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7 Best Crypto to Buy During the Bear Market

Connor Brooke
Last updated: | 15 min read
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
best crypto to buy in bear market

The financial markets are inherently cyclical, meaning that vast peaks tend to be followed by deep troughs. This is no different in the crypto market, as although many coins have risen to prominence over the last few years, the past ten months have seen most of these coins lose massive amounts of their value. 

However, even though crypto is going through a ‘bear market’, there are still opportunities. With that in mind, this article discusses the best crypto to buy during the bear market by highlighting seven coins with positive value potential before presenting an overview of how investors can find high-potential cryptos in today’s challenging market environment.

The 7 Best Crypto to Buy During the Bear Market

Finding the cryptos with the most potential during a bear market can be challenging, as many (if not all) will have experienced significant value decreases. However, it’s also important to note that this can provide a limited-time opportunity to invest in these cryptos at a discount before any rebound occurs. 

With that in mind, presented below is a list of the best crypto to buy during this dip, all of which have exceptional potential for the year ahead:

  1. Smog (SMOG) – New meme coin listed straight on decentralized exchanges. Up by 13,500%.
  2. Sponge V2 – New token version of a popular meme coin. Soared by 100x in 2023. 
  3. Bitcoin Minetrix (BTCMTX) – Stake-to-mine crypto has raised over $12 million. 
  4. Tamadoge (TAMA) – Popular new meme cryptocurrency, offers P2E gaming modes. 
  5. Binance Coin (BNB) – Native token of the Binance exchange, $90 billion market cap. 
  6. Ethereum (ETH) – #2 cryptocurrency in the world. Used to deploy smart contracts. 
  7. Polygon (MATIC) – Useful token with rebound potential during the bear market.

Reviewing the Best Cryptos to Invest in During the Bear Market

Now let’s take a more in-depth look at the best crypto to invest in during the bear market, diving into the use cases, roadmaps, and price potential of the projects listed above: 

1. Smog – Trending Meme Token Launched Straight to DEX, Offers 42% Staking Rewards

The next crypto to buy during the market crash is Smog ($SMOG). This new meme coin conducted its fair launch in February 2024, listing straight on the Jupiter decentralized exchange. 

After listing for an initial price of $0.001419 per token, $SMOG is now trading at the $0.1937 level. This indicates a whopping price increase of more than 13,550%. While the token originally launched with a $2 million market cap, Smog now boasts a fully diluted market cap of over $260 million. 

Smog homepage

Meme tokens such as Smog could prove worthy investments even during market crashes. Notably, the $SMOG token can be staked on the smart contract – which generated APYs of 42%. 

Furthermore, Smog wants to conduct one of the greatest airdrop campaigns on the Solana blockchain. From its total supply of 1.4 billion, 490 million tokens will be offered through airdrops. Interested readers can register for the airdrop campaign with Zealy. 

You can earn airdrop points by completing daily, weekly, and monthly challenges. Some tasks include following Smog on Twitter and Telegram. Another 50% of the token supply will be used for marketing purposes. 

Since many meme coins, such as Dogecoin and Shiba Inu rely on viral marketing to stay relevant, Smog wants to focus on building a global community of investors. 

For more information on this coin, read the Smog whitepaper

Visit Smog

2. Sponge V2 – New Token Version of a Popular Meme Coin, Get 176% Staking APYs

The bear market can turn opportunity-rich if investors decide prudently what to buy and which ones to leave. One selection method that always pays off well is judging the token by the value it has managed to add over its course of stay in the public domain.

Sponge V2 has done well in that regard, and that is why it is our #1 pick for the best crypto to buy during the bear market.

Sponge V2 Home Page

Appearing as a sequel to the $100 million market cap token Sponge V1, V2 has added multiple utilities, including a P2E game that helps earn more tokens in-game. In bringing Sponge V2, the platform has bridged from V1 to V2 by launching a new ERC-20 token. 

Sponge V1 had done well in the 2023 bear market. It had made itself available on more than 10 well-known exchanges and managed to garner 13,000 holders and 30,000 social followers within a few days of launch. Sponge V2 raises the expectations a notch higher by becoming available in a bear market, with fine-tuned tokenomics where more than 51% of the total token supply is earmarked for rewards for stakers and P2E participants. 

