Bitcoin bounced back above $50k today. However, the trend looks quite uncertain. Is there any reason to hope that it will not dump again?
Yes, there is a good reason to hope, technically speaking, because a double bottom has formed at $48k (see the Bitcoin chart below), which usually means that the trend is changing. It might become bullish again.
However, fundamentally, there is no good news allowing to breakout the current resistance at $60k+. Bitcoin has pumped too fast in the last few months... Thanks to Elon, and because of him too. Because all the news look like bad news now compared to his $1.5 billion investment 2 months ago.
Therefore, the only way to go out from this $48k-60k+ zone is to get some really good news again... which is not the trend currently since regulators are tightening up the rules, more than ever, with even some cryptobans, e.g. in India and Turkey.
In which crypto should you invest today? If you just want to play short term, you may go on Binance Smart Chain and try to find the next Safemoon. Otherwise, you'd better focus on the coins or tokens bringing a real added value - e.g. DeFi tokens (Uniswap, Sushiswap, Pancakeswap), smart contracts (Ethereum, Solana, Polkadot), utility tokens (Filecoin, Vechain, Theta) or privacy coins (XMR or the less well-known but also really high potential SUTER...).
As usual, it is only my point of view, and I am not a financial advisor. Please do your own research and click on this link to get more insight into cryptos.