As we approach 2023, we can start preparing our funds for major crypto investments. The projects are looking as solid as ever, and the crypto crash that occurred a couple of months ago is a distant memory.
While Bitcoin and Ethereum are still the leading figures in every crypto-related conversation, other lesser-known cryptocurrencies are gaining serious traction. Stablecoins have become the go-to investment for risk-averse investors as they are much less volatile than other cryptocurrencies. This is because their value is pegged 1:1 with the US dollar. Being less volatile also means that the chances of high rewards are lower.
But enough about the coins’ descriptions; let’s explore some crypto predictions and help you find the right investments for 2023.
Where to Invest?
If you are wondering where to invest in crypto, you are likely new to the whole scene. Crypto exchanges are the hubs where you can easily inform yourself about crypto projects and make investments.
Some crypto exchanges also enable you to practice your trading strategy with demo accounts. These simulations help hone your trading skills as they present you with real-life scenarios and outcomes without losing funds.
After you find the crypto exchange you want to invest in, you should look for a wallet to store your crypto assets safely.
Ethereum Will Increase in Price
There are many digital coins out there, but it’s a rarity for a coin to serve such a significant purpose in the real world. Ethereum is one of those coins that seems to be shaping the future of the entire crypto market.
Ethereum can process transactions at lighting fast speeds, execute smart contracts, store data for third-party applications, and so much more. On paper, the features of Ethereum seem limitless. As Ethereum 2.0 finally launched, we can expect to see a great increase in price as we progress towards the future.
The Rise of DeFi
DeFi, or decentralized finance, is an exceptional blockchain-based protocol that made serious headway in the past year. The entire sector has a market cap of around $50 billion, and there are more than a thousand various coins trading in this sector.
These coins were designed for monetary purchases and can be considered digital versions of fiat currencies. Some of the most popular DeFi coins are Uniswap and DAI. DeFi can succeed greatly as it sidelines all transaction fees, rendering banks useless.
In the future, we can expect more and more businesses to adopt the DeFi method of payment just to avoid exorbitant transaction fees.
The Return of Bitcoin
On November 8th, 2022, we saw Bitcoin prices fall drastically. Its price fell to $17.000, and many questioned the coin’s future and stability. But we all know that Bitcoin is the leading writer of every rags-to-riches story on the crypto market.
Experts state that the bull run will take place in mid-2024, and we will finally see the potential of Bitcoin unleashed. As the price of Bitcoin is much lower than usual, right now would be the perfect time to enter the game and prepare for the bull run.
If Bitcoin prices go up, you can expect Bitcoin SV to follow suit. Many still believe that the Bitcoin SV development team sticks to the coin’s original vision, which is why it’s still so popular among the public.
As things stand, Bitcoin SV’s current price is hovering at around $45. If you are interested in making your first crypto investment, Bitcoin SV might be one of the best assets for beginners.
Meme Coins Will Be Gone for Good
Meme coins had a serious community following back in the day, but now, investors are only interested in features that ensure profit. Coins such as Dogecoin and Shiba Inu will likely disappear in the near future as even the most loyal members move away from these types of coins.
The Bottom Line
Those were some of the major crypto predictions for 2023. The market is extremely volatile, but every investor keeps a close eye on the calendar, patiently waiting for the arrival of 2024. While these reports of an alleged bull run can be taken with a grain of salt, it’s never wrong to follow the latest trend, as a rumor can fill your crypto wallet.
That said, you should always be careful when investing in crypto, and only invest funds you are prepared to lose.