There are many reasons to invest in cryptocurrency at current prices, despite news of another round of interest rate increases.
First, the largest stake holders in the market do not sell their holdings. Data shows that Bitcoin whales not only hold, but are also adding to their positions.
Data also shows that there is a lot of Bitcoin purchasing around the $20k mark. This indicates that investors are optimistic about a possible rebound. This is why it makes sense to invest in high-quality cryptocurrency, as they are more likely to perform well once the market turns around.
Are you curious about which cryptocurrencies can meet this criteria? We have compiled a list of the top cryptocurrencies that you can buy, even though they could be trading at the bottom.
When Ripple shares good news, XRP (XRP), tends to perform well. The negatives can also cause XRP to suffer, which is why XRP has been underperforming since Ripple was sued by SEC. There are some signs that Ripple is still trusted by the finance industry, and that the case may be close to its conclusion.
Ripple has been landing more partnerships, particularly in Asia. Ripple is now partnering with FOMO Pay, one the most prominent financial institutions in Singapore.
FOMO Pay is a project to increase its transactional liquidity by Ripple’s On-Demand liquidity. XRP is an integral component of this system and it’s a viable cryptocurrency that you can buy right now.
Cardano (ADA), has seen a significant decline in value since December 2022, when the cryptocurrency bear market began. Cardano’s online metrics suggest that the cryptocurrency may be on the verge of a turnaround. Data from Santiment, one the most important cryptocurrency data providers, indicates that Cardano has a high average funding rate. This could indicate a possible rally for Cardano.
According to Santiment there has been a significant increase in the number ADA longs that have been liquidated. If past examples are any indication, Cardano could be in a buy position at current price. It is easy to see how ADA could position itself for a rally, with Bitcoin holding steady and bouncing off of key support.
If the markets continue to show bullish signs, Elon Musk’s favorite meme currency has great potential. Dogecoin (DOGE), aside from the hype it gets from Musk, has a lot going for them that could lead to its value rising in the coming year.
Technology upgrades are one of these. They aim to make DOGE more useful as a daily payment currency. Dogecoin’s latest move was to migrate to a new core (v.14.6). If there is a market rally by 2022, this upgrade and others in the Dogecoin ecosystem could drive Dogecoin’s prices higher.