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Can the Crypto Stock Bull Run Continue Much Longer?

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Over the last few weeks, the prices of major cryptocurrencies have seen another significant rally. While we are used to seeing crypto and the stocks rally massively, a roughly 50% increase in a matter of weeks is still noteworthy.

Because these price increases are so common, though, you may be wondering if the rally can continue. Is this the start of another months-long bull run or a short-term rally that will soon fade?

Can the crypto industry bull run continue?

While some fundamental factors have led to the price increases, there is nothing to say that a volatile sector like crypto can’t sell off again.

With that being said, though, there continue to be exciting innovations made in the cryptocurrency and blockchain industry. This should help give cryptocurrencies and crypto stocks some significant momentum in the long term.

The NFT industry, for example, is expanding rapidly. It’s more than just an industry for speculating on pieces of art or moments in sports. There are some high-potential use-cases in the space and a lot of opportunities for more innovation in the coming years.

Decentralized finance (DeFi) is another area with a tonne of potential and innovation going on, helping to drive mass adoption in the crypto space.

So, as an investor, if you want to gain exposure to this high-potential growth industry, it makes sense to take a long-term position.

There is no telling what crypto stocks or the rest of the industry will do over the next six months. However, if you believe there is long-term potential in the industry as I do, then your best bet is to buy and hold.

This way, you don’t have to worry about the short-term volatility, and you have exposure to some incredible opportunities for growth.

So, if you’re bullish on crypto, the only question now is, which stock is the best for your portfolio?

The top crypto stocks to buy today

Investors interested in buying crypto stocks for the long run have a few choices of investments to consider.

My personal favourite is a company like Galaxy Digital Holdings (TSX:GLXY). Galaxy Digital is an exciting stock offering investors exposure to several growth opportunities in the space.

It has multiple strategic lines of business, including trading, investment banking, and even a venture fund to invest in up-and-coming businesses.

Another line of business it offers is asset management. The company has created funds like CI Galaxy Bitcoin ETF to give investors exposure to cryptocurrencies through an exchange-traded investment vehicle.

These funds have been ultra-popular and are another reason why Galaxy Digital has seen its operations grow so rapidly. These ETFs are also a great option for investors too, though. If you would rather have exposure directly to Bitcoin or even Ether, you can buy these funds for your portfolio.

Lastly, of course, one of the most popular ways investors can gain exposure to cryptocurrency is through mining stocks.

Mining companies are some of the highest growth crypto stocks that you can buy. Naturally, these have been extremely popular, especially in the major bull runs we’ve seen over the last year.

Mining can be highly competitive, though. And these companies have to continuously improve their computing power in order to stay competitive. So, as with any stock that has massive growth potential, these stocks can be highly risky.

Whatever crypto stock you decide to buy, though, if you’re bullish on the industry and you’re committed to your investment for the long run, there are a tonne of opportunities to grow your capital.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Daniel Da Costa owns shares of Galaxy Digital Holdings Ltd. The Motley Fool has no position in any of the stocks mentioned.

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