Crypto Crash June 2022: 3 Cryptos To Buy For Cheap
It might seem counterintuitive to buy crypto when prices are falling – like right now in June 2022.
But investment wisdom tends to say: buy when prices are falling; sell when prices are rising.
Why is that?
A quick look at the Bitcoin macro high of $20,000 in December shows that, a year later, Bitcoin collapsed to just $3,000 in price. Had you bought $1,000 of Bitcoin at $20,000 in December 2021 when sentiment was strong you’d be just about breaking even today?
But had you bought $1,000 of Bitcoin at the bottom of $3,000 you’d now have over $6,600.
Furthermore – if you’d sold that $1,000 at the recent Bitcoin all-time high of $69,000 you could have made a $22,000 profit.
Knowing where the bottom of a bear market is becoming key to successful crypto investing. Assuming the bottom is near, below we look at the three best cryptos to buy on the cheap.
Bitcoin
The relative strength index (RSI) is a useful indicator that suggests when an asset class is oversold.
When the RSI over 14 weeks falls under 30, that’s an indication to buy for many experienced investors. The current Bitcoin RSI is 26.
The last time the Bitcoin RSI was this low was – you guessed it – back when Bitcoin hit a low of $3,000 in late 2018. We’ve just seen what could have happened to your investment had you bought $1,000 of Bitcoin at this price.
There’s no telling how long the bear market this June 2022 will last. But Bitcoin is still the largest cryptocurrency dominating 43% of the crypto market, and will undoubtedly lead the next bull market.
BNB
While leading crypto exchanges such as Coinbase, Crypto.Com, and Bybit have announced job cuts this June 2022 – Binance has announced its hiring.
While DeFi platforms like Celsius have frozen withdrawals just to stay afloat – not to mention the catastrophic collapse of Terra Luna – Binance.US has just this week removed fees on four major Bitcoin trading pairs.
How does Binance do it?
The world’s largest crypto exchange by daily trading volume is well known for putting its users first and foregoing expensive marketing deals to build robust utilities. Its BUSD stablecoin is famous for being the only major token backed by US banks and with regular monthly audits.
BNB is the native token of Binance. It fuels the trading platform but has a growing number of use cases including ordering taxis and booking trips abroad.
BNB is great crypto to buy this June 2022. At the current price of $223 it is way undervalued.
EverGrow Coin
EverGrow Coin is shaking up the DeFi passive income space.
DeFi has been one of the biggest casualties of the crypto crash this 2022. Terra UST promised 19% APY on deposits into the Anchor protocol – and we all know how that ended.
EverGrow Coin is different. The token charges a transaction tax of 14% on any buy or sell order. From this, a total of 8% is distributed to all investors in BUSD, with 3% destined for liquidity, 2% for buyback & burn, and 1% for marketing.
While the transaction tax appears steep for a currency, EverGrow Coin does not actually call itself a currency. It wants to be a ‘share’.
The distinction becomes clear as EverGrow Coin prepares to launch its first application – the LunaSky NFT marketplace. All profits will be pumped back into either direct BUSD rewards or buying up more EverGrow Coin and burning it from supply.
EverGrow Coin has paid out more than $37 million in BUSD since launching in September last year.
The EverGrow Coin website carries more information about the project as well as calculators to figure out how much BUSD you could make when trading volumes recover from the June 2022 bear market.
The post Crypto Crash June 2022: 3 Cryptos To Buy For Cheap appeared first on .
It might seem counterintuitive to buy crypto when prices are falling – like right now in June 2022.
But investment wisdom tends to say: buy when prices are falling; sell when prices are rising.
Why is that?
A quick look at the Bitcoin macro high of $20,000 in December shows that, a year later, Bitcoin collapsed to just $3,000 in price. Had you bought $1,000 of Bitcoin at $20,000 in December 2021 when sentiment was strong you’d be just about breaking even today?
But had you bought $1,000 of Bitcoin at the bottom of $3,000 you’d now have over $6,600.
Furthermore – if you’d sold that $1,000 at the recent Bitcoin all-time high of $69,000 you could have made a $22,000 profit.
Knowing where the bottom of a bear market is becoming key to successful crypto investing. Assuming the bottom is near, below we look at the three best cryptos to buy on the cheap.
Bitcoin
The relative strength index (RSI) is a useful indicator that suggests when an asset class is oversold.
When the RSI over 14 weeks falls under 30, that’s an indication to buy for many experienced investors. The current Bitcoin RSI is 26.
The last time the Bitcoin RSI was this low was – you guessed it – back when Bitcoin hit a low of $3,000 in late 2018. We’ve just seen what could have happened to your investment had you bought $1,000 of Bitcoin at this price.
There’s no telling how long the bear market this June 2022 will last. But Bitcoin is still the largest cryptocurrency dominating 43% of the crypto market, and will undoubtedly lead the next bull market.
BNB
While leading crypto exchanges such as Coinbase, Crypto.Com, and Bybit have announced job cuts this June 2022 – Binance has announced its hiring.
While DeFi platforms like Celsius have frozen withdrawals just to stay afloat – not to mention the catastrophic collapse of Terra Luna – Binance.US has just this week removed fees on four major Bitcoin trading pairs.
How does Binance do it?
The world’s largest crypto exchange by daily trading volume is well known for putting its users first and foregoing expensive marketing deals to build robust utilities. Its BUSD stablecoin is famous for being the only major token backed by US banks and with regular monthly audits.
BNB is the native token of Binance. It fuels the trading platform but has a growing number of use cases including ordering taxis and booking trips abroad.
BNB is great crypto to buy this June 2022. At the current price of $223 it is way undervalued.
EverGrow Coin
EverGrow Coin is shaking up the DeFi passive income space.
DeFi has been one of the biggest casualties of the crypto crash this 2022. Terra UST promised 19% APY on deposits into the Anchor protocol – and we all know how that ended.
EverGrow Coin is different. The token charges a transaction tax of 14% on any buy or sell order. From this, a total of 8% is distributed to all investors in BUSD, with 3% destined for liquidity, 2% for buyback & burn, and 1% for marketing.
While the transaction tax appears steep for a currency, EverGrow Coin does not actually call itself a currency. It wants to be a ‘share’.
The distinction becomes clear as EverGrow Coin prepares to launch its first application – the LunaSky NFT marketplace. All profits will be pumped back into either direct BUSD rewards or buying up more EverGrow Coin and burning it from supply.
EverGrow Coin has paid out more than $37 million in BUSD since launching in September last year.
The EverGrow Coin website carries more information about the project as well as calculators to figure out how much BUSD you could make when trading volumes recover from the June 2022 bear market.
The post Crypto Crash June 2022: 3 Cryptos To Buy For Cheap appeared first on .
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