Learn more about Sponge V2 by looking into its whitepaper, and for timely updates, follow the project on Telegram and Twitter.

Presale Started Underway
Purchase Methods  ETH, USDT, and Card
Chain Ethereum
Min Investment None
Max Investment None

 

3. Bitcoin Minetrix – Stake-to-Mine Crypto with High APY Rewards, Raised Over $12 Million

Bitcoin Minetrix ($BTCMTX) is a disruptive addition to cloud mining, offering the world’s first “Stake-to-Mine” model.

It’s a unique alternative to traditional cloud mining, offering early buyers a simplified, transparent, and high upside opportunity during the bear market.The project has caught investor attention by raising over $12 million since launch. Currently, $BTCMTX is priced at $0.014 per token.

Bitcoin Minetrix plans to release a total supply of 4 billion tokens, with 70% (2.8 billion) allocated for the presale. The remaining tokens will be used for rewards, liquidity, and other ecosystem activities.

Unlike traditional cloud mining, where you buy cash contracts, Bitcoin Minetrix has a more flexible “Stake-to-Mine” model. Users stake $BTCMTX tokens to receive non-tradable ‘mining credits,’ which can be used to acquire Bitcoin mining power. 

Per the Bitcoin Minetrix whitepaper, these credits offer a more direct link between staking and earning, breaking the entry barriers surrounding cloud mining.

The platform offers an integrated dashboard, simplifying the process for beginners and experienced users. Investors can keep tabs on their earnings, staking balance, and mining credits all in one place, either on desktop or mobile.

Bitcoin Minetrix presale

Staking rewards are calculated per Ethereum block and are proportional to the individual’s share in the staking pool. Currently, the platform offers a dynamic APY of over 57%. Over 700 million tokens have been staked within the first week, showing strong community trust.

The project has also undergone a third-party smart contract audit. There are no locked-in contracts, enabling users to un-stake and sell their $BTCMTX tokens freely. 

In addition to financial benefits, Bitcoin Minetrix provides an eco-friendly mining solution, standing out from traditional energy-consuming methods.

You can follow Bitcoin Minetrix on X or join their Telegram group for updates.

Presale Started 26 Sept 2023
Purchase Methods  ETH, USDT, BNB
Chain Ethereum
Min Investment $10
Max Investment None

 

4. Tamadoge  – New Meme Coin Project Trading at a Discount

Tamadoge is the ideal crypto to invest in during the Black Friday crypto bear market since this token has amassed a cult following over the past few months. 

For those unaware, Tamadoge sold out its presale phase in record time and raised a staggering $19m worth of USDT.

Tamadoge crypto project

Since concluding its presale, Tamadoge has gone from strength to strength and is now listed on major exchanges like MEXC, OKX, LBank, Gate.io, and Uniswap. Although the price of TAMA has been affected by the ‘crypto winter’, tokens have soared by 61% in recent weeks, hinting that another bull run could be on the cards.

Tamadoge has also emerged as one of the top utility NFT projects, with investors able to buy the project’s NFTs on OpenSea. The Tamadoge collection contains 21,100 NFTs, each with its own rarity level, and will allow holders to access the upcoming ‘Tamaverse’. 

NFT holders will even receive a ‘Tamadoge Puppy’ airdrop once the Tamaverse is launched, along with access to the project’s new arcade games. 

While the price of TAMA has retraced in the wake of the FTX collapse, the coin looks primed to pump when market conditions improve.

The token is deflationary and will cut supply once the main Tamadoge game is released, with 5% of every transaction in the pet store being burned.

That main game – plus two further mini-games – will be released in 2023, while an augmented reality app is set for release at the end of 2023.

Buy TAMA on OKX

5. Binance Coin – Volatile Utility Token with Long-Term Potential

Binance Coin (BNB) has emerged as one of the top coins to buy during the bear market following the sudden collapse of the FTX exchange. Although it’s currently one of the most volatile cryptos, BNB has exceptional potential due to Binance’s newfound domination of the cryptocurrency market.

