If you’re looking for cryptos to buy during the dip, you’re likely doing the right thing. The crypto market is no stranger to volatility. Bitcoin’s (BCH-USD) latest correction has sent many investors into a panic, prompting emotional selling right at the bottom. But seasoned crypto traders know better than to join the herd. Successful investing requires patience and perspective – the ability to zoom out and see the bigger picture.
These corrections are a normal and healthy part of the market cycle. Corrections shake out “weak hands” and set the stage for the next major advance. Savvy investors use these pullbacks as opportunities to accumulate positions in high-quality projects before they inevitably rebound.
In my opinion, Bitcoin appears primed for its next leg higher. The leading cryptocurrency has undergone several boom-and-bust cycles since its inception, with each fresh high far surpassing its previous peak. There’s no guarantee this trend will continue, but probabilities point to much higher prices in the coming months.
The key is having the discipline and conviction to buy when there’s “blood in the streets,” as counterintuitive as it may seem. To that end, here are three promising cryptos to buy during this temporary dip before the next Bitcoin bull run potentially lifts the entire market.
Alephium (ALPH-USD)
Alephium (ALPH-USD) has been compared to Kaspa (KAS-USD) for its growing traction in the crypto space. After reaching a peak of $3.80 per token, Alephium has declined 35% to $2.50 amid recent volatility. While further volatility may occur before a recovery unfolds, I remain bullish on this quality utility token long-term.
What makes Alephium stand out is its focus on Web 3.0 and advanced features. Its “stateful UTXO model offers layer-1 scalability and Ethereum (ETH-USD)-level programmability while enhancing security.” This level of programmability and security provides a significant edge as decentralized apps (dApps) evolve.
Moreover, Alephium uses far less energy than proof-of-work cryptos like Bitcoin. Its Proof-of-Less-Work consensus mechanism combines physical work and coin economics to lower energy consumption by 87.5% versus Bitcoin.
Another key advantage is Alephium’s custom virtual machine, Alphred. It aims to resolve issues facing dApps platforms by delivering “major security improvements, better development experience, and innovations like trustless P2P smart contract transactions.” This could draw more developers and boost ecosystem adoption.
Despite a current market cap of $182 million, I believe Alephium remains undervalued. Alephium could see significant demand this cycle.
Myro (MYRO-USD)
I rarely cover meme coins, but Myro’s (MYRO-USD) association with the thriving Solana ecosystem makes it worth watching. Solana (SOL-USD) has surged more than 820% in under six months thanks to its fast, cheap Web 3.0 network. This makes the Solana network an appealing alternative to Ethereum for developers.
Given Solana’s impressive gains, projects within its ecosystem like Myro could offer compelling buying opportunities. Though now trading sideways around 23 cents after falling from 44 cents, Myro has seen solid transaction volumes recently, largely due to Solana’s speed. Myro has minimal dilution with 94.4% of its supply currently circulating.
If the bull run persists, Myro could potentially exceed $1 per token. While lacking utility, meme coins can deliver speculative gains fueled by hype and community engagement. Myro’s Solana roots could amplify its meme appeal and price trajectory if the broader crypto market stays bullish.
Bitcoin Cash (BCH-USD)
After being viewed as a fading altcoin, Bitcoin Cash (BCH-USD) is staging a major comeback – gaining nearly 300% this past year and outpacing most large cap tokens.
Bitcoin Cash’s resurgence is largely driven by its growing utility as a payment solution. As crypto markets boom, networks like Ethereum become more congested, causing gas fees to surge to more than $100 per transaction. This has pushed many users to embrace Bitcoin Cash for its low fees and wide acceptance among merchants.
A key advantage is Bitcoin Cash’s cost-effectiveness for transactions. It stands out as one of the few major cryptos broadly supported by merchants accepting crypto payments. This widespread adoption strongly reinforces my bullish case, as long as transaction volumes continue to climb.
However, Bitcoin Cash’s slower confirmations remain a drawback compared to some faster cryptos. Still, its low fees and merchant acceptance make it a compelling choice for those looking to bet on affordable crypto transactions winning out over the long-term.
On the date of publication, Omor Ibne Ehsan did not hold (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.
