Why is Crypto Crashing and What Assets to Buy in 2023?2022 appeared to be a challenging year for the crypto industry. When in spring 2022, the Bitcoin rate crashed, all other digital coins showed a price decline, spinning the bearish trend on the market. There are many reasons why the market collapsed. Here are some reasons why the BTC cryptocurrency coin price declined:
- The negative news background and crisis
- FED’s decision to increase interest rates
- Binance stopped BTC withdrawals.
However, we should not forget that the cryptocurrency market always lives through cycles, moving upward and then downward and over again. So even after a significant decline, cryptocurrency rates recover and move up. That is the reason why many people think about buying digital assets now that their rates have been reduced.
Let’s see what the most attractive investment option is during the bear market trend.
Which Cryptocurrency to Buy in 2023?
2023 will possibly be the year if the market trend changes. So it sounds like a good idea to buy assets now and hold them. Looking at the crypto ranking on Coinmarketcap, we can see the leading assets Bitcoin, Ethereum, Tether, etc. Here are less popular yet promising coins to acquire:
- Solana SOL
- Ripple XRP
- Cardano ADA
- Polygon MATIC
- Tron TRX
- Avalanche AVAX
- Chainlink LINK.
You will see all cryptocurrency live prices on Coinmarketcap, or you can register on one of the widespread crypto trading platforms and see crypto charts of any coin you wish to buy. We recommend using the WhiteBIT platform, for it offers a user-friendly and transparent interface, a high level of user safety, protection of personal accounts and numerous trading tools.
To know more about trading and investment, welcome to the WhiteBIT blog, where you will find many helpful guides and articles, coin overviews, competitions, etc.