The cryptocurrency market has slowed dramatically over the past week and digital assets in the space are suffering as a result. However, while such times can be frustrating for investors, they also present a unique opportunity to enter the market at low and favorable prices before the next one. Thus, here are the top 5 altcoins to accumulate ahead of the next bull market.
Bitcoin (BTC)
Bitcoin (BTC) is a no-brainer when it comes to the cryptocurrency to accumulate in anticipation of a bullish rally. This is because the asset is often driving the rest of the market’s rally. As a result, Bitcoin will almost certainly move ahead of the rest of the market.
Moreover, it is the largest cryptocurrency in the market. As the most reliable of all digital assets, it is the safest option, especially for those who are not looking to take too much risk with altcoins. Bitcoin has already proven its ability to recover time and time again, and this time is no different.
Ethereum (ETH)
As the second largest cryptocurrency in the space and another leading currency, Ethereum has earned its respect. This is an altcoin that has managed to outpace bitcoin on a yearly basis and has brought decentralized finance (DeFi) and non-fungible token (NFT) markets.
For Ethereum, as long as Bitcoin is moving, it will almost certainly move as well. This close correlation with the movement of BTC ensures that when the rally begins, ETH will be right behind Bitcoin with gains.
Litecoin (LTC)
Litecoin sometimes manages to fly under the radar but the coin has proven to be a good option over the years. It works in a very similar way to Bitcoin but is much cheaper and faster compared to the leading cryptocurrency.
However, the only thing that makes Litecoin a good buy right now is the fact that the halving is almost here. Just like with BTC, the LTC halving is very bullish for the cryptocurrency. It is expected to take place in early August, a catalyst that could push the price of the digital asset above $120 very quickly.
Dogecoin (DOGE)
Dogecoin appears on this list due to Elon Musk’s affinity for the meme currency. Now, for many, this is absolutely no interest currency. However, the cryptocurrency market has proven many times that for the majority of investors, it is not so much about utility as it is about profit potential.
DOGE has been able to outperform a lot of its larger peers due to Musk’s support for moving the price at different prices and this time it is no different. As for Elon Musk’s favorite cryptocurrency, investors can expect more upside for this coin, and even better movement when the bull market begins.
BNB (BNB)
Binance’s native cryptocurrency has been one of the top performers in the market. It went from double digits at the start of the latest bull run to over $700 at the peak. The outlook remains the same for the next bull run as BNB is expected to break above $1,000 this time.
Binance’s scheduled quarterly token burns also work in their favour, and since the cryptocurrency exchange removes tokens from circulation every quarter, the value of the coin gets even higher. This makes it a good option to continue on the next ascent of the rally.
crypto market
At the moment, the cryptocurrency market is still trading sideways and has not shown any sign of an upward or downward movement. However, as the next bitcoin halving looms in 2024, predictions are spreading that the market will rally to all-time highs.
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 excluded but the possibility of losses is well managed.
The market capitalization is still holding above $1 trillion source: Total cryptocurrency market cap on TradingView.com