In the Bitcoin market, the best odds come during bear market periods, contrary to popular belief. We bought low and waited for it to rise. However, getting a cryptocurrency that can bounce back after a disaster is crucial. At the time of writing, someone doubled their investment by buying Bitcoin for $29,000 in June...
Altcoins suffered the most despite the drop in Bitcoin value. At the time of writing, BTC is down 3.65%, but altcoins are down even more percentage points. The value of ETH dropped by 5.24%. BNB, ADA and Solana lost 6.17%, 10.30% and 9.52% respectively. Other altcoins with lower valuations are also losing ground. Graph (-12.27%), Cosmos (-12.48%) and Stellar (-12.48%) (12.01%).
Nonetheless, this is a good opportunity to invest in altcoins. Following Wednesday's Bitcoin crash, here are our top 5 cryptocurrencies to buy.
VeChain: By the end of 2021, the price should be at $0.334 Last 24 hours down: -10.8%
VeChain is a cryptocurrency that aims to build a decentralized system to address supply chain management challenges. Its purpose is to provide a platform that allows for the transparent flow of information, efficient cooperation and rapid value transfer. PwC, Microsoft and Renault are just a few of VeChain’s key partners.
VeChain Token is currently valued at $0.1258, below its technical price target of $0.15. After rallying to $0.14 yesterday, the cryptocurrency appears to be moving towards capital resistance at $0.15. This bullish trend was punished by poor results.
If its price recovers and breaks above the capital resistance line, the next touchdown will be at $0.334.
This cryptocurrency is a serious challenger to Ethereum. Elrond is a more attractive cryptocurrency than Ether in terms of scalability and transaction fees. Users can make 15,000 transactions per second on their blockchain for around $0.001 in fees. Sharding technology divides blocks into sub-blocks called shards, which are responsible for the performance of the network.
Egold or EGLD is Elrond's token. Currently worth $240. The maximum supply of tokens is set at 20.4%. It is estimated that there are around 20 million in circulation on the market. So, like BTC, it is a deflationary coin. At its current price, it's currently undervalued.
The price of eGold has broken below the ascending line of the triangle on the chart. It is crucial that it regains support at $248; otherwise, it risks falling to $200. If he breaks out of the triangle again, he will surpass the $300 ATH and possibly delay the $500 technical target.
Ampleforth: Win at least 50% by the end of the year Reduction in the past 24 hours: -4.5%
Dogecoin is the last cryptocurrency on the list. Despite the coin meme in the market, it failed to take off. Several analysts predict that the Governor can reclaim his $0.72 ATH level. Even the Shiba Inu took his place throughout the trading session.
In order to reach the first resistance level at $0.32 as soon as possible, the Governor must show signs of strength. It must then continue to rise to hit another resistance level at $0.46. After that, he might be able to break the $0.72 barrier.