Bullish Bets: 3 Cryptos to Buy Before the Next Big Market Swing

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  • These are the top cryptos to buy before the market swing next after Bitcoin’s halving event coincides with Fed rate cuts.
  • Bitcoin (BTC-USD): The obvious pick here as it will likely rally soon due to the halving event.
  • XRP (XRP-USD): Renewed optimism about its case with the SEC is making XRP rally.
  • Nervos Network (CKB-USD): A halving event is due this year.
Cryptos to Buy Before the Market Swing - Bullish Bets: 3 Cryptos to Buy Before the Next Big Market Swing

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Even though a near-term rally seems unlikely, it is a good idea to start identifying and accumulating cryptos to buy before the market swings. If you are into the cryptocurrency market, you likely know that significant bull catalysts are ahead for the crypto space. The first is, of course, the Bitcoin (BTC-USD) halving next year. Additionally, if the Federal Reserve’s projections are proper, rate cuts will overlap with the halving event, thereby boost its impact.

Second, a recession is widely anticipated — but that doesn’t necessarily mean that cryptos and all the indices will tumble with the economy. There is a good possibility of the bottom of the crypto market being behind us. In fact, the banking crisis earlier this year was a bullish catalyst for BTC.

Thus, let’s look at three cryptos to buy before the market swings:

Symbol Company Price
BTC-USD Bitcoin $25,754.70
XRP-USD XRP $0.51
CKB-USD Nervos Network $0.003304

Bitcoin (BTC)

Bitcoin (BTC-USD) on american dollar banknote close up, Marathon Digital (MARA) is a major bitcoin miner. ABIT Stock
Source: FabrikaSimf / Shutterstock.com

Although I usually leave out Bitcoin in many of my crypto articles, as it is an obvious top pick, I believe BTC still deserves a spot in this article. It has performed exceptionally well during the recent bout of economic volatility and has catalysts ahead to propel its value.

As I’ve mentioned before, Bitcoin’s halving will likely coincide with the Fed’s rate cuts. It is also widely believed that there could be a recession during that period, and I don’t see it negatively impacting Bitcoin. Instead, if many banks start collapsing as they’ve done earlier this year, it can cause Bitcoin’s price to rally higher.

Bitcoin has been trading sideways for the past few months, but the current entry point is still compelling in the long run. The price is also unlikely to drop below its previous entry point at ~$17,000, even in the worst-case scenario.

XRP (XRP)

A concept token for XRP with stacks of tokens in the background. XRP price predictions.
Source: Shutterstock

XRP (XRP-USD) has rallied in the past week due to the promising outlook about its (parent company’s) case with the Securities and Exchange Commission. This optimism is driven by major crypto publishers predicting a Ripple victory, with many putting an SEC victory having only a 3% chance.

While Ripple has a good chance of winning, it isn’t guaranteed as many people think. Most crypto publishers rely on Ripple-related individuals as sources, most of whom do not have an extensive law-related background and aren’t neutral. Many XRP bulls would also argue about the Supreme Court’s opinions being favorable to Ripple, but this is a case under a New York court, and I see it going either way.

So why do I think it is one of the top cryptos to buy before the market swing? It’s because, in the worst-case scenario, XRP will still retain its utility if Ripple loses the case. The most I see happening is a few fines and a slap on the wrist, and Ripple would be free to expand its partnerships. XRP is still a decentralized asset, and most of the negative catalysts are already priced in. Thus, Ripple losing the case wouldn’t be the end for the cryptocurrency. Best-case scenario — we are looking at a massive rally.

Nervos Network (CKB)

The logo for the Nervos Network crypto on a trading chart.
Source: Shutterstock

Nervos Network (CKB-USD) is an under-the-radar play this year. The crypto project focuses on blockchain interoperability and making the crypto space more interconnected. I believe it has excellent potential as it combines the best aspects of many of the top blockchains. However, that’s not the only reason why it is among the top cryptos to buy before the market swing.

The Nervos Network will have a halving event around five months from now. Similarly to Bitcoin, mining reward issuance will be cut in half, and I expect CKB to rally after the event. Thus, the current depressed price of the token allows for a very compelling entry point.

On the date of publication, Omor Ibne Ehsan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/06/bullish-bets-3-cryptos-to-buy-before-the-next-big-market-swing/.

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