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Market performance has dipped, with overall capitalization and trading recording significant declines. This outcome suggests that investors are bracing for the impending Bitcoin Halving.
Nonetheless, shrewd traders are seizing the opportunity to buy into the market downturn, anticipating substantial gains in the upcoming bull cycle. InsideBitcoins provides valuable perspectives by identifying several notable altcoins worthy of investor consideration.
5 Best Altcoins to Invest in Right Now
Investors focus on tokens like Bitget Token, Immutable, and Nervos Network, viewing them as attractive investment prospects as they anticipate the next bullish market cycle. This surge in interest is bolstering investor confidence, leading them to reevaluate and fine-tune their investment portfolios.
Simultaneously, Bitcoin Minetrix has garnered significant market attention, raising over $12.8 million in funding during its presale phase. Meanwhile, Bitcoin maintains its position at $65,000, while ARK’s Bitcoin ETF experiences $87 million in outflows.
1. Bitget Token (BGB)
The current market trend has seen a decline in trading volume and market, causing Bitcoin to dip by 6%. Despite this, Bitget’s platform token, BGB, has showcased remarkable resilience, defying the downtrend prevalent to print a 3% intraday increase. Bitget Token trades at 184.78% above the 200-day Simple Moving Average (SMA), pegged at $0.458521, indicating its bullish trend. Nonetheless, the Fear & Greed Index has reduced to 70, aligning with the broader market decline.
Meanwhile, Bitget has initiated three consecutive Launchpool promotions featuring ZK, DOPE, and ENA. Participants can stake BGB or USDT to earn corresponding token rewards, with the added advantage of instantly redeeming both BGB and USDT. This recent news seems to have contributed to the token’s ability to ride the current market situation.
Need a ride to the top? 📈
Buckle up as $BGB accelerates to $1.38!🏎️✨#BitgetBlue pic.twitter.com/cXn173c4Hy
— Bitget (@bitgetglobal) April 4, 2024
BGB has observed 18/30 days of its price closing with green candle sticks, marking a notable 60% positivity rate. Furthermore, Bitget Token has exhibited substantial growth, with a remarkable 217% surge in the last year. Over the same period, BGB outperformed 70% of the top 100 crypto assets, surpassing the performance of Bitcoin and Ethereum.
In light of these developments, analysts anticipate an upward trajectory for BGB as Bitget Exchange expands its footprint. The next key target for Bitget Token is projected to be $2.20, offering potential gains within a shorter timeframe.
2. Immutable (IMX)
Immutable is a pioneer layer-two scaling solution for NFTs on Ethereum, seeking to address limitations such as low scalability and poor user experience. With its blockchain, users can enjoy instant trading and significant scalability. In addition, transactions like minting and trading NFTs with zero gas fees while ensuring security.
Immutable’s mainnet launch in January met fanfare, resulting in a price rally. However, the IMX market movement has shown a 30% decline in the last 30 days. Nonetheless, with the introduction of Blastroyale’s Plague Doctor on Immutable zkEVM, experts are looking at a possible resurgence as the sentiment remains bullish.
This presents a window for investors to buy the dip for future returns. In the interim, Immutable X trades at $2.77, marking a 0.38% intraday rally. Additionally, it’s trading 205.54% above the 200-day SMA, currently at $0.907224, indicating a positive trajectory.
The @blastroyale Plague Doctor is officially live on Immutable zkEVM, powered by @0xPolygon, and on @MeritCircle_IO’s Sphere!
Experience Blast Royale directly through Immutable Passport and join the 500K users engaging in over 5M matches.
— Immutable (@Immutable) April 2, 2024
Over the past year, Immutable X has witnessed a remarkable price increase of 151%. Moreover, it has demonstrated positive performance compared to its token sale price. Despite recent market fluctuations, Immutable X remains an intriguing project with its innovative approach to NFT scalability on Ethereum.
