I have read the reports — both pro and con — for the upcoming. I have seen the charts, surveyed the landscape, and offered my crypto 2023 outlook.
A report released by crypto analytics firm Santiment reveals that over $700 million has recently been invested in crypto.
New to trading? Try crypto trading bots or copy trading on best crypto exchanges
A Nexo report says the whales (deep-pocket investors) sold over $280k in Bitcoin in the past 30 days.
Isn’t that confusing? Do you buy, hodl (hold on for dear life) or sell?
To learn more: To have and to HODL
The cryptoverse will survive
1 — cryptocurrency
Bitcoin
Bitcoin is the king of crypto for a reason. It has remained unchanged since its launch. The price fluctuations only indicate market sentiment. Buy low, recover your initial investment and ride the house.
If history is an indicator, 2023 should see Bitcoin increase before the 2024 halving. Bitcoin should be in your portfolio.
To learn more: You MUST understand this about cryptocurrency trading
Ethereum
Ethereum is positioning itself to be the coin of choice for the cryptoverse. The 2022 Merge and the subsequent upgrades serve to solidify that position. Ethereum should be in your portfolio.
Altcoins
Altcoins will always be highly volatile because of the uncertainty of the venture. New coin offerings are not for low-risk takers but represent the potential for high gains. For newbies, no more than 5% of your investment in these new projects.
My short tenure in the cryptoverse has seen the explosion of the space. I believeYou can find your passion in the following sectors and devote yourself to learning it.
2 — Defi
The Defi space within the cryptoverse continues to grow. The uncertainty of the global economy and traditional centralized finance is causing aggressive investors to look for alternatives.
To learn more: Understanding Decentralized finance (Defi)
Here are some coins in the DeFi sector that may be worth a look:
*Avalanche
**Chainlink
***Maker
****Tezos
*****Uniswap
3 — NFT
*Axie Infinity
**Decentraland
***Sandbox
****Theta Network
*****Tezos
4 — Gaming/Metaverse
*Axie Infinity
**Decentraland
***Enjin Coin
****Star Atlas
*****STEPN
5 — Creativity
New projects will be launched, which means new opportunities will be available.
The bottom line
Investment is about liquidity — the more available money, the investment increases; the less public money decreases.
The global economy continues to be a key player in the investment world. As long as uncertainty prevails, less liquidity will translate to more sell-offs. There will always be exceptions but be assured the movement will be slow, unlike the rocket shots of the past.
Research will be the key to making the right decisions. A strong community can help you avoid the wrong move, potentially costing your investment. Your ability to act quickly (once you have an informed opinion) can mean the difference between a significant return and a small return. Avoid being greedy. Set an exit strategy and stick with it.
The 2023 outlook
1 — stay sharp
2 — stay focused
3 — be ready to move at a moment’s notice
The cryptoverse is here to stay, and it could be for you. Follow along as I learn; you will learn, and we can explore the cryptoverse.
Disclaimer: I am an avid student of all things crypto. The cryptoverse caught my attention when COVID-19 captured the world and locked down the global economy. Since then, I have dedicated a portion of my time to learning about this currency — the currency of the future — and international business. As a writer, I have determined to journal my discoveries. I have chosen to write them in short, bite-sized articles to help anyone interested in learning about this space. These articles are not written in cryptoese or investments but are easy-to-understand articles. I am not offering advice, simply the information I discovered on my unexpected journey into the cryptoverse. There could be something for the seasoned investor to glean from reading, but my focus is on the crypto-curious.
Join Coinmonks Telegram Channel and Youtube Channel get daily Crypto News
