What are the best cryptocurrencies to buy in this bear market?

The cryptocurrency market is in the midst of a bear market and many highly speculative cryptocurrencies and memecoins may never recover, making investment decisions more important than ever. Let’s look at four of the most reliable cryptocurrencies that are most likely to recover in the next bull market:

1. Bitcoin

Bitcoin is the top choice for bear market buyers and the safest crypto to buy. As the largest and most well-known cryptocurrency, it is also the least volatile and has the best chance of hitting new highs. Bitcoin is the backbone of the entire cryptocurrency industry, making it a solid choice for anyone who believes in the long-term potential of the cryptocurrency market. Additionally, Bitcoin has a lot of institutional interest and could see a significant recovery if a spot ETF is approved in the United States. In each of the previous bear markets, Bitcoin fell to the highs of the previous bull market and then rebounded to new highs in the next bear market. For example, Bitcoin was priced at around $1,000 at the beginning of 2017, $20,000 at the end of the bull market, fell back to $3,000 in the next bear market, and then soared to $60,000 in 2021, and is currently down more than 50% from its all-time high. As long as Bitcoin is correlated with the entire cryptocurrency market, it will be seen as the safest and strongest investment in the industry.

2. Ethereum

Ethereum is by far the cryptocurrency with the highest potential and lowest risk of all cryptocurrencies. The Ethereum blockchain is currently the king of smart contract platforms, with a total on-chain value of over $51 billion, accounting for 59% of the smart contract market share. In addition, Ethereum will begin a merger in a few months, when the blockchain will switch from proof-of-work to proof-of-stake. This will not only reduce the energy consumption of the Ethereum blockchain by 99.97%, but also make ETH a deflationary currency with a yield of 4-6%. This supply contraction, and the ability to earn high yields, should help to soar the price of ETH to unprecedented levels in the next bull run.

3. Polygon (MATIC)

Even with Ethereum's consolidated and deflationary supply, it still has issues with congestion and high fees that will keep it from reaching its full potential. There are solutions that will help scale Ethereum that will be released in the coming years, but users need low fees and high transaction throughput now. To this end, the Polygon platform and its native MATIC token provide a solution.

Polygon is building a complete toolkit for Ethereum that allows for several different unique features, namely improving scalability without sacrificing security. Their technology and roadmap has huge potential and may well become the main scaling solution for Ethereum. Their Polygon sidechain is one of the largest smart contract platforms alongside Ethereum, with plans to release more in the coming years. Polygon and Ethereum are becoming more intertwined and integrated, and betting on Polygon and MATIC is betting on the dominance of the Ethereum ecosystem.

4. Chainlink ( LINK )

One of the undeniable trends in blockchain is the growth of smart contracts and decentralized applications. Smart contracts allow for all kinds of revolutionary creations, such as decentralized exchanges and many other financial instruments. Most of the time, smart contracts refer to data that is not available on the blockchain, such as asset prices, to be more accurate and secure. However, without oracle solutions like Chainlink, it would be impossible to access real-world data. Every time a smart contract on almost every relevant smart contract blockchain fetches data from the real world, it needs to pay for that data with LINK tokens. This means that Chainlink is the closest bet to the popularity of smart contracts in the future. In addition, LINK's staking feature should be launched before the end of this year, which will drive more demand for LINK tokens.

Despite the bear market, there are still some cryptocurrencies and projects with a solid future that may survive and hit new all-time highs. When this happens, investors who buy now will be highly rewarded.