The cryptocurrency market is facing its lowest level in several months, with the global market cap falling below $2 trillion. The latest correction is likely due to uncertainty over interest rate cuts in the United States, which is leading to a decline in the stock market.
The Japanese stock market is experiencing its worst decline since 1987. Rising geopolitical tensions in the Middle East may have unnerved investors and traders.
The recent market crash could be a good entry point for new investors. It is also an opportunity for older investors to increase their holdings and lower their average purchase cost. Buying the dip is a powerful investment strategy that many investors follow.
Top 5 Cryptocurrencies to Buy During the Crisis
Bitcoin (BTC)
Bitcoin (BTC), the world’s largest cryptocurrency, has experienced a major price correction in recent weeks. However, many experts believe that this represents an excellent opportunity to invest in digital assets with strong long-term potential.
Key points to consider:
Institutional Adoption: Companies like Tesla and MicroStrategy have made significant investments in Bitcoin. Scarcity: With a limited supply of 21 million coins, Bitcoin’s scarcity plays a crucial role in its value proposition. Network Security: Bitcoin’s robust and secure network makes it a reliable store of value.
With its stellar track record and strong market position, Bitcoin remains a solid investment option even during price collapses.
Solana (SOL)
Solana price has dropped by 20% over the past month and 10% today. However, there are plenty of reasons to be bullish on SOL.
For example, VanEck and 21Shares recently filed for Solana spot ETFs, with strong speculation that traditional finance giants BlackRock and Fidelity could be next.
In such a scenario, it would not be surprising if SOL headed for new highs on the back of the BlackRock ETF news, similar to Bitcoin and Ethereum. Similarly, there is an increasingly strong possibility that SOL ETFs will be approved, considering that crypto-friendly Republican candidate Donald Trump is now the favorite to win the White House in November.
Finally, Solana has been the first cryptocurrency to recover every time the crypto market has seen an upward reversal in this cycle. Hence, it remains the top choice for the best cryptocurrency to buy despite the ongoing crypto market crash.
Chainlink (LINK)
Similar to Solana, Chainlink is one of the first altcoins to rally when the crypto market begins to reverse upwards. If the bottom has indeed been reached for Bitcoin, this could be one of the last opportunities to buy the dip in LINK. In a crypto market that has quickly become saturated with meme coins, Chainlink’s bullish momentum is largely a result of its strong fundamentals.
It continues to offer a wide range of next-generation technologies to other crypto projects. In fact, its Cross-Chain Interoperability Protocol (CCIP) is used by leading TradFi companies including SWIFT and ANZ Banking Group.
As a result, experts like Michael van de Poppe believe that LINK could be one of the best performing cryptocurrencies over the next few months.
Ondo (ONDO)
Ondo (ONDO) is trading between $0.54 and $0.87, and despite recent bearish pressure, it is well-positioned for a significant rally if the market turns positive. The coin has seen a decline of around 8% in the past week but has previously shown significant growth with a 180% increase over six months. If ONDO breaks the nearest resistance at $1.01, it could rally to $1.33, which would represent a gain of around 50% from its high point within the current range. With the RSI around 45 and the Stochastic below 37, ONDO has plenty of room to grow, making it a strong candidate for future gains.
Banana Gun (BANANA)
Banana Gun (BANANA) allows users to automatically purchase new tokens as soon as they are launched on blockchains such as Ethereum, Solana, and Base. With over 200,000 lifetime users and growing, Banana Gun generates over $1 million in weekly fees with volumes exceeding $200 million.
The unique value proposition it offers and its strong user base make it a DeFi platform worth watching closely. BANANA is a new product and therefore can be risky. With a market cap of $110 million, it could see 10-15x growth over the course of 12 months.
Conclusion
BTC, SOL, LINK, BANANA, and ONDO look very promising for beginners looking to maximize gains. Each of these cryptocurrencies offers unique advantages, making them compelling investment options.
With the current rally in 2024, these coins are poised for significant growth. They represent diverse opportunities, catering to different strategies and risk appetites. Investing in these picks now could lead to high returns as the market continues its upward trajectory.
