With the current bear market in the cryptocurrency market, people may ask, “What is the best cryptocurrency to buy?”, “Best time of day to buy cryptocurrency”, from the best crypto exchange CoinW, we can know that there are still many cryptocurrencies worth buying, and the market will usher in a bull market one day.
The best time of day to buy cryptocurrency
As we all know, any cryptocurrency is usually very unstable. This has its advantages and disadvantages. It sees some people become millionaires, while others lose nothing. You may want to know: What is the secret? Well, it’s no longer a secret. The trick is to know the right time to buy cryptocurrency. With cryptocurrencies, everything is changing. If you want to buy on time, this is a problem. However, for now, the best time to buy this month is coming to an end. The value tends to rise in the first 10 days of the month, and then plummet in the second half of the month (probably because people sell after rising). At present, the best time to buy cryptocurrency is at the end of the month. Cryptocurrency prices tend to rise in the first few weeks of the month, then collapse, and continue to fall before the end of the month.
What are the best cryptocurrency to buy?
With a market value of over 846 billion dollars, Bitcoin is the first choice of bear market buyers and the most secure cryptocurrency. As the largest and most famous cryptocurrency, it has the least volatility and is most likely to reach a new high. Bitcoin is the backbone of the entire cryptocurrency industry, so it is a reliable choice for anyone who believes in the long-term potential of the cryptocurrency market. In addition, Bitcoin has great institutional interests. If spot ETFs are approved in the United States, Bitcoin may recover significantly. In each previous bear market, Bitcoin will fall to the high point of the previous bull market, and then rebound to a new high in the next bear market. For example, the price of Bitcoin was about $1000 at the beginning of 2017, $20000 at the end of the bull market, fell back to $3000 in the next bear market, and then soared to $60000 in 2021, down more than 50% from the historical high. As long as Bitcoin is associated with the entire cryptocurrency market, it will be considered the most secure and powerful investment in the industry.
The market value of Ethereum has exceeded 361 billion US dollars, making it the highest potential and lowest risk cryptocurrency among all cryptocurrencies so far. The Ethereum blockchain is currently the king of the smart contract platform, with a total value of more than 51 billion dollars on the chain, accounting for 59% of the smart contract market share. In addition, Ethereum will start to merge in a few months, and the time zone chain will change from workload proof to equity proof. This will not only reduce the energy consumption of Ethereum blockchain by 99.97%, but also make ETH a deflationary currency with a yield of 4-6%. This supply contraction, as well as the ability to obtain high returns, should help raise the price of ETH to an unprecedented level in the next bull market.
Even with the merger of Ethereum and the supply of deflation, it still has problems related to congestion and high costs, which will make it unable to give full play to its potential. There are some solutions that will help expand Ethereum. These solutions will be released in the next few years, but users now need low costs and high transaction throughput. To this end, the Polygon platform and its native MATIC tokens provide a solution.
One of the undeniable trends of blockchain is the growth of smart contracts and decentralized applications. Smart contracts allow for a variety of revolutionary innovations, such as decentralized exchanges and many other financial instruments. Most of the time, smart contracts refer to data that cannot be obtained on the blockchain, such as asset prices, for more accuracy and security. However, without an oracle solution like Chainlink, it is impossible to access real world data. Almost every smart contract on the relevant smart contract blockchain needs to use a LINK token to pay for these data every time it gets data from the real world. This means that Chainlink is the closest bet to the popularity of smart contracts in the future. In addition, the pledge function of LINK should be launched before the end of this year, which will promote more demand for LINK tokens.
Why do many people buy cryptocurrency in the bear market?
It is well known that cryptocurrencies can be saved, used and consumed without banks. Your cryptocurrency (coins and tokens) is stored and managed by you, independent of any banking institution. Unlike your bank account, you are solely responsible for managing your encrypted assets and all transaction (sending and receiving) security issues. Of course, it is also an important factor to buy low and earn more than the difference.
Despite the spread of the bear market, there are still some cryptocurrencies and projects with a sound future, which may survive and reach a record high. When this happens, investors who buy now will get high returns. Through the data on CoinW, we can find that Bitcoin, Ethereum, Polygon (MATIC) and Chainlink (LINK) are still the most suitable cryptocurrencies for purchase.