As Bitcoin (BTC) stages a rebound from the earlier session’s multi-week lows in the $62,000s, investors are hunting for the best crypto to buy today to take advantage of the market’s most recent dip.
Having dropped as low as $62,200, Bitcoin was last trading just above $65,000. That leaves it still about 12% down versus last week’s record highs near $74,000.
For bulls who believe Bitcoin remains in a bull market, the current price drop could present an attractive buying opportunity.
While the Fed meeting on could pressure crypto prices further if the central bank’s rhetoric forces markets to further pull back on interest rate cut expectations, Bitcoin has a lot of positive fundamental catalysts working in its favor right now.
Yes, spot Bitcoin ETF flows were net negative on Monday thanks to huge GBTC outflows.
UPDATE (3/18)
Bitcoin ETF Net Out Flows -2.3K #BTC
New 9 ETFs + 7.3K BTC
Total Bitcoin Held in ETFs 833.8K BTCHighlights
Blackrock + 6.7K #BTC
GBTC -9.6K #BTCFollow our ETF tracker for live updates pic.twitter.com/BmHx4rdGwd
— Thomas | heyapollo.com (@thomas_fahrer) March 19, 2024
But that is likely to be a one-off, or at least uncommon occurrence as Wall Street continues to scramble for BTC exposure.
Meanwhile, the halving in April is set to cut in half Bitcoin’s inflation rate, reducing miner sell pressure.
Halving events have historically preceded big run-ups in the Bitcoin price to fresh record highs.
For the first time in its history, Bitcoin hit fresh all-time/cycle highs ahead of the halving, thanks to ETF flows.
So perhaps the latest pullback shouldn’t be a surprise. But it does suggest that the next run higher could be an explosive one.
All said, it remains very likely that Bitcoin will hit $100,000 in 2024. For investors new to crypto, Bitcoin is a clear candidate for best crypto to buy today.
But for investors that have already got a start in crypto and already built a BTC position, they might want to check out altcoins.
Smaller and lesser-known altcoins are riskier than Bitcoin given they experience greater volatility.
But they also offer better growth prospects, thanks to their much lower market capitalizations.
Here are some of Tuesday’s biggest altcoin movers that could be the best crypto to buy today.
Best Crypto to Buy Today
Fantom (FTM)
Previously seen as a major competitor to Ethereum and darling amongst crypto investors, Fantom (FTM) is attempting a comeback.
FTM was last up around 10% in the past 24 hours, as per CoinMarketCap.
Last at $0.93, FTM is up a healthy near 440% from its October 2023 lows.
And given its market cap of still under $3 billion, Fantom has a lot of upside potential.
Investors could easily be looking at 10x gains with FTM, making it amongst the best crypto to buy today.
Celestia (TIA)
Modular blockchain token Celestia (TIA) is pumping on Tuesday, having bounced up 25% from intra-day lows.
In the past 24 hours, TIA is up 11% as per CoinMarketCap, its price last at around $14.55.
That gives it a market cap of around $2.5 billion.
The token, which launched last October, caught the attention of crypto speculators thanks to its exciting airdrop.
With TIA down over 30% from its 2024 highs, this could be a good time to buy the dip.
TIA could well be the best crypto to buy today.
Stacks (STX)
As Bitcoin attempts to rebound from two-week lows, one of its most promising layer-2 networks Stacks (STX) is pumping.
As per CoinMarketCap, STX was last up 9.5% in 24 hours.
STX was last trading around $2.85 and eyeing a rebound to recent highs in the $3.40 area.
With a market cap of only just over $4 billion, as the leading Bitcoin layer-2 protocol, Stacks potentially has a lot of room for valuation growth.
That could make STX one of the best crypto to buy today.
Crypto Alternatives to Consider
All of the above coins offer potential investors a chance to make 10x gains.
But, for those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of startup crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a unique crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023:
See the 15 Cryptocurrencies
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