Today we will know about four of the best cryptocurrencies to buy now
Now to be clear I am buying one cryptocurrency right now but I have my eye on these other cryptocurrencies and I am writing this post because I realize some people just want to buy and hold for the long term, they want a dollar cost average and they want to keep on buying alts through the bear market.
Now I am being a little bit more cautious I am just putting my money into one cryptocurrency like I said one crypto right now which we’ll know about but I will be adding more to these other altcoins as time goes on and if you don’t mind adding our website on the bookmark I will appreciate that.
Now a lot of people are thinking this might just be a fake-out we’re at twenty-four thousand dollars for bitcoin but the fact is we’re still down a lot, now if we look since the beginning of the year we’re down 14 on the Nasdaq (14.4 percent) that means we’re still up about 26% from the bottom but this is still one of the worst years ever for the stock market through.
This part of the year is down 15 on the Nasdaq is no joke and cryptocurrencies are down a lot too. Bitcoin was at 69000, obviously down over 50 percent now a lot of altcoins are down a lot more than that from their peak, I accidentally ran across this just while getting ready for the post today.
At the beginning of the year, we had extreme fear at 42000 so if you think that the market will start pumping up too quickly, too fast or that you know this is just a pump from the bottom.
Remember people were really fearful at 42k and now some people are worried about investing when it’s down about 40 to 50 percent from there so the fact is if you are looking long term it’s presumably still a good time to be bone cost averaging, of course, we could always fall more from here which is why I do have money on the sidelines but I have to be continuously buying into the market because I don’t want to try to play the waiting game and get in getting out that typically doesn’t end well.
For a lot of investors now we’ve also seen a change in the macro recently with the FED looking like they are going to be a little bit more pacifist moving forward not raising rates as important, that is why we are seeing a bit of a pump this week also we do have a lot of the other enterprises not as important in the request like for example we had so numerous liquidations whether it’s three accounts, whether it was Luna.
Just getting rid of their bitcoin and other cryptocurrencies, it pushed on the request so important so snappily, we had so numerous negatives especially when you suppose about war and other effects like that too.
Recession fears and now we are passed a lot of those a lot of them are getting more. We just had Elon Musk say that force chain issues are getting better and they are seeing that some of their coffers or some of the effects that they need to make are getting cheaper, so a lot of people are thinking.
We’re going to turn macro bullish and we see that with a lot of money flowing into the Nasdaq recently with a lot of money flowing into crypto, so with that in mind the number one crypto that I would buy right now is Bitcoin and of course, I’m not, financial advisor do your research all that I’m still I’m buying stocks I still have cash on the sidelines but I am buying bitcoin pretty aggressively right now and right now we still are down significantly from the high, really we need to break through this twenty twenty-four, twenty-five thousand dollar mark and then I would not be surprised if we jumped up to twenty twenty-seven eight thousand you can see that we’ve had a couple of points where we either bounced off or got rejected around 25-28k, so this is going to be a really important area even back here last summer we fell to about 28.8k.
So if we can break through this so we can continue to hold the 200-week moving average which is right around 22.7k-28k. After we break that psychological 28k to 30k dollar mark, I would not be surprised if we jumped a little bit more.
Now of course a lot of this is going to depend on macro and I don’t necessarily think that we’re going to have the same four-year cycles that we’ve had in the past, I don’t necessarily think that we need a very long bear market because we have so many big things coming hopefully, we have regulation here soon showing that bitcoin is property or uh currency and not a security hopefully that will provide some more clarity and make large institutions more likely to invest hopefully we get rid of that stupid accounting rule where you have to take losses if uh impairment losses if your crypto goes down in price and hopefully hopefully we still have more large investors continuing to buy and we don’t have as many liquidations I think all that would cause people to change their thinking on bitcoin and probably buy before we would typically see the price go up now with that in mind we could still fall further from here I would not be surprised if we fell back down eventually because of some bad news or just because investors are taking profits or just selling off the short-term rally that wouldn’t surprise me if the overall market falls down if the crypto market falls down the stock market is probably falling down as well and vice versa so that is a great crypto I think to buy it’s the hardest asset out there it’s definitely going to move before the rest of the market in my opinion I think btc.D probably will move up at some point and again I think a lot of large institutions will be buying bitcoin.
Here if we think it’s going to go up to 200k then that’s an 8x, if you think it’s going to rival gold’s market cap, it’s much more than that with about a 30x from here so keep that in mind right bitcoin is the largest but still has a great potential to go up from here, so that’s number one on the list number two on the list is Ethereum. We do have the merge coming up it looks like it’s set for September, Vitalik just talked about what’s gonna happen after this merge which is the surge, the verge, the purge, the splurge. It’s crazy all the plans are coming but he does think that they will be able to get up to a hundred thousand transactions per second following all these phases now the big important thing for the merge is the fact that it will make them. Net deflationary so they’ll have lots of Ethereum over time and they’re going to cut down the issuance of new Ethereum a lot. In a bullish market I think the merge will actually be really good for Ethereum and probably pump it up in a bearish market I think it could send it down especially if there are delays or in case people get worried about the big unlock of Ethereum that will come to a decent amount of time after the merge actually takes place but some people will still probably get fearful of that, so in a bullish market I think Ethereum will do well with emerge. Now with that being said I still think there is a good player to hold for the long term, there are many new cryptos that call themselves but we all know there is no such thing. Ethereum is still the second largest crypto so I suggest buying some Ethereum. But remember that I am not buying Ethereum right now I am just holding I am trying to make my life a little bit simpler and I think bitcoin still has so much potential but if we turn around even more or if we see another drop, I might be buying Ethereum. If it looks like we’re going to start pumping again or again if we fall pretty dramatically.
And then the third crypto is Solana, so Solana’s network activity in the amount of monthly active developers is just off the charts you can see it’s outpacing Ethereum for how long it’s been around and the fact is it’s just so easy to use and there are so many people building on it and it’s so cheap if you think of Ethereum it typically is more expensive, I mean right now it’s cheaper than it typically is but when it gets congested and it will get congested because the merger doesn’t help a lot with the number of transactions per second, that has to be worked on later. The fact is Solana can run so many more transactions and while it does go down every once in a while, every single cryptocurrency has benefits and it has flaws too, you know the pros and cons to it so within mind Ethereum is much larger than Solana at the moment with about a 209 billion dollar market cap while Solana is only 14% of Ethereum. I will be adding to Solana as well which is my third largest bag, I believe right now if not my fourth right behind the next cryptocurrency which is a polygon.
Polygon has pumped up a lot from the bottom about 200 percent to be exact but I think polygon is still going to pump in the upcoming future. It helped Ethereum on the layer solutions since Ethereum still has many issues, therefore, I believe Polygon Matic has a bright future ahead. Right in addition to being a layer, two facts are they are still growing and they have roll-ups that they’re working on right now they also have grown so much that the apps running that polygon are 19000 as opposed to just a few months ago and I believe it was 8000. They also are having a ton of monthly transactions about 90 million and people are still using it in this bear market so keep that in mind they also have reinvested themselves a lot having multi funds or multiple funds of 100 million dollars plus to help grow and to help innovate so the fact is I think polygon will still do well, I will be adding to this Solana and Ethereum most likely over the coming weeks or months just depending on how the market goes now.
These are the top 4 cryptocurrencies that I recommend you to grab, choose wisely, and do your research.