The cryptocurrency market is down today, with most altcoins down by 10% or more in the last 24 hours. However, everything has stayed the same regarding the fundamentals as cryptocurrency adoption grows. This means the current dip is temporary, and a significant price rally could be coming up shortly. This leads to the question of the best cryptocurrency to buy today and take advantage of a marketwide rebound.
This is the question we seek to answer in this article. While all cryptocurrencies will soon see a rebound, those with strong fundamentals or significant news coming up are likely to lead the next rally. These are the cryptocurrencies that have been given priority in this article.
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Top Cryptocurrency To Buy Now
While many cryptocurrencies hold a lot of potential for a rebound, the ones in this list have the most potential to lead the charge. Bitcoin stands to rebound faster due to rising demand ahead of the halving in 17 days, Bitcoin cash for the fact that the halving is coming up on April 4, and Stacks that has the Nakamoto release coming up on April 15. Then there is ONDO, which is in the middle of the Real-World Asset tokenization drive, and Digibyte, which is finally getting attention for being one of the best cryptocurrencies ever created.
Bitcoin (BTC)
Bitcoin (BTC) is an obvious choice for investors looking to buy the current cryptocurrency dip. One of the critical factors that make Bitcoin attractive is the fact that money is increasingly flowing into it as investors seek to take positions ahead of the halving.
Over the weekend, a single investor bought more than $1 billion worth of Bitcoin, indicating just how strong the demand for Bitcoin is now. With how Bitcoin has performed in the past after the halving, the odds are that this demand will keep getting more robust in the coming days. This means the potential for a price rebound is quite strong. Besides, over $3.4 billion in leveraged shorts for Bitcoin at around $74k.
Levered longs are wiped out.
The only real liquidity remaining for market makers is on the short side. Might take some time but they will have their turn. Tick tock! #bitcoin pic.twitter.com/C8RieJ79jp
— Bitcoin Munger (@bitcoinmunger) April 2, 2024
These present the perfect setup for a short squeeze, and with such a high amount of liquidity, could open the way for Bitcoin to hit a price as high as $80k in the short term. The continually increasing inflows into Bitcoin ETFs could trigger a price rally in the short term.
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is another cryptocurrency that makes for a perfect buy in today’s price dip. That’s because, unlike Bitcoin’s halving, which is more than two weeks away, the Bitcoin Cash halving is just two days away. This is why Bitcoin Cash has outperformed all large-cap cryptocurrencies in recent weeks.
While Bitcoin Cash has dipped alongside the broader market, the odds are that buying momentum will surge in the next two days as investors take advantage of the price drop so close to halving. Investors are looking forward to a price rally for Bitcoin Cash way past the halving for two reasons.
First, Bitcoin Cash is one of the most adopted cryptocurrencies. This means the halving of the supply will have a positive impact due to the simple economics of demand and supply. Then, there is the fact that the upcoming Bitcoin halving will lift the broader market. This means Bitcoin Cash, which has already been gaining upside momentum due to its halving, could get the boost it needs to push it to new all-time highs.
BitcoinCash Weekly News April 1st 2024 by the Bitcoin Cash Foundation
GENERAL PROTOCOLS AND THE BCHF TEAM UP TO HELP EVERYONE https://t.co/3i0tycxvo3https://t.co/iGS5cV1sbM is an new website that helps anyone get up to speed on BitcoinCash. From fundamentals to latest… pic.twitter.com/44delUNtt3
— Bitcoin Cash Foundation (@BCHF_ORG) April 1, 2024
With some analysts predicting highs of $5000 or more, Bitcoin Cash is an undervalued cryptocurrency to buy now.
Stacks (STX)
Stacks (STX) is a Bitcoin layer-2 solution that has performed exceptionally well this year. While Stacks, like the rest of the market, has dipped today, the odds are that it could be headed to new highs soon.
One of the key factors likely to trigger a Stacks rally is the fact that it has a major event coming up on April 15. Per the Stacks developer roadmap, April 15 – 19 is the period for the Nakamoto release. This update will make the Stacks network faster and allow for 100% Bitcoin finality.
Besides the magnitude of this event, there is also the fact that it is perfectly timed to align with the Bitcoin halving, which is coming up on April 19. This means Stacks stands to benefit from the strength of its news and the potential mega uplift that the Bitcoin halving could give to the market, as has happened in past cycles. This makes Stacks one of the hot cryptocurrencies to buy and hold in April.
ONDO (ONDO)
ONDO (ONDO) has recently become one of the top-performing cryptocurrencies. This has mainly been driven by the hype around Real World Asset tokenization. The good news for ONDO is that this is not just hype but a pointer to the overall direction that the financial markets are headed.
Every month, we cover the latest developments from the forefront of real world asset tokenization. Were you able to keep up with all the advancements in March? 👀https://t.co/FRRITMNHas
— Ondo Finance (@OndoFinance) April 1, 2024
BlackRock, one of the largest financial institutions in the world, has already committed $100 million to tokenized assets and expects this market to grow to as much as $10 trillion. The best part is that ONDO is one of the cryptocurrencies at the center of the real-world asset tokenization space. ONDO is already a partner of BlackRock, the investment fund that has put itself at the center of asset tokenization. This makes ONDO one of the most highly-potential cryptocurrencies that can be bought today.
Digibyte (DGB)
Digibyte (DGB) is one of the best cryptocurrencies in terms of fundamentals. It is entirely decentralized, can scale well, and has the longest UTXO without experiencing downtime since it launched. Due to its highly decentralized nature, Digibyte has yet to benefit from the hype that most centralized coins with marketing teams enjoy. However, the market seems to be coming around and recognizing Digibyte’s strengths.
The #DigiByte developers are happy to announce that v8.22.0-rc4 has been released for testing! Please help test the $DGB RC4 core desktop wallet on Windows, Linux & Mac. If you are having import issues from old wallets this version should fix your problem. Thanks everyone!…
— DigiByte (@DigiByteCoin) April 2, 2024
This is quite evident in its recent price action. Digibyte is one of the few top cryptocurrencies that have not experienced a significant dump on the market correction in the last 24 hours. With awareness rising around Digibyte’s strengths, the odds are high that it could hit $1 this bull cycle. This makes it a highly undervalued cryptocurrency in which to invest today.
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