Mid-2022 marked the beginning of hard times for the crypto market. Bitcoin lost more than half of its price and pulled other altcoins with it. Is it worth buying crypto now or is it better to get rid of it before it hits its bottom? Let’s figure out.
- 1 Is It Worth Investing In Bitcoins And Altcoins In 2023?
- 1.1 Is It Time to Sell Your Crypto Investments?
- 1.2 7 Arguments to Keep Investing in Crypto
- 1.2.1 1. Growth Of The Crypto Market
- 1.2.2 2. Banks Invest In Crypto Or/And Companies That Use Blockchain Technology
- 1.2.3 3. The World’s Largest Companies Are Investing In Cryptocurrencies
- 1.2.4 4. A Number Of Governments Are On Their Way To Legitimizing Cryptocurrencies
- 1.2.5 5. There Is A Correction In The Crypto Market Now
- 1.2.6 6. A Lot Of Services Are Built On Blockchain Technology
- 1.2.7 7. Multiple Tools To Master The Principles Of Investing
- 1.3 Which Crypto to Invest in?
Is It Worth Investing In Bitcoins And Altcoins In 2023?
In times of financial crisis, it is especially important to manage your funds wisely. In an ideal world, it would be preferable to earn income as a result of profitable investments. Cryptocurrency is the asset that people buy and sell, it is always up to date. However, recently there have been changes in its value, which certainly causes concern among investors.
Is It Time to Sell Your Crypto Investments?
Watching the fall of the cryptocurrency exchange rate, some coin holders began to urgently get rid of their assets. A similar situation was observed in the spring of 2021, when the price of Bitcoin halved. At the same time, experienced investors, on the contrary, began to buy up the crypto. Experts believe that this is the only right decision – Bitcoin will gradually recover, and investors will make a profit.
Given the above, it is not advisable to sell your Bitcoins today. Also, if you have money that you are not afraid of losing (since investing is a risk anyway), you can invest in promising altcoins that can skyrocket in the future, like Bitcoin did in its time.
7 Arguments to Keep Investing in Crypto
1. Growth Of The Crypto Market
According to Market Analysis Report, the global cryptocurrency exchange platform market size was valued at $30.18 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 27.8% from 2022 to 2030.
2. Banks Invest In Crypto Or/And Companies That Use Blockchain Technology
55% of the top 100 banks have invested in blockchain and/or digital currency companies, either directly or through affiliated companies. Among the most active investors are KB Financial Group, United Overseas Bank, Citigroup, Goldman Sachs and Commonwealth Bank of Australia.
3. The World’s Largest Companies Are Investing In Cryptocurrencