The crypto world is always changing. So, what are the most promising cryptos for 2023? Here are the three most promising cryptos for 2023: 1. Bitcoin 2. Ethereum 3. Ripple
Bitcoin
Bitcoin is often seen as a bar of digital gold, as it has a limited supply and is not subject to inflation. Bitcoin can be used to buy goods and services, or it can be used as an investment.
Bitcoin has had a volatile history but has experienced strong growth in recent years. In 2017, the price of Bitcoin rose from $1000 to over $19000 before falling back down to around $8000. Despite this volatility, Bitcoin remains the most well-known and largest cryptocurrency by market capitalization. Invest in BTC through the Bitcoin Storm app.
Ethereum
Ethereum is a platform that runs smart contracts—applications that run exactly as programmed and are free from fraud or third-party interference.
Ethereum is the second most popular cryptocurrency after Bitcoin and has the largest market cap of any altcoin. Ethereum is traded on hundreds of exchanges and can be used to purchase goods and services.
Ethereum was launched in July 2015 with an initial price of $2.83 and reached its all-time high of $1,448 in January 2018. Since then, the price of Ethereum has been on a steady decline, and as of June 2019, it is trading at around $230.
Despite the recent price decline, Ethereum remains one of the most promising cryptocurrencies for several reasons. First, Ethereum has by far the most active development community of any blockchain project. There are currently over 2,000 projects built on Ethereum, ranging from decentralized applications (dapps) to Initial Coin Offerings (ICOs). Second, Ethereum is planning to switch from a proof-of-work (PoW) consensus algorithm to a proof-of-stake (PoS) algorithm in early 2020. This will make Ethereum much more energy efficient and could lead to a resurgence in ETH prices. Finally, Ethereum has real-world usage; it is used by companies like Microsoft and JPMorgan Chase to develop blockchain applications.
Ripple
Ripple is a digital payment network powered by the crypto token XRP. It is one of the most promising cryptos for 2018 because it has the potential to revolutionize global payments. Ripple’s network is already being used by major financial institutions such as American Express and Santander, and its adoption is only expected to grow in the coming years. With its low transaction fees and fast settlement times, Ripple has the potential to become the go-to platform for international money transfers.
Fundamental Analysis of the Top 3 Cryptos
Bitcoin, Ethereum, and Litecoin are currently the top 3 cryptos in terms of market capitalization. All three have different underlying fundamentals that make them unique and promising investments.
Bitcoin is the original cryptocurrency and still the most widely known. It has the largest market cap and is the most traded crypto on exchanges. Bitcoin is also the most secure, with the strongest network effects and the longest track record. Its main advantages are its brand recognition, network effects, security, and decentralization.
Ethereum is a platform for decentralized applications (dapps). It has a much faster transaction speed than Bitcoin and can handle more transactions per second. Ethereum also has a built-in programming language that allows developers to create dapps. Its main advantage is its flexibility and potential for scalability.
Technical Analysis of the Top 3 Cryptos
Bitcoin, Ethereum, and Litecoin are currently the top three cryptocurrencies in terms of market capitalization. Here is a technical analysis of each coin.
Bitcoin:
Bitcoin is currently trading at $9,100. The coin has been on a tear lately, breaking through key resistance levels at $8,000 and $9,000. The next level of resistance to watch for is $10,000. On the downside, support levels are at $8,800 and $8,600.
Ethereum:
Ethereum is currently trading at $700. The coin has been volatile over the past few weeks, however, it has found support at the $700 level. On the upside, Ethereum could test resistance at $725 and $750. On the downside, support levels are at $675 and $650.
Ripple:
ripple is currently trading at a high amount. The coin has been range-bound over the past few weeks between support at $155 and resistance at $165. A breakout above or below these levels could signal further direction for the coin.