3. Nervos Network (CKB)
Nervos Network has been on a steady positive momentum since its launch. In light of this, CKB has printed an impressive 278% on a YTD. Over this period, it outperformed 78% of the top 100 digital assets, including Bitcoin and Ethereum. In today’s intraday session, CKB’s price has surged by 2.98%, hitting $0.018080. In addition, it has surpassed its 200-day simple moving average by 145.72%.
With growing adoption and a dedicated community of supporters, Nervos Network holds promising potential for further growth. Hence, analysts predict that if the project unveils collaborations with other networks, CKB’s could hit $0.0156 by 2024.
Did some say what's RGB++?
Here's a great article published by @WuBlockchain highlighting the development of the bitcoin layer2 ecosystem at hand.
You may have come across Ordinals and Inscriptions taking over, but what about Client-side Validation Contracts?If you have…
— Nervos.bit (@NervosNetwork) April 1, 2024
In a bullish market scenario, the average price of Nervos Network Coin is anticipated to stabilize around $0.0141 by the same year. Therefore, investors keen on the best altcoins should closely monitor Nervos Network’s developments, as its trajectory hints at significant opportunities for future gains.
4. Bitcoin Minetrix (BTCMTX)
Miners have been grappling with challenges in the Bitcoin cloud mining sector. Scams and unreliable operators have questioned its legitimacy as a viable investment option. However, Bitcoin Minetrix is revolutionizing this landscape with its groundbreaking Stake-to-Mine mechanism.
Only 2 days left until Stage 35 of #BitcoinMinetrix concludes! 🕒
How do you think cloud mining services could improve in the future? 🌟 pic.twitter.com/qHYtF8rqxH
— Bitcoinminetrix (@bitcoinminetrix) April 3, 2024
Powered by smart contracts on the Ethereum network, this innovative approach allows users to stake and burn tokens to earn mining hash power. It addresses the shortcomings of traditional cloud mining while enhancing security and efficiency. The project has gained significant market attention, raising over $12.8 million during its current presale phase.
With a total stake of 762,997,224 BTCMTX tokens, Bitcoin Minetrix offers an estimated annual rewards rate of 55%. Presently, rewards are set at 158.5 per ETH block. As Stage 35 of Bitcoin Minetrix’s presale enters its final phase, investors have a one-day window before the price increase. This presents a strategic opportunity to capitalize on the current token price of $0.0144 before the anticipated rise.
Investors looking for a reliable and innovative approach to cloud mining should consider Bitcoin Minetrix and its Stake-to-Mine mechanism. With its impressive fundraising and promising rewards structure, the project aims to improve the cloud mining sector.
Visit Bitcoin Minetrix Presale
5. Bitcoin Cash (BCH)
In the early hours of April 4, 2024, Bitcoin Cash underwent its highly anticipated halving event, slashing miner rewards from 6.25 BCH to 3.125 BCH. This adjustment aims to recalibrate the cryptocurrency’s supply dynamics. Following the halving, Bitcoin Cash’s network immediately reflected the change, with the asset’s market performance taking center stage.
Currently trading near $678, BCH surged by 11% in just a few hours, defying prevailing negative market sentiments. Over the past week, Bitcoin Cash has seen a substantial 21% increase, with an impressive 47% surge over the last 30 days. Therefore, technical experts closely monitor BCH’s bullish trajectory. Recent breakthroughs above significant resistance zones near $487 and a bullish weekly candle closure signal potential gains.
However, analysts anticipate a consolidation as BCH approaches its historical peak of $729, a formidable resistance level. Nonetheless, if Bitcoin Cash breaches this level, expectations are high for a substantial uptrend, potentially ushering in significant gains for investors.
Bitcoin Cash’s halving event has not only adjusted its supply dynamics but also ignited a bullish sentiment within the market. Hence, investors closely monitor BCH’s performance, and technical indicators favor further upside momentum.
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