As Bitcoin (BTC) holds firm to the north of the $70,000 level amid reports in the Chinese media that President Xi Jinping has directed the PBoC to restart bond purchases for the first time in decades, investors are scouring altcoin markets as they hunt for the best crypto to buy today.
This is the biggest story out there today
Circulating in Chinese media today, the PBOC being instructed by Xi to restart treasury bond purchases
QE with Chinese characteristics
Month end noise distracting but this potentially huge #btc
China set to flood liquidity https://t.co/eIeBamiENy
— LondonCryptoClub (@LDNCryptoClub) March 28, 2024
China’s shift towards quantitative easing (QE) comes at a time when most other major global central banks are also on the brink of easing. The Fed, ECB, and BoE are all expected to deliver rate cuts this year.
The easing of financial conditions has historically been a big positive for crypto prices. That’s largely because easier financial conditions boost risk appetite among investors, benefitting riskier asset classes like stocks and crypto.
Quarter-end choppiness as traders square expiring options positions could rock the boat this week.
But Bitcoin price risks are firmly tilted to the upside amid macro tailwinds ahead of the halving.
Both of these themes, plus Bitcoin’s strong Q1 performance, could encourage more traditional investors to add to their BTC exposure via spot Bitcoin ETF purchases.
Further ETF inflows could add another tailwind to the BTC market in Q2, as was the case in Q1.
Bitcoin looks set to hit $100,000 this year. That could mean an easy 40-50% upside from current levels.
Retail only comes back after Bitcoin breaks $100k.
Then the bull run really begins
— Dan Held (@danheld) March 26, 2024
For any investors new to crypto, Bitcoin is certainly the best crypto to buy today. After all, it’s the oldest and most trusted crypto, with by far the most adoption. It’s also the best-performing asset of all time.
Some investors with high risk-reward appetites will be targeting larger than 40-50% gains this year, however.
Those looking for gains in the region of 5-10x will need to find gems in the altcoin market.
Here are some of Thursday’s top-performing altcoin names that could be the best crypto to buy today.
Best Crypto to Buy Today
Dogwifhat (WIF)
After nearly two weeks of consolidation, Dogwifhat (WIF) just broke out to fresh record highs above $3.50.
Having pumped nearly 30% today to close to $3.90, WIF is closing in on $4 per token. That would take its market cap to $4 billion.
That is still around eight times smaller than Dogecoin, the leading meme coin crypto. WIF could easily still post 5x gains in this bull market.
That’s why WIF ranks as potentially the best crypto to buy today.
Dogecoin (DOGE)
Speaking of Dogecoin, the crypto industry’s leading meme coin is also up on Thursday.
Dogecoin (DOGE) was last trading around $0.22, up 18% today and at its highest since December 2021.
That still leaves it 70% down versus its 2021 record highs in the $0.70s. Indeed, many think a possible integration into a future X payments system could propel DOGE above $1.
Dogecoin could still go 5x from here, making it one of the best cryptos to buy today.
Core (CORE)
Layer-1 blockchain protocol Core (CORE) is pumping on Thursday, whose blockchain is secured through a combination of delegated Bitcoin’s mining hash and delegated Proof-of-Stake (DPoS).
As per CoinMarketCap, it was last up more than 15% in 24 hours. That has propelled its market cap to above $1 billion and into the top 100 cryptos by market value.
Whether the blockchain will experience much adoption is anyone’s guess. But at a still modest valuation of only $1 billion, there is plenty of room for upside.
CORE could easily be the best crypto to buy today.
New Crypto ICO Alternatives to Consider
Investing in smaller, lesser-known altcoins is a great way of making a quick crypto profit.
However, investors looking to up their risk profile shouldn’t neglect another highly profitable strategy – investing in new crypto ICOs.
Up-and-coming web3 start-ups often look to raise funds in their infancy via the sale of their native protocol token.
These sales are almost always conducted at a steep discount to the project’s potential. For example, most presales will sell their token at a price that gives them a market cap of $10-30 million.
Successful projects can easily become billion-dollar market-cap cryptos. Presale investors thus often target projects with 10-50x potential.
Of course, investing in new crypto ICOs comes with many of the same risks as traditional start-up investing. The success of a project relies heavily upon the competency of management and execution.
With so many new crypto ICOs to choose from, getting started can be a daunting task.
Luckily, the experienced team at Cryptonews has already done a lot of digging.
Here are 14 of their favorite projects:
See the 14 Cryptocurrencies
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