- The crypto market is experiencing a significant downturn, but savvy traders know that this can be an excellent opportunity to purchase promising cryptocurrencies at a lower price.
- Five projects that could potentially yield substantial profits during this bear market will be examined: KangaMoon (KANG), Helium (HNT), Starknet (STRK), Filecoin (FIL), and Polygon (MATIC).
- However, it’s crucial to remember that investing in cryptocurrencies carries a high risk of loss, and thorough research should be conducted before making any transactions.
Discover promising cryptocurrencies during the bear market and learn how to potentially maximize your profits.
Investing in KangaMoon (KANG) During the Bear Market
KangaMoon (KANG) is a rising pre-sale project that has reportedly raised over $6 million since its inception and could potentially reach $7 million by the end of May 2024. The project already has over 20,000 registered community members, with more than 6,000 individuals owning KANG tokens. However, the future of this cryptocurrency project remains uncertain, and there is a risk of investment loss.
KangaMoon’s Upcoming Play-to-Earn (P2E) Game
According to the content submitter, KangaMoon will soon launch a Play-to-Earn (P2E) game. In this game, players can purchase in-game items and upgrade their characters using KANG tokens. Additionally, KangaMoon provides special access to weekly/monthly/quarterly contests for extra tokens or rewards to all KANG holders. However, it’s uncertain whether the project will be successful, and there is a risk of investment loss.
Helium (HNT): Demonstrating Remarkable Resilience Amid Volatility
Despite recent market turbulence, Helium (HNT) continues to rise. CoinMarketCap data shows that the HNT price has increased from $3.99 to $6.04 just within the past week. Consequently, Helium is well-positioned to benefit from the increasing global adoption of IoT devices.
Starknet (STRK): One of the Best Cryptocurrencies
Next, we should mention Starknet (STRK) as a good cryptocurrency to buy during this market downturn. CoinMarketCap data shows that the Starknet price has fluctuated between $1.32 and $1.19 over the past seven days. However, the technical analysis of Starknet crypto paints a bullish picture, with five technical indicators currently in the buying zone for Starknet coin.
Filecoin (FIL): Showing Bullish Signals
Filecoin (FIL) is a decentralized storage network that allows users to securely store and retrieve data. Recently, Filecoin has demonstrated resilience amid the market downturn. CoinMarketCap data shows that FIL’s price has increased from $5.43 to $5.85 just within the past year. Furthermore, Filecoin crypto is trading above its 100-day EMA, with five technical indicators showing green for FIL.
Polygon Price Analysis and Future Outlook
Lastly, we’ll discuss Polygon (MATIC). CoinMarketCap data shows that the Polygon price has moved between $0.68 and $0.78 just within the past week. From a technical analysis perspective, the future of Polygon crypto looks bright, with Polygon trading above its 200-day EMA and six technical indicators showing green.
Conclusion
While investors may be concerned about the market downturn, they can also use it as an opportunity to buy cryptocurrencies with significant growth potential. Helium, Starknet, Filecoin, and Polygon are good cryptocurrencies, but it’s uncertain whether KangaMoon, which has a low market value of $19.6 million, will be successful. It’s reported that it may only need an additional $19.6 million to double its current price.
