With the recent buzz around the downfall of many cryptocurrencies in terms of value, a lot of people with new cash to put to work are asking what are the top cryptocurrencies to buy in June. There are more than a thousand cryptocurrencies so picking one or two of the best cryptos can be a bit overwhelming but we sorted through much of the noise to come up with our best picks: Litecoin LTC/USD and IOTA MIOTA/USD
Should I buy Litecoin (LTC) now?
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Litecoin is a currency developed to provide quick, secure, and low-cost payment using unique properties found in blockchain technology. At the time of writing (May 26) Litecoin’s price stood at $194.04.
Over the past month, the price of Litecoin has lost 18.5% but looking further back at the charts show it was trading at $174.62 on Feb. 26. Amid the broader cryptocurrency selloff, Litecoin is still higher by more than 10% over the past few months.
Granted, LTC’s all-time-high price was $389.24 but recent momentum could push the current price of Litecoin back towards its highs given its strong use case.
If you see it fall below $174, then it’s definitely a sell or avoid buying situation, however, if you see it go above $200, it’s time to potentially buy as it cleared a key hurdle and momentum investors could start jumping in.
Should I buy IOTA (MIOTA)?
IOTA is a distributed ledger that is not a blockchain, and instead, it is a proprietary technology known as Tangle, which is a system of nodes that confirm transactions.
At the time of writing, Iota is trading at a value of $1.14. Like Litecoin, IOTA is also down over the past one month but looking further back it is higher from where it was in February.
The all-time high of MIOTA was at $2.532 and there is no reason why IOTA can’t eventually retest its highs. It might take some time for all the cryptocurrency volatility to ease but once it does names like IOTA with strong value propositions could see outsized demand from investors.
If you can buy IOTA at or below $1.10 it could be a good long-term investment. But if it fails to hold the $1 level it might be wise to pass on buying MIOTA and wait for signs of stabilization.
Bottom line: two different price points
LTC is currently trading at around the $190 mark, while MIOTA is trading at around the $1 mark.
This means that both of these coins target a different category of investors, with either different budgets to invest with, or just different tactics which they implement within their trading schedule.
No matter what kind of investor you are, the chances are high that either one of these has piqued your interest, and hopefully, through this analysis, you can make an educated decision as to what to invest in.