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Joel Frank
Author
Joel Frank
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It’s looking like another slow day for cryptocurrency markets, with investors taking advantage of the market’s calm to research options for the best crypto to buy now.
In wake of Bitcoin (BTC)’s recovery back to $58,000, bullish price forecasts have been returning.
Standard Chartered recently came out with a prediction that Bitcoin will hit new record highs regardless of who wins the US Presidential election.
Its also notable that one of the biggest Bitcoin whales, software company Microstrategy, continues to gobble up supply.
Per Michael Saylor, the company’s co-founder and executive chairman announced that Microstrategy had recently purchased another 18,300 tokens at $60,408 or $1.11 billion.
That has taken the company’s holdings to a whopping 244,800 BTC, worth roughly $14.2 billion at current market prices.
Bitcoin – Best Crypto to Buy Now?
US presidential election uncertainty, plus the rising risk of a near-term US recession, means that Bitcoin’s short-term outlook remains unclear.
Continued choppiness within recent multi-month ranges is likely.
But in the longer run, growing adoption and a lower interest rate environment are likely to be major bullish catalysts for Bitcoin.
Traders will may get a taste of what’s to come next week when the Fed cuts interest rates for the first time since jacking them up to multi-decade highs in 2022/23.
Bitcoin remains a leading candidate for best crypto to buy now – it is the oldest, most widely known and used, most decentralized and most secure crypto in the world.
But smaller and lesser-known altcoins with a higher beta may be able to outperform BTC in the right environment.
Let’s take a look at some alternative candidates for best crypto to buy now.
Nervos Network (CKB)
Following a 53% price surge in the past 24 hours, per CoinMarketCap, Nervos Network (CKB) is a new entry to the top 100 cryptos by market cap.
The upside comes in wake of CKB being listed on South Korean exchange Upbit.
Last at $0.01367, CKB will be hoping soon to test its record highs in the $0.45 area.
But first, it will need to muster a convincing break to the north of its 50DMA at $0.0148.
Polygon (POL)
Ethereum layer-2 scaling network Polygon’s new native token (POL) is one of the top crypto performers today in wake of a 15% gain in the past 24 hours, per CoinMarketCap.
Earlier this month, after years of discussions, Polygon’s old token MATIC migrated to POL.
Whether that will help spur the network’s adoption and lift the POL price remains to be seen.
But Polygon has long been one of the most promising Ethereum layer-2 projects and could be the best crypto to buy now.
Quant (QNT)
Blockchain connectivity project Quant (QNT) is another one of the best performers today, rising 6% in 24 hours to around $77 per CoinMarketCap.
QNT has been picking up momentum in recent days since breaking convincingly back to the north of its 50DMA for the first time since March.
Bulls will be hoping QNT can quickly retest the $85 resistance area and test the 200DMA just above $90.
All of these altcoins could be the best crypto to buy now, given then could 5-10x this bull market.
That said, some crypto traders with a higher risk tolerance are hunting for bigger gains.
One proven strategy to book big profits is crypto presale investing.
Crypto projects often fund development via early bird token presales, which offer investors the chance to get in at a low valuation.
If investors can identify high-potential projects, there will be big gains.
Of course, presale investing is risky and investors must do their own research and not risk more than they can afford to lose.
Here are some of the best presales out there right now, per Cryptonews.com.
17 Best Crypto Presales to Invest In Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
