Traders are turning to the altcoin markets in search of the best crypto to buy now as Bitcoin remains rangebound in the $70,000-71,000 area. Themes like the upcoming Bitcoin halving, Fed interest rate outlook, and Bitcoin ETF flows are being closely monitored. With the halving just nine days away, there is anticipation of potential price turbulence. The return of spot Bitcoin ETF demand, sparked by fading GBTC outflows, is helping to support the market. Strong US CPI data suggests that it may be too early for the Fed to cut interest rates this summer, pushing back the timing of US rate cuts. However, the long-term trajectory still points towards easing, with central banks globally also easing.
New York Fed President John Williams has reiterated that rate cuts might make sense later this year. Major central banks, including the ECB, are signaling rate cuts to come this summer. This macroeconomic environment is expected to provide a long-term tailwind for Bitcoin and the broader market. Many investors are betting that BTC can hit $100,000 this year. For those looking to get involved in crypto, Bitcoin is considered the best option due to its status as the oldest, most time-tested, and trusted crypto asset on the market.
While Bitcoin may offer limited gains in this bull market, many altcoins have much greater upside potential, making them attractive for investors seeking bigger returns. Some of the altcoins that are moving and could be considered the best crypto to buy now include BitTensor (TAO), a decentralized AI protocol that recently hit new all-time highs on Binance. Helium (HNT), a network leveraging a decentralized global network of wireless hotspot providers, and NEO, the cryptocurrency of the smart contract blockchain NEO, are also experiencing pumps.
For those looking for near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales. These presales offer investors the opportunity to buy tokens of early-stage crypto projects at discounted prices, supporting the development of these protocols. Many presale projects have delivered exponential gains to early investors, making them an attractive option for those willing to take on the risk. The team at Cryptonews spends time researching and identifying the best crypto presales of 2024, providing investors with potential opportunities for significant gains. However, it is important to note that crypto is a high-risk asset class, and investors could lose all of their capital.
