7 Altcoins to watch in 2022 like Bitcoin, Crypto Rebound

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Investing in cryptocurrencies can turn rags into riches – or riches into rags. Craig Kirsner, president of a wealth advisory firm, is a longtime investor and bull in crypto. Here are seven altcoins that Kirsner said is bullish as cryptos head to new highs in 2022.

Craig Kirsner is not your typical retirement planner.

The president of Stuart Estate Planning Wealth Advisors in Florida has an affinity for cryptocurrencies — though he can’t recommend them to his clients, mostly in their 70s and 80s. While Kirsner’s clients could, in theory, multiply their money with a bit of luck, they could also see their hard-earned nest egg disappear if the cryptos crash.

“There’s a lot of speculation out there,” Kirsner told Insider in a recent interview. “I mean, frankly, people buy to make money, and there are people who make a lot of money doing this stuff. It’s also speculation, like any high-risk asset, with higher pros and cons.”

Cryptography may be taboo at Kirsner’s work, but that doesn’t stop him from investing in it on his own. The wealth adviser said he keeps 5% of his net worth in cryptocurrencies, even though he knows it could drop to zero.

Despite the risks, Kirsner is proud of the HODL — “holding dear life” — of bitcoin, which he says he has owned “for four or five years,” through every twist and bear market the world’s largest cryptocurrency has recently lived.

Like other bitcoin bulls, Kirsner was confident the token would approach $100,000 in 2021, in part due to concerns about a weaker dollar as the Federal Reserve rapidly printed money. He told Insider in September that he believed bitcoin would hit $90,000 in the last four months of the year, but that prediction never came true. Bitcoin peaked at $68,990 in early November.

Kirsner said his bitcoin price target fell flat due to the Fed’s response to rapidly rising inflation. The US central bank has started to hint that it should raise interest rates sooner than expected. those hitting risky assets like high-flying stocks and cryptos the hardest.

“Crypto more and more follows the ups and downs of the stock market, and the stock market has followed the ups and downs of Federal Reserve policies for years,” Kirsner said.

Kirsner continued, “Just as the market has taken a hit over the past two weeks as it digests news of an unaccommodative Fed and rising interest rates, bitcoin is also reacting, along with all the highly valued assets. Everything took a step back.”

In theory, digital assets like bitcoin should be an inflation hedge — in reality, that doesn’t seem to be the case. Bitcoin is down 36% since October inflation data was released on Nov. 10. But that’s because bitcoin is less of a hedge against inflation and more like a hedge against the U.S. dollar, Kirsner said, adding that the nation was approaching $30 trillion in debt.

“Obviously there’s a growing number of people who are unhappy with what’s going on in politics and everything,” Kirsner said. “So maybe they’re looking for something out of their control.”

Kirsner is confident that investors will increasingly turn to bitcoin as adoption rates climb, driving higher highs for the cryptocurrency. As investing stalwarts like MassMutual enter the crypto market, Kirsner believes it’s only a matter of time before more investors turn to digital coins, said he declared.

Altcoins to watch as crypto grows

The multi-billion dollar question: If crypto really is the future, which tokens will fare best?

Predicting which altcoins — commonly defined as non-bitcoin cryptocurrencies — will be around a decade from now is like guessing in the year 2000 which tech companies would survive the tech bubble. Although it’s impossible to predict with any high degree of certainty, Kirsner is willing to try.

Below are seven altcoins Kirsner said he is bullish on in 2022, along with their symbols, market caps, use cases, and his thesis for each. Kirsner said he has three – ethereum, cardano and litecoin – and may soon create positions in the other four.

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