Is this crypto selloff the worst day we’ve seen market-wise? As the crypto crash rocks markets, what’s the best layer 1 to buy the dip?
When Terra Luna collapsed, it was pretty bad, and people genuinely believed crypto was dead. The March 2020 COVID crash was even more horrendous, but this current crash isn’t that far off; it’s probably half as bad.
You also have to keep in mind that the COVID-19 crash also bounced back really quickly due to the Fed printing money at an insane level.
What makes this current market bad is that we’ve hit a recession or are close to one. There’s no money printing coming to save the day. So, if you have to invest in something right now, we want to give you some good options.
If the fear hasn’t scared you off the long-term value of crypto, here’s what you should consider.
5 Coins to Buy During the Crypto Selloff
The COVID crash was a black swan event, and what we’re seeing now is actual market death.
It doesn’t mean the death of everything, but many of the coins in the crypto space, as well as the AI and tech sectors, needed a cleanout.
When the intel CEO posts scripture, you know things are bad.
Two of the layer 1s you should consider during this crypto selloff are Solana (SOL) and Avalanche (AVAX).
SOL has been getting a lot of hype. If they can fix their downtime issues, they might be a strong contender. Moreover, compared to Ethereum, Solana is cheaper, faster, and easier to use, with better UI and UX.
As for AVAX, it is also fast and scalable, with arguably one of the best teams of developers behind it. Definitely has moon potential.
Here are three more layer 1s to check out during the crypto selloff:
- Cardano (ADA) could moon if they finally deliver on their promises.
- Polkadot (DOT) interoperability, or blockchains working together, is gonna be huge in the next bull run, but the price action of DOT makes me sick; ostensibly this changes.
- Bitcoin (BTC) even more so than Ethereum, BTC is the coin everyone should hold in their portfolios. What’s happening now is the perfect opportunity to become a whole-coiner – a veritable firesale.
DISCOVER: The Best 17 Altcoins to Buy During August Crypto Market Dip
Will Bitcoin Reach 100k This Year After This Crypto Selloff?
Are we hitting 2008 levels of f*cked, or are we just having turmoil that will fix itself within the next three weeks?
Give it 3 months at most. We’ll dump quite a bit more.
August and September are awful months for crypto; it’s obvious that $73k was the top.
When I interviewed Brandon Green, Chief of Staff for BTC Nashville, I asked him which we’d see first: $50k or $100k Bitcoin. He said, “$100k, no doubt.”
Well, now there’s not only doubt but confirmation of $50k. I’m wondering if we also see $40k?
EXPLORE: 15 Best Anonymous Bitcoin Wallets with no KYC in 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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