Crypto Market Eyes Bullish Momentum: Best Cryptos to Buy Now and Top Presales for 2024
Crypto News – As Bitcoin (BTC) edges closer to retesting its 2024 highs with a 3.5% uptick on Monday, reaching the $72,000 mark, crypto enthusiasts are on the lookout for potentially lucrative investment opportunities amidst the anticipated resurgence in the crypto market.
The breakout from a triangle pattern on Monday has prompted some analysts to speculate that Bitcoin might soon surge towards $80,000.
Prior to this bullish breakout, Markus Thielen, the founder of 10x Research, advised clients to buy at $69,000 with a stop loss set at $65,000, targeting a push towards $80,000 in the coming weeks.
Attention is now shifting to the release of US CPI inflation data later in the week. Despite the market’s scaling back on rate-cut bets, Bitcoin has demonstrated resilience recently.
Federal Reserve policymakers have been minimizing the necessity for rate cuts in light of robust US economic data. However, Bitcoin bulls have maintained dominance amidst sustained elevated risk-taking across financial markets. Positive narratives such as continued net positive inflows into spot Bitcoin ETFs and the upcoming halving have further bolstered bullish sentiment.
Bitcoin remains poised to potentially reach $100,000 this year. For novice crypto investors, Bitcoin undoubtedly stands out as a prime candidate for investment.
Nevertheless, if Bitcoin is poised for an upward surge, higher beta altcoins could experience significant gains. For seasoned crypto investors seeking to amplify their returns, altcoins present an avenue for faster growth.
Here are some standout performers from Monday that warrant consideration as top picks for investment:
Top Cryptos to Buy Now
- Neo (NEO):
- Neo (NEO), the cryptocurrency of the burgeoning smart contract blockchain NEO, experienced notable gains on Monday.
- According to CoinMarketCap, it surged by 33% in the past 24 hours to $20.50 per token, elevating its market cap to just under $1.5 billion.
- With the potential for substantial real-world adoption, NEO could conceivably see a fivefold increase in value during this bullish market phase, making it an attractive investment option.
- Dogwifhat (WIF):
- Dogwifhat (WIF), the newfound meme coin favorite on the Solana blockchain, is exhibiting renewed bullish momentum.
- CoinMarketCap reports a 12% increase in the past 24 hours, with trading hovering near $4.20 and a market cap of approximately $4.2 billion.
- Given that Dogwifhat’s market cap remains about seven times lower than that of Dogecoin, significant upside potential is apparent, positioning it as a compelling investment prospect.
- Toncoin (TON):
- Telegram-affiliated cryptocurrency Toncoin (TON) surged to fresh all-time highs on Friday.
- With a 15% increase in the last 24 hours and a market cap slightly exceeding $21 billion, TON’s association with the world-leading private messaging application Telegram positions it as a potential frontrunner in the 2024 bull market.
- Investors stand to potentially reap substantial gains, with the prospect of 3-5x returns as TON’s market cap could ascend even higher.
Crypto Alternatives Worth Considering
While the aforementioned coins offer substantial potential for investors to achieve significant gains, an alternative investment strategy with high-risk, high-reward potential lies in participating in crypto presales.
Crypto presales involve purchasing tokens of emerging crypto projects to aid in their development. These tokens are typically offered at low prices, historically resulting in exponential gains for early investors.
Many of these projects boast exceptional teams and ambitious visions to deliver revolutionary crypto applications/platforms. Identifying such projects can present investors with favorable risk/reward prospects for their presale investments.
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