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As leading cryptocurrencies continued their upward trend on Tuesday in anticipation of the US Presidential debate, investors are exploring altcoin markets in search of the most promising crypto to purchase at this time.
Bitcoin (BTC) was recently up approximately 1.0% over the last 24 hours, trading in the mid-$57,000s, marking an increase of nearly 10% from last week’s lows in the mid-$52,000 range.
Ethereum (ETH), Solana (SOL), BNB (BNB), and several other significant altcoins also experienced gains during the same timeframe, according to data from CoinMarketCap.
Crypto advocates are optimistic that Republican Presidential candidate Donald Trump will deliver a strong performance in tonight’s debate.
Presidential debate tonight, huge day for annoying people
— BASED SAVAGE (@crackcobain__) September 10, 2024
This is due to his recent strong support for cryptocurrency, while the Democrats are often linked with anti-crypto stances.
On Wednesday, the US Consumer Price Index (CPI) inflation report is anticipated to indicate a continued easing of price pressures.
Headline CPI is set for a ‘low’ +0.2% M/M reading.
– We expect rental inflation to play a particularly significant role.
– ~32bp of Fed cuts are priced for this month, ~110bp of cuts are priced through December.
– Get briefed via the @MNIMarketNews previewhttps://t.co/YVfTxN4RLD pic.twitter.com/aGHhoeScy4
— Anthony Barton (@ABartonMacro) September 10, 2024
https://t.co/YVfTxN4RLD pic.twitter.com/aGHhoeScy4These two factors could serve as catalysts for BTC to rise above $60,000 and test its 50-day moving average.
However, investors aiming for quick profits might find better opportunities in smaller, lesser-known altcoins exhibiting strong momentum.
Here are some options for the best crypto to consider purchasing now.
Could These Altcoins Be the Best Crypto to Buy Now?
The decentralized computing network Internet Computer (ICP) has risen 12% in the last 24 hours, according to CoinMarketCap.
ICP, currently in the $8.0s, broke through its 50-day moving average on Tuesday and approached its late August highs near $9.0.
Notably, the recent price increase has allowed ICP to escape a downtrend that persisted since March.
A retest of the support-turned-resistance around $11, followed by the yearly highs above $20, could be on the horizon.
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The potential for a rapid 2x rally suggests ICP might be the best crypto to acquire at this moment.
Artificial Intelligence Alliance (FET) is another contender for the best crypto to buy today.
FET was recently up just under 9.5% in the $1.33 range, with the ASI hinting at an upcoming announcement on X.
— Artificial Superintelligence Alliance (@ASI_Alliance) September 10, 2024
The technical indicators for FET are also looking promising. FET recently rebounded from its 50-day moving average, following a recent breakout above a downtrend from the May highs.
A swift rally of more than 2x back to March highs in the $3.5 range could be possible.
The final altcoin demonstrating strong performance on today’s list is Bitcoin SV (BSV), a fork of the original Bitcoin blockchain from 2018.
BSV was last reported up 9% in 24 hours at $50.59, according to CoinMarketCap.
BSV is making significant strides toward retesting the upper boundary of its multi-month range of $32.70-$56.5.
A breakout above this level could pave the way for a retest of yearly highs exceeding $120.
With BSV also having the potential for a 2x increase, it stands as another strong candidate for the best crypto to buy now.
Analysts seeking the best crypto to buy now may also want to explore opportunities in crypto presales.
Presales enable investors to enter high-potential crypto projects early at significantly discounted valuations.
They carry higher risks compared to the previously mentioned coins, but they also offer much greater appreciation potential.
Analysts at Cryptonews.com are closely monitoring the presale market, and here are some of their top selections at present.
19 Best Crypto Presales to Invest In Now
The post Best Crypto to Buy Now September 10 – ICP, FET, BSV appeared first on Cryptonews.
