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5 Promising Indicators Pointing Toward A Bitcoin Rally - What Are The Best Coins To Buy Now?

Bitcoin’s price is struggling but there are plenty of signs that a rally could be imminent. In the meantime, we review some of the best coins to buy right now.

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Sonik Coin
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Crypto’s number one coin has been enduring a rough go of it lately as it has seen its price drop from a year high of over $30k all the way back down to the $26k mark where it had been for most of the year before the last pump.

Best Coins to Buy Now- Best BTC Alternatives

While Bitcoin (BTC) is struggling the opposite can be said for the presale market. We are living through a golden age for new projects as the innovation being displayed is truly inspiring. Some of the bets include:

  1. Wall Street Memes ($WSM),
  2. Sonik Coin (SONIK),
  3. Launchpad (LPX),
  4. yPredict (YPRED),
  5. Chimpzee (CHMPZ),
  6. Shiba Inu

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Wall Street Memes- Over $25 million already raised as listings loom

The most anticipated meme coin of 2023 is now in the final stretch of its presale. Over $25 million has been raised and we are just over a month out from when the listings begin. The hype around Wall Street Memes ($WSM) comes from their huge online brand. With over 1 million followers across their social media accounts, many think this could be the first meme coin to really challenge the hierarchy of DOGE and SHIB.

Sonik Coin- Fast by name and nature, watch out for this new meme coin

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Based on SEGA’s Sonic the Hedgehog, Sonik Coin (SONIK) is just as physically fast but maybe not altogether upstairs as hilariously illustrated by the original art on the coins page. This meme coin project has ambitious aims as it hopes to be the fastest crypto project to reach a $100 million market cap. Considering the hilarious meme and the utility that staking contracts will bring the project this might be possible.

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Sonic Coin

Launchpad XYZ- Aims to onboard the next 10 million users to Web 3.0

Launchpad XYZ (LPX) has really applied some much-needed common sense to the crypto market with their project. Despite Web 3.0 being so popular within the crypto world until now nobody has thought about creating a hub for beginners and experts alike. They have massive ambitions of onboarding the next 10 million users onto the new technology and their site will have everything you need to also make a profit.

yPredict- Already over 20,000 users signed up to use this site

Despite still going through the presale phase there are already over 20,000 users signed up to use the yPredict (YPRED) platform. That is likely because this trading advice platform will have the top 1% of AI program developers sharing their work on its site. 70% of every YPRED token will go to these developers so it's a perfect symbiotic relationship where investors get great advice and developers get to make some cash.

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yPredict

Chimpzee- Not just a meme coin but also saving the rainforest

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We do not know what the future of the crypto market will look like but green projects and meme coins will likely be the most popular kind of coins. Chimpzee (CHMPZ) is a combo of both. 10% of every token will go to helping save rainforests but it doesn’t stop there. For the first time ever Shop2Earn, Play2Earn, and Tarde2Earn will all be available for investors to make passive income off. This project really has it all.

Shiba Inu- A good buy low spot after price collapse

All the major meme coins saw a drastic fall in price last week as market conditions took a turn for the worst. The most likely to bounce back seems to be Shiba Inu (SHIB). The coin was displaying good signs before the bearish conditions and already is on an upward arc again. Expect SHIB to recover back to at least its pre-downturn price once the market turns green again.

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While a number of factors like 22-year high-interest rates, SpaceX possibly dumping their Bitcoin stash, and the global stock market suffering have all conspired to hurt the price of Bitcoin it is not all doom and gloom. In fact, there are a number of indicators that show that Bitcoin might be due for a rally soon.

Let’s look at 5 indicators that show Bitcoin could hit a purple patch again soon.

5 reasons Bitcoin could be about to pump again

  1. The number one most obvious reason is there are already indications that the price is starting to recover. If you look at Bitcoin’s price chart from the last 7-10 days it is practically a straight line down. However, the last two days seem to indicate that the dip has stopped and it has even shown slight signs of climbing again.
  2. The Federal Reserve's annual Jackson Hole gathering will take place at the end of this week. Among the topics likely to be discussed by chairperson Jerome Powel is interest rates, which have a big effect on the crypto market.At the moment the price leveling off indicates investors are waiting to see what he says. At the moment indicators are that interest rates will remain unchanged. While a slashing would be an idea it would still be good news for Bitcoin given the climate.
  3. Another more long-term bet on Bitcoin comes from a Delphi Institute study. Their study, which has just been released, looks at the price history of Bitcoin through a macro lens. They have found a pattern that suggests Bitcoin could reach an all-time high by this time next year.Basically, they found that once Bitcoin hits an all-time high, the price plummets somewhat before slowly starting to recover, and then we have the pump to a new all-time high. If Bitcoin is still following this trend then we are at the point of slowly recovering before it pumps again.
  4. The crypto market tends to be affected by a lot of outside factors. One of these is the US dollar. The dollar has been enduring a volatile period as of late due to factors such as South American and African countries plotting to start their own continental currencies. If the dollar were to get any weaker many might turn to Bitcoin as an alternative which of course would cause a price rally.
  5. Finally, the last pump started when Wall Street asset managers like BlackRock decided to file for an ETF with the SEC. This was legitimization for the crypto market and Bitcoin in particular. Since then things have quietened down but Autumn will likely see these companies take the next steps into the trading platform world, this will certainly see Bitcoin rally once again.

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Conclusion

So let’s finish up here. Bitcoin may be enduring a difficult period but we have outlined five reasons why it may turn a corner very soon. This may be more of a slow burner but the coins we have mentioned above are great short-term investment opportunities in the meantime. The four presales in particular are likely to pump once listings begin so now is the best time to buy.

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