The crypto market bear market contributed to FTX’s collapse, meaning Binance is now the ‘go-to’ for most investors. According to CoinMarketCap, Binance regularly handles over $15bn in daily trading volume. Since BNB is used to pay trading fees, there’s a high likelihood that token demand will continue to increase.

Binance Coin price chart

Moreover, since BNB is tied to the Binance exchange, the token has become a popular way for investors to gain exposure to Binance’s growth. BNB holders can even deposit their tokens in the ‘BNB Vault’ to generate a yield – adding another valuable long-term use case for investors.

6. Ethereum – Smart Contracts Crypto to Buy During the Bear Market

Ethereum needs no introduction, as this cryptocurrency remains the second-largest in the world behind Bitcoin. Although it’s not necessarily the fastest-growing cryptocurrency, Ethereum is a project with exceptional long-term potential due to its relation to the NFT and DeFi sectors.

Moreover, there’s a case to be made that ETH tokens are trading at a discount during the Black Friday crypto bear market. At the time of writing, ETH is valued at around $1,612, which is significantly lower than November 2021’s all-time highs.

ETH to USD price chart

Looking ahead, Ethereum’s transition to a proof-of-stake (PoS) consensus protocol could play a vital role in the blockchain regaining its stature. Ethereum now requires over 99% less energy than before, making it one of the most eco-friendly crypto projects on our list.

7. Polygon – Useful Token with Rebound Potential During the Bear Market

Rounding off our discussion of the best crypto to buy during this dip is Polygon. Polygon is a Layer-2 blockchain designed to work alongside the Ethereum network, making it faster and cheaper for developers.

Due to Polygon’s critical use case, the project has been able to partner with an array of leading brands. These brands include Meta Platforms, Starbucks, and JPMorgan Chase – with the former two choosing Polygon to power their ventures into the NFT space.

Polygon to USD price chart

Although many believe Polygon may not be required in the future, as Ethereum is expected to continue improving its scalability, this has yet to prove to be the case. MATIC, the network’s native token, has surged by over 180% since mid-2022 – highlighting that Polygon still has exceptional backing.

Are We in a Bear Market Now?

Now that we’ve discussed the best crypto to invest in during the bear market, let’s look closely at the market forces themselves. It’s important to note that there’s no clear definition of what a crypto bear market actually is – although some analysts define it as a 20% (or more) decrease in the market’s value over at least two months.

So are we in a bear market now and is cryptocurrency still a good investment? According to CoinMarketCap, the crypto market currently has a market cap of $837bn. At the beginning of the year, the market was valued at $2.1trn. Thus, at the time of writing, the cryptocurrency market has lost around 60% of its value over the past eleven months.

total cryptocurrency market cap
Data gathered from CoinMarketCap.com

Judging by this value decrease, many believe it’s safe to say that a bear market is ongoing. Another telltale sign is that most (if not all) coins have experienced substantial price falls. For example, Bitcoin’s price is down by 64% for the year, whilst Ethereum’s value has fallen by 66%.

Considering these are the two largest coins in the crypto market, it’s clear that sentiment is negative on the whole. Finally, other financial markets, such as the equities and commodities markets, are also experiencing similar downturns – highlighting the far-reaching nature of the bearish momentum.

What Causes a Crypto Bear Market?

Before deciding what crypto to buy during the bear market, it’s essential to understand the forces that cause the bearish momentum. There can be many factors that contribute to a pricing downturn, which include: 

  • Geopolitical crises (e.g. the war in Ukraine)
  • Rising interest rates
  • A slowdown in economic growth
  • Sudden adverse events (e.g. the collapse of FTX)
  • Public health issues (e.g. the COVID-19 pandemic) 

Unfortunately for crypto investors, all of the above factors have combined to create the perfect environment for a bear market to take hold. When these factors are present, it creates a ‘risk-off’ atmosphere for investors, leading them to shy away from risky asset classes like crypto.

It may also prompt investors to liquidate their crypto holdings, which causes downward price pressure. However, even amid all the negativity, there are still some cryptos to buy during the crash that offer a ray of light for these investors. 

When Will the Bear Market End?

