Crypto prices are surging with the release of the Cool CPI, and the focus now shifts to the Federal Open Market Committee (FOMC) for the next big move. Traders are on the lookout for the best altcoins to invest in for quick gains as Bitcoin eyes the $70,000 mark.
The FOMC has decided to maintain the federal funds rate between 5.25% and 5.50%. The Summary of Economic Projections (SEP) indicates a potential quarter-point cut by the end of the year, contrasting with the previous forecast of three cuts in March. The central bank might adopt a more hawkish stance due to persistent inflation and a robust job market, following rate cuts by the European Central Bank and the Bank of Canada.
Market confidence has seen a boost with the expectation that the Fed will not reduce interest rates until September. This could act as a catalyst for Bitcoin to surge past $73,000 towards $100,000, given the positive chart analysis showing Bitcoin crossing its 5&20 DMA in recent sessions.
While major cryptocurrencies like ETH, DOGE, SHIB, AVAX, and LINK showed mixed signals, some strong altcoins are emerging as potential investments. Notcoin (NOT), the first memecoin on the Ton blockchain, has been performing exceptionally well, with a 20% increase in 24 hours. Pepe (PEPE), an Ethereum meme token, is also showing promise with a 10% rise in the past 24 hours. SEAL, another meme token, has surged by 12.95% and could be a lucrative investment option.
Additionally, investing in crypto presales is gaining traction as a strategy to diversify portfolios. Web3 projects and protocols often offer discounted rates on native tokens during presales, providing early investors with an opportunity to acquire tokens before they hit the broader market. Identifying projects with strong visions, practical use cases, and competent teams is crucial for successful investments in this market.
Cryptonews.com has compiled a list of 15 potential Bitcoin alternatives in the presale market that show promise for returns. It’s important to remember that crypto is a high-risk asset class, and this information is for informational purposes only and should not be considered investment advice. Investors could potentially lose all of their capital.