While bearish times can be discouraging for investors, they also present a unique opportunity to enter the market at low and favorable prices before the next rally.
The crypto market has slowed down significantly over the past week, and digital assets in the space are suffering as a result. Below are the top five coins to accumulate before the next bull market, starting with Bitcoin.
Bitcoin (BTC)
Bitcoin (BTC) is a no-brainer when it comes to cryptocurrencies to hoard in anticipation of a bullish rally. This is because, in most cases, the asset is what drives rallies in the rest of the market. As a result, Bitcoin will almost certainly move before the rest of the market.
In addition, it is the largest cryptocurrency on the market. As the most trusted of all digital assets, it is the safest option, especially for those who are not looking to take too much risk with altcoins. Bitcoin has already proven its resilience time and time again, and this time is no different.
Ethereum (ETH)
Being the second-largest cryptocurrency in the space and the leading altcoin, Ethereum has earned its respect. This is an altcoin that has managed to outperform Bitcoin year after year and has brought with it the decentralized finance (DeFi) and non-fungible token (NFT) markets. For Ethereum, as long as Bitcoin moves, it will almost certainly move too. This close correlation to the movement of BTC ensures that when the rally begins, ETH will be right behind Bitcoin with the gains.
Litecoin (LTC)
Litecoin sometimes manages to slip under the radar, but the coin has proven to be a good option over the years. It works very similar to Bitcoin but is much cheaper and faster compared to the pioneer cryptocurrency.
However, one thing that makes Litecoin a good buy right now is the fact that its halving is almost here. As with BTC, the LTC halving is very bullish for the cryptocurrency.
Expected to take place in early August, it is a catalyst that could potentially drive the price of the digital asset above $120 very quickly.
Dogecoin (DOGE)
Dogecoin appears on this list due to Elon Musk’s affinity for the meme coin. Now, for many, this is a useless currency. However, the crypto market has shown many times that for most investors, it is less about profit and more about the possibility of profit.
DOGE has been able to outperform many of its larger counterparts due to Musk’s support of moving the price to different prices and this time is no different. For Elon Musk’s proclaimed favorite cryptocurrency, investors can expect more upside for this coin and even a better move when the bull market begins.
BNB (BNB)
Binance’s native cryptocurrency has been one of the most consistent on the market. It went from double digits at the start of the last bull run to over $700 at the peak. Expectations remain the same for the next bull market as BNB is forecast to break above $1,000 this time.
To conclude, it is paramount to bear in mind that the cryptocurrency market continues to trade sideways, and it has not shown any signs of moving higher or lower. However, as Bitcoin’s next halving in 2024 approaches, expectations of the market rallying to new all-time highs are rampant. It is still best, though, to invest responsibly and practice proper risk management due to the volatile nature of cryptocurrencies.
By Audy Castaneda
