cryptos to buy. This cryptocurrency is driving much of the innovation and real utility in the crypto sector. From non-fungible tokens (NFTs) to smart contract-based decentralized applications to the metaverse, Ethereum is an essential network for software developers.

The Ethereum merger, which will move the network to a proof-of-stake consensus mechanism, is set to take place this week. This event will likely be the biggest single catalyst the crypto market has ever seen. There may certainly be some bumps in the road. However, most investors and experts agree that the merger will be a net positive for the network, laying the groundwork for other upgrades that could improve speed and cost, the latter being the biggest current issue with the high-growth ecosystem.

Ethereum’s price action has mirrored that of Bitcoin. Therefore, investors also have a chance to pick up this killer crypto at a discount and see how far the merger can take it.

Solana (SOL)

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Last but not least we have Solana (SOL USD). When it comes to smart contract-enabled blockchains, Solana remains very high on my list. This network runs on a unique hybrid proof-of-stake and proof-of-history consensus mechanism.

Using this technology, Solana has achieved speed and cost advantages that are difficult to compete with. Many top developers choose Solana over Ethereum, for example because of the end-user experience. With significant growth in the world of DeFi and NFTs, there is much to like about Solana’s future market share potential.

Now, speed and cost are not the only two factors investors should consider. Safety and stability are also important. Various network outages over the past two years have somewhat shaken investor confidence in Solana, causing the token’s price to drop. However, personally, I think this bear market presents a great buying opportunity for investors considering Solana.

As of the publication date, Chris MacDonald holds positions in Ethereum and Solana. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Guidelines for publication.