Should You Buy Altcoins Now? Here’s What The Experts Say

As Bitcoin’s price takes a hit, dropping to the $60,000 demand zone due to increased supply, many investors are asking: is it a good time to buy altcoins? With the altcoin market cap holding steady at $1 trillion, there might be some golden opportunities for savvy crypto enthusiasts.

While institutions remain bullish on Bitcoin, predicting it could reach $100,000 in 2024, a dip below $60,000 could present a chance to snag some high-potential altcoins at bargain prices. Let’s explore two of the best altcoins to invest in right now.

So, which altcoins should you consider?

1. Toncoin (TON): A Rising Star

Toncoin has been on a tear, showing a 19% increase over the past months. Here’s what you need to know:

- Current trend: Bullish, forming a rising wedge pattern

- Key support: 50-day EMA

- Potential targets: $10 (psychological), $13.26 (technical)

- Dip-buying opportunity: Around $6 if it breaks down

Technical indicators like the MACD suggest a continued uptrend is likely. For those wondering about altcoins outperform Bitcoin, TON could be a strong contender.

1. Tron (TRX): Rounding the Bottom

Tron has been making waves with its recent performance:

- Current price: $0.12

- Recent performance: Up 15% in 35 days, 1.16% overnight jump

- Pattern: Bullish breakout from a triangle, forming a rounding bottom

- Next target: $0.14

- Potential dip levels: $0.12 or $0.10

TRX’s positive trend is supported by the MACD and signal lines crossing above zero, indicating strong momentum.

Should I Buy Altcoins or Bitcoin?

While Bitcoin remains the crypto king, altcoins offer potentially higher returns, albeit with increased risk. For beginners looking to diversify, a mix of both could be ideal. Some of the best places to buy altcoins for beginners include established exchanges like Coinbase, Binance, or Kraken.

Best Crypto Under $1

Both TON and TRX fall into the “best crypto under $1” category, making them accessible to a wide range of investors. Their recent performance suggests they could be among the best-performing altcoins in a bear market.

Also Read: Under $1 Crypto Gems: Top 3 Picks Set to Explode in Wealth This Week!

Conclusion:

As always in the crypto world, do your research before investing. While these altcoins show promise, the market remains volatile. A Bitcoin drop could present buying opportunities, but it’s crucial to invest only what you can afford to lose.

Remember, the best altcoins to invest in are often those with strong fundamentals, active development, and real-world use cases. Keep an eye on market trends, and don’t be afraid to take profits when the opportunity arises.