The crypto market has been going Up and down very quickly this year. Bitcoin fell from its all-time high of $110,000 to now trading at $84,399. Etherum, the second largest cryptocurrency by market cap, has lost 25% of its value this month alone, the same as most altcoins experiencing a dip.
While this has had an adverse effect on investors’ portfolios and traders’ profits, this bearish period is still the best time to buy the dip, either to HODL for the long term or just to expand your portfolio. This is because there are some cryptocurrencies that deliver 10x or even 20x after they experience a dip.
So if you’re looking to buy the dip but don’t know which crypto to invest in, then you should consider these even higher-potential options that are explained below.
1. Bitcoin (BTC)
Bitcoin is the pioneering cryptocurrency. It is probably the first that comes to your mind whenever you hear the word crypto. It is often referred to as digital gold.
BTC has dipped a lot this month. The drop even seems to be the one influencing the other tokens. But many experts are still bullish on BTC.
Former Binance CEO Changpeng “CZ” Zhao recently predicted that Bitcoin could eventually reach $1 million, citing its fundamental strengths and increasing adoption.
“Waiting for the new headline: Bitcoin ‘CRASHES’ from $1,001,000 to $985,000. Save the tweet,” CZ wrote in a recent tweet.
2. Ethereum (ETH)
Ethereum is a decentralized platform that enables smart contracts and decentralized applications (dApps). In short, it’s a decentralized computer that lets developers build apps (kind of like an app store, but without a central company controlling it.
Ethereum’s value is currently around $2,200, according to data from CoinMarketCap. It took a hit last week when Bybit was hacked of 400,000 ETH worth valued at about $1.5 billion by the famous Lazarus cryptocriminal group.
But still, Ethereum is super important because so many projects like NFTs and DeFi (decentralized finance) apps are built on it. Developers and investors will continue to trust it because it’s a key player in the crypto world.
3. XRP
XRP is the cryptocurrency used on the Ripple network, which is a system designed to make international money transfers faster and a lot cheaper. In short, you can send money using XRP across different countries, and it would be delivered instantly. It only requires a little fee, which is better than the traditional banking system, where you have to wait for some working days and don’t forget about the high transaction charges.
XRP also lost a chunk of its gains due to the crash, almost 19% in 7 days. Right now, XRP is priced at around $2.20.
But its use for real-world transactions in banking and finance would keep it in demand. Moreover, it’s often influenced by Bitcoin, so if BTC goes up, it’s likely to follow as well.
4. Binance Coin (BNB)
BNB is the native token of Binance, one of the largest crypto exchange platforms in the world. It was initially created to provide a lower trading margin on the platform, but it now powers an entire ecosystem that includes NFTs (Non-Fungible Tokens), DeFi (Decentralized Finance), and even payments on the exchange.
Unlike other cryptocurrencies on this list, BNB seems to be the only one holding up well so far. It has only lost 9% since the crash started. Its trading volume is up 14% today to $2.7 billion, which is good.
This means it still has a growing interest among investors and might surge when the next bull run starts
5. Solana (SOL)
Solana is known as the “Ethereum killer” because of its superior ability to offer faster and cheaper transactions compared to Etherum. Some traders and developers prefer it for NFT projects and DeFi applications as a result of its extremely high-speed blockchain technology, which consistently handles over 65,000 transactions every second
Currently, SOL is priced at $98, which is down 30% from its previous high of $140. Its market cap stands at $68.84 billion. Aside from the overall crash, another reason for the drop is the crash of $LIBRA memecoin, a memecoin endorsed by Argentina President Javier Milei.
It was built on Solana and shot up by a massive $5 billion in market cap when it launched, only to dip a few hours after, losing 95% of gains. Despite this, investors are still very much interested in the cryptocurrency.
Popular trader Marcell recently confirmed on X that he’s also buying the dip “while others are fearfu.l”
Moreover, Solana’s ecosystem is still growing, and with the upcoming upgrades, it aims to increase the scalability of the network in time.
6. Dogecoin (DOGE)
Doge initially started out as a joke, but today, it has become one of the most recognized cryptocurrencies, thanks to Elon Musk and its strong community. It is widely used for payment and even fundraising, and Musk has hinted at integrating it with X (formerly Twitter).
Dogecoin popularity as OG memecoin continues to drive users promote in most funny way as possible. A twitter user recently shared dogecoin as a US dollar bill.
Right now, DOGE is sitting at $0.20 after dropping 35% this month. But if history repeats itself, Dogecoin could pump massively in the next bull run.
Moreover, the U.S. Securities and Exchange Commission (SEC) recently acknowledged Grayscale’s applications to launch spot Dogecoin exchange-traded funds (ETFs) with a 240-day review process. The final decision might come in mid-October if everything goes as expected.
This means more institutional investors would be able to invest in DOGE without having to own it directly. This could push the price up.
7. Chainlink (LINK)
Chainlink is the backbone of smart contracts, providing real-world data to blockchain applications.
According to CoinMarketCap, LINK has lost 16% of its gain this week due to the overall market crash. It is currently trading at $14.67 from its weekly high of $18.8. This drop sounds bad, but Chainlink adoption is growing, which is a reason to invest in it.
It has recently been integrated across 12 different services and 14 blockchain networks like Arbitrum, Ethereum, Bitcoin, Optimism, and many more. This means more platforms are choosing Chainlink to power their decentralized applications (dApps). This could lead to a surge soon for Link as it powers the ecosystem.
Final Thoughts
This crypto crash can be very scary, but it’s also an opportunity. As stated earlier, many asset projects have bounced back stronger after a major market dip. These seven cryptos are among the best bets right now.
However, it’s important to do your own research and invest wisely. The market may be down, but if history is any guide, the next bull run could be closer than we think.
Disclaimer: This article is for educational purpose only. This article or its information is not be used as a financial advice. For financial advice seek an licensed expert.
