Top 5 cryptocurrencies that you can buy right now

Posted on

Any market is cyclical, and the cryptocurrency sector is no exception. Due to increased volatility, Bearish and bullish cycles are particularly different. As part of the next bearish wave, rumors about the “long winter” or even the death of the cryptocurrency regularly appear. Then there is a rebound from below, and the growth of bitcoin/altcoins silences opponents for a while.

Today we are going to analyze the five most promising coins with the potential for multiple growth in the near future. In order not to bite your elbows on the next bullish wave, calculating the lost profits, you need to act right now.

Valery Groom, trader of the World of Trading Online platform, author of a course on cryptocurrency for beginners, explained how to do it.

Why Is Cryptocurrency Now A Great Investment Option?
Let’s briefly look at the reasons for the fall of the crypt as a whole:

● In May, the collapse of LUNA and UST was a shock.

● Tightening of the Fed’s monetary policy, which causes an outflow of investors from risky assets.

● There is no distribution of money by helicopters, as it was during the 2020 pandemic, when a significant part of it was sent to cryptocurrency.

● A certain concern is caused by the level of debt of large companies owning cryptocurrencies.

● On June 13, Binance suspended withdrawals from BTC due to a ”blocked transaction” that mainly affected Bitcoin.

Many used cryptocurrency as an asset to protect money from inflation, and its growth was also facilitated by the ultra-soft policy of the world’s largest regulators. As the key coins fell, a chain reaction began – an increasing number of investors began to get rid of portfolios.

The key point here is that the fall is a temporary phenomenon. The cryptocurrency has already proven its viability and is likely to grow in the future.

To make money, the investor works ahead of the curve. While the cryptocurrency is at a low level, you can and should look for tokens with maximum growth potential. And, most likely, it will not be Bitcoin, but Ethereum. If large coins give x2-x5, then lesser-known altcoins can give x10-x100.

Methodology For Evaluating Altcoins
The simplified analysis looks like this:

● The project itself is evaluated – what it does, what problem it solves.

● The principle of operation is being studied – whether there is an outlier limit, which consensus algorithm is used. It is desirable that an infinite issue is impossible, over time the number of tokens in circulation will decrease, this may affect the exchange rate of the coin.

● The project’s website and social networks are being studied. It is important that developers write so that there is activity on Twitter. South coinsguru.io , you can evaluate the effectiveness of the project, Ethereum serves as its basis.

● Attracted investments are evaluated – this is a kind of filter. If major players invest in this, the project has potential. You can also take into account investments in the project itself, ideally it should invest in other areas.

● Calendar of key events. This information is located on coinmarketcal.com – the more important the news, the better.

● Cryptopanic.com digging through the news archive. We are interested in the frequency, the reaction to them.

● The chart itself is evaluated from the point of view of technical analysis.

Based on this analysis, we will assemble a mini-wallet of 5 altcoins.

NEAR
Arguments in favor of buying a coin:

● It is a decentralized platform on which DAPS can be deployed. The developers promise high throughput, and the key feature of the Near protocol is the Nightshade shading technology.

● The issue is limited, the maximum number of tokens is 1 billion, more than 70% has already been mined. A consensus algorithm appears, “wallet mining” is possible.

● Twitter activity is high.

● There are large investors, a coin base, FTX investing in a close protocol. Developers themselves are actively investing – this is a good sign.

● Developers are moving the project forward, several important events are planned for the summer in the calendar.

● The mirror level in the area of 1.7 is clearly distinguishable. When you test this carrier, you can buy it nearby. Alternatively, you can buy at both the current and average levels with a further decrease in the coin.

Cardano
Highlights of the play:

● Cardano is something like Ethereum “on steroids”, differs from Buterin’s brainchild with high throughput.

● There can be no more than 45 billion tokens, more than 75% of this amount has already been mined, PoS is used.

● Twitter is very active.

● Several major Cardano-related events are planned. In the past, there were many press releases in which this altcoin appeared, almost daily there are messages of this type. Marketing at its best.

● On the chart, we see a mirror level test of about 40 cents per coin. Theoretically, it is possible to increase support to 20 cents per ADA, but this scenario is unlikely. On the contrary, there will be an increase compared to the current levels.

Polygon
Arguments in favor of buying altcoin:

● Polygon is used to develop Ethereum-enabled blockchains, formerly known as the Matic network. ETH remains popular, which contributes to the popularity of Polygon.

● The number of chips is limited. Out of 10 billion, more than 8 billion have already been released, the Pops consensus algorithm is used.

● No comments on Twitter activity. There are large companies among investors, and Polygon also has a good investment portfolio – this is proof that developers are focused on long-term work.