Crypto investors seek the best crypto to buy today as Bitcoin (BTC) rises 2.5% in the past 24 hours to hover above $66,000 and other major cryptocurrencies rise and are searching for the altcoin market.
Traditional asset markets steadied on Monday as traders awaited Friday's release of key U.S. inflation data. The SPX has rebounded above 5,000, the DXY is flat at around 106, and the 10-year Treasury yield is flat at 4.6%.
A stable macro environment has allowed Bitcoin and major altcoins to maintain strong momentum even after the halving.
Assuming macroeconomics does not again pose a major short-term headwind to the market, Bitcoin could recover to recent highs soon.
This could mean an increase of more than 10% in the short term for the world's largest cryptocurrency.
After the halving, miner selling pressure may be higher than usual as miners adjust to lower revenues. Some believe this could prevent BTC from making new highs in the coming months.
However, over the long term, the combination of lower Bitcoin inflation and continued demand for spot Bitcoin ETFs provides a bullish outlook.
Only 450 #bitcoin mined daily.
In 64 of the past 70 trading days, BlackRock alone has captured more than 450 BTC.
Use that information to do what you need to do.
— Julian Fahrer (@Julian__Fahrer) April 22, 2024
Add to this the fact that the Fed is likely to start cutting interest rates by the end of 2024.
Therein lies the recipe for BTC to reach $100,000 in 2024. For investors new to cryptocurrencies, Bitcoin is definitely the best cryptocurrency to buy right now. And it's not just because of its positive outlook.
It is also the oldest, most trusted, most famous, most widely adopted, and most understood cryptocurrency on the market.
But investors looking to secure rapid exponential profits should find smaller, lesser-known altcoin gems.
Here are some altcoins that have strong momentum on Monday and may be the best cryptos to buy right now.
Best cryptocurrencies to buy now
Pepe (Pepe)
Pepe (PEPE) is up quite strongly on Monday. According to CoinMarketCap, the legendary meme coin rose 15% in 24 hours.
Pepe's technical outlook could improve if the price breaks out of the downtrend and confirms a bullish breakout.
Pepe has already rebounded nearly 70% from its lows at the beginning of the month and could soon recover to recent highs near $0.000011.
This could mean a quick 60% increase for PEPE. Therefore, it could be the best cryptocurrency to buy right now.
NEAR Protocol (NEAR)
NEAR, the native token of Ethereum rival NEAR protocol, rose about 14% in the past 24 hours on Monday.
Last priced at $7, the cryptocurrency has rapidly tripled and is aiming to return to its all-time high near $22.
#near protocol $NEAR turned over #polygon $MATIC 👀 pic.twitter.com/F7aFGXJ6WX
— Ajay Kashyap (@EverythingAjay) April 22, 2024
The market capitalization is only about $7.5 billion, so 3-5x is not impossible. That's why it ranks as potentially the best cryptocurrency to buy right now.
PENDLE
Future yield tokenization and trading protocol PENDLE is aiming to retest its all-time high on Monday.
The Pen dollar is up nearly 15 times since last summer's lows of less than $0.50. The increase from the 2022 low is over 200x, which is even more impressive.
According to CoinMarketCap, PENDLE is up about 13% in 24 hours and has a market capitalization of nearly $1.6 billion.
This leaves plenty of room for more than 10x returns as the story of asset tokenization spreads.
With Pendle partnering with Ethena, another soaring yield protocol, its TVL could soon jump even higher.
We're excited to release two new updates $ENA
Users can now deposit $ENA into the @pendle_fi Receive 30x rewards per day up to your first $100 million limit
moreover, $ENA The lock is currently nearly full at $200 million, and the cap on this pool has been increased to $300 million with immediate effect pic.twitter.com/UDbvmfEGmU
— Ethena Labs (@ethena_labs) April 15, 2024
This could make PENDLE one of the best cryptocurrencies you can buy right now.
Alternative Crypto Investment Strategies to Consider – Presales
Investing in smaller, lesser-known altcoins is a great way to make quick profits in cryptocurrencies.
However, investors who want to increase their risk profile should not ignore another highly profitable strategy: investing in new cryptocurrency ICOs.
Emerging Web3 startups often seek to raise funds by selling native protocol tokens in their early stages.
These sales are almost always at a significant discount to the potential of the project. For example, most presales sell tokens at prices that bring the market capitalization between $10 million and $30 million.
If a good project gains traction, its market capitalization can easily reach hundreds of millions of dollars. As such, presale investors can often earn returns of 10x or more.
Of course, investing in a new cryptocurrency ICO comes with many of the same risks as traditional startup investing. The success of a project depends largely on its management and execution capabilities.
With so many new crypto ICOs to choose from, getting started can be a daunting task.
Fortunately, CryptoNews' experienced team has already done a lot of research. Here are 18 of their favorite projects.
See 18 cryptocurrencies
Or watch this video from Cryptonews' Crypto Arjay highlighting the top three pre-sales.
Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You could lose all your capital.
