Market Times:


New York:


Top 3 Coins to Buy as Crypto Market Sees Wild Correction

A pick of the best three coins to buy for low-risk returns when the crypto market recovers.

bitcoin and crypto coins in a shopping cart

The cryptocurrency market has dropped sharply over the past week, with more than $500 billion wiped out from the global market cap within the period under consideration. As experienced investors can tell, a market correction typically presents buying opportunities and a chance to accumulate coins at cheap prices.

However, investors may be relatively divided on what coins to buy to maximize their profit potential. In this article, we look at three coins investors could buy. As always, this is not to be construed as investment advice, and investors must do their own research before making an investment decision.

Top Three Coins to Buy This Crypto Market Correction

  • Bitcoin (BTC)

The most obvious choice, the leading cryptocurrency is always a good addition to an investment portfolio, especially on the days when it has had a significant drawdown. Bitcoin has dropped nearly 7% in the past 24 hours and 13% in the past seven days.

If you liked the cryptocurrency at its all-time high almost two months ago, then you should love it at well under $60,000, or more than 22% below its highs. When the recent Bitcoin halving begins to create a historical imbalance between demand and supply, BTC could quickly see a turnaround in fortunes. There is no guarantee when this could happen, but history favors a reversal in under a few months.

  • Ether (ETH)

Despite underperforming BTC in the most recent bullish market conditions, Ethereum has maintained its place as the second-largest cryptocurrency. It remains the most widely used blockchain in the industry, and while an Ethereum ETF may not materialize in May, the cryptocurrency is almost certain to rebound when market conditions improve.

At its most recent peak, ETH soared as high as $4,000 and has risen by over 50% in the past 12 months. At the same time, the coin is still trading more than 40% below its previous all-time high of $4891. Buying ETH at its current price may be a way to land a nearly 100% gain if the cryptocurrency ventures closer to its past highs.

  • Solana (SOL)

Dubbed the Ethereum killer, Solana has evidently earned its place among the top guns, comfortably ranking within the top five cryptocurrencies by market capitalization. The blockchain boasts a thriving DeFi and NFT ecosystem and has recently solved its congestion woes.

Solana has already set a new all-time high in market capitalization during the most recent market run-up but has faced a huge drawback in line with current market conditions. SOL is currently trading at around $120, a far cry from its $210 peak earlier this year.

If and when the market regains a bullish moment, Solana could see a strong pushback to its most recent highs, making it one of the coins to buy as the crypto market drops at this time. The coin’s total market value is also still worth less than 20% of Ethereum’s market cap, meaning there is significant room for growth.

Rounding Up

As the crypto market undergoes a major correction, various opportunities exist for investors to maximize yield. However, this article lists relatively low-risk exposures that can boost investor returns when market conditions reverse. As usual, investors must do their own research and invest only what they can afford to lose.

Wilfred Michael

Wilfred Michael is a highly experienced cryptocurrency journo. He has spent more than five years covering this exciting new technological space, and relishes the opportunity to play a role in driving what he considers to be the future of finance.