The crypto market has slowed significantly over the past week and digital assets in the space are suffering. However, while times like this can be daunting for investors, they also present a unique opportunity to enter the market at low and favorable prices before the next step. Thus, here are the top 5 coins to accumulate before the next bull market.
Bitcoin (BTC) is a no-brainer when it comes to cryptocurrencies to accumulate while waiting for a bullish rally. Indeed, the asset is most often the one driving the rallies of the rest of the market. As a result, Bitcoin will almost certainly move ahead of the rest of the market.
Moreover, it is the biggest cryptocurrency in the market. As the most trusted of all digital assets, it’s the safest option, especially for those not looking to take too much risk with altcoins. Bitcoin has already proven its ability to recover time and time again, and this time is no different.
Being the second largest cryptocurrency in the space and the leading altcoin has earned Ethereum its respect. It is an altcoin that has managed to outperform Bitcoin year over year and attract the decentralized finance (DeFi) and non-fungible token (NFT) markets.
For Ethereum, as long as Bitcoin moves, it is almost guaranteed to 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 sometimes manages to fly 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 than the pioneering cryptocurrency.
However, one thing that makes Litecoin a good buy right now is the fact that its halving is almost here. Just like it is with BTC, the LTC halving is very bullish for the cryptocurrency. Scheduled for early August, this is a catalyst that could potentially push the price of the digital asset above $120 very quickly.
Dogecoin is on this list due to Elon Musk’s affinity for the meme coin. Now, for many, it’s a piece of no use. However, the crypto market has repeatedly proven that for the majority of investors, it is less about utility and more about the possibility of profit.
DOGE was able to perform better than many of its larger counterparts thanks to support from Musk to move the price to different price points and this time around is no different. For Elon Musk’s favorite cryptocurrency, investors can expect more upside for this coin, and even better movement when the bull market begins.
Binance’s native cryptocurrency has been one of the best performers on the market. It went from double digits at the start of the last bull run to over $700 at the top. Expectations remain the same for the next bull market as BNB is expected to break above $1,000 this time around.
Binance’s planned quarterly burns of the token also work in its favor and as the crypto exchange removes the tokens from circulation every three months, the value of the coin increases. This makes it a good choice to hold the next bullish rally.
The crypto market
Currently, the crypto market is still trading sideways and has shown no signs of moving up or down. However, as the next Bitcoin halving nears in 2024, expectations of a market reaching new all-time highs are widespread.
Nonetheless, it is still important to invest responsibly and practice proper risk management due to the volatile nature of cryptocurrencies. In this way, the possibility of profit is not eliminated but the possibility of loss is well managed.
Market Cap Still Holds Above $1 Trillion | Source: Total Crypto Market Cap on TradingView.com