Contents of this article:
Cryptocurrency is going through hard times, the market is unstable, and disappointing news regularly appears on the network. But is everything as bad as it might seem at first glance. Let’s try to figure out what will happen to the cryptocurrency.
Which crypto to invest in in 2023?
Now we can observe the correlation between the crypto market and the stock market. Watching the state of the stock markets, investors panic, and this is reflected in the rate of top cryptocurrencies. The Bitcoin exchange rate fell sharply in a short time, followed by altcoins. There are several reasons for the fall, the main of which experts call the political crisis caused by the war in Ukraine, as well as the tightening of US monetary policy.
Experts warn of high risks for investors investing in altcoins. The capitalization of Bitcoin is higher, which indicates its dominance in the market. However, answering the question of what will happen to the cryptocurrency in the near future , experts note that now there is a favorable situation for investing in altcoins. We are talking about coins with good growth points, these include Ethereum, Solana, Binance Coin.
What will happen to Bitcoin?
Despite the depreciation of Bitcoin, this coin occupies a leading position in the market, investors continue to invest in it. To understand what will happen to the cryptocurrency in 2023 , you should familiarize yourself with the forecasts for Bitcoin, because its quotes are reflected in the course of almost all coins.
In the summer of 2021, the growth of Bitcoin amounted to 140%, in parallel with it, the stock market grew. Today, in the summer of 2023, the coin rate has fallen by more than 70% from its peak value. This may indicate that the market is going to the bottom, but after the fall, there is always an increase. Now, many investors in a panic are draining assets, although experts believe that it’s time to buy them. Taking advantage of the current situation, in a few years it is quite possible to increase capital several times over.
Experts say that Bitcoin is unlikely to fall to $10,000. There is such an option, but it is possible with major market manipulations, if top players decide to collapse the course and buy the asset from gullible traders.
To understand what will happen to the cryptocurrency in the future , you need to look into the past. As a rule, after a “bearish” market trend (a gradual and prolonged fall in the exchange rate), a “bullish” one (growth of assets) begins. In a bull market, the Bitcoin price may surpass the previous peak, the same can be expected for Ethereum and other altcoins launched on the coin’s blockchain.
Arguing what will happen to the cryptocurrency in 2023, the media do not please us with good prospects. When Bitcoin lost more than 70% in price, the news feeds were filled with reports of a collapsed market and the approaching death of the cryptocurrency. But, before giving in to panic and selling an asset in a hurry, you should carefully analyze the state of the market, listen to the opinion of top experts, pay attention to the actions of institutionalists.
It is impossible to predict exactly what will happen to the cryptocurrency in the future . It remains to wait, watch the market, adapt to its trends. Despite the difficult period for the crypto market, investors continue to invest in digital assets. If you plan to invest, follow a few simple rules:
Stay up to date with the latest news. Follow the technical updates of companies developing crypto, pay attention to new projects, investments of major industry players.
Monitor the reputation of the developers. High-profile scandals worsen the reputation of projects and undermine investor confidence.
Analyze the project by several parameters. When choosing a crypto for investment, it is worth considering the age of the token, the composition of the development team and the success of their other projects, the course dynamics, capitalization, the size and growth of the community.
Learn more about crypto on the Crypto Crew course! During the training, you will learn to predict on your own in order to understand what will happen to the cryptocurrency in the future , you will be able to choose promising assets for investment, successfully trade on the stock exchange, increasing capital in any market trend.