While 2021 was one of the glorious years for crypto, 2022 was no less than a nightmare. However with the crypto market gradually coming out of the bearish phase, investors are looking forward to 2023. According to crypto analysts, the crypto market will scale up by around 5x within the coming 7-8 years. The time in between would have crypto prices mostly running low. Crypto assets are currently witnessing a slight surge than May-June 2022 and the trend is expected to continue at least till 2023. The coming will possibly find crypto assets in a better situation than now but the prices will be in dip. Thus, the coming year brings to you a grand opportunity to buy crypto assets at low prices so that you can sell them at higher rates in the coming 4-5 years.
So, which crypto to invest in the coming year? Now, all cryptos can’t be relied on as not every cryptocurrency out there would be able to rise in value in future- in fact, some of them might not sustain the market by 2025-2026 as well. Thus, be extremely careful while choosing crypto for long-term investment.
Top 5 cryptos you can put your money in 2023
Bitcoin
The king of crypto would top the list for obvious reasons.
Bitcoin has always been and would always be your numero uno choice when it comes to crypto investments. There is no denying of the fact that Bitcoin was badly hit by the recent crash- the coin reached its ATH last year, hitting up to $69,000. But in October 2022, the same coin plummeted to below $20,000. In 2023, Bitcoin is expected to reach around $30,000. But by 2025, the coin might surpass the $100,000 mark. So, if you can wait for 2 and half years, you might become a millionaire with BTC.
Now, if you are worried about BTC taking a sharp dip after the crash- well, this is to assure you that BTC had faced decline previously and every time has been able to bounce back with a stellar surge. Crypto analysts are expecting something similar with Bitcoin in the coming years as well. Moreover, Bitcoin will have a mining activity in 2024. It will lead to further decrease in BTC supply and would invariably scale up the coin’s market value. According to experts, in the coming two years, Bitcoin might hit 2x of the coin’s latest value in the near future, to say the least.
Ethereum
Although 2022 had brought in a sharp fall for Ethereum too, the year has been a revolutionary time-period for the 2nd largest crypto. This is the year when ETH officially transcended to the PoS chain from the original PoW chain. It’s a breakthrough development no doubt – many experts are claiming that the recent development might put ETH at par with BTC, if not ahead.
Well, that debate would be for some other day- but as of now, this much is clear that Ethereum is going to experience even higher market value than ever that would eventually rocket up its prices to greater heights altogether. As of October 2022, the ETH price is below $1,500. According to market sources, the coin price might reach $2,000 or slightly more in 2023. By the last lap of 2025, the ETH price might rise up to over $5,000. Moreover, ETH will now also offer you higher staking rewards after the Merge upgrade. So, this is another major reason to put your money in Ethereum.
Cardano
Cardano just had its much awaited Vasil upgrade- the first ever major upgrade for the blockchain. The recent upgrade is expected to amplify the scalability capacity of Cardano network as well as reduce the fees as well. Put simply, thanks to the Vasil fork, Cardano is poised to witness even more popularity in the market and higher market value. Interestingly, just before the upgrade, the Cardano token ADA was hovering around $0.42. Immediately after the fork, the ADA value shot above $0.50. By 2023, ADA is expected to attain around $2.70. And by 2025, you might witness ADA to reach up to $4-$5.
Terra Classic
It might seem to be surprising or shocking but Terra Classic does deserve a mention in the list.
Despite the jaw-dropping crash, Terra has shown huge potential for survival- the crypto is a survivor. It must be mentioned here that Terra has been able to prove its resilience in just a few months after the crash with its accelerated token burning incident. Although Terra is now below $3, the coin is expected to cross $100 by 2023 and stay somewhere near $150. One of the main reasons for its faster recovery is the latest tax protocol that is designed to fire up the token burning process. By the last quarter of 2025, you might expect Terra to cross $200 at least, if not $250.
Cosmos
Cosmos has attained huge popularity among developers for its fully customizable decentralized platform. The portal enables developers to freely develop as well as issue novel blockchain applications conveniently. Cosmos is also fantastic for stakers. It is one of the most high paying cryptos when it comes to staking rewards, offering around 17% APY. The entry price is also low- $0.05 ATOM. It’s self-explanatory why Cosmos will always be a top favorite among the stakers. The coin is currently hovering around less than $12. In 2023, the crypto is expected to touch $18. By 2025, according to experts, the crypto could hit over $40.
Wrapping up
So, you have the list of top 5 highly potential cryptos for 2023. We will wrap up the list with a few tips on investing in crypto.
Please fix a specific budget for crypto investment even if it’s about low-priced cryptos like Cosmos. Do not get emotional while investing or fall prey to FOMO. Just because other investors are pinning their hopes on a particular rising coin, it doesn’t mean you too would have to do it. Always think about your affordability while making a crypto investment. Finally, be careful while choosing a crypto exchange for investment.