An intensive correction took place in the cryptocurrency market in 2022, such that some tokens disappeared altogether, while others decreased in price. Despite this, the projects are thoroughly controlled by large companies with billions of dollars in income. There are many scenarios that continue to develop even in the correction phase.
Users still continue to believe in bitcoin and its growth, but waiting for a 300% price increase in a short period of time is stupid. If we talk about the future, it is better to focus on new projects, and you should try to invest in them. In the material, we will tell you what will happen to the crypto market in 2023, and in which coins it is worth investing in other than bitcoin. If you don’t want to understand cryptocurrency, you can earn money in another way – for example, try casino online with live dealers.
What to Expect Next: A Crypto Boom Is Coming Soon?
According to a study by Allitd Market Research Corporation and the WhaTech portal, in 2023 there will be an increase in the field of cryptocurrency investments. According to reports, growth will not only occur among coins – there will be more services that will be based on the blockchain. The introduction of this technology to create more secure and flexible financial transactions in the cryptocurrency market will open up more opportunities for users.
The studies also talk about the significant contribution of cryptography to various global industries:
- banking sector;
- real estate;
- digital currency;
- stock market.
About bitcoin
And what about the leader of the crypt – BTC? In 2023, experts predict that the token will reach its maximum peak and will be worth $45,448 apiece. In addition, a significant increase in price support is expected, which will cause the minimum price for the “bitcoin” to be 40,468 dollars, and its average market price will be 43,131 dollars.
Cryptocurrency 2023: what risks should be considered?
Before investing in digital tokens, you should understand the possible risks. Today, this area is not fully regulated, theft and hacking of users’ wallets are not ruled out, although developers are trying to eradicate such situations.
It is important to find the right entry positions in order to buy coins at a bargain price. Beginners often purchase virtual currency at the highest point of its price formation, which is followed by a correction soon. This naturally leads to losses. Experts advise investing in fundamental projects, rather than investing in temporarily popular ones.
Remember that long-term prospects always bring more income, so the lower the cost of innovative ideas, the more likely it is to lose hundreds or even thousands of percent in 2023.
Top 4 cryptocurrencies to invest in in 2023
Today, there are approximately 18 thousand tokens in the cryptocurrency market. Yes, no doubt, some of them will collapse, but there are a number of those that can significantly jump in 2023. We talk about the five most promising tokens.
ADA (Cardano)
Now considered one of the most undervalued coins. Approximately 26% of its long-term holders faced losses. This has not happened even during the coronavirus pandemic in 2020. However, the coin is planned to take off in the future.
The main advantage of altcoin over Ethereum is the speed and price of transactions, as well as flexibility for improvement. The current price is $0.4298, and its capitalization is 14.564 billion.
FTM (Fantom)
It is considered a powerful platform that provides for work with smart contracts. Allows you to solve problems of speed and scalability. The current cost of the coin is $0.2278, capitalization is 569.6 million. According to forecasts, the price for it will soon rise to 1,200%.
DYDX
It is considered the native coin of the decentralized platform of the same name. The price for it is $1.23, and its capitalization is $156.2 million. It is predicted that the value will grow up to 2,000% in 3-5 years.
1INCH
An aggregator of decentralized crypto exchanges that combined them into one platform. The project is relatively young, but the number of users will gradually increase. Therefore, it has great potential for development along with the entire cryptocurrency business. Now the price of the coin is $0.576, and its capitalization is 337.39 million. An increase of up to 5,000% is predicted.