After the recent fall in crypto market and as market is stabilizing, many people are interested in what are the best cryptocurrencies to buy in June.
There are over a thousand crypto coins out there, so picking one or two of the best cryptocurrencies can be a bit overwhelming, but we’ve sorted out most of the noise to come up with our best options: Litecoin and IOTA.
Litecoin is a currency designed to provide fast, secure and inexpensive payments transactions. At the time of writing (May 27), the litecoin price was $182.73.
Over the past month, the price of Litecoin has lost 19.5%, but looking back at the charts, we can see that it was trading at $175.72 on February 26th. Amid a broader selloff in cryptocurrencies, Litecoin is still more than 10% higher as compared to the past few months. The all-time high LTC price was $388.24, and the recent momentum could push the current price of Litecoin back to highs given its strong use case.
If you see it falling below $154, then it is definitely a selling or avoiding buy situation, however, if you see it rising above $200, it’s time to potentially buy as it will broke a key hurdle to gain momentum, and investors could start jumping.
IOTA is a distributed ledger that is not a blockchain but instead is a proprietary technology known as Tangle, which is a system of nodes that confirm transactions.
At the time of writing, Iota is trading at $1.16. Like Litecoin, IOTA has also declined over the past month, but it is higher than it was in February.
MIOTA’s all-time high was $2.632 and there is no reason why IOTA cannot end up retesting its highs. It may take a while but once that happens, names like IOTA with strong value propositions could see huge demand from investors.
If you can buy IOTA at or below $1.10, it could be a good long-term investment. But if it fails to maintain the $1 level, it may be wise to abandon the MIOTA purchase and wait for signs of stabilization.
Both of these coins target a different category of investors, with different investment budgets, and with different tactics. Regardless of what kind of investor you are, hopefully with the help of this analysis you can make an informed decision about what to invest in.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.