Best Crypto to Buy Now January 31 – Chainlink, Ronin, Mina

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By BitcoinWiki News

Key Takeaways:

  • Bitcoin (BTC) was last down around 1.6% under $43,000 after Fed Chair Powell pushed back against a March rate cut.
  • After the Fed left interest rates unchanged at 5.25-5.5% on Wednesday, Powell said a rate cut in March was unlikely.
  • That forced traders to pare bets on a rate cut this quarter, weighing on liquidity-sensitive assets like Bitcoin.
  • Crypto markets are mostly in the red on Wednesday, but there are a few bright spots.
  • Flare (FLR) was last still up over 3% on Wednesday, making it one of the best crypto to buy now.
  • Ronin (RON)’s amazing uptrend from October lows has continued as January ends. RON hit multi-year highs above $2.90 on Wednesday, up 600% since October’s lows around $0.40.
  • Mina Protocol (MINA) stands a good chance of rallying back to its recent highs at $1.70, if it can break above its 21 and 50DMAs in the $1.12-1.15 area.
  • For those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
  • Here is a list of 15 of what the project deems as the best crypto presales of 2023.

Title: Cryptocurrency Market Update

The cryptocurrency market is experiencing a pullback in the wake of a hawkish Fed policy announcement. Despite this, Flare (FLR), Monero (XMR), and Ronin (RON) are still performing well, making them potential options for investment.

Fed Policy and Impact on Crypto Markets
Following a statement by Fed Chair Powell against a March rate cut, Bitcoin (BTC) was down around 1.6% to just under $43,000. The likelihood of a rate cut has decreased, leading to a decrease in liquidity-sensitive assets like Bitcoin. This has triggered concerns about the pace of interest rate reductions and has resulted in US stocks and bond yields falling on Wednesday.

Best Crypto to Buy Now
Flare (FLR): The data-focused layer-1 blockchain Flare (FLR) is up over 3% on Wednesday, with potential for further gains if it breaks key resistance levels.
Ronin (RON): The game development-focused blockchain Ronin (RON) has experienced a significant uptrend and remains one of the best-performing cryptocurrencies.
Mina Protocol (MINA): The zero-knowledge proof powered layer-1 blockchain Mina (MINA) has the potential to rally back to recent highs, making it a good investment option.

Crypto Alternatives to Consider
Investors can consider participating in crypto presales, where tokens of upstart crypto projects are sold at a lower price. Investing in presales carries high risk, but also offers the potential for significant gains.

While crypto markets are experiencing a pullback, there are still opportunities for investors to consider. It’s important to carefully evaluate the potential risks and rewards associated with different investment options in the cryptocurrency market.

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