Bitcoin, the most valuable cryptocurrency, has currently lost around 62% of its value in the current calendar year. With a market dominance of over 38%, Bitcoin reveals to us what is currently happening in the digital currency market. The crypto winter never ends. In return, the current procedure for the crypto exchange Binance shows us that it could certainly get colder before the end of the crypto winter. Central banks’ outlook for the coming year also bodes well. At least in the first quarter of 2023 or the first half of the year, macroeconomic concerns should continue to weigh on cryptocurrencies. The bear market is expected to continue and a massive rally seems unlikely in the near term.
But every crisis offers opportunities. In the bear market, new crypto millionaires could emerge. Therefore, in the following article, we want to look at five cryptocurrencies to invest in during the bear market of 2023.
The Best Cryptocurrencies for the 2023 Bear Market
What cryptocurrency to buy now? Whether it’s an established basic investment or a new crypto pre-sale, investors of all risk appetites will find an exciting coin in the following list that should be worth a look in the market. bearish of 2023.
1. Fight (FGHT)
The new FightOut Coin only started its presale this week and was able to raise over $2 million in just a few days. Apparently, the concept will already find favor in the bear market at the end of 2022. Because in recent days, the crypto market has actually been hit hard, with negative sentiment permeating the entire digital currency industry. However, relative strength marked the beginning of the presale of the promising move-2-earn coin, which offers significant advantages over existing applications in this segment. Because the concept is holistic and will include much more than just tracking steps. On the contrary, all sports activities should be able to be recorded through FightOut.
These managers link high-end fitness studios to a metaverse app, in which a digital avatar shows athletes’ actual progress. At the same time, you can interact in the fitness metaverse and earn rewards with sports achievements. For 2023, FightOut aims to open its first gym – in an area where the community is particularly active. Therefore, it is now up to the investors themselves to make their own location attractive for a real crypto gym. At the same time, attractive bonuses are waiting for you in the presale, so you can earn attractive returns with FightOut in the bear market with a timely investment.
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2. Trusted Wallet Tokens (TWT)
A massive corrective move has hit the Trust Wallet Token (TWT) over the past few weeks. In today’s flash crash, the price development is particularly dramatic: the Trust Wallet Token (TWT) drops around 10% and even corrects below the psychologically important $2 boundary. This completely wiped out last month’s price gains. Over the past seven days, there have been price losses of around a quarter. The ATH discount reached just a few days ago is 27%. But the current correction could be ideal for yield-oriented investors who want to collect a promising coin in the bear market. If the bottom formation is successful, TWT could also benefit from the independent custody trend of cryptocurrencies during the crypto winter of 2023.
At the beginning, we already showed Bitcoin as an example of the poor performance of the crypto year 2022. Nevertheless, one could use the bear market in 2023 to accumulate Bitcoin with a valuation that tends to be favorable in terms of historical market cycles. The current situation continues to worsen. The FTX crash exposed the problems of centralized crypto service providers – if this development continues, digital currencies could correct further in the worst case.
In this respect, Bitcoin acts as a basic investment with lower risk because as a decentralized cryptocurrency with a promising Lightning Network, it has the best chance of surviving any bear market. This crypto winter should also remain tradable against Bitcoin, there is a good chance that we will see new all-time highs again – only when, no one knows, although some (supposed) experts have concrete ideas about then. But the macroeconomy or exogenous shocks, such as the spectacular collapse of the FTX stock exchange, have often thwarted the plan.
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4. Dash 2 Exchange (D2T)
Dash 2 Trade could ably diversify the crypto portfolio in the bear market of 2023, as it acts as a token that benefits from the growing uncertainty. Because Dash 2 Trade creates a versatile platform for professional crypto analysis. With the multi-functional design, users will be able to access on-chain data, metrics, presale rating, auto-trading, social sentiment, and many more features in the future.
The ICO is not expected to take place until January 2023 – therefore, investors still have around three weeks to accumulate the native ERC-20 token at a lower cost during the presale. At the same time, three CEX listings have already been confirmed. Dash 2 Trade undoubtedly has bullish price potential if you recognize the need for a professional analysis tool that remains affordable for private traders.
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5. Polygon (MATIC)
Cryptocurrency Polygon (MATIC) may last cheap in the current bear market. Because the leading Layer 2 scaling solution, Polygon is undoubtedly one of the projects with the greatest future potential and intact growth. However, given that Polygon’s growth and price action hasn’t matched recently, there could be a lot of catch-up potential here in the next bull run. If cryptocurrencies continue to correct in the bear market, the continuously announced new cooperations could support the MATIC course and give investors security in the difficult market environment. At the same time, we don’t think it’s impossible for co-founder Sandeep Nailwal to implement his vision and make MATIC one of the top 3 coins alongside BTC and ETH.
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