Best Crypto to Buy Now August 28 – THORChain, dYdX, Bitcoin SV
Since reaching a high of nearly $69,000 in November 2021, Bitcoin has experienced a massive pricess drop, marking the cryptocurrency's most prolonged bear market so far.
The world's largest cryptocurrency by market cap has remained in a bearish state for almost 490 days, a fact emphasized by Michaël van de Poppe in a post on the platform X, previously known as Twitter.
Given Bitcoin's ongoing consolidation and uncertain path, what are the best cryptos to buy now?
Today, the price of Bitcoin is down by more than 50% from its historical high, underscoring the volatility and hardships the cryptocurrency sector has experienced in recent times.
Poppe made comparisons between the present market conditions and those of 2015, which also saw a period of stability, even as confidence in cryptocurrencies waned, though the sector displayed consistent fundamental growth.
Poppe also shared thoughts for those who are navigating their first intense bear market. He mentioned that these tough times present a learning curve for investors.
"And just because it hurts, you’ll learn. You’ll keep moving forward and you’ll identify new opportunities and experiences you’ll be using later in the cycle or the next cycle,” Poppe observed.
Several recent events could have served as positive indicators for Bitcoin's value, yet they seem to have minimal impact on its current price.
For instance, global governments and traditional institutional investors have shown increased interest in Bitcoin.
BlackRock, among other institutions, applied to introduce Bitcoin exchange-traded funds (ETFs) earlier this year.
Additionally, the first BTC ETF was recently launched in Europe. The Sultanate of Oman revealed its investment strategy for Bitcoin mining infrastructure,
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