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TLDR:
- MicroStrategy has bought the dip, adding 9,245 BTC to its portfolio.
- Pseudonymous trader Kaleo has predicted a breakout rally that will take Injective to a new all-time high at $239.
- NuggetRush has been forecasted to be one of the most bullish altcoins in 2024, with ROI as high as 50x.
Prevailing macroeconomic uncertainty and increased outflows from Grayscale’s ETF have caused the price of Bitcoin to plunge as low as $63,000. Taking advantage of the market dip, MicroStrategy has added 9,245 BTC to its portfolio.
While the market remains in a downtrend, crypto analysts have identified the best DeFi coins investors should buy now. Kaleo has predicted a new ATH for Injective at $239, while NuggetRush has been forecasted to see gains of up to 50% before the end of 2024.
MicroStrategy Buys the Dip, Purchases 9,245 Bitcoin (BTC)
With the recent Fed report suggesting a slimmer chance of interest rate cuts and a rapid increase in outflows from Grayscale’s GBTC, the price of Bitcoin turned bearish. On the weekly chart the price of Bitcoin plunged by 13% on the weekly chart to hit the $63,000 support level.
For Michael Saylor, Bitcoin remains the best crypto for beginners, and his company has continued amassing droves of the leading crypto. In its latest purchase spree, MicroStrategy has added over 9,245 BTCs to its portfolio.
Bought at an average of $67,382 per Bitcoin, MicroStrategy spent $623 million on its latest purchase. The company now holds 214,248 BTC, as it considers Bitcoin the best cryptocurrency.
NuggetRush (NUGX) Poised To Lead the Crypto Market Recovery
The recent downtrend hasn’t invalidated the current bullish cycle, and cryptocurrencies are expected to bounce back. One of the top crypto coins poised to lead the market recovery and 2024 bull cycle is NuggetRush (NUGX).
NuggetRush has been identified as one of the top gaming tokens because of its upcoming mining game that will enable it to play games and win in-game assets and trending NFTs. In addition, investors can exchange these items for real money on the NuggetRush NFT marketplace.
The game also offers other earning opportunities via NFT staking. With this option, NuggetRush investors can get up to 20% APY on their NFTs, depending on how long they are staked for. With these exciting features, NuggetRush has enjoyed one of the most impressive blockchain ICOs.
Over 240 million NUGX tokens have been sold, while the project has raised over $3 million for its development. Ahead of its launch, the price of NUGX has increased by 90% to peak at $0.019. However, NuggetRush has been forecast to lead the market recovery with gains of 50x.
Injective (INJ) Poised for a Breakout Rally
Injective (INJ) has enjoyed an impressive bullish spell in the first quarter of 2024, surging to a new ATH above $50. However, like the rest of the crypto market, the altcoin price has dropped back to the $37 level. Despite the price drop, Kaleo has stated that he is still bullish about Injective.
According to Kaleo, he’d be “surprised if this breakout/retest doesn’t send back into price discovery.” Based on the INJ/BTC chart the analyst shared, the price of Injective could peak above $239 in the coming weeks.
Final Thoughts
The recent purchase from MicroStrategy demonstrates the belief of the crypto market in the prospects of Bitcoin. While Injective looks poised for major price growth, investors looking for which crypto to buy today for long-term should consider NuggetRush as it prepares to lead the crypto market recovery.
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