Major cryptos are consolidating on Tuesday in the wake of Monday’s sharp deleveraging-fueled drop, allowing investors to assess what might be the best crypto to buy now to take advantage of the latest market dip.
Bitcoin (BTC) was last trading sideways at $67,000, only a few percentage points below the multi-month highs it hit in the $69,000s in early Monday trade.
BTC is up an impressive 14% from its October lows, so it’s no surprise the bulls are taking a breather.
However, as the US presidential election appears likely to deliver a crypto-favorable Trump victory and more Fed rate cuts near, the bulls will likely remain in control.
Latest Election Odds (% chance of winning)
Trump • 63.9% chance
Harris • 36.0% chance
Only 14 days until the election. pic.twitter.com/YJW4UE9MuI— Polymarket (@Polymarket) October 22, 2024
BTC dips are likely to attract many buyers, with new all-time highs expected next month.
That suggests Bitcoin might be the best crypto to buy now. However, some experienced crypto traders might prefer to invest in higher-beta altcoins that might outperform Bitcoin in the future.
Here are some strong performers on Tuesday that might be the best crypto to buy now.
Best Crypto to Buy Now – Which Are They?
Solana meme coin Popcat (POPCAT) is the best-performing crypto in the top 100 by market cap in the past 24 hours on Tuesday, per CoinMarketcap.
POPCAT stayed at 11% and traded in the $1.44 area. The meme coin has been in a strong uptrend since its August bottom, around $0.25, and is up nearly 6x versus these levels.
As one of the best-performing meme coins of the past two months, POPCAT could be a strong candidate for the best crypto to buy now, assuming a new meme season is approaching.
Solana DEX Raydium (RAY) is another strong performer, up 8.4% in the past 24 hours to the $2.67 area. It is eyeing a test of its July highs.
Buy RAY could soon fly to fresh yearly highs in the $3.0s.
Per DeFi Llama, its trade value locked has surged back to its highest since early 2022 at over $1.8 billion, while daily volumes are consistently clocking in at around $1.5 billion, roughly their highest on the year so far.
As the Solana ecosystem grows, those looking to gain exposure might consider RAY the best crypto to buy now.
Elsewhere, privacy-focused blockchain protocol Beam (BEAM) is another one of the best-performing cryptos of the day.
Per CoinMarketCap, BEAM was last up around 7% in 24 hours, trading just under $0.019.
BEAM bulls will be hoping that it can soon break above key resistance in the $0.020 area and power 2x higher towards yearly highs near $0.038.
These cryptos might all be good candidates for buying the best crypto now.
However, investors looking to gain exposure to projects with higher upside potential might want to consider options in the crypto presale market.
Presales offer investors the opportunity to get into high-potential projects at their very earliest stage and, potentially, their lowest-ever price.
Projects that go on to gain traction frequently net investors gains in the region of 10-20x.
Here are some of the best crypto presales right now, according to analysts at Cryptonews.com.
17 Best Crypto Presales to Invest In Now
The post Best Crypto to Buy Now October 22 – Popcat, Raydium, Beam appeared first on Cryptonews.
