Top 5 cryptocurrencies you can buy right now

Top 5 cryptocurrencies you can buy right now

Any market is cyclical, and the cryptocurrency sector is no exception. Due to increased volatility, bearish and bullish cycles are particularly different. As part of the next bearish wave, rumors about the “long winter” or even the death of cryptocurrency appear regularly. Then there is a rebound from the bottom, and the growth of bitcoin/altcoins silences the opponents for a while.

Today we are going to analyze the five most promising coins with multiple growth potential in the near future. In order not to bite your elbows on the next bullish wave, calculating the loss of profit, you should act right now.

Valery Groom, a trader of the World of Trading Online platform, author of a course on cryptocurrencies for beginners, explained how to do it.

 

Why are cryptocurrencies now a great investment option?

Let’s briefly look at the reasons for the cryptocurrency crash as a whole:

● In May, the collapse of LUNA and UST came as a shock.

● The Fed’s tightening of monetary policy, leading to an outflow of investors from risky assets.

● No helicopter money distribution, as happened during the 2020 pandemic, when a significant portion was sent to cryptocurrencies.

● Causing some concern is the level of indebtedness of large companies owning cryptocurrencies.

● On June 13, Binance suspended BTC withdrawals due to a “blocked transaction” that mainly affected Bitcoin.

Many used the cryptocurrency as an asset to protect money from inflation, and its growth was also facilitated by the ultra-loose policy of the world’s largest regulators. As key currencies fell, a chain reaction began: an increasing number of investors started to dump portfolios.

The key point here is that the fall is a temporary phenomenon. The cryptocurrency has already proven its viability and is likely to grow in the future.

To make money, the investor works ahead of the curve. While the cryptocurrency is at a low level, he can and should look for tokens with maximum growth potential. And, most likely, it will not be Bitcoin, but Ethereum. If big coins give x2-x5, then lesser-known altcoins can give x10-x100.

 

Methodology for evaluating altcoins.

The simplified analysis looks like this:

● The project itself is being evaluated: what does it do, what problem does it solve.

● The principle of operation is being studied: if there is an outlier limit, what consensus algorithm is used. It is desirable that an infinite issuance is impossible, over time the amount of tokens in circulation will decrease, this may affect the exchange rate of the currency.

● The website and social networks of the project are being studied. It is important for developers to write for activity on Twitter. South coinsguru.io, can evaluate the effectiveness of the project, Ethereum serves as a base.

● Attracted investments are evaluated: this is a kind of filter. If major players invest in this, the project has potential. Investments in the project itself can also be taken into account, ideally investments in other areas.

● Calendar of key events. This information can be found at coinmarketcal.com: the more important the news, the better.

● Cryptopanic.com researching the news archive. We are interested in the frequency, the reaction to them.

● The chart itself is evaluated from the point of view of technical analysis.

Based on this analysis, we will put together a mini-wallet of 5 altcoins.

 

NEAR

Arguments in favor of buying a coin:

● It is a decentralized platform on which DAPS can be implemented. Developers promise high performance and the key feature of the Near protocol is the Nightshade shadowing technology.

● Issuance is limited, the maximum number of tokens is 1 billion, more than 70% has already been mined. Consensus algorithm appears, “wallet mining” is possible.

● Twitter activity is high.

● There are large investors, a coin base, FTX investing in a near protocol. Developers themselves are actively investing; this is a good sign.

● Developers are moving forward on the project, several major events are planned for the summer on the calendar.

● The mirror level in the 1.7 area is clearly distinguishable. When you try this operator, you can buy it nearby. Alternatively, you can buy at both the current level and the average with an additional decrease in currency.

Cardano

Highlights of the play:

● Cardano is something like Ethereum “on steroids”, it differs from Buterin’s creation with high yield.

● There can be no more than 45 billion tokens, more than 75% of this amount has already been mined, PoS is used.

● Twitter is very active.

● Several major events related to Cardano are planned. In the past there were many press releases featuring this altcoin, almost daily there are messages of this type. Marketing at its best.

● On the chart, we see a mirror level test of approximately 40 cents per coin. In theory, it is possible to increase support to 20 cents per ADA, but this scenario is unlikely. On the contrary, there will be an increase compared to current levels.

Polygon’s arguments

In favor of buying altcoin:

● Polygon is used to develop Ethereum-enabled blockchains, formerly known as the Matic network. ETH remains popular, which contributes to Polygon’s popularity.

● The number of tokens is limited. Out of 10 billion, more than 8 billion have already been released, Pops consensus algorithm is used.

● There are no comments on Twitter activity. There are large companies among investors, and Polygon also has a good investment portfolio; this is proof that the developers focus on long-term work.

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