Best Crypto to Buy Today April 5 – NEAR Protocol, Toncoin, Bitcoin Cash

Last updated: April 5, 2024 at 2:21 p.m. EDT | 3 minutes of reading

Best crypto to buy today April 5 – NEAR Protocol, Toncoin, Bitcoin Cash / Source: Cryptonews

Major crypto prices are falling in weekly ranges as traders face stronger US economic data and further hawkish comments from Fed policymakers. These factors have combined to push markets to reduce their bets on Fed rate cuts in 2024. Investors looking for quick returns continue to scour the altcoin markets to find the best crypto to buy today today.

Bitcoin (BTC) was last trading in the upper $67,000 range, close to its 21DMA. Its price fell more than $2,000 on Friday after a report on the American labor market better than expected.

Fed policymakers also downplayed the need to cut rates this week. Lorie Logan, President of the Federal Reserve Bank of Dallas said Friday that it was far too early to think about rate cuts, and Governor of the Federal Reserve Michelle Bowman reiterated this position.

As traders return to rate cut bets, this complicates the outlook for BTC. Expectations of Fed easing have been a major tailwind for BTC in recent months.

This suggests that Bitcoin may not be the best crypto to buy today, given the possibility of continued consolidation. Of course, strong spot Bitcoin ETF demand and the upcoming halving means long-term price risks are tilted to the upside.

Gold hits new highs geopolitical risk can also be a favorable wind. As Coinbase noted on Friday, investors are increasingly viewing gold as Bitcoin.

But altcoins still potentially offer a better chance short-term gains. Indeed, altcoins can rise regardless of broader market conditions, but according to their own bullish narratives.

Here are some performers Friday that could be the best crypto to buy today.

Best Crypto to Buy Today

NEAR Protocol (NEAR)

Ethereum competes with NEAR protocol’s native token NEAR is up almost 6% over the past 24 hours Friday.

Last just above $7.35, the cryptocurrency is eyeing a quick 3x rebound back to an all-time high near $22.

With a market cap of just under $8 billion, NEAR could easily grow 3-5x from here.

This is why it also potentially ranks as the best cryptocurrency to buy today.

Toncoin (TON)

Telegram-affiliated cryptocurrency Toncoin (TON) is consolidating near record levels on Friday.

According to CoinMarketCap, TON was last up about 5% in 24 hours, and its market capitalization is just under $19 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 today.

Bitcoin Cash (BCH)

Bitcoin alternative Bitcoin Cash (BCH) is one of the best performers on Friday, according to CoinMarketCap.

Up 3.3% in 24 hours, BCH consolidates near its multi-year highs in the $670 zone.

Following its recent halvingbets have increased that it could return to its 2021 highs, around $1,600.

The prospect of 2x+ gains means it could be the best cryptocurrency to buy today.

But BCH will first need to end its long-term, multi-year downtrend. She is currently encountering strong resistance in this area.

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.

See the 14 cryptocurrencies

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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