Altcoins
Best Crypto to Buy Now April 11 – BitTensor, Helium, NEO
Last updated: April 11, 2024, 6:37 p.m. EDT | 3 minutes of reading
After a slow news day that saw Bitcoin (BTC) trading in a range between $70,000 and $71,000, traders are turning to the altcoin markets as they search for the best crypto to buy now and which could generate quick wins.
Traders continue to monitor themes, including the upcoming Bitcoin halvedthe Fed’s evolving interest rate outlook and Bitcoin ETF flows.
The halving is just nine days away as nerves grow that Bitcoin could experience price turbulence.
Meanwhile, the decrease in GBTC outflows means Spot Bitcoin ETF demand returns like a favorable wind to the market. This helps cushion the price of BTC in the face of a recent reassessment of Fed rate cut bets.
Wednesday hot US CPI datawhich follows strong jobs and activity data a week earlier, suggests it will be too early for the Fed to cut interest rates this summer.
Even if the timetable for US rate cuts is pushed back, the long-term trajectory remains oriented towards easing.
New York Fed President John Williams reiterated its position that rate cuts would make sense later this year.
Globally, other major central banks are also easing their measures. THE The ECB announces rate cuts this summer during its meeting on Thursday.
The macro therefore seems destined to remain a long-term tailwind for Bitcoin and the market as a whole. Indeed, many continue to bet that BTC could reach $100,000 this year.
This suggests that, for investors looking to get involved in crypto, this could be the best crypto to buy today. It is, after all, the oldest, most proven, and most trusted crypto asset on the market.
The 9 Bitcoin ETFs bought around 225,000 #Bitcoin since the launch in January.
The IBIT alone absorbed all the Grayscale sales.
This is a net purchase of approximately 3,600 Bitcoins for each trading day since launch.
In the coming months :
– Hong Kong ETFs will be approved… pic.twitter.com/YodaqK6K1e
– Rajat Soni, CFA (@rajatsonifnance) April 11, 2024
But investors who already have crypto experience and are looking for greater upside potential will look elsewhere.
Many small and lesser known altcoinsalthough significantly riskier than Bitcoin, have much greater upside potential.
Where Bitcoin’s gains, this bull market could be limited to around 2x from here, many altcoins could 5-10x.
Here are some big changes on Thursday that could be the best crypto to buy now.
Best Crypto to Buy Now
BitTensor (TAO)
Decentralized AI protocol Bit tensor ($TAO) hit new all-time highs above $770 per token on Thursday.
The token has since returned to around $625, but still trades with 24-hour gains of around 12%.
This pump follows BitTensor securing a listing on the world’s largest crypto exchange, Binance.
Congratulations @const_reborn and all @opentensor team! You are awesome, as unique as each block itself!#bittenseur #binance https://t.co/9OZppMxu3t
– Tao Ceτi (@ceti_ai) April 11, 2024
Despite its decline from highs, $TAO is still up more than 10 times from its October lows. AI currently remains an important topic in the market.
But its market cap remains low, currently around $4.1 billion, leaving plenty of room for upside. After all, AI companies like Nvidia have valuations approaching $1 trillion.
Helium (HNT)
The DePIN Helium (HNT) project, a network that operates a decentralized global network of wireless hotspot providers and also serves as miners, is booming on Thursday.
According to CoinMarketCapHNT is up about 10% in 24 hours and is trading near $6.10.
HNT’s market capitalization was approximately $980 million. For those who believe in the long-term vision of the project, this assessment remains a good deal.
Bulls are hoping that Thursday’s strong performance will mark the start of a return to 2024 highs around $11.0.
NEO (NEO)
Neo (NEO), the cryptocurrency of the new smart contract blockchain NEO, is booming on Thursday.
According to CoinMarketCapit was the last up 10% in last 24 hours at $21.87 per token. This rally brought its market capitalization to around $1.54 billion.
This is a very modest market capitalization if blockchain is indeed adopted in the real world.
NEO could easily increase this bull market by another 5x, making it a candidate for the best crypto to buy now.
Crypto Alternatives to Consider
All of the coins above offer potential investors an excellent chance of making 10x gains.
But, for those looking for a better probability of short-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
Presales allow investors to purchase tokens from startup crypto projects at early prices. These projects then use these funds to fuel the development of their protocols.
There is a long history of pre-sales generating huge exponential gains for early investors. Many of these projects have fantastic teams and a great vision behind them to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward ratio of their pre-sale investment is very good.
The Cryptonews team spends a lot of time going through pre-sale projects to help investors.
Here is a list of 17 of what the project considers to be the best crypto presales of 2024.
Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.