Best Crypto to Buy Now June 20 – Ethereum, Fetch.ai, SingularityNET
As major cryptocurrencies flatline within weekly ranges, with Bitcoin (BTC) last just below $65,000 and Ethereum (ETH) last changing hands just above $3,500, both flat in the past 24 hours, traders are hunting for the best crypto to buy now for quick gains.
On Thursday, Bitcoin found strong resistance at its 50DMA in the mid-$66,000s, suggesting the bears are in control right now and risks are tilted towards a retest of $60,000.
Bitcoin has strong narratives going for it. Fed rate cuts are likely to come later this year, US Presidential elections tend to be a crypto tailwind, and tailwinds from lower supply growth in the wake of the halving are also likely to come in as 2024 draws to an end.
That follows the approval of spot Bitcoin ETFs in the US earlier this year. Betting on long-term BTC price downside right now is very risky.
But a technical-selling-driven drop to $60,000 is certainly on the cards. So, Bitcoin might not be the best for those wanting quick gains.
Is Ethereum the Best Crypto to Buy Now?
Ethereum might be a better bet. ETH has been holding nicely above its 50DMA in the $3,400s ahead of US spot Ethereum ETF launches in July.
At least, that’s when the SEC is expected to give them the green light. A sudden influx of demand for ETH could vault it back to record highs.
The SEC continues to ease its anti-Ethereum stance. The latest major development is that it has ended its investigation into Ethereum 2.0.
ETHEREUM SURVIVES THE SEC.
Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0.
This means that the SEC…
— Consensys (@Consensys) June 19, 2024
The narrative is there for a major Ethereum catch-up trade. Since investors can accumulate ETH in the $3,500s right now, it might be the best crypto to buy now.
Fetch.ai (FET) & SingularityNET (AGIX)
Another major narrative now is AI, as Nvidia becomes the biggest publicly traded company in the world by market cap.
According to CoinMarketCap, popular crypto AI coins Fetch.ai (FET) and SingularityNET (AGIX) have increased by roughly 20% in the past 24 hours.
Fetch.ai is a decentralized machine learning platform and SingularityNET is a decentralized AI services marketplace.
The two platforms, plus another AI protocol called Ocean Protocol, are set to merge on July 15.
The new token will be called the Artificial Superintelligence Alliance (ASI).
The hype surrounding the protocol’s potential could launch these AI coins much higher from here.
FET and AGIX both recently fell below their 200DMAs at $1.58 and $0.69.
But 2x gains could be in store if these tokens can recover back to recent highs. That could rank these AI coins as amongst the best crypto to buy today.
Alternative AI Coin to Consider – New Meme Coin Wiener AI (WAI)
With AI set to be a major theme in this crypto bull market, AI meme coins could soon pick up.
Analysts at Cryptonews keep a close eye on the market for new meme coins. One they are big fans of is a fun new AI meme coin called Wiener AI (WAI).
Here’s why Cryptonews.com thinks Wiener AI has big potential.
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.
