As major cryptos stabilize on Tuesday, following substantial market turmoil on Monday amid risk-off flows following Iran’s missile attack against Israel, investors are looking for the best crypto to buy now.
Bitcoin (BTC) was last nudging higher towards $62,000, having come close to testing $60,000 on Monday.
Uncertainty remains high regarding how soon and how Israel will respond and whether this will lead to further escalation of the conflict.
Israeli Prime Minister Benjamin Netanyahu says Iran "made a big mistake" and "will pay" for launching a missile attack on the country https://t.co/sYZ2IZ2NLu
— CNN (@CNN) October 1, 2024
Polymarket puts the chances of an Israeli response before the end of the year at 92%.
But if the situation cools off, the stage is set for a major rebound. After all, it is “uptober,” historically one of the best months of the year for Bitcoin (and the broader market).
If geopolitics don’t spoil the party, the positive macro backdrop of easing global monetary policy could propel the market.
And while most major cryptos remain substantially lower on the week, a few altcoins show bullish Momentum.
While Bitcoin could power towards $100,000 before the year’s end, a 60% rise from current levels, some higher beta altcoins could substantially perform this.
Here are some strong performers on Tuesday that might be the best crypto to buy now amid the market’s recent dip.
Best Crypto to Buy Now Amid Market Dip
Wormhole (W)
Cross-chain crypto asset bridging protocol Wormhole (W) was the best-performing major coin on Tuesday, pumping up 25% in the past 24 hours, according to CoinMarketCap.
The catalyst for the recent pump, which saw W hit its highest level since June above $0.40 before backing off to the $0.37s, is unclear.
But the technicals look very good for W. It snapped its multi-month downtrend in early September and could soon retest resistance at $0.45 and $0.78.
W looks set up to perform well in the coming weeks and could be the best crypto to buy now.
Conflux (CFX)
Innovative layer-1 blockchain protocol Conflux (CFX) is another strong performer, gaining 12% in the past 24 hours per CoinMarketCap.
CFX was last just above $0.18, a strong recovery from Monday’s lows in the mid-$0.15s, and is probing a break above recent highs in the $0.20 area.
The crypto has been in an uptrend since early September and could soon burst through resistance in the $0.19 area.
That could open the door for substantial further gains, making it one of the best cryptos to buy now.
Sui (SUI)
Another innovative layer-1 protocol Sui (SUI) is also one of the strongest performers on Tuesday.
SUI was last just under $1.90, its highest level since early April.
The crypto has been in a strong uptrend since the start of September, gaining 135% in the last month amid rapid ecosystem growth.
SUI’s total value locked (TVL) in smart contracts on its blockchain just surged above $1 billion per DeFi Llama, marking a new record high for the blockchain.
The SUI token, meanwhile, remains below the all-time highs it hit at $2.17 back in March.
So, there is scope for SUI to continue pumping, as it appears somewhat undervalued compared to its ecosystem’s recent expansion.
That’s why it could be one of the best cryptos to buy now amid the current market turmoil.
Alternatively, investors looking for cryptos with strong upside potential might want to check out crypto presales.
High-potential crypto projects often raise funds via presales to power development, offering investors a chance to get in early at a discounted valuation.
Analysts at Cryptonews.com keep a close eye on the presale market. Here are some of their top picks.
16 Best Crypto Presales to Invest In Now
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