3 Cryptos That Could Soar If Bitcoin Rallies to New Highs

Despite the optimism stemming from the Bitcoin halving, markets have been subdued in recent months, with additional volatility caused by the $75 million Bitcoin sale in Germany and repayments from Mt. Gox creditors.

With several groundbreaking moments for cryptos this year, including 11 new spots Bitcoin (BTC-USD) ETFs to drive mainstream adoption, markets have been buzzing with activity. However, despite the optimism stemming from the Bitcoin halving, markets have been subdued in recent months, with additional volatility caused by the $75 million Bitcoin sale in Germany and repayments from Mt. Gox creditors. These moves have resulted in significant short-term price impacts due to market movements.

The crypto market has corrected sharply recently, especially in the altcoin space, with Bitcoin holders being less affected by the downturn. Altcoins have collapsed despite low Fear and Greed Index readings, providing potential for a rebound if Bitcoin rises again amid supply shortages due to the halving event.

Here are three cryptos that I think could benefit the most from a Bitcoin rally towards new all-time highs. Make sure you buy these cryptos before they skyrocket.

Top Cryptos to Buy: Ethereum (ETH-USD)

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Investors should not panic ether (ETH-USD), despite the recent volatility. This token has experienced a similar decline to Bitcoin in recent weeks. As the price is currently below its 50- and 20-day moving averages, the $3,100 support line is crucial to prevent a decline to $2,900. Some see this decline as a buying opportunity and expect the approval of US spot Ethereum ETFs.

Recently, Ethereum planned its first ever hackathon, the “Attackathon,” with a $2 million reward pool, aiming for the largest crowdsourced security audit. For four weeks, security researchers searched for protocol vulnerabilities, following specific rules for meaningful results. The event began with a technical tour of the blockchain code. Bug bounty platform Immunefi would prepare a report after the incident detailing the vulnerabilities discovered.

All in all, Ethereum continues to appear to be a smart choice for investors looking for crypto exposure. It has the highest profile after Bitcoin, making the project a key player that can continue to grow as digital stores of value gain traction.

Bitcoin Cash (BCH-USD)

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An effective derivative of Bitcoin, Bitcoin cash (BCH-USD) was created as a peer-to-peer electronic cash system with the aim of becoming global money. In many ways, you can think of this project as Bitcoin, considering how many initially viewed the token.

With a larger block size than Bitcoin and lower fees (and arguably better security), Bitcoin Cash is often viewed as a true transactional cryptocurrency. The utility of this fact alone should not be lost on investors looking for a real reason “why” to own a particular token.

Bitcoin Cash was developed as an effective alternative to Bitcoin and continues to live in its shadow. However, there are many investors who still clearly believe in this project BCH retains 16th place in the crypto rankings by market capitalization. For those who believe that the future of crypto lies in transactions and low fees and higher processing speeds are important, this could be one of the main beneficiaries of the next digital asset boom.

Litecoin (LTC-USD)

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Launched in October 2011 by Charles Lee, Litecoin (LTC USD) was created as a derivative of Bitcoin’s open source code. It became a faster block generation option using the Scrypt algorithm. Additionally, Litecoin also aims to improve on the Bitcoin model by offering a more decentralized global payment system for small transactions.

Litecoin’s price moved within a falling wedge pattern delineated by a trendline connecting various swing highs and lows. On July 3, LTC faced resistance near the upper boundary of the trend line at around $77.33, resulting in a subsequent decline of 19.43% over the following two days. It later tested the weekly support at $56.61, recovered 5% and is currently trading at $65.20.

As the third-largest cryptocurrency by market capitalization, Litecoin aims to provide faster transaction capacity to Bitcoin. As the third-largest cryptocurrency by market capitalization, Litecoin aims to strengthen Bitcoin. This will be achieved through faster transaction speeds and a higher offer cap. It is considered a solid option for experienced crypto investors. The CFTC recently classified LTC as a commodity. LTC rose 32% last month, marking one of the strongest performances this year. Analysts are now predicting potential gains of up to $400, reflecting renewed bullish sentiment. This is easily one of the best cryptos you can buy.

At the time of publication, the responsible publisher did not hold, directly or indirectly, any positions in the securities mentioned in this article.

At the time of publication, Chris MacDonald did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.

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