The crypto market faces challenges as SEC Chair Gary Gensler plans to step down on January 20, 2025. Bitcoin struggles to maintain momentum, trading below $100,000. Market uncertainty looms as regulatory shifts are anticipated following Gensler’s departure. Investors are advised to reconsider positions in volatile assets. Below are five crypto to sell that might warrant caution before this transition.
Crypto to Sell Now: Dogecoin (DOGE)
Dogecoin (DOGE), a major meme-based cryptocurrency, has experienced a significant price decline over the past 30 days. The downturn aligns with broader bearish trends in the crypto market. At the time of writing, the DOGE price is trading at $0.3353. Investors are advised to reassess their holdings ahead of potential market shifts.
Dogecoin appears to be forming a selling climax bottom, signaling potential recovery. It continues to hold above a critical support trendline. This secondary test reinforces the structure’s stability, with a possible sign of strength expected soon.
THORChain (RUNE)
THORChain (RUNE), a decentralized liquidity protocol, facilitates secure cross-network cryptocurrency trades, including Bitcoin and Ethereum, without requiring users to relinquish control of their assets.
Currently, the RUNE price is at $3.49, reflecting a daily decline of 7.07%. This downturn mirrors broader market trends. If the downward pressure continues, RUNE could potentially drop to $3.00 in the short term. This positions RUNE as a significant underperformer in today’s market, marking it as one of the crypto to sell now to sidestep losses before Gary Gensler’s departure.
Bittensor (TAO)
Bittensor, an open-source blockchain protocol for decentralized machine learning, has experienced a recent price dip. The TAO price today stands at $444.63, marking a 0.56% decrease within the past 24 hours.
As the broader crypto market faces recovery challenges, investors are re-evaluating their portfolios. Experts highlight potential risks, listing Bittensor among five crypto to sell now to avoid losses before Gary Gensler’s departure impacts the regulatory landscape.
Helium (HNT)
Helium (HNT), a decentralized blockchain network for Internet of Things (IoT) devices, was launched in July 2019. Its mainnet enables low-powered wireless devices to communicate and share data across a distributed network of nodes.
Over the past week, HNT’s price dropped by 10%, reflecting the ongoing bearish trend in the crypto market. In the last 24 hours, the price declined further to $5.63, ranking it among the top losers in today’s market. Helium is now considered a crypto to sell before Gary Gensler’s farewell to mitigate potential losses.
SPX6900
SPX6900, an innovative blockchain cryptography token, offers limitless potential for scientific applications. Currently priced at $1.19, it reflects a 2.71% daily decline. This decrease aligns with the broader bearish market trend, as Bitcoin trades below $100,000.
Analysts suggest SPX6900 is among the top five cryptocurrencies to sell now, ahead of Gary Gensler’s departure, to avoid potential losses.
Gary Gensler’s exit introduces uncertainty, with possible regulatory changes affecting the crypto market. Investors should assess positions in vulnerable assets to mitigate potential risks.
Frequently Asked Questions (FAQs)
It introduces potential regulatory changes, impacting the crypto market outlook.
RUNE faces downward pressure, with potential drops in short-term prices.
Yes, recent price dips and market trends suggest caution is needed.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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