As major cryptocurrencies consolidate above earlier session lows, with Bitcoin close to $64,000 and Ether close to $3,150, traders are searching for the best cryptos to buy now by exploring altcoin markets for top gainers. Blue-chip cryptocurrency markets are trading down on the week, with spot Bitcoin ETF demand decelerating, as BlackRock’s IBIT experienced zero inflows for the first time on Wednesday. The latest US GDP report has pushed US yields back to multi-month highs due to higher than expected inflation, increasing the odds of no interest rate cuts before September by over 40%.
Despite major cryptos like Bitcoin and Ether trading flat over 24 hours, analysts suggest a potentially bearish outlook. If Friday’s US Core PCE inflation report exceeds expectations, major cryptos could retest recent lows, with Bitcoin potentially dropping to $50,000. For short-term investors, the best crypto to buy now may not be Bitcoin or Ether but rather the altcoin market, where smaller and lesser-known altcoins can pump regardless of broader market conditions if they have a strong bullish narrative. Some strong performers on Thursday that could be the best cryptos to buy today include Wormhole, Bonk, and Pepe, with the potential for significant gains.
Wormhole, a multi-chain protocol that facilitates the movement of assets and data between blockchains, has seen a price increase of over 20% in 24 hours, reaching $0.66 with a market cap of around $1.2 billion. Bonk, a leading Solana meme coin, continues to march higher, trading close to $0.000029 and challenging its late-March highs. Pepe, another leading meme coin, is up 7% in the past 24 hours and is eyeing a potential return to its recent record highs, offering significant upside potential. These coins provide potential investors with the chance to make significant gains in the current market conditions.
For those looking for near-term gains with high-risk, high-reward potential, an alternative investment strategy to consider is getting involved in crypto presales where investors buy tokens of upstart crypto projects to help fund their development. These tokens are often sold cheaply, and there is a history of presales delivering huge exponential gains to early investors. Projects behind presales often have great teams and visionary goals to deliver unique crypto applications/platforms. The team at Cryptonews.com identifies the best crypto presales of 2024, providing investors with opportunities to participate in potentially lucrative investments.
Overall, the current market conditions for major cryptocurrencies like Bitcoin and Ether indicate a potentially bearish outlook, with factors such as fading ETF demand and continued selling from miners contributing to potential price declines. In contrast, the altcoin market presents opportunities for quick gains, with smaller coins showing strong performance. By exploring options such as Wormhole, Bonk, and Pepe, investors can potentially capitalize on the bullish momentum in the altcoin market and take advantage of the potential for significant gains in the short term. Additionally, participating in crypto presales offers investors a high-risk, high-reward investment strategy to consider for potential exponential returns.
