The post Crypto Prices Recover After Bad CPI Data: 5 Top Altcoins To Buy To Ride the Rally for Massive ROI appeared first on Coinpedia Fintech News
Many altcoins recently took a hit, before recovering following news surrounding the latest US Bureau of Labour Statistics which were released on the Consumer Price Index (CPI) data for February. The data revealed how the inflation in the US economy has begun moving in the wrong direction.
Specifically, the US CPI increased 3.2% YoY in February, which is way larger than expected. The core CPI, which includes costs surrounding food and energy, fell to 3.8%, and the annual headline inflation during February was worse than January’s at 3.1%. Crypto prices also got affected in the aftermath of this bad inflation data.
Yet, the recently approved spot Bitcoin ETFs have continued to fill the role of a risk proxy and have absorbed much of the potential dips. In addition, the ETFs recorded a cumulative inflow of over $1 billion for the first time since the approval.
According to data from crypto analyst James van Straten, the bad CPU data is called a “nothing burger”, and he is the lead analyst at CryptoSlate. Currently, the market does not care about the CPI, and the analyst also highlighted how Bitcoin investors have chosen the right crypto to beat the inflation.
As a result, analysts are projecting major gains for KangaMoon (KANG), Aptos (APT), Conflux (CFX), Fantom (FTM) and Avalanche (AVAX), and today, we will explore why these are the best altcoins to invest in.
Cryptocurrency Prices Slightly Dip Before Recovering Following the Bad CPI Data
Traders and investors need to be aware of the potential that the crypto market might crash even further. The temporary decline in crypto sales for example is a clear signal that the crypto market is still dependent on the Federal Reserve’s monetary policy. With that in mind, if cryptocurrencies do dip further, this could be an opportunity to buy the dip and accumulate the most ROI on investments.
The 5 Top Altcoins to Buy During the Dip to Ride the Momentum
Analysts currently believe that this market downturn is only temporary, and that the crypto market remains in a bull run. As a direct result, this can represent a major buying opportunity for most traders. Today, we will be diving into the top 5 altcoins that anyone should get during this dip in order to gain the highest value.
KangaMoon (KANG)
KangaMoon (KANG) is the latest crypto to enter the market and is undergoing a major blockchain ICO period, where it has already surged by 180%. Specifically, unlike other cryptocurrencies in its category, it is building a platform that introduces Play-to-Earn (P2E) elements, coupled with Social-Fi features as a means of adding extra layers of fun, and incentives for users of its ecosystem.
Each player begins with their own KangaMoon character, and with it, they can enjoy the various aspects of the game’s universe. They can get KANG tokens, and rare NFTs just by completing quests, battling other players or engaging in community events.
Another key feature behind the KangaMoon ecosystem is the marketplace, where any player can buy, sell or trade in-game items, characters or digital collectibles. The approach has made waves, as the platform will be community-driven. During Stage 4 of the presale, KANG trades at $0.014, which is a 180% increase from its starting value of $0.005. Moreover, the presale has raised over $2,287,955.227 so far, and can reach the $3 million milestone by the end of March.
KangaMoon’s unique approach has garnered a huge level of attention, and with its combination of meme culture, and an interactive gaming experience, it is poised to grow as much as 100x following its launch, especially once it’s listed on Tier-1 exchanges. These aspects make KANG one of the best altcoins to invest in.
Aptos (APT)
Aptos (APT) has seen the most significant level of interest recently, as while it did initially see a slight price decrease, ultimately it recovered and is now green on the 7-day, 30-day and annual chart. Smart-money investors are treating altcoins as a major opportunity for diversification, and the Aptos price has surged 65% in the past 30 days.
Moreover, the APtos crypto spiked from a low point of $12.64 to $15.90, and could nearly break even past the $16 price barrier. Its performance has delivered solid returns so far, and according to the Aptos price prediction, it can end 2024 at $21.50. As a result, it’s seen as one of the best altcoins to buy.
Conflux (CFX)
Conflux (CFX) is another solid altcoins to invest in during a crypto crash, especially with its recent bullish performance. While the Conflux price did see a decrease recently as it fell under the $0.40 price range, it could soon recover.
In the past 30 days, the Conflux crypto is up 57.5%, and initially jumped to $0.45 before retracing to $0.36. If the project regains attention from bulls however, it has the potential to reach new heights. According to the Conflux price prediction, it can end 2024 at $0.6613.
Fantom (FTM)
Fantom (FTM) was one of the first alt coins to start it’s upside move this bull cycle, and has showed strong tendencies to rally. As evident from the Fantom price charts, the crypto moved upwards 122.6% in the past month.
Moreover, on the weekly chart, the Fantom crypto is also bullish as it spiked 13.2%, and moved from a low point of $0.75 to a maximum value of $0.97. As a result, according to the Fantom price prediction, it can end 2024 at $1.39, making it one of the best altcoins.
Avalanche (AVAX)
Avalanche (AVAX) is also displaying bullishness on the charts, and has a tremendous upside potential even if the crypto market experiences another dip. Specifically, the year-to-date (YTD) climb for the Avalanche price was by 221.7%.
In addition, the monthly Avalanche crypto increase was by 42.2%, and its maximum weekly price was at $63.85. According to the Avalanche price prediction, it is primed to end 2024 at $87.52.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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