Best Crypto to Buy Now June 20 – Ethereum, Fetch.ai, SingularityNET
As major cryptocurrencies flatline within weekly ranges, with Bitcoin (BTC) last just below $65,000 and Ethereum (ETH) last changing hands just above $3,500, both flat in the past 24 hours, traders are hunting for the best crypto to buy now for quick gains.
Bitcoin found strong resistance at its 50DMA in the mid-$66,000s on Thursday.
That suggest the bears are in control right now and risks are tilted towards a retest of $60,000.
Bitcoin has strong narratives going for it. Fed rate cuts are likely to come later this year, US Presidential elections tend to be a crypto tailwind and tailwinds from lower supply growth in wake of the halving are also likely to come in as 2024 draws to an end.
That all comes in wake of the approval of spot Bitcoin ETFs in the US earlier this year. Betting on long-term BTC price downside right now is very risky.
But a technical-selling-driven drop to $60,000 is certainly on the cards. So, for those wanting quick gains, Bitcoin might not be the best.
Ethereum might be a better bet. ETH has been holding nicely above its 50DMA in the $3,400s ahead of US spot Ethereum ETF launches in July.
At least, that’s when the SEC is expected to give them the green light. And that could result in a sudden influx of demand for ETH, which could vault it back to record highs.
The SEC, by the way, continues to ease its anti-Ethereum stance. The latest major development is that it has ended its investigation into Ethereum 2.0.
ETHEREUM SURVIVES THE SEC.
Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0.
This means that the SEC…
— Consensys (@Consensys)
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