Cryptocurrencies are becoming increasingly popular around the world. Part of this is due to the skyrocketing prices of many cryptocurrencies in recent years. However, bitcoin is not the only cryptocurrency on the market. There are now thousands of cryptocurrencies, and new ones are being created every day. But which of these cryptocurrencies might explode next? That’s what a cryptocurrency forecast is for. It helps you invest in BTC EUR, Efirium, or another cryptocurrency. Below is the article, we will tell you what cryptocurrency price forecasts are today.
Projections for this year
There are always two versions of events: positive and negative. The cryptocurrency market depends on many factors. Therefore, it is impossible to predict with one hundred percent certainty whether the result will be positive or negative. But thanks to analytical data, it is possible to perform several types of analysis and predict the result with high probability. Let’s look at two possible outcomes:
- In a pessimistic scenario, Bitcoin could fall in the direction of $10,000-12,000 and thus pull all altcoins with it and cause severe price losses. If Bitcoin drops 50% again, altcoins could even lose 80%.
- In an optimistic scenario, trying to reach new highs again is possible. This would only require the establishment of a new uptrend, which could start in the $25,000 to $30,000 range. In this case, with the help of external factors, such as further adaptation of cryptocurrencies as official means of payment, a new bull market can quickly lead to new historical highs.
Through analysis, we can assume that Bitcoin will hold a neutral position for 2023 and the first half of 2024. This means that current prices are a realistic estimate. In the coming months, bitcoin will fluctuate between $18,000 and $25,000 – we cannot rule out the occasional price drop below that mark or breakout above $25,000.
Cryptocurrency boom in 2023
The crypto market is highly volatile, and successful cryptocurrencies can become shitcoins not even a week later. However, some cryptocurrencies manage to stay on top and make investors rich.
To succeed as a crypto investor, one should always look at the latest cryptocurrency forecasts and be on the lookout for future successful cryptocurrencies. The following cryptocurrencies price today could explode:
- Lucky Block.
- Ethereum.
- BNB.
- Solana.
Remember that the cryptocurrency market depends on the general situation in the world and the demand for a particular currency. You can study cryptocurrency price charts to keep up with the latest changes and draw the correct conclusions.
How to determine the growth of a cryptocurrency by yourself
Before figuring out which cryptocurrency could be the next big winner, it’s helpful to understand why so many investors are attracted to cryptocurrencies. Much of this concerns a fundamental shift in the perception of digital assets.
Many experts believe we are in the early stages of a decade-long transition to digital assets. This evolution from analog to digital has accelerated even more because of COVID-19.
Much public attention is now focused on crypto because of the substantial potential benefits. When trying to identify the next big cryptocurrency, there are two things to remember that are similar to what a stock investor should be: market capitalization and price.
Market capitalization works for crypto because it shows how much has been invested in a given network. Generally, the higher the market capitalization, the more stable the asset, although this also means that the coin has less room for growth. It is also essential to watch the price. It is necessary to analyze its dynamics and the reasons for the fall or growth. There is a pattern to live cryptocurrency prices. You can detect it only with regular analysis.