Altcoins
Best Crypto to Buy Now April 16 – Celestia, Pepe, Fantom
Last updated: April 16, 2024 at 5:12 p.m. EDT | 3 minutes of reading
While cryptocurrency markets are in a sea of red on Tuesday, the market continues to be on shaky ground due to concerns over geopolitical tensions in the Middle East and the decreasing likelihood of interest rate cuts from the Fed short term. Investors are therefore turning to smaller, lesser-known altcoins as they search for the best. crypto to buy today.
Bitcoin (BTC) was around $63,000, probing its multi-month low today. Ether (ETH), meanwhile, was holding just north of $3,000.
Both are down sharply from March highs, although the losses are modest compared to the retracements seen by many altcoins.
While Bitcoin is down 11% in 30 days, Solana (GROUND), XRP (XRP) and Dogecoin (DOGE) are each down 20%. And many smaller altcoins are down even steeper by 40-50%.
Risks remain tilted to the downside for the main cryptocurrencies in the coming weeks. The halving could well be a “news sell” event for Bitcoin. And an overperforming U.S. economy means that Fed rate cuts could continue to be postponed.
Massively unpopular opinion: the next one #Bitcoin the halving has the potential to be a news-selling event.
Maybe not directly, but I doubt it will have the bullish impact that traders are experiencing.
It’s a very well-known event that you can literally mark on your calendar. There is a countdown… pic.twitter.com/Zbk6GY0WWx
– Justin Bennett (@JustinBennettFX) April 16, 2024
On Tuesday, Fed Chairman Jerome Powell noted that recent data shows little further progress on inflation. Of course, progress on inflation is a key requirement that the Fed wants to see before cutting interest rates.
POWELL: IF HIGHER INFLATION PERSISTS, THE FED CAN MAINTAIN THE CURRENT RATE AS LONG AS NECESSARY
– *Walter Bloomberg (@DeItaone) April 16, 2024
In this unpredictable environment, crypto investors will need to be selective when choosing the best crypto to buy now. Here are some performers on Tuesday who are contenders.
Best Crypto to Buy Now
Celestia (TIA)
Celestia (TIA) is trying to break out of a downtrend that has continued since February.
Last transaction at just under $11 per token, TIA is up 15% in the last 24 hours according to CoinMarketCap. TIA is up an even more impressive 44% from last week’s low near $7.50.
If the crypto manages to move back north of the $11.50 resistance, its narrative could turn bullish.
If TIA manages to regain its yearly high of around $21, that could mean a nearly 2x rise from current levels.
TIA might be the best crypto to buy now for those looking to take advantage of the recent market decline.
Grandpa (Grandpa)
Another coin attempting to make a comeback on Tuesday is Pepe (PEPE). The legendary meme coin last rose 7% in 24 hours, according to CoinMarketCap.
Pepe’s technical outlook took a turn for the worse recently, however, when the meme coin broke south of a pennant structure.
After rebounding strongly to its 2023 record highs of around $0.0000045, Pepe’s selloff may be over.
A break above the downtrend from the 2024 highs and 21/50 DMAs would open the door for more upside.
Pepe could also post some pretty quick 2x wins from here. Therefore, this could easily be the best crypto to buy now.
Ghost (FTM)
Fantom (FTM) bulls attempt to regain control Tuesday as the broader market struggles.
According to CoinMarketCap, FTM was last up around 6.5% in 24 hours and came back to around $0.67.
The token is eyeing a rebound to $1.0, but first it must overcome resistance around $0.77.
A break above could open the door to a continued recovery towards 2024 highs around $1.20.
With FTM’s potential to generate 2x short-term net gains for investors, it ranks among the best cryptos to buy right now.
Alternative Crypto Investing Strategy to Consider – Presales
Investing in smaller, lesser-known altcoins is a great way to make a quick crypto profit.
However, investors looking to increase their risk profile should not overlook another highly profitable strategy: investing in crypto ICO news.
Future web3 Startups often seek to raise early-stage funds by selling their native protocol token.
These sales are almost always made at a significant discount compared to the potential of the project. For example, most presales will sell their token at a price that gives them a market cap of $10-30 million.
If a good project gains traction, it can easily reach a market capitalization of hundreds of millions. As a result, pre-sale investors can often realize up to 10x gains.
Of course, investing in new crypto ICOs carries many of the same risks as traditional startup investing. The success of a project depends largely on the competence of management and execution.
With so many new crypto ICOs to choose from, getting started can be a daunting task.
Fortunately, the experienced Cryptonews team has already done a lot of digging. Here are 18 of their favorite projects:
You can also watch this video from Cryptonews’ Crypto Arjay, who reviews his top three presales.
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.