The crypto market has experienced an upbeat mood with a strong rebound in major coins such as Bitcoin, Ethereum, and Solana. Investors are now considering the best crypto to buy if a significant rally is expected in the second half of October. Bitcoin rallied 3.6% in the past 24 hours, returning to the $62,000 range after a brief dip below $59,000. Positive catalysts, including a one-year delay in Mt. Gox repayments and hopes for fresh stimulus in China, are driving this rally.
As the November 5 US Presidential election approaches, pro-crypto/DeFi Republican nominee Donald Trump has taken a lead in the betting odds over Democrat Kamala Harris. This anticipation of a pro-crypto Trump presidency could serve as a strong tailwind for the crypto market. Additionally, the Federal Reserve easing financial conditions and the historical pattern of bull markets going into overdrive six months after Bitcoin halvings are positive indicators for a rally.
While Bitcoin remains a strong candidate for the best crypto to buy now, seasoned investors with a substantial BTC bag may seek higher beta plays in smaller and lesser-known altcoins. In this regard, some strong performers that could be the best crypto to buy now include Ethena (ENA), Mog Coin (MOG), and dogwifhat (WIF). ENA, an innovative yield-bearing algorithmic stablecoin protocol, has recently launched a new US government debt-backed stablecoin and is showing strong technical analysis signals.
MOG, an Ethereum meme coin, has seen significant gains and is likely to continue its upward trend. Additionally, WIF, a Solana-based meme coin, is testing key resistance levels and could see a near-term breakout. These altcoins have the potential for significant gains, with WIF and MOG possibly posting 5x gains from their current levels. Investors looking for even higher upside potential may consider newer and smaller meme coins before they start trending.
It is essential to note that crypto is a high-risk asset class, and investing in it carries the risk of losing all capital. This article is provided for informational purposes and does not constitute investment advice. Cryptonews is constantly on the lookout for the next potential meme coin plays and lists their favorite meme coin presales that they believe have sound potential. With over a decade of crypto coverage, Cryptonews is a trusted source for authoritative insights in the dynamic world of digital assets.
