In general, 2022 is a year of roller coaster rides, including many major price drops, company bankruptcy, frauds and other fallouts like FTX. The good start of 2023 gives traders and investors renewed hope.
Since November 20, 2021 the cryptocurrency market has exceeded $1 trillion. Bitcoin’s price increased 7.5% in value on 14th January to exceed $21,000, as investors searched for the bottom of inflation. Ether Cardano Dogecoin and other popular cryptocurrencies also experienced huge growth. This increase in the crypto market has raised the question whether it is the beginning of a new crypto jump or just a bubble. What will cryptocurrency news 2023 bring?
A Year For Crypto in 2023?
The future of cryptocurrency remains unknown. However, Bitwise Investment’s team has made ten forecasts for what is likely to happen by 2023.
The market for cryptocurrency will take on a U-shape by 2023.
Compare Fast Crypto Transaction with the Previous Year
Coinbase’s largest user base will return when the cryptocurrency price increases.
Shanghai and Ethereum merging to raise ETH prices
As Ethereum moved from Proof-of Work to Proof-of Stake, the amount of ETH created by Blockchain each day decreased.
The correlation between bitcoin and the stock market will be below 0.5 by 2023.
US Congress to introduce new crypto regulations in 2023
USDC, with its increased transparency and regulations, will surpass USDT by 2023.
Unsafe crypto currencies continue to crash.
Uniswap is expected to be used more than Coinbase for transactions.
Top 5 Cryptocurrencies To Invest In By 2023
The above information shows that the market will continue to grow in 2023, although there may be some changes. There are many different types of cryptocurrency, from Dogecoin, Tether, and Ethereum, which makes it hard for newbies to start in the crypto world. For you to get your bearings we have listed the best coins of 2023, based upon market capitalization. This is the sum total of all coins currently in circulation.
Bitcoin, Ethereum Binance Coin Ripple Bitcoin cash
Bitcoin
Bitcoin, or BTC as it is also known, was created by Satoshi Nakamoto in 2009. Bitcoin (BTC) was suggested to be a digital coin that would serve as an alternative currency to FIAT. Bitcoin’s system is decentralised because it uses open-source technologies. Bitcoins’ price solely varies based on demand and supply.
In January 2023, the average price for a Bitcoin is around $21,157.81. Bitcoin will be skyrocketing in price soon.
Ethereum
Ethereum remains the most popular altcoin. Ethereum’s market cap is second only to bitcoin. Ethereum is decentralized, open-source and supports smart contract technology.
Ethereum, and the price of its coin, ETH in particular will see a tremendous increase by 2023.
Binance coin –
Binance, the world’s largest cryptocurrency exchange has its own native coin called BNB. Binance Coin’s role has grown beyond merely being a trading platform for Binance. Binance includes Binance smartchain, Binance blockchain, Binance academy and Trust wallet.
BNB price was $0.10 only in 2017. BNB was priced at $0.10 in 2017. By the end of January 2023 it had increased to $275. This is a 274,694% increase.
Ripple
Ripple solidified their position as the leader in cross-border payments by using XRP. This digital currency can be exchanged for virtually any fiat currency, or even other digital assets.
At the start of 2017, XRP cost $0.006. On Jan. 16, 20,23, the price of XRP reached $0.3955. That’s a gain of 5,715%.
Bitcoin Cash
Bitcoin Cash is the hard fork that happened on 1st August, 2017. Following the introduction, the network awarded every Bitcoin owner with a certain amount of BCH. BCH was designed to overcome Bitcoin’s two biggest problems, which are scaling and high transaction costs.
Bitcoin Cash (BCH), the predicted Bitcoin Cash price, is expected to be at its highest possible level or approximately $162.48.