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After the recent crash in the cryptocurrency market and as the market is stabilizing, many people are interested in what are the best cryptocurrencies to buy in June.
There are over a thousand crypto currencies, so choosing one or two of the best cryptocurrencies can be a bit overwhelming, but we’ve cleared most of the noise to find our top picks: Litecoin and IOTA.
Litecoin
Litecoin is a currency designed to provide fast, secure and inexpensive payment transactions. At the time of writing (May 27), the price of litecoin was $ 182.73.
Over the past month, the price of Litecoin has lost 19.5%, but looking back on the charts, we can see that it was trading at $ 175.72 on February 26. Amid a cryptocurrency sell-off, Litecoin is still more than 10% higher compared to recent months. The highest LTC price of all time was $ 388.24, and the recent momentum could push the current Litecoin price to highs given its strong use case.
If you see it drop below $ 154 then it is definitely a sell or buy avoidance situation, however if you see it rise above $ 200 then it is time to potentially buy as it will break a key hurdle to gain momentum. and investors could start jumping.
IOTA
IOTA is a distributed ledger that is not a blockchain, but a proprietary technology known as Tangle, which is a system of nodes that confirm transactions.
At the time of writing, Iota is trading at $ 1.16. Like Litecoin, IOTA has also declined for the last month, but it is higher than in February.
MIOTA’s all-time high was $ 2,632 and there is no reason why IOTA couldn’t end up retesting its highs. It may take a while, but once that happens, names like IOTA with strong value propositions could see high demand from investors.
If you can buy IOTA for $ 1.10 or less, it could be a good long-term investment. But if you fail to hold the $ 1 level, it may be wise to abandon the MIOTA buy and wait for signs of stabilization.
Both currencies target a different category of investors, with different investment budgets and with different tactics. Regardless of what type of investor you are, it is hoped that with the help of this analysis you will be able to make an informed decision about what to invest in.
