Bitcoin recently broke out above the $45,000 resistance level in late March 2022, spiking to $48k and still currently holding that area, having retested $45k and opening April at a price of $45,500 on Binance.
The $45k level was lost as support in January and then Bitcoin was rejected there no less than four times when it attempted to reclaim it.
This breakout has many asking if the market structure has finally flipped bullish again – ending the bearish downtrend Bitcoin has been since its all time high of $69k, and the total crypto market cap reaching $3 trillion. Those heights were reached in late 2021.
If this is the start of a new bull cycle – and not just a deviation or ‘fakeout’ – now would be a good time to invest in the best new cryptocurrencies that have a low market cap. News of the Fed hiking interest rates has increased investor confidence in risk on assets like stocks and crypto.
Low cap coins tend to rally the hardest in an ‘altcoin season’ which usually follows impulsive moves to the upside on Bitcoin and Ethereum. ETH being back above $3,000 could signal an incoming alt season for DeFi coins that run on the Ethereum blockchain.
Recent news that Elon Musk has been handed a seat on the board of Twitter is also seen as bullish as he has been a long-time proponent of cryptocurrencies, particularly Bitcoin and meme coins like Dogecoin and Shiba Inu. DOGE pumped approximately 30% in two days, following the news.
Top new cryptos to invest in for 2022 – 2023
Below are two of our picks for the best new cryptocurrencies with interesting use cases, more so than Dogecoin which was developed as a joke and may still retrace the ‘Elon pump’, as it historically has retracted each 10-30% pump he caused.
Lucky Block (LBLOCK)
Lucky Block is a relatively new crypto project having sold out its presale early in January. Its native coin LBLOCK then opened for trading on Pancakeswap on January 26th.
LBLOCK has a very low market capitalization in the low six…
All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator
Read more from original source here…