Best Crypto to Buy Now October 16 – Dogecoin, Litecoin, Bitcoin SV
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
Crypto bulls are maintaining control of the US trading session on Wednesday, prompting investors to consider which cryptocurrencies are the best to buy now.
Bitcoin (BTC) hit its highest level since late July earlier today, trading in the mid-$68,000s with a gain of around 1.5%, according to CoinMarketCap.
Markets are rallying as pro-crypto candidate Donald Trump becomes the leading contender in the upcoming November US election.
This, combined with the Fed’s new interest rate easing cycle and potential delayed post-BTC halving tailwinds, positions Bitcoin to challenge record highs soon.
For new investors, Bitcoin remains a strong candidate as one of the best cryptos to buy now due to its robust near-term upside potential.
However, seasoned investors may look towards higher-beta altcoins for greater returns. Below are top-performing cryptocurrencies that could be among the best to buy right now.
Dogecoin (DOGE), the first and largest meme coin, is leading the market with a near 10% gain, according to CoinMarketCap.
DOGE has surged back into the $0.12 range, eyeing a retest of late September highs and its 200-day moving average around $0.13.
Dogecoin is showing strong breakout potential, with trading volumes surpassing $2.1 billion, the highest since August 5, according to Yahoo Finance.
Coinglass data shows that Dogecoin’s open interest surged to nearly $800 million, the highest since June.
With funding rates above 0.010%, this surge indicates a disproportionately long market position.
Dogecoin could be on the verge of roaring
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