Best Crypto to Buy Now 8 May – Render, Stacks, Solana
Bitcoin's value has once again dipped under $28,000, influenced by various factors such as the dwindling interest in the PEPE meme cryptocurrency, Binance issues, and Bitcoin congestion problems.
The well-known exchange temporarily halted Bitcoin withdrawals over the weekend due to what they claimed was Bitcoin congestion problems, and despite resuming service on Sunday evening, concerns about the impact of high withdrawal volumes continue.
In light of the ongoing market correction, what are the best cryptos to buy now?
Following a similar trajectory, Ether (ETH) slipped below the $1,900 threshold it had maintained for the better part of the past week.
With a current value of roughly $1,854, ETH is experiencing a drop of 1.477% so far today.
Despite this decline, Ether's deflationary story has been reinforced following the Ethereum Shapella upgrade.
Joe DiPasquale, CEO of BitBull Capital, a cryptocurrency fund manager, highlighted that neither BTC nor ETH has tested near-term support levels since the mid-March rally.
DiPasquale suggested that BTC may test support between $25,000 and $27,000 before bouncing back.
He believes that current economic conditions bode well for the broader cryptocurrency market and recommends accumulating BTC and ETH during dips as a sensible approach.
In other news, enthusiasm for PEPE has seemingly subsided, with its market cap dropping to around $800 million after surpassing $1 billion earlier.
The meme coin has dropped by 33.65% so far today, according to CoinMarketCap.
Meanwhile, with the April CPI numbers scheduled for release on Wednesday, market observers are anticipating the next potential move in the cryptocurrency market.
Despite today's ongoing market retracement, certain cryptocurrencies are
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