YEREVAN (CoinChapter.com) – The cryptocurrency market has suffered heavy losses year-to-date.
Some digital assets declined more than others. However, bear markets could bring profitable entry points even in a bear market. What is the best crypto to buy now? Here are five digital assets to keep in mind:
#1 Bitcoin (BTC) never gets old
Bitcoin (BTC) crossed the $20,500 threshold for the first time since Sep 14, albeit without confidence, and stood at $20,640 on Oct 26. However, it should be no surprise that Bitcoin is a good investment in the current bear market as the leading digital asset.
Whales and institutional investors are accumulating the flagship crypto, giving us mortals hope for a price appreciation in the near future.
Even if the alpha crypto falls more, it will likely recover first, throwing a lifeline to the altcoin market. According to Arcane research, Bitcoin’s volatility is at a 6-year low. Moreover, BTC is currently steadier than Nasdaq and S&P 500. Thus, the pioneer digital asset is the first in line for investor funds.
Also read: Shocking! Bitcoin Hashrate Hits Record High Despite Skyrocketing Energy Costs and Depressive BTC Price.
#2 XRP could be the best crypto to buy now
XRP, the money transfer token launched by Ripple Labs, could double investor funds in 2023, as CoinChapter reported earlier. In addition, Ripple’s expansion and the development of EVM (Ethereum virtual machine) compatibility testify to a possible price appreciation.
The ongoing lawsuit with the Securities and Exchange Commission hindered the digital asset’s bullish ambitions. However, experts believe that the court proceeding could be over by Q2 2023, which makes XRP a prime investment candidate.
XRP printed bullish technicals that hint at a 200% upward move in the upcoming year.
#3 Polygon (MATIC) for the win?
MATIC traded at $0.96 in Wednesday’s European session after closing the previous day above a significant support-turned-resistance line.
As CoinChapter reported in the previous Polygon review, the token traded above the 76.4% Fib retracement level of the downward move from the $0.9403 swing high to the $0.691 swing low. The price action suggested high chances of a steady move above the $0.95 resistance.
Additionally, several DeFi platforms on the blockchain outperformed competitors and enjoyed double-digit increases in total value locked (TVL). The heightened on-chain activity makes MATIC the best crypto to buy now, considering the bearish market.
#4 Dogecoin (DOGE) on Elon Musk’s heels
Dogecoin (DOGE) is notorious for volatile price swings. However, it outperformed the top 10 cryptos by market cap in the previous month, coming second to XRP, which posted a 39% monthly increase. Meanwhile, DOGE traded at $0.068 on Oct 26, after a 13% jump in the previous 24 hours.
Admittedly, the price increase was partially due to the hype around Elon Musk and his Twitter deal. However, if the hype continues, as it typically does with the eccentric billionaire, Dogecoin investors might reap the benefits.
#5 Toncoin (TON) the underdog; best crypto to buy now?
Despite being the ‘youngest’ entry on the list, Toncoin (TON) made its way into the top 30 cryptos by market cap. Additionally, TON traded at $1.8 on Oct 26, after a 47% weekly increase against the bearish digital asset sector.
Admittedly, the token could not break the resistance at $1.9 earlier today. However, the bullish incentive could continue, given Bitcoin’s possible recovery. Moreover, its underdog status makes TON the best crypto to buy now.
