This year, the crypto market is experiencing a correction. A typical outcome of this process was the disappearance of a part of non-competitive coins, a decrease in the price of “middle” coins. Large companies have managed to keep their projects and continue their development. “Investors are still pinning their hopes on Bitcoin, but it looks like there will be no mind-blowing rise of the “king of coins”.
Altcoins that are at the top of the ratings feel more or less confident, ”says Alexander Khoroshev, junior assistant to the editor-in-chief of the Crypto.ru Internet portal. He believes that in 2023 it is worth paying attention to a number of young projects that have managed to grow in price and have no prerequisites for slowing down.
Cryptocurrency exchange rate at present
— One of the main features of cryptocoins is volatility. This property characterizes the frequency of changes in the value of coins. The difference between rise/fall is often so palpable that a well-timed buy/sell operation brings a tangible profit.
In order not to miss a profitable moment, traders monitor the current rate on popular crypto exchanges or other sources in order to choose the right cryptocurrencies for investment, without unnecessary risks, since unverified services can be deceiving. As a rule, the list of cryptocurrencies is presented in the form of a table. After the name of the coin, its main characteristics are given:
Often, when you hover over a line, a chart appears that more accurately determines the price at the right time.
Due to high volatility, changes occur every second. Therefore, they track the weighted average and online course. In the first case, this is the weighted average for the last 24 hours, in the second case, for the last seconds. Both values are of interest to different groups of cryptocurrency holders:
Traders. They trade pairs of coins on exchanges. Profit is the difference between the buying and selling rates. Therefore, real-time quotes are crucial for concluding a successful transaction.
Investors. Their task is to invest in projects created on the blockchain. Such activity is not trading – profit does not come immediately, but in the future. Investors are interested in the dynamics of the exchange rate over long periods of time – a month, six months or more.
For beginner investors and traders, the exchanges they trade on will be a suitable option for price tracking. This does not mean that you have to sit at the computer around the clock to calculate the right moment for the transaction. You can install applications on your smartphone that monitor automatically. In the settings, they set the name of the crypt, the desired cost values. The program will send a signal at the right time.
What influences the exchange rate
The value of coins is not tied to gold or goods, as is the case with fiat money. The main factor is the ratio of supply and demand on the largest exchanges. Sellers want to get more, buyers want to pay less. The compromise between them determines the current value of the coins. Small sites are guided by these quotes, but information goes to them for some time. Therefore, in remote locations, the price of the crypt is always outdated.
There are many more factors that influence the process of market saturation/depletion. Consider the main ones:
Tactics of bulls, bears, whales and hamsters. So called holders of cryptographic finance. By emptying the crypto-exchange fund or transferring large amounts to it, you can artificially bring down or increase the hype among customers.
Natural disasters, social upheavals. To avoid the consequences of a surge in inflation or the physical destruction of money, people convert fiat to crypto. After stabilization of the position, the exchange turns in the opposite direction. Accordingly, there is a rise, then a fall of tokens.
Decisions of the governments of those states in whose territories mining or trading is intensively carried out.
News, rumors, statements of media personalities.
Cryptocurrencies for investment in 2023
It is impossible to absolutely accurately predict the political and economic situation for the future. Social and military conflicts, devastating typhoons, the actions of major players can make adjustments unexpectedly. Therefore, it is impossible to determine with certainty which type of crypto is guaranteed to bring profit to the investor over the distance. There are many strategies for profitable investments, but each player must carefully analyze and make their own decision on the placement of their own funds.
Experts recommend creating an investment portfolio in which proven coins and promising new projects should be placed:
Bitcoin is the leader in cryptocurrency trading. It can be compared with a planet, the rest of the coins – with asteroids. Falls of the cue ball are painful, but each time it rises to new horizons. With skillful injections, the risk of losing funds will not be very high.
Ethereum is second in terms of capitalization. The team of programmers and cryptographers is considered one of the best in the field of blockchain. A test version of the Ethereum 2.0 update has already been launched. Switching to staking will reduce emissions by 2.5%. ETH is acquired by developers and companies for settlements under smart contracts, creation of decentralized applications. Great demand is one of the reasons for investment.
Ripple is the king of banking infrastructure. The project is the basis for the work of financial institutions. Optimistic analysts predict a significant rise at the end of the current – beginning of next year.
TAMA is one of the best investment options for different periods. It is the token of the Tama Doge gaming platform. The listing on the CEX exchanges MEXC and LBank was so successful that the token was of interest to a wide range of buyers.
BNB is one of the largest exchange tokens pegged to the Binance platform. The exchange is actively expanding – a branch has been opened in Brazil, permission has been received for trading in New Zealand. These and other factors give BNB a good outlook.