Optimism about easing liquidity conditions has handed the crypto bulls the upper hand, with investors actively seeking the best crypto to buy now following the Fed's 50bps rate cut. bitcoin (BTC) has surged over 5% in the past 24 hours, reaching the mid-$63,000s, while ethereum (ETH) has seen a 6.5% spike, edging closer to $2,500. Solana (SOL) and binance coin (BNB) have also posted gains of 4-9%.
It appears that markets are beginning to factor in a Goldilocks scenario where the US economy continues to grow steadily, while the Fed eases interest rates and financial conditions. If US data confirms this trend, the pro-risk trade could persist for a while. Historically, October has been a favorable month for crypto, and after the US Presidential election uncertainty clears up in November, a potential "Santa Rally" could take place.
bitcoin's Outlook and Potential
There is speculation that bitcoin could hit $100k by the end of the year and continue climbing in 2025. For new investors in the crypto space, bitcoin remains a strong option. However, for those willing to take more risks, exploring smaller altcoins with high potential might be worth considering.
Best crypto to Buy Now – Could These Altcoins Outperform?
The new cat-themed Solana meme coin Popcat (POPCAT) emerged as the top performer among the top 100 cryptos by market cap on Thursday, with a 30% surge in the past 24 hours. Currently trading above $0.90, Popcat is eyeing a retest of its July record highs, potentially becoming the next $1 billion meme coin with significant momentum.
In addition, layer-1 protocols Sei (SEI) and Core (CORE) have also displayed strong performance, gaining 20% in the past 24 hours. SEI, hovering just above $0.33, seems to have broken a long-term downtrend and could triple back to yearly highs. Core, priced at $1.10, shares a similar bullish sentiment as it breaks above a downtrend and its 50-day moving average, potentially quadrupling back to yearly highs above $4.0.
Better Alternative to Consider?
While the aforementioned coins offer promising opportunities, some investors may seek even higher potential by participating in crypto presales. These presales provide early access to high-potential projects at a lower valuation. Analyzing Cryptonews.com's top presale picks can offer insightful opportunities for investors looking to diversify their portfolios with strong long-term growth potential.
