The recent US labor market report shows that the traditional financial markets and major cryptocurrencies are pricing in rising recession risk. Bitcoin dropped over 5% to its lowest level since early August, while other major cryptos like Ethereum, Solana, and BNB lost 2-5% in the last 24 hours. This comes as Wall Street faces steep weekly losses and US bond yields decline, signaling a rising risk of recession. Despite some analysts disputing the notion of an impending recession, all financial market indicators point in that direction.
Investors are now looking for the best crypto to buy to shield themselves from potential losses as the economy faces uncertainties. Some altcoins like Sui, Helium, and Dogs have shown resilience and traded in the green in the past 24 hours. Sui is holding above its 50DMA and might push higher if it stabilizes in the market. Helium is moving towards retesting its yearly highs due to increased social media buzz surrounding its network. Dogs, a play-to-earn meme coin, is attempting to rebound after falling substantially from its post-Binance listing highs.
While these coins may be considered as the best crypto to buy now, some investors may be looking for higher returns. One alternative investment strategy to consider is presale investing in new web3 projects that sell native tokens at a discount to early investors. This strategy is risky, but if investors can identify high-potential projects, they can potentially earn significant gains. Analysts at Cryptonews.com monitor the presale market closely and provide insights into some of the top picks for investors.
Overall, the current market conditions are pointing towards a potential recession, causing investors to seek shelter in cryptocurrencies and alternative investment strategies like presale investing. While traditional financial markets are experiencing losses, some altcoins like Sui, Helium, and Dogs have shown resilience and are potentially the best cryptos to buy now. Presale investing offers the opportunity for higher returns for investors who can identify promising projects. It’s important to note that investing in crypto is high-risk and investors could potentially lose all of their capital. It’s crucial for investors to conduct thorough research and make informed decisions before investing in any assets.
