Altcoins
Best Crypto to Buy Now April 8 – Neo, Dogwifhat, Toncoin
Last updated: April 8, 2024, 1:01 p.m. EDT | 3 minutes of reading
As Bitcoin (BTC) looks to retest its 2024 highs after rising 3.5% on Monday to return to the $72,000 zone, crypto investors expect the crypto market to be on the about to warm up again and are looking for the best crypto to buy now.
A triangle-shaped breakout on Monday has some analysts betting that Bitcoin could soon reach $80,000.
Before Monday’s bullish breakout, 10x Research founder Markus Thielen recommended clients buy at $69,000 with a stop loss of $65,000, targeting a push towards $80,000 in the coming weeks.
Attention now turns to the release of US CPI inflation data later in the week. Bitcoin has held up well recently despite the market decline on bets on rate cuts.
Fed policymakers downplay need to cut rates recently, following strong economic data in the United States.
But the Bitcoin bulls remained under control, in a context of still high risk-taking in the financial markets. Bullish narratives such as continued positive net inflows into spot Bitcoin ETFs and the upcoming halving also helped.
Bitcoin remains on track to potentially hit $100,000 this year. For investors new to crypto, Bitcoin is definitely a candidate for the best crypto to buy now.
But if Bitcoin is poised for a head start, higher beta altcoins could rise. For more experienced crypto investors looking to increase their risk, altcoins could generate faster gains.
Here are some performers Monday that could be the best crypto to buy now.
Best Crypto to Buy Now
Neo (NEO)
Neo (NEO), the cryptocurrency of the new smart contract blockchain NEO, is booming on Monday.
According to CoinMarketCap, this was the last time up 33% in the last 24 hours at $20.50 per token, bringing its market capitalization to just under $1.5 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.
Dog Hat (WIF)
Dogwifhat (WIF), the new favorite on the Solana blockchain, is regaining its bullish momentum.
According to CoinMarketCap, it was last up 12% in the last 24 hours and is trading near $4.20. This means that its market capitalization was around $4.2 billion.
This means that Dogwifhat’s market cap is still around 7 times lower than Dogecoin’s, suggesting there is plenty of room for potential upside.
Dogwifhat is a strong contender for the best crypto to buy now.
Toncoin (TON)
Telegram-affiliated cryptocurrency Toncoin (TON) hit new all-time highs on Friday.
According to CoinMarketCap, TON was last up about 15% in 24 hours, and its market capitalization stands at just over $21 billion.
Its affiliation with Telegram, the world’s leading private messaging app, positions Toncoin as a potential leader in the 2024 bull market.
Its market cap could rise much higher from here on, with investors potentially realizing 3-5x gains.
This is why it could be 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.
This is where investors buy the tokens of new crypto projects to help fund their development.
These tokens are almost always sold cheaply, and there is a long history of presales offering huge exponential gains to 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 14 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.
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