Best Crypto to Buy Now 11 May – Pepe Coin, Bitget Token, Cosmos
Bitcoin has dipped below the $27,500 mark, effectively neutralizing the gains previously sparked by U.S. inflation data.
This trend has been developing over the last month, ever since Bitcoin peaked above $30,600 in mid-April.
Given the ongoing bearish market trend, what are the best cryptos to buy now?
Data collated by Santiment suggests a decrease in social media discussions around top crypto assets, including Bitcoin, which saw an 18% drop.
It's no surprise then that over the past month, Bitcoin's price has fallen by 7.57%, and Ether's by 3.95%, with similar decreases observed among other top-10 assets on CoinGecko.
This marks one of the most significant 30-day declines since June 2022, amid changing macroeconomic conditions and interest rate hikes by the US Federal Reserve.
When traders were surveyed by Santiment regarding whether they believed crypto markets had peaked in April, nearly 44% of respondents believed they had, indicating a lack of confidence in further price increases.
Despite the price drop, a bullish divergence has been noted in Bitcoin's whale accumulation chart.
Bitcoin's large wallet holders, often referred to as whales, have acquired 0.29% of the Bitcoin supply from April 10 to May 10.
This increase in holdings amidst falling prices suggests that these large-scale investors anticipate a rebound.
With the next halving nearly 50 weeks away and Bitcoin typically experiencing an uptick in price as the halving approaches, long-term investors may still anticipate a resurgence of the cryptocurrency in the coming months.
Despite the recent market slump, several cryptocurrencies may still be good potential investment prospects.
Considering their strong fundamentals and/or positive technical analysis, AI, PEPE, SPONGE,
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