5 Cryptos To Watch As The Bulls Look To Maintain Their Pace -Our Picks
Here are 5 cryptos to watch as the bulls look to maintain their pace in 2023. Continue reading to find a detailed review of each coin.
Bitcoin - All set to lead the bull run in 2023
Ethereum - Poised for a comeback
Solana - A crypto worth watching
Polkadot - The best interoperable blockchain network
Cosmos - Massive upside potential
A Closer Look At The 5 Cryptos To Watch As The Bulls Look To Maintain Their Pace
Timing the market can be challenging because of the high price fluctuations but one of the best ways to ensure profitable returns and reduce risk. Since the crypto market is off to an excellent start in 2023, this is the perfect time to add potential digital assets to your portfolio.
The overall crypto market has surpassed the $800 billion resistance, and investors are hoping for a bullish rally this year. These 5 cryptos are worth watching as the bulls look to maintain their pace in 2023.
Bitcoin (BTC)
Bitcoin is trading at $23,820.56, above its resistance levels of $16k, a positive change in its price since last November. As the bulls are all set to begin their run, BTC is the top crypto to watch out for in 2023. In addition, there are several catalysts for this crypto in the coming years, making it an ideal buy now when the prices are relatively affordable.
One of the key catalysts that must be noticed is its increased adoption, as many countries are planning on making Bitcoin legal tender, following El Salvador. For example, Tonga is all set to adopt Bitcoin as a legal tender this year, which would significantly push its price higher. The halving event, scheduled for 2024, is another reason to be bullish about BTC. Looking at the history of Bitcoin, this event is generally viewed as positive for its price, as it is expected to bring much-needed momentum.
Additionally, the U.S. Fed’s interest rate negotiations can also help Bitcoin maintain its bullish pace and outperform other asset classes. Giant crypto whales have also started accumulating BTC again, making it a crypto worth adding to your portfolio.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum (ETH)
Ethereum has finally managed to break its resistance of $1,600 after months of massive roller coaster rides. This is indeed a positive sign for ETH, making it the best crypto to watch as the bulls look to maintain their pace.
Ethereum has a well-diversified ecosystem within the crypto sphere. Thanks to its functionality with NFTs, DeFi, and Metaverse, the crypto is poised for tremendous growth in 2023. The platform already hosts several metaverse projects like The Sandbox and Decentraland. The Merge has successfully transitioned the network to the energy-efficient Proof-of-Stake mechanism, resulting in a much more sustainable, scalable, and efficient blockchain network.
Now, with Shanghai and Sharding upgrades anticipated for 2023, ETH has a real chance of hitting a new all-time high this year. These network enhancements have set it up for broader adoption, making this the right time to buy ETH.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
While scouting for the cryptos that did extremely well in the last bull run, Solana cannot be overlooked. The platform focuses on DeFi, NFTs, blockchain gaming, and the Metaverse. Solana is also the second-leading player within the NFT marketplace, and its performance has added it to the list of top cryptos to watch closely as the bulls look to maintain their pace.
The team has planned an extensive and unique global tour, known as Solana Hacker House, for 2023. Back in 2022, this tour happened in over 24 cities, involving 12,000 developers and attracting millions of users to the network.
Yet another catalyst to show proof of this crypto’s resurgence is the viral success of the first-ever Solana meme coin, Bonk. It started as a small token of appreciation for community members and was then picked up by the mainstream. This sudden buzz has made SOL the best crypto to add to your watchlist.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polkadot (DOT)
Polkadot is an open-source blockchain technology designed to focus on the formation of a decentralized web that is open-source, fully functional, and user-friendly. The expansion of its DeFi sector and the network’s strong fundamentals have contributed tremendously to the growth of DOT. It is also one of the best interoperable blockchain networks that facilitate data exchanging transaction processing for parachains without compromising their security.
It was the most commonly held liquid asset among hedge fund portfolios and crypto ventures in the first half of 2022. With more partnerships and network developments, DOT is all set to kickstart its rally in 2023 as the bulls look to maintain their pace.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cosmos (ATOM)
Cosmos offers developers a blockchain within an ecosystem where they can seamlessly communicate with each other and send tokens from one blockchain to the other. The crypto is well-known for its revolutionary InterBlockchain Communication (IBC) protocol, a medium through which all other blockchains can communicate and share data.
ATOM, the native token of Cosmos network, is set to begin its bullish rally in 2023. Although trading at $14.81, significantly down from its 2021 all-time high of $44.70, the crypto poses a good buying opportunity for investors.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The Bottomline
These 5 cryptos are worth watching in 2023 as the bulls look to maintain their paces. With their strong fundamentals, growth potential, and use cases, these cryptos are going to be the standouts during the bull run.
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