The Crypto market has slowed dramatically in the last week, and as a result, digital assets in the industry have suffered. While such times might be depressing for investors, they also give a once-in-a-lifetime opportunity to enter the market at low and favorable prices before the next leg-up. As a result, these are the best 5 cryptocurrencies to buy ahead of the next bull market.
BTC (Bitcoin)
When it comes to cryptocurrencies to accumulate in anticipation of a bull rally, Bitcoin (BTC) is a no-brainer. This is because the asset is frequently the one fueling the rest of the market’s rallies. As a result, Bitcoin is almost surely going to move ahead of the rest of the market.
Furthermore, it is the market’s largest cryptocurrency. It is the safest option because it is the most trustworthy of all digital assets, especially for people who do not want to take on too much risk with altcoins. Bitcoin has often demonstrated its ability to recover, and this time is no exception.
ETH (Ethereum)
Ethereum has earned its respect as the second-largest cryptocurrency in the space and the leading altcoin. This is an altcoin that has outperformed Bitcoin year over year and has fueled the decentralized finance (DeFi) and non-fungible token (NFT) markets.
As long as Bitcoin moves, Ethereum will almost certainly move as well. This strong relationship with BTC movement means that when the rally begins, ETH will be right behind Bitcoin in terms of gains.
LTC (Litecoin)
Litecoin can fly under the radar at times, but the coin has proven to be a good option throughout the years. It works in a similar way to Bitcoin but is much cheaper and faster than the pioneer cryptocurrency.
However, one factor that makes Litecoin a decent buy right now is that its halving is approaching. The LTC halving, like the BTC halving, is incredibly positive for the cryptocurrency. It is a catalyst that could potentially propel the price of the digital asset above $120 very quickly, and it is expected to take place in early August.
Dogecoin (DOGE) is included on this list due of Elon Musk’s fondness for the meme coin. Many people regard this coin as having little utility. However, the crypto market has repeatedly demonstrated that, for the vast majority of investors, it is less about utility and more about the potential for profit.
DOGE has performed better than many of its larger equivalents due to Musk’s support for moving the price at different prices, and this time is no exception. Investors may expect additional gains for Elon Musk’s professed favorite cryptocurrency, as well as much stronger action when the bull market begins.
BNB (BNB)
Binance’s native cryptocurrency has been one of the market’s most consistent performers. It increased from two digits at the start of the previous bull run to over $700 at its high. Expectations for the upcoming bull market remain unchanged, with BNB expected to break above $1,000 this time.
Binance’s quarterly token burns also work in its advantage, as the crypto exchange removes tokens from circulation every three months, increasing the coin’s value. This makes it a solid stock to own ahead of the next bull run.
The crypto market is currently trading sideways, with no indication of an upward or downward movement. However, as the next Bitcoin halving approaches in 2024, speculation about the market reaching new all-time highs is common. Despite this, due to the volatile nature of cryptocurrencies, it is still critical to invest properly and practice adequate risk management. The chance of profit is not removed in this manner, but the possibility of loss is properly managed.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.