Best Crypto to Buy Today May 8 – Ethereum Classic, Tron, Kaspa

Joel Frank

Last updated:

May 8, 2024 17:30 EDT

| 4 min read

With various cryptocurrencies exhibiting significant movements, Ethereum Classic, Tron and Kaspa have recently sparked investor interest due to their price action and recent developments, leading some analysts to tout them as the best crypto to buy now.

As blue-chip cryptocurrencies trade with a bearish bias on Wednesday, Bitcoin (BTC) is sliding back to $ 62,000 after it found resistance at its 50DMA earlier this week. With a stagnant market outlook for larger cap coins, traders are parsing through the altcoins markets to look for the best crypto to buy today that might deliver a quick upside.

At current levels around $62,500, Bitcoin is down close to 5% from its Monday high of $65,500.

The cryptocurrency is still up over 10% compared to last week’s lows, however.

Short-term macro headwinds eased last week following weaker-than-expected US jobs data, easing fears about an overly hawkish Fed.

Spot Bitcoin ETF inflows also returned, though they have since petered out once again.

The near-term Bitcoin price outlook looks very much tilted to consolidation within recent ranges.

With Fed rate cuts still some way off and ETF flows not providing much momentum, Bitcoin lacks short-term price narratives.

Consolidation in the coming months would fit Bitcoin’s typical 4-6 months post-halving and summer seasonality.

That said, Bitcoin’s long-term outlook is as strong as ever.

The blockchain’s hash rate, or computing power, has strengthened four-fold since Bitcoin was at its current price level in 2021.

If Bitcoin can nudge back above its 50DMA in the coming weeks, that could be a buy signal, according to an analysis by Bitcoin Archive, which calls it a “mega-bullish” occasion.

With Bitcoin on course to challenge $100,000 this year or next, it’s potentially the best crypto to buy today.

But for investors looking for a bigger upside than Bitcoin’s potential 2x, altcoins might be more attractive.

Here are some of Wednesday’s top-performing altcoins that might be the best crypto to buy today.

Best Crypto to Buy Today.

Ethereum Classic (ETC).

Ethereum Classic (ETC), the token of the original, non-forked Ethereum blockchain, is outperforming its sister on Wednesday.

It was last up 5% in 24 hours, as per CoinMarketCap,...

https://cryptonews.com/news/best-cryp...

#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #bestcrypto #bestcryptonews #bestcryptonewstoday #bitcoin #bitcoinnews #bitcoinnewstoday #btc #btcnews #crypto
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!

This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.

bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple