Unfortunately, over the past few weeks and months, we have seen almost nothing but losses in the crypto market. Bitcoin price has lost more than 75% of its value since its all-time high at the end of 2021. For altcoins, we have seen even greater percentage losses. But we could be at the turning point of the market right now. What are the Altcoins to buy now this Christmas that could make big profits in 2023?
In this article we want to 5 altcoins Look at the things that could still go up in value in 2023 that you could still buy cheap now.
Why might altcoins rise again in 2023?
2022 has not been a good year for Bitcoin and Altcoins. Prices have fallen sharply for both, with Altcoins tending to fall even more than with Bitcoin. The bear market barely had a break last year and we even reached prices below the 2017 bull market.
However, low prices also mean low prices for cryptocurrencies. You can buy Altcoins cheaply. Because in 2023, we might see a rising market again over time, increasing the values of altcoins.
Prices are so low right now that we are most likely at the lowest price point for the current crypto cycle. The year 2023 could already see stronger increases. It should be considered that 4 years ago in 2019, prices rose even more strongly.
What altcoins could you buy for Christmas?
During the holidays in particular, you could take the time to invest more intensively in the market again. We want 5 altcoins imagine things in which it could be interesting to invest:
1. Dogecoin (DOGE)
Dogecoin (DOGE) already experienced a short-term price explosion a few weeks ago. During a brief altcoin rally in late October, the value of Dogecoin more than doubled. Elon Musk’s takeover of Twitter also played a role.
If we see bullish signs in the market again, Dogecoin would likely be one of the Altcoins that could rise particularly strongly. DOGE fan Musk’s control of Twitter may also be fueling the rise in meme proliferation.
2. Gimbal (ADA)
In a bear market, things often get very quiet around Cardano (ADA). The network continues to work to eventually replace Ethereum at the top of efficient smart contract networks in the future. More recently, with the Vasil update, we saw the first steps in scalability optimization.
In bullish phases, the potential of new Cardano network functions often only becomes apparent. Right now, the price of ADA has fallen to such a low level that an investment almost seems like a no-brainer.
3. Polygon (MATIC)
At the end of 2021 and also in 2022, the potential of Polygon (MATIC) was particularly strong. As an Ethereum scaling solution, Polygon is increasingly taking over the dApps market.
However, the rise of the efficient and scalable protocol could gain even more momentum in a bullish phase. Therefore, Polygon’s Matic Token is a good tip for investing among Altcoins.
4. Solana (SOL)
The FTX crisis has probably not damaged any altcoin (except the FTX token) as much as Solana’s SOL. Unfortunately, Solana had closer ties to notorious Sam Bankman-Fried companies FTX and Alameda Research. This caused a particularly sharp collapse in the SOL price.
Among altcoins, SOL might be the most undervalued coin right now. Because the Solana network is still number 2 in the field of NFTs and also has a larger share in DeFi. But NFTs in particular have no hype at the moment. A bull market could be good for Solana.
5. Apecoin (APE)
When we are on undervalued altcoins, we must also talk about Apecoin (APE). Because Apecoin is the native token of the Bored Ape Yacht Club ecosystem. This ecosystem is now one of the largest decentralized networks for Web3, NFTs and games.
Apecoin is listed as the largest Metaverse token, surpassing well-known giants such as Decentraland, The Sandbox, and Axie Infinity. The financial power behind the project is huge with Yuga Labs and BAYC and a bull market should see the price explode further in the future.
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