2022 is the year of correcting the market. The expected outcome is that most non-competitive coins are gone for good, while the middlings received a lower value. Major companies managed to save their projects and keep them developing. Investors still rely on Bitcoin, but it will unlikely skyrocket in 2023.
Nevertheless, Bitcoin will keep the king crown due to being the safest way to go. Considering the number of reliable third-party safety services like Bitcoin Mixer, this coin isn’t going to let you down. The same goes for top altcoins – steady, modest growth. Let’s find out what’s happening with the cryptocurrency market and what coins are best to consider.
What impacts the exchange rate?
The value of coins is not tied to gold or goods, as it is with fiat money. The main factor is the supply and demand ratio on the largest exchanges. Sellers want to get more, and buyers want to pay less. The compromise determines the current value of the coins.
These quotes guide small exchanges, but it takes a certain period of time for the information to reach them. Therefore, in remote locations, the price of cryptocurrencies is always outdated.
There are many more factors that influence the market saturation/depletion process. Consider the main ones:
- Tactics of bulls, bears, whales, and hamsters. So-called holders of cryptographic finance. You can artificially bring down or increase the hype among customers by emptying the crypto-exchange fund or transferring large amounts to it.
- Natural disasters and social upheavals. People tend to convert fiat to crypto to avoid the consequences of a surge in inflation or the physical destruction of money. After things get better, the exchange turns in the opposite direction. Accordingly, coins first rise and then fall in value.
- Decisions of the governments of states that are intensively involved in crypto mining or trading.
- News, rumors, and statements of media personalities.
The best coins to consider
It’s impossible to precisely predict the political and economic environment even for a single year. Social and military conflicts, tornados, or some deep-state upheavals can make all of your predictions crumble. So, you can’t guarantee what coin will bring profits in the long run.
There are many investing strategies, but the final decision should always be yours. You put your own money or reputation on the line, after all. Here are the top 5 cryptocurrencies with the highest chance to succeed.
Bitcoin – the true leader of cryptocurrency trading. Bitcoin can be compared to a star, while the rest coins are its planets. BTC falls are pretty painful, but it bounces back every time. With a proper investing approach, the risk is not that bad.
Ethereum – the second largest coin by capitalization. Its technicians are considered one of the world’s best blockchain specialists. ETH is in high demand among developers and companies for smart contracts and the creation of decentralized applications. Great demand is a solid reason for investing in Ethereum.
Ripple – banking infrastructure favorite. This coin is the basis for the work of financial institutions. Optimistic analysts predict a significant Ripple rise in 2023.
TAMA – one of the most promising investment options from both short-term and long-term perspectives. This project is the gateway token of the Tamaverse. The listing was so successful on the CEX exchanges MEXC and LBank that the token attracted a wide range of buyers.
BNB – one of the most considerable exchange tokens associated with the Binance platform. The exchange is actively expanding – a branch has been opened in Brazil + received permission for trading in New Zealand. These and other factors give BNB a good outlook.
