One day after the Fed initiated a new easing cycle with a 50bps rate cut, optimism about easing liquidity conditions has handed the crypto bulls the upper hand, with investors busily searching for the best crypto to buy now.
Pilot on my flight home just announced the Fed cut rates by 0.50%. Everyone started cheering and the guy next to me said he’s going to buy a rental property in Florida. We are so back!
— Douglas A. Boneparth (@dougboneparth) September 18, 2024
Bitcoin (BTC) is leading the charge, up over 5% in the past 24 hours to the mid-$63,000s.
But other major cryptos are performing just as well, if not better.
Ethereum (ETH) was last up 6.5% in 24 hours and is getting close to a retest of $2,500.
Solana (SOL) and BNB (BNB), meanwhile, both posted gains of 4-9% on the day.
Markets appear to be in the early stages of pricing in a Goldilocks situation where the US economy continues growing at a decent rate. Still, the Fed eases interest rates and financial conditions.
If the US data supports this thesis (i.e., there is no US recession), then the current pro-risk trade could extend for some time.
October is normally a good month for crypto.
Once the US Presidential election uncertainty clears up in November, a “Santa Rally” could occur.
Bitcoin could hit $100k by the end of the year and extend well above in 2025.
For investors new to crypto, it remains a strong candidate for the best crypto to buy now.
But more daring investors may want to consider getting involved in smaller, lesser-known, but high-potential altcoins.
Here are a few strong performers on Thursday that might also be the best crypto to buy now.
Best Crypto to Buy Now – Could These Altcoins Outperform?
Popcat (POPCAT)
The new cat-themed Solana meme coin Popcat (POPCAT) was the best performer among the top 100 cryptos by market cap on Thursday.
According to CoinMarketCap, Popcat has been up 30% in the past 24 hours and has been trading above $0.90.
Popcat is probing for a test of its July record highs.
A break above here could trigger a new surge, with Popcat potentially set to become the next $1 billion meme coin.
Momentum is important in meme coin markets. Popcat already has a lot, but it could be about to get more.
It could be one of the best-performing meme coins in the months ahead, potentially gaining 5-10x.
Undoubtedly, it ranks as one of the best cryptos to buy now and potentially the best meme coin.
Sei (SEI) and Core (CORE)
Elsewhere, layer-1 protocols Sei (SEI) and Core (CORE) are also strong performers, gaining 20% in the past 24 hours.
SEI, last just above $0.33, appears to have broken a long-term downtrend. It could quickly 3x back to yearly highs.
Core, last at $1.10, is in a similar situation, having just broken above a downtrend and its 50DMA.
It could also quickly 4x and return to its yearly highs above $4.0.
Both of these tokens could also rank as the best crypto to buy now.
Better Alternative to Consider?
The above-noted coins could all rank as the best crypto to buy now.
They could all post decent near-term gains and strong longer-term upside.
However, some investors will want to add even more upside potential to their portfolios.
And a good way to do this is to invest in crypto presales.
Presales offer investors the chance to get into high-potential crypto projects early and at a low valuation.
Here are some of the analysts at Cryptonews.com’s top presale picks right now.
17 Best Crypto Presales to Invest In Now
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