Best Crypto to Buy Now 23 March – ALGO, LHINU, LTC, FGHT, LINK, CCHG, TARO
On Wednesday, Federal Reserve Chair Jerome Powell's remarks caused cryptocurrencies to tumble, resulting in a loss of $34.186 billion or 3.09% for the total cryptocurrency market cap. As of writing, the crypto market is attempting to make a recovery with the total market cap rising by 4.46%, bringing it to $1.17 trillion so far today.
In this article, we'll take a look at how this might affect the best cryptos to buy now.
The Nasdaq composite index, which crypto markets closely track, fell by 1.6% on Wednesday following Powell's comments. But futures were up in premarket trading, suggesting that tech stocks and cryptocurrencies may recover losses.
Meanwhile, regulatory risks intensified for crypto this week as the SEC took aim at Coinbase and Tron founder Justin Sun for possible securities law violations.
The SEC sent Coinbase a Wells notice warning of potential enforcement action related to several of its services. Coinbase's share price dropped by over 8% on the news before recovering slightly in after-hours trading.
Additionally, the SEC charged Sun and his associated companies with illegally selling and manipulating markets for the TRX and BTT cryptocurrencies. TRX's price fell by over 10% but has made a recovery of about 6.32% so far today.
Overall, the combination of Fed policy signaling higher interest rates and regulatory scrutiny is creating volatility in cryptocurrency markets. The pace and impact of regulators' actions are highly uncertain, as is the economic fallout from rising rates.
However, cryptocurrencies have weathered regulatory and macroeconomic changes in the past, and many investors remain bullish about the growth potential of blockchain technology and digital assets.
The coming days and weeks may indicate
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