According to Forbes, the average equity bear market lasts 289 days. Although this can’t be directly related to the cryptocurrency market, it highlights that these downturns aren’t fleeting – they can last for months, if not years.

Previous crypto bear markets, such as the ones in 2012 and 2016, have lasted for up to 300 days. There was also a bear market during the COVID-19 crash, although prices rebounded extremely fast in this instance. Unfortunately, this isn’t the case with current market conditions.

BTC to USD price chart

Moreover, a recent article from Bloomberg pointed out that the stock and crypto markets are becoming increasingly correlated. Due to this, there’s scope for the crypto bear market to end around the same time as the equity bear market. Although there’s no telling when this might be, this fact gives investors something to look out for. 

Should You Invest During a Bear Market?

Finding the next cryptocurrency to explode can be tricky – especially in a bear market. Furthermore, many investors avoid buying new coins entirely due to the overwhelming volatility. But is it still possible to invest during a bear market?

Put simply – yes. It goes without saying that investing during a bear market is much more challenging than during favorable market conditions since coin prices can fluctuate seemingly at random. Moreover, volume can also be lowered since more people are choosing to place their money in ‘safe haven’ assets like gold, which can mean bid/ask spreads are wider. However, is cryptocurrency safe?

price charts and Bitcoin

Regardless, bear markets allow those with a higher risk tolerance to invest in crypto-assets at a discounted price. Many of the coins that have experienced value decreases haven’t had any negative news emanating directly from them. This is important, as it highlights their depreciation is more to do with the economic conditions than the project itself. 

For this reason, investing in a bear market can be a limited-time opportunity to obtain coins and tokens at a low price. Although there’s no guarantee these assets will recover to their previous highs, those that do will provide incredible returns to risk-seeking investors.

How to Find Cryptos to Buy in the Bear Market

Those who do decide to invest during a bear market must know what to look for. Bearing that in mind, detailed below are three ways investors can identify cryptos during a downturn:

Use Technical Analysis to Identify Support

A popular approach for finding the best long-term crypto projects is to employ technical analysis. This involves analyzing an asset’s historical price movements to try and identify where the price could go in the future.

A common tactic is determining a coin or token’s ‘support level’, a specific price point that has historically propped the price up. When an asset has a support level, it indicates a lot of buying pressure around that price point – making it a high-probability rebound area.

Be Aware of Trending Cryptos on Social Media

Many of the best cryptos to buy on Reddit are ideal for bear markets since they have the most extensive community backing. Although this may not mean they can provide market-beating returns, these cryptos can often withstand adverse conditions more effectively.

CryptoCurrency Reddit

Look for Projects with a Unique Selling Point (USP)

Finally, traders and investors should also seek out cryptos that offer use cases they cannot find elsewhere. Since these cryptos are ‘unique’, they’ll likely have a core group of users that continue to require them, regardless of market conditions.

Best Crypto to Buy During the Bear Market – Conclusion

To conclude, this article has taken an in-depth look at the best crypto to invest in now or during a dip by highlighting seven projects with exceptional long-term potential. 

At the forefront is Green Bitcoin ($GBTC) – a green cryptocurrency that offers high staking yields and daily price prediction bonuses. Green Bitcoin is 10,000 times more sustainable than Bitcoin, as it adopts the proof-of-stake consensus. In fact, investors can earn daily rewards by forecasting the price of Bitcoin. 

Currently, $GBTC, the native token, is available to purchase on presale. 

Visit Green Bitcoin

FAQs

Can you make money in a crypto bear market?

Yes – although a crypto bear market is dominated by downward momentum, this can often mean that high-potential cryptocurrencies are trading at a discount.

How do you spot a crypto bear market?

There is no clear definition of a bear market, although some analysts state that it occurs when the overall market has a value decline of over 20% within two or more months.

How long is a crypto bear market?

There is no set timeframe for a crypto bear market to last, with previous down markets lasting between two to four years. However, today’s market is very different from previous markets, so there’s no telling how long this downtrend will go on.

Are we still in a bear market?

Most crypto analysts believe that the bear market is still ongoing since there hasn’t been any sustained upwards momentum recently. Once the majority of coins begin rebounding, that will signify that the bear market may have ended.

 

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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