Top 5 Crypto To Accumulate Ahead Of The Bull Market
The crypto market has slowed down significantly over the past week and digital assets in the space are suffering as a result. However, while times like these can be disheartening for investors, they also present a unique opportunity to enter the market at low, favorable prices before the next leg. So, here are the top 5 coins to accumulate before the next bull market.
Bitcoin (BTC) is a no-brainer when it comes to accumulating cryptocurrencies waiting for a rally. This is because the asset is, most of the time, the one that drives the highs of the rest of the market. As a result, Bitcoin will almost certainly move ahead of the rest of the market.
Also, it is the biggest cryptocurrency on the market. As the most trusted of all digital assets, it is the safest option, especially for those who don’t want to take too much risk with altcoins. Bitcoin has proven its resilience time and time again, and this time is no different.
Being the second largest cryptocurrency in the space and the top altcoin has earned Ethereum’s respect. This is an altcoin that managed to outperform Bitcoin year on year and brought the markets of decentralized finance (DeFi) and non-fungible tokens (NFT).
For Ethereum, as long as Bitcoin moves, it is almost guaranteed that it will move too. This close correlation with BTC movement ensures that when the rally begins, ETH will be right behind Bitcoin on gains.
Litecoin sometimes manages to go unnoticed, but the coin has proven to be a good fit over the years. It operates very similarly to Bitcoin, but is much cheaper and faster compared to the pioneering cryptocurrency.
However, one thing that makes Litecoin a good buy right now is the fact that its halving is almost upon us. As with BTC, the LTC halving is very bullish for the cryptocurrency. Slated to take place in early August, it is a catalyst that could push the price of the digital asset above $120 very quickly.
Dogecoin appears on this list due to Elon Musk’s affinity for the meme currency. Now, for many, this is a coin of no use. However, the cryptocurrency market has proven time and time again that for most investors it is less about utility and more about the possibility of profit.
DOGE has managed to outperform many of its larger counterparts due to Musk’s support of moving the price at different prices and this time is no different. For Elon Musk’s proclaimed favorite cryptocurrency, investors can expect more upside for this coin and even better movement once the bull market begins.
Binance’s native cryptocurrency is one of the most consistent performers in the market. It went from double digits at the start of the last high to over $700 at the peak. Expectations remain the same for the next bull market, as BNB is predicted to surpass $1,000 this time around.
Binance’s scheduled quarterly token burns also work in its favor, and as the cryptocurrency exchange removes tokens from circulation every three months, the coin’s value becomes higher. This makes it a good choice to wait for the next bull rally.
The Cryptocurrency Market
Currently, the crypto market is still trading sideways and has not shown any signs of movement up or down. However, as the next Bitcoin halving approaches in 2024, market expectations soaring to new all-time highs are rampant.
However, it is still important to invest responsibly and practice proper risk management due to the volatile nature of cryptocurrencies. In this way, the possibility of profit is not eliminated, but the possibility of losses is well managed.
Market cap still above $1 trillion | Source: Total cryptocurrency market cap at TradingView.com