As crypto markets succumb to sell pressure on Tuesday, traders are hunting for altcoins gems that could still provide short-term upside and be the best crypto to buy now. Bitcoin (BTC) was last trading around $68,000, down 2% on the day. Mt Gox movements have triggered concerns in the market, as the fallen exchange owes its creditors 142,000 BTC. Analysts suggest that the market can absorb this sell pressure, with not all creditors expected to dump their tokens immediately.
With the Bitcoin price having slipped, experts suggest that now might be a good time to buy the dip. There are several reasons to be long in the crypto market, as the political and regulatory landscape in the US is becoming more pro-crypto. Additionally, with US Core PCE inflation data set for release on Friday, Bitcoin under $68,000 could be a good buy. Other cryptocurrencies like Ethereum (ETH) under $3,900 or Solana (SOL) under $170 are also considered good options.
For traders looking for quick gains, smaller and lesser-known altcoins could be a better bet. Notcoin (NOT) is a newly launched crypto token that powers a viral Telegram-based play-to-earn game, ranking as the 94th largest crypto on the market with the potential for significant gains. Celestia (TIA) is showing positive signs of shifting its downtrend, signaling a potential trend shift for a rebound in value. Chiliz (CHZ), the token that powers the sports and entertainment-focused crypto platform Socios, is also showing positive momentum and potential for gains.
Investing in new crypto presales is another high-risk/high-reward strategy that could deliver fast gains. New crypto start-ups often offer their native protocol tokens at a discount during presales, with the potential for significant returns if the project gains traction. However, investing in presales carries similar risks to traditional start-up investing, with success depending on the project’s management and execution. The experienced team at Cryptonews has compiled a list of their favorite presales in the market right now.