Bittime - The cryptocurrency market has been volatile since Monday (15/04/24) while traders considered the potential for reduced geopolitical risks in the Middle East amid the release of stronger-than-expected US economic data.
This prompted traders to further reduce bets on a short-term interest rate cut from the US Federal Reserve . Crypto investors are turning to the altcoin market as they search for the best crypto to buy now.
Crypto Market Analysis in the Middle of the Middle East Conflict
Bitcoin last traded just above $64,000, down more than 2% on the day, with selling pressure increasing after strong US retail sales data. However, Bitcoin is trading close to 5% up compared to Saturday's lows around $61,000.
The market saw a massive decline over the weekend after Iran launched a direct attack on Israel. Assuming Middle East geopolitics remains out of the headlines, macro will be a big focus this week.
All eyes are on Fed Chair Jerome Powell's statement on Tuesday. Expectations that the Fed will lower interest rates in 2024 have been a major driver for crypto in recent months. However, recent strong US data weakens this narrative.
Major cryptocurrencies like Bitcoin could experience more downward pressure. This is especially true ahead of the BTC halving, which can result in high short-term selling pressure from miners. Investors looking for quick profits should probably look elsewhere for the best crypto to buy now.
Check Today's Crypto Market:
Best Crypto to Buy Ahead of Bitcoin Halving
Core (CORE)
The Layer-1 Core (CORE) blockchain protocol is surging on Monday. The blockchain is secured through a combination of delegated Bitcoin mining hash and delegated Proof-of-Stake (DPoS).
According to CoinMarketCap, the price rose more than 50% in 24 hours. It has pushed its market capitalization to under $2 billion and entered the top 100 cryptocurrencies by market value.
Whether blockchain will experience higher adoption remains to be seen. But at a moderate valuation under $2 billion, there's plenty of room for upside if that happens. CORE could be a great bet for this bull market, and could be the best crypto to buy today.
NEO (NEO)
Neo (NEO) is a cryptocurrency from the rising smart contract blockchain, NEO, performing well last Monday (15/04/23). According to CoinMarketCap, the price rose 13% in the last 24 hours to $20 per token. The rally has lifted its market capitalization to about $1.4 billion.
That leaves NEO still more than 7x below its 2021 peak, over 10x below its early 2018 peak. NEO could easily rise 5x in this bull market, making it a candidate for the best crypto to buy now.
Pendle (PENDLE)
Pendle (PENDLE) is a tokenization and future yield trading protocol, eyeing a retest of its record high on Monday (15/04/23). PENDLE is up nearly 15x from last summer's lows below $0.50. The rally from the 2022 lows is even more impressive at over 200x.
According to CoinMarketCap, which noted PENDLE's 24-hour gain of about 12%, its market capitalization stands at $1.6 billion. That leaves plenty of room for gains of 10x or more as the asset tokenization narrative gains strength.
With Pendle teaming up with Ethena, another fast-growing yield protocol, its TVL could soon soar even further. That potentially makes PENDLE one of the best cryptos to buy today.
BTC/USDT Bitcoin Price Today
Source: Bittime.com
On April 16, 2024, the price of Bitcoin BTC/USDT was at $63,036 per coin, down 3.41% in 24 hours.
Also Read How to Buy Crypto:
Conclusion
The cryptocurrency market may be volatile due to geopolitical uncertainty and mixed US economic data. However, investors focused on strong altcoins may find some interesting opportunities. Core (CORE), Neo (NEO), and Pendle (PENDLE) are all showing good momentum and have significant growth potential.
Check Crypto Prices Today:
How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR . To be able to buy BTC/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Toncoin (TON) Price Prediction: In-Depth Analysis 30% Upside Chance
What Is Ultiverse (Ulti)? Web3 Gaming Revolution with Artificial Intelligence
Crypto Heats Up! Polkadot, BlockDAG, and Toncoin Fight for Market Domination
DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.