The recent movement of $2 billion worth of Bitcoin by the US government has caused concern among traders, leading them to assess which cryptocurrencies may be the best to buy now for quick gains. The timing of the movement coincided with former US President Donald Trump’s proposal to establish a national Bitcoin stockpile, causing speculation about potential government selling. This has created uncertainty in the market, with many fearing that the Biden/Harris administration may dump Bitcoin ahead of the election. Despite this, the underlying fundamentals for Bitcoin remain strong, with factors such as Fed rate cuts, post-halving selling easing, and Mt Gox repayments being made. Investors are now looking to altcoin markets to find the best crypto to buy amidst the uncertainty.
Bitcoin SV (BSV) has seen a strong comeback, gaining 14% in 24 hours and rising above $51. However, it remains below a key resistance level at $56. If it can clear this level, it may see a return to yearly highs around $125. Additionally, Book of Meme (BOME) and AIOZ Network (AIOZ) have also shown strong performance on Monday, with BOME up 13% and AIOZ gaining over 10%. These cryptos have the potential for significant gains, with BOME potentially reaching record highs around $0.030 and AIOZ seeing a 2x rally back to yearly highs in the $1.10 area. These altcoins are being viewed as potential candidates for the best crypto to buy now.
While altcoins may offer impressive gains in this bull market, smaller and lesser-known cryptos sold through ICOs could provide even greater upside potential. Web3 start-ups often conduct token presales at a discount, offering investors the opportunity to make quick gains if done intelligently. Investing in presales can be risky, but it can also be one of the best ways to profit in the crypto market. Several Cryptonews.com’s favorite presales are highlighted, providing investors with potential opportunities for significant gains.
Overall, the crypto market is currently experiencing uncertainty due to government Bitcoin movements and the upcoming US election. While Bitcoin remains strong fundamentally, the potential for a significant sell-off by the US government has led investors to seek alternative cryptocurrencies for potential gains. Altcoins such as Bitcoin SV (BSV), Book of Meme (BOME), and AIOZ Network (AIOZ) have shown promising performance and are being considered as potential options for investors looking to capitalize on the current market conditions. Additionally, investing in ICOs and token presales presents an opportunity for even larger gains, provided investors conduct thorough research and due diligence. Despite market uncertainty, there are still opportunities for investors to profit in the cryptocurrency space.
