The year 2022 was marked by a bearish scenario for the cryptocurrency industry, intensified by a Negative macro backdrop and monetary tightening policies that reduced investor appetite for more volatile equities such as stocks and cryptocurrencies.
José Artur Ribeiro, CEO of Coinext, says that It is always good to remember that the market goes in cycles and that in times of downturns like this, interesting opportunities often arise. to buy strong and promising crypto assets at a lower level.
In this sense, it is important that cryptocurrency investors follow the market and keep the best cryptocurrencies for 2023 on their radar. To help with this task, José highlights some cryptocurrencies worth keeping an eye on this new year:
Also remember that This content should not be considered an investment indication, but an analysis based on the fundamentals and history of the assets..
Bitcoin (BTC)
Bitcoin is the largest cryptocurrency on the market and its fundamentals remain intact.
Throughout 2022, interest in BTC has increased even as the market has crashed, with institutional investors increasing their participation in cryptography, increasing the number of wallets with non-zero Bitcoin balance and the difficulty of mining and network security breaking new records. All this helps to show the strength of Bitcoin as a solid and promising asset.
Considering that in 2023 the monetary policy of the countries in the face of inflation should continue to pressure the price of BTC downwards, the macro scenario places the cryptocurrency at an interesting low level for those who invest in Bitcoin thinking in the long term.
Ethereum (ETH)
Ethereum is the most sought after network by developers of cryptographic projects to create new tokens and decentralized applications. Therefore, anyone who knows the role of the Ethereum ecosystem for the new digital economy understands why it can be interesting to take advantage of the opportunity to buy Ether at a level well below its historical peak, given the relevance of Ethereum to the entire cryptographic ecosystem.
Ethereum has recently gone through a major upgrade, The Merge, which triggered a bullish rally, followed by a correction, and then the crash that affected the entire crypto market. And just like Bitcoin, the global economic scenario should still continue to affect the price of cryptocurrencies in 2023.
Polygon (MATIC)
Polygon is a well-capitalized project that managed to raise large contributions even during the bear market of 2022.. Thus, Polygon stood out as a project that managed to continue developing in the cryptographic winter, launching new technological solutions for the second layer of Blockchain, in addition to generating relevance to attract alliances with the main players in the market, such as Disney, Reddit and Meta (Facebook ). These were some of the main factors that may have contributed to MATIC suffering less from the recession.
According to Ethereum creator Vitalik Buterin himself, after The Merge update, the next phase of the network will likely focus on scalability. And one of the main ways that we currently have to achieve greater scalability is through second layer solutions, such as Polygon itself. With that, in 2023, there may be an appreciation of crypto projects that facilitate the development of applications within the Ethereum network, such as MATIC.
Chainlink (LINK)
LINK staking was recently launched, as part of the Chainlink Economics 2 program, which aims to provide its ecosystem participants with greater security guarantees and increase rewards. received by validator nodes in the network.
In addition, through staking, it will be possible to introduce a reward and punishment system for the nodes that operate on Chainlink, with the aim of ensuring that all of them commit to doing the best possible job for the integrity of the network.
This model would increase the reliability of Chainlink’s oracle service, potentially attracting more customers and investors., driving the adoption of decentralized services and the growth of the Web3 ecosystem in the coming months. Another important point is that staking can be a means to withdraw LINK tokens from the market, decreasing their supply and positively impacting their price.
Litecoin (LTC)
Considering the expectation of growth before the Litecoin halving, scheduled for July 2023, we can find a positive scenario for the coin in the coming months.. Market analysts are already noting that the LTC price is going through the same pre-halving trajectory seen before the 2015 and 2019 halvings, raising the expectation of further price rallies for the cryptocurrency until the end of 2023.
However, everything will continue to depend on the upcoming events in the market as a whole and new data on the macroeconomic scenario.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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