Best Crypto To Buy The Dip As Tom Lee Predicts Bitcoin Will Still Hit $200k This Year

Crypto prices have crashed to start the week, with the Bitcoin price falling to $105,300 and altcoins faring much worse. 

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CoinGlass data suggests that $1.2 billion in leveraged positions have been liquidated over the past 24 hours, with longs comprising about $1.09 billion of the total.

The broader sentiment has turned distinctly bearish, with a growing concern among investors that the bull market is over. However, experts do not agree with this pessimistic outlook. 

Legendary Wall Street investor and Chairman of Ethereum treasury firm BitMine, Tom Lee, has reiterated his bullish stance. In a new interview with CNBC, Lee predicts that the Bitcoin price will hit $150,000, or even $200,000, by year-end. 

Moreover, he is backing the Ethereum price to hit $7000 by December. As if to put his money where his mouth is, BitMine has purchased another $306 million worth of ETH on Tuesday, bringing its total holdings to 3.4 million ETH, worth $12.39 billion. 

One of the top Wall Street experts is clearly anticipating another crypto bull run. Unsurprisingly, smart money investors are taking advantage of the latest crash to accumulate the best cryptos to buy now. 

Why is Crypto Crashing Today and When Will The Bull Market Start?

The broader macroeconomic outlook continues to create selling pressure on risk assets. 

Investors are still concerned over a potential liquidity crisis in the US financial markets, even as the Federal Reserve is poised to end its Quantitative Tightening on December 1st. 

The ongoing US government shutdown, which has halted activity in the Treasury General Account, is adding further strain to the market’s liquidity plumbing.

However, experts remain confident that the current liquidity stress will not escalate into a full-blown crisis. The US Federal Reserve is expected to keep lowering its federal funds rate and quietly expand its balance sheet, even without a formal QE announcement. 

Meanwhile, the reopening of the US government is expected to do the rest by releasing fresh liquidity into the system.

In fact, many popular analysts and influencers like Rekt Fencer, who has over 330k X followers, believe that the bottom is already in. 

Best Cryptos To Buy Now

In this article, we list the 5 best cryptos to buy in the dip for the next bull market rally, including two large-caps, two low-caps and one mid-cap privacy coin. 

Bitcoin (BTC)

The top cryptocurrency also continues to be among the best cryptos to buy now. 

Despite the recent market downturn, Bitcoin has continued to impress investors with its remarkable resilience. Even with the liquidity crisis, the US-China trade war and concerns regarding a potential recession, BTC is still trading above $107,000. 

There continues to be a strong institutional demand for Bitcoin. For instance, the BTC held by institutions, ETFs, and treasury companies increased by 4.5% over the past 30 days, even as the price fell. 

It is not without reason that Tom Lee is backing the Bitcoin price to hit $150,000, and even $200,000 this year. 

Notably, a successful retest of the 50-week Simple Moving Average, which is currently at $101,000, would be an excellent entry point for sidelined investors. This has been the key support level throughout this bull cycle. 

Ethereum (ETH)

Tom Lee’s track record with crypto predictions has been remarkably accurate, making it a smart move to follow his lead as BitMine continues to accumulate Ethereum at a rapid pace.

In fact, BitMine Immersion now holds 2.8% of the total ETH supply, more than halfway to Tom Lee’s target of 5%. 

Notably, Lee continues to predict that the Ethereum price will hit $7000. Even more conservative analysts like Into The Cryptoverse’s Benjamin Cowen have hinted at the possibility of $7k as well. 

Ideally, the bulls would hope for a bullish reversal from the lower trendline of its multi-week descending wedge. However, ETH could potentially also bottom at $3,500, which has been a key support level in the weekly timeframe. 

Bitcoin Hyper (HYPER)

Bitcoin Hyper (HYPER), one of the best low-cap cryptos on the market, is in high demand among whales. 

It is the newest BTC layer-2 coin, designed to make Bitcoin programmable, scalable and performant. It could soon emerge as a hub for new DeFi apps and protocols that are looking to enter the Bitcoin ecosystem, which is bullish for HYPER in the long term. 

Layer-2 coins are back in the spotlight, as evidenced by the popularity of zkSync and MegaETH. These tend to reach multibillion-dollar valuations, and Bitcoin Hyper is nothing different. 

The HYPER presale has already raised nearly $25 million in early investments, thanks to a string of six-figure investments from whales. For instance, one wallet recently purchased over $550k worth of HYPER, swapping 124 ETH for the new crypto. 

Unlike other cryptos on this list, interested buyers do not need to worry about price volatility with Bitcoin Hyper, considering it is currently in the presale and available at a fixed price. 

With HYPER being a low-cap crypto, several top traders are viewing it as a potential 10x crypto. 

Best Wallet (BEST)

Best Wallet Token (BEST) is another low-cap crypto that is immune to the broader market bearishness and in strong demand. 

It has already raised nearly $17 million in its ICO, a sign of strong community support and high upside potential.

BEST is the native token of the Best Wallet app, a new multi-chain and anonymous crypto wallet. 

Unlike most legacy wallets like MetaMask, Best Wallet supports 60-plus chains and over 300 DEXs. Users no longer need separate wallets for Bitcoin, Ethereum and Solana, which explains why the app is seeing 630% MoM growth in installations and 250,000 monthly users. 

Besides the traditional wallet capabilities, Best Wallet also offers its own presale and staking aggregators, a derivatives trading platform, an NFT gallery, an in-app crypto news feed and more. 

Unsurprisingly, BEST holders will receive attractive perks, including lower trading fees, higher staking rewards. With a growing focus on utility coins, experts are calling it the next 10x crypto. 

However, interested buyers now have a small window to buy BEST at its discounted price, considering its presale is ending in a little over three weeks. 

Dash (DASH)

Dash rounds up our list of best cryptos to buy now. 

Investors shouldn’t ignore the ongoing rally in privacy coins, especially considering how most assets are still highly undervalued as compared to their peak valuations. 

Those who missed out on the nearly 10x rally in Zcash (ZEC) are now going all in on DASH, which is still trading 92% below its all-time high. 

Prominent analysts like Cheds Trading are impressed with DASH’s relative strength. While most altcoins are down by double digits on Monday, the Dash price is up by 30% over the past 24 hours. In fact, it has posted the highest gains of any top 100 crypto over the past week, 140%. 

Currently trading at $116, experts believe that DASH could hit $250 in the short term and $1000 in the long term.

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