Bitcoin (BTC) might be the best crypto to buy now this Monday, in wake of its latest surge that has seen it hit $70,000 for the first time since July on Coinbase, per TradingView.
The world’s largest crypto is up more than 3.2% in the past 24 hours and eyeing a retest of its record highs in the $74,000 as the US presidential election nears.
Markets are pricing in a likely Trump victory, which is seen as good for the crypto industry given his endorsements of Bitcoin and DeFi.
Couple that with the Fed continuing to ease rates and a US economy still growing at a robust pace, and the pieces are there for a strong end to 2024.
Bitcoin is in with a shot of hitting $100,000 before the year’s end, which would mark a 43% upside from current levels.
For investors new to crypto, Bitcoin is a great shout for the best crypto to buy now.
That said, more experienced investors hunting greater upside might want to pick riskier coins with a higher beta.
Here are some strong candidates for the best crypto to buy now.
Best Crypto to Buy Now
Ethereum (ETH)
Ethereum (ETH) isn’t keeping up with Bitcoin’s rally on Monday, which fits with the same story of underperformance that has been in play since June.
ETH/BTC just hit its lowest level since April 2021, but chatter surrounding Ethereum’s potential “undervaluation” is growing.
As Bitcoin surges to record highs, investors who feel as though they have missed the boat might go looking for the next high-potential play.
And, still down more than 45% from its record highs, Ethereum could well attract attention.
A quick 2x surge to take Ethereum towards $5,000 is possible, making it a strong candidate for the best crypto to buy now.
Dogecoin (DOGE)
Crypto’s biggest meme coin, Dogecoin (DOGE), was the strongest performer among the top 100 cryptos on Monday, gaining 13% in 24 hours and nearing $0.16 per CoinMarketCap.
Dogecoin is a dark horse contender for a crypto that might benefit the most from a Trump US Presidential election victory. Why?
The world’s richest man, Elon Musk, is likely to feature in a future Trump admin as head of a newly created Department of Government Efficiency (D.O.G.E) agency.
DOGE was even getting shoutouts at Trump’s latest major rally at Maddison Square Garden in New York over the weekend.
The narratives that could send Bitcoin to $100,000 are all set to benefit Dogecoin. Still, it looks likely to benefit from a further rise in cultural significance as Musk’s political prominence rises.
Bitcoin SV (BSV)
Bitcoin SV (BSV), a fork of the original Bitcoin blockchain, is another strong performer on Monday.
Per CoinMarketCap, it was last up 10.3% in 24 hours and trading above $50.
BSV is currently probing its 200DMA, and a break above here could trigger a fast 2.5x surge towards yearly highs in the $125 area.
However, despite its claims to scalability and adherence to Satoshi’s vision, Bitcoin SV’s long-term value proposition remains under scrutiny due to recurring security issues and a lack of significant, sustainable adoption beyond speculative trading.
Alternative Option For Best Crypto to Buy Now
For traders looking to turn high profits, crypto presales might be a better option.
Presales offer the advantage of buying tokens at significantly lower prices before they hit the broader market, potentially leading to substantial returns upon listing if the project gains traction.
Additionally, the volatility and speculative nature of presales can provide higher risk-reward scenarios than established cryptocurrencies like BSV, which might not offer the same price jumps.
Analysts at Cryptonews.com monitor the presale market closely, looking for the next 100x gem. Here are some of their top picks.
17 Best Crypto Presales to Invest In Now
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