The cryptocurrency market continues its downward trajectory. Bitcoin (BTC) has fallen to the $86,000 price level. The global crypto market cap has dipped 3.7% in the last 24 hours to $2.96 trillion. The market is not showing any signs of a recovery yet.
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Cryptocurrencies Suffer Amid The American Trade War
The latest market correction came after the US reimposed tariffs on Canada and Mexico after a 30-day pause. The taxes aim to combat trade deficits and illegal border crossings. Investors anticipate the tariffs to have negative impacts on the economic environment. Cryptocurrencies have taken a back seat as they fall under risky investments.
The Bybit hack further exasperated the cryptocurrency market dip. The popular exchange lost nearly $1.4 billion worth of assets. The attack is being called the most significant hack in the crypto industry.
The crypto market dip has presented a good opportunity for investors to buy assets at discounted rates. Let’s take a look.
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Top 3 Cryptocurrencies To Buy At Discounted Rates
1. Bitcoin (BTC)
BTC is the original crypto. The market will likely not recover until BTC makes a move. The asset will likely begin an upward ascent over the coming weeks. Current prices may be a good entry point for many new investors.
2. Solana (SOL)
SOL took a massive hit after the Libra cryptocurrency debacle. The asset is among the most popular crypto coins and the SOL network has seen incredible growth over the last year. SOL’s price could pick up steam after the market recovers.
3. Ripple (XRP)
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Ripple’s XRP token is another popular cryptocurrency that is trading at low prices. There is a high probability that the SEC will approve an XRP ETF later this year. The move could lead to a significant price rally for the coin.