Best Crypto to Buy Now March 19 –Fantom, Celestia, Stacks
As Bitcoin (BTC) stages a rebound from the earlier session’s multi-week lows in the $62,000s, investors are hunting for the best crypto to buy today to take advantage of the market’s most recent dip.
Having dropped as low as $62,200, Bitcoin was last trading just above $65,000. That leaves it still about 12% down versus last week’s record highs near $74,000.
For bulls who believe Bitcoin remains in a bull market, the current price drop could present an attractive buying opportunity.
While the Fed meeting on could pressure crypto prices further if the central bank’s rhetoric forces markets to further pull back on interest rate cut expectations, Bitcoin has a lot of positive fundamental catalysts working in its favor right now.
Yes, spot Bitcoin ETF flows were net negative on Monday thanks to huge GBTC outflows.
UPDATE (3/18)
Bitcoin ETF Net Out Flows -2.3K #BTC
New 9 ETFs + 7.3K BTC
Total Bitcoin Held in ETFs 833.8K BTC
Highlights
Blackrock + 6.7K #BTC
GBTC -9.6K #BTC
Follow our ETF tracker for live updates pic.twitter.com/BmHx4rdGwd
— Thomas | heyapollo.com (@thomas_fahrer) March 19, 2024
But that is likely to be a one-off, or at least uncommon occurrence as Wall Street continues to scramble for BTC exposure.
Meanwhile, the halving in April is set to cut in half Bitcoin’s inflation rate, reducing miner sell pressure.
Halving events have historically preceded big run-ups in the Bitcoin price to fresh record highs.
For the first time in its history, Bitcoin hit fresh all-time/cycle highs ahead of the halving, thanks to ETF flows.
So perhaps the latest pullback shouldn’t be a surprise. But it does suggest that the next run higher could be an explosive one.
All said, it remains very likely that Bitcoin will hit $100,000 in 2024. For
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