When it comes to cryptocurrency, it is important to know about the alternating values of all different coins. This is done so that traders know about what coins to choose for the next year. The value of coins keeps changing, and it gets hard to predict that way. However, every trader has a way of predicting which coin is going to be the best next year.
One easy and simple way they do this is by looking at the overall value of the coin in the same and previous year. So, for example, if you want to know the value of bitcoin in 2023, then traders will look at the overall rise and fall of bitcoin in the years 2022 as well as 2021. This gives them a good view of the coin and if it will benefit them in the upcoming year.
Here are the top 5 coins you need to invest in 2023
Therefore, the forecast of cryptocurrency for the year 2023 has already started. There are numerous traders who are keeping an eye on several different coins and are marking their value. For now, the KuCoin or KCS is going at the top. This coin comes under the top 5 coins in the world. The forecast claims to say that it will give you profit after a year which is what traders are looking for. Moreover, the second coin is Tether or USDT. This coin has become popular this year, and a lot of people have their eyes on this coin.
Then comes Bitcoin, also known as BTC, which has a rise of 54%. Hence, it is said to be the best for the upcoming year. The 5th position is taken by Ethereum or ETH. ETH has been widely popular since the beginning of 2022, and it also has an ETH wallet. It has always been neck to neck with Bitcoin, which is why people are looking forward to trading with this coin. It has gotten a rise of 75%, which is greater than all the other coins. However, there are other elements as well that you need to look at before you decide on the coin you want to invest in, such as if the coin has Tezos (XTZ) wallet.
Do not trust the predictions.
Getting a forecast of something does not mean that it is going to be 100% true. That is because these things are just predictions. Anything can happen when it comes to crypto because there are no set reasons and categories for how and why the coins change their value. Therefore, as a trader, you need to ensure that you are not completely relying on the forecast predictions of the coins.
However, you can benefit from the forecast because you will have some sort of an idea about the coins and which ones are going to be great to trade with. If you trust the forecast and it turns out to be wrong, then you will be in danger, and you will get all the disadvantages. Therefore, use the forecast as a head-on idea but do not trust it completely.
As a writer, Ruben is an advocate of blockchain technology and cryptocurrency in general. He writes about all things from cryptography to economics, with a focus on how it applies to cryptocurrencies. He is also passionate about writing about topics such as decentralization, open-sourced software development, and copyright law.