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Best Crypto Poker

Best Crypto to Buy Now June 7 – Brett, Injective, JasmyCoin

Joel Frank
Last updated: | 3 min read
Best Crypto to Buy Now June 13 – Livepeer, Notcoin, Toncoin
Best Crypto to Buy Now June 13 – Livepeer, Notcoin, Toncoin / Source: Cryptonews

As major crypto prices pull back from earlier weekly highs in wake of hotter-than-expected US jobs data, traders are taking the opportunity to assess which might be the best crypto to buy right now.

Bitcoin (BTC), Ethereum (ETH), BNB (BNB) and Solana (SOL) were down 1.5-3% over the past 24 hours, as per CoinMarketCap.

BTC was last probing for a break back below $70,000. ETH, meanwhile, was in the mid-$3,700s, while BNB fell back under $700 and SOL was trading in the mid-$160s.

The US economy added 272,000 jobs in May, more than the 180,000 expected. Meanwhile, wage growth jumped to 4.1% YoY, above the expected 3.9%.

Those hot headline figures were enough to trigger fears that the Fed might wait longer to start cutting interest rates.

US 10-year yields jumped up 14bps to above 4.4% as a result, weighing on risk assets like stocks and crypto.

That said, the unemployment rate rose to 4.0%, above the expected 3.9%, suggesting the labor market is still easing.

As per analysts at Bloomberg cited by X account ZeroHedge, “the higher unemployment rate… should keep September interest rate cut squarely on the table”.

As the crypto price dip deepens, trader may look to scoop up their favorite coins at discount prices.

Indeed, with talk growing of a near-term breakout to fresh all-time highs, Bitcoin could be the best crypto buy now.

Is Bitcoin the Best Crypto to Buy Now?

Prior to the release of US jobs data, 10x Research predicted that Bitcoin could soon push to $83,000.

Their reasons – the formation of a bullish head-and-shoulders pattern, plus the start of a global central bank easing cycle.

The BoC, ECB and Denmark all cut interest rates this week, and US rate cuts are likely coming after summer.

Earlier this week, Standard Chartered predicted that Bitcoin could surge above $100,000 later this year. That scenario assumes that ex-US President Donald Trump wins the election, which is looking likely.

Its feasible that within the next year, Bitcoin could 2x from its current price near $69,000. That could easily make it the best crypto to buy now.

But some investors will be hunting more than 2x gains. They will likely turn to smaller and lesser-known altcoins which have a much higher beta.

That is to say, they can see much larger price moves in either direction.

Here are some strong-performing altcoins on Friday that traders will be monitoring.

Ordinals (ORDI)

The token of Bitcoin native protocol Ordinals (ORDI) hit fresh multi-month highs on Friday above $65.

It has since pulled back under $60, but remains higher by over 3% in the past 24 hours, per CoinMarketCap.

If ORDI can close above $59, that would confirm a breakout above a downtrend from the March highs.

That could mean a return to near-$100 levels soon is on the cards. The prospect of quick 60% gains means ORDI could be the best crypto to buy now.

As ORDI teases a quick 60% pump, could it be the best crypto to buy now.
As ORDI teases a quick 60% pump, could it be the best crypto to buy now. Source: TradingView

With a market cap of only around $1.24 billion, ORDI has a lot of room for growth this bull market.

JasmyCoin (JASMY)

The native token of decentralized internet-of-things protocol JasmyCoin (JASMY) is also up 3% in 24 hours, as per CoinMarketCap.

Since breaking out above key resistance at $0.025, JASMY has help onto strong bullish momentum.

It hit fresh cycle highs above $0.044 on Friday. But according to CoinMarketCap, its still down around 98% from its record highs.

While getting back to record highs might be unlikely, 5x gains are very possible this bull market. JASMY is thus one of the best coins to buy now.

Alternative Investment Strategy to Consider – Presales

If traders can reliably identify altcoin gems, they can make a lot of money.

But the over-looked strategy of investing in presales can potentially net even higher gains if done correctly.

Web3 projects/protocols often sell their native tokens at a discount to early investors to fund development.

If investors can reliably identify projects that, thanks to their strong vision, use case and competent team, end up gaining traction in the market, they can make big profits.

Knowing where to start is one of the biggest barriers to entry in the daunting presale market.

That’s why Cryptonews put together a list of their top picks.

15 Best Crypto Presales to Invest In

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.