With prices low, this could be a good time for investors to add assets and reduce their cost averaging. This could also be a good time for new investors to enter the cryptocurrency market.
With that said, let’s look at three assets you can buy during a recession.
Top 3 Cryptocurrencies to Buy During a Bear Market
SOL
Solana (SOL) had an incredible 2023. This year, the asset seems to be struggling to gain similar momentum. SOL’s price is down more than 9% in 24 hours and 18.4% over the past month.
Financial giant VanEck recently filed for a SOL ETF. If the government approves the application, we could see a significant spike in the price of the fifth-largest cryptocurrency. Given its low price, this could be a good entry point for new investors.
TON
Toncoin (TON) has been performing well this year. The cryptocurrency hit an all-time high of $8.25 last month and has climbed into the top 10 projects by market capitalization.
TON is part of the Telegram network, which has millions of users worldwide. CoinCodex researchers predict that TON will surpass the $20 mark by the end of this month and will reach $25.85 by August 1, 2024.
SHIB
Shiba Inu (SHIB) price is down 7.5% in the last 24 hours and down 7.6% over the past week.
SHIB is a very popular cryptocurrency with an incredibly loyal fan base. This makes the asset shine with a lot of potential. The low price gives new investors an incredible entry point to buy into the 14th largest cryptocurrency.
