For the past few months, the crypto space has been in the red. Many projects have seen a sharp decline, and others have ended up collapsing completely.
But you should know that this is how it works. Bear markets are where future millionaires are created. If you want to be part of the new wave of millionaires that will be created after this bear market, you need to see this as a profitable opportunity to buy and hold solid crypto-currencies at bargain prices, for the long term - buy low, sell high, as the trading mantra goes.
But, with thousands of projects now active in this market, attempting to find the best crypto to buy during this dip can be challenging.
Perhaps the most effective way to approach the current bear market is to create a diversified portfolio of solid projects, old and new, that stand the best chance possible of staying relevant once the industry recovers.
In this video, we have decided to cover the 4 best crypto to buy during the crash.
Watch this video till the end, so you don't miss anything.
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The first crypto Coins to Buy on the Dip in our opinion is Bitcoin.
Bitcoin is the world’s largest crypto project by market capitalization and without a doubt the most recognized – even by those that have never previously invested in digital assets. Those looking for the best crypto to buy on the dip should consider Bitcoin for long-term value.
In fact, based on the current bear market, investors can build a position in Bitcoin at a huge discount when compared to its previous highs. This occurred in 2021, whereby Bitcoin surpassed a value of $68,000. Since then, Bitcoin has dropped to 2022 lows of sub-$20,000.
The Bitcoin value at the time of this recording is $23 500.
By investing in Bitcoin at these pricing levels, this represents a discount of over 70%. If and when Bitcoin regains its previous heights of $68,000, this would translate into an upside target of more than 240%.
Strong Bitcoin proponents will argue that the medium-to-long term target of Bitcoin is the $100,000 level, so this offers an even more attractive upside potential. Best of all, investors on a budget are not required to purchase a full Bitcoin token.
Instead, Bitcoin can be split into small fractional units, which means that beginners can get started with just a few dollars. Another benefit of buying Bitcoin is that users can deposit their tokens into a crypto savings account to generate a passive income. This can come in handy while the wider crypto markets are bearish.
Another option to consider from our list of the best crypto to buy during the crash is Ethereum: The Market Leader in Smart Contracts.
This digital currency sits just behind Bitcoin in the market capitalization rankings, albeit, just like the rest of this industry, its value has taken a major hit in 2022.
For instance, towards the end of 2021, Ethereum hit an all-time high of nearly $5,000. Since then, Ethereum has hit lows of $900.
This means that in less than three trading quarters, the value of Ethereum has declined by more than 80%. And at the time of this recording, Ethereum is sitting on $1500.
However, once again, we would argue that this offers a superb opportunity to purchase a solid cryptocurrency at a hugely discounted price. After all, should Ethereum eventually get back to the $5,000 level, based on current prices, this would require an upside of over 330%.
Therefore, in terms of price targets, Ethereum is potentially a much better investment prospect than Bitcoin. In terms of the fundamentals, Ethereum is a dominant market leader in the smart contract niche. Its blockchain framework also hosts some of the largest metaverse projects, such as Decentraland and the Sandbox.
In addition to thousands of ERC-20 tokens, notable medium-cap projects built on top of the Ethereum blockchain include DAI and Shiba Inu. Ethereum is also worth considering in the current economic landscape due to its impending upgrade to 2.0. This will result in significantly faster, cheaper, and more scalable transactions.
The next cryptocurrency is BNB.
BNB, formally Binance Coin, is one of the largest digital currencies in this industry for both market capitalization and trading volume. The token, which was launched in 2017, is backed by the world’s biggest cryptocurrency exchange – Binance.
While a growing number of exchanges in this space are experiencing financial issues, Binance has the resources to weather any crypto storm. The platform attracts tens of billions of dollars in trading volume each and every day across its 100+ million clients. The firm is also involved in crypto derivatives, loans, liquidity financing, NFTs, and much more.
In terms of its native BNB token, this was initially created to offer Binance exchange users discounted trading commissions. However, the token is now part of a much broader ecosystem that includes the Binance Smart Chain (BSc).
For those unaware, BSc is an independent blockchain network that supports thousands of up-and-coming tokens. And, most importantly, each and every trade that is carried out on the Binance Smart Chain must be settled in BNB.
Moreover, not only does this create ever-growing demand for BNB, but it generates revenue for Binance via trading fees. Since BNB was launched in 2017, it has gone on to become one of the best-performing digital assets of all time.
Back then, early-bird investors would have been able to buy BNB at a price of just $0.11. Within the prior 52 weeks, BNB has hit all-time highs of nearly$670. This means that in the space of five years, BNB has generated maximum gains of over 608,000%. In other words, an investment of just $10 in 2017 would have seen grown to several million dollars.
While gains of this magnitude are highly unlikely, BNB is still one of the best crypto to buy during this dip. The reason for this is that BNB has since hit 2022 lows of under $250. This means that when compared to its prior highs, users can buy BNB at a discounted price of 70%.
Next up on our list of the best crypto to buy during this dip is Cronos. Otherwise referred to as CRO, Cronos is the native digital token of the Crypto.com ecosystem. Thie platform is one of the largest crypto exchanges in this space for trading volume.
Those with an allocation of CRO will benefit from a wide range of perks when using Crypto.com. For instance, when staking CRO, users will benefit from discounted trading commissions. Moreover, staking CRO attracts a passive income via a fixed rate of interest.
Those using Crypto.com for its interest accounts will get higher APYs when staking CRO. In terms of its performance, CoinMarketCap notes that CRO was initially priced at just $0.017 when it was launched to the public in 2019. Since then, the digital asset has hit highs of over $0.96.
This equates to end-to-end gains of over 5,550%. Those with an interest in Cronos can, however, enter the market at a huge discount when compared to its previous peak. In fact, based on prices as of writing, investors will pay an entry price that is nearly 90% lower than the prior all-time high.
Now, what crypto is most likely to succeed the dip? Let's know in the comments section.
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