It’s no secret that the crypto market has been experiencing major bullish runs, which started on November 6th with Donald Trump’s victory in the recently concluded U.S. elections. Along with the bullish rush comes the million-dollar question, “Which bullish coins should I stock up on?“
If this sounds like you, then you should definitely read on, because we’ll be covering what coins to buy and why you need to buy them.
Top 5 bullish coins to grab before the bullish rush ends
Bitcoin
Sitting pretty at $90,792, Bitcoin not only takes the bullish credit for its stability against crypto volatility, but also because of its high dominance of 61.39% over other top coins in the game.
If you’re looking for a coin that’ll make you an overnight millionaire, well you’re looking at it right here. Just make sure you tread carefully with this one—as they say, with high profit comes high risks.
Ethereum
One of the key reasons Ethereum is considered the best crypto to buy now is its ongoing transition to Ethereum 2.0, a major upgrade that aims to improve the network’s scalability, security, and energy efficiency.
Ethereum’s smart contract functionality is what truly sets it apart from other cryptocurrencies. It allows developers to create self-executing contracts with the terms of the agreement directly written into code. This capability has spawned a multitude of innovative dApps across various sectors, including finance, gaming, supply chain management, and more.
Right now, Ethereum’s market metrics stand with a $3,157.64 price, and a market volume of $32.20 billion.
Uniswap(UNI)
Uniswap is a modern revolution of the way we think about crypto trading, making it more accessible and democratized. This Decentralized exchange mogul (DEX) works similarly like setting up a fruit stand on the blockchain, where you can trade your apples (ETH) for oranges (USDC) without a middleman taking a cut. Using an Automated Market Maker (AMM) model, liquidity is provided by users who earn fees from the trades happening in the pools.
Right now, UNI sits pretty at a price of $9.20, with $5.20 billion total volume locked down. This is one coin you shouldn’t sleep on.
Dogecoin
On an outward glance, dogecoin may not look like much, but this meme coin has a great potential to grow exponentially, and here’s why.
Dogecoin founder and tech mogul, Elon Musk was one of Trump’s close investors and sponsors during the U.S. election. Following his political victory, dogecoin reached a marker cap of almost $58 billion.
Asides this, Trump also commissioned Musk, to lead the new Department of Government Efficiency or DOGE, alongside Vivek Ramaswamy, a billionaire who ran against Trump in the Republican primary but dropped out to endorse him.
Maybe all these information may not be convincing enough to buy, but you might want to keep a good eye on it.
Solana
Lastly, we have Solana which has been hanging on quite well in the crypto market. Of course it also had its fair share of the bullish rush, making an impressive 60% gain over the last 14 days.
With a market cap of $113.92 billion and a strong resolve to grow exponentially among the top coins in the crypto market, SOL has earned a spot on our list of bullish coins to invest.
3 Things to do before Investing in any bullish coin
For crypto traders, investing in a particular coin, whether long or short-term, is tricky business, and rightly so. Subsequently, you cannot choose just any coin with bullish trends, as doing so will serve you a great loss if the crypto market crashes.
On the other hand, if you remain pessimistic about a potential bullish coin, you may miss out on a lot of profit. As a trader, understanding these common pitfalls and how to avoid them is of utmost concern. So here are 3 important things to do before buying a bullish coin.
- Learn what led to the bullish run: This may be internally or externally engineered, like the ETFs in the case of Bitcoin. This is important because it informs you if the bullish trend may run longer or just short-lived.
- Go beyond the Hype: As an industry that runs basically on sentiments, trends and major events, manipulating the crypto market is super easy. New crypto establishments can literally manipulate their way into becoming bullish. This is why you need to read and understand its white paper before deciding whether to buy or discard. Believe me, you don’t want to be stuck with a coin that has no actual value in the long run.
- Evaluate its Market Metrics: One feature that divides novice investors and experts is a working knowledge of three basic market metrics: Market capitalization: is calculated by multiplying the price of the cryptocurrency with the total number of coins or tokens in circulation. Trading volume: this metric shows how much the cryptocurrency has been traded within a specified time frame. Supply metrics: most cryptocurrencies have a max supply, which essentially means the maximum number of coins that will ever exist.
As a bonus, you can also check out the coin’s price history. The crypto market is volatile, so it’s normal to see fluctuations in price, but look for a gradual increase in price over time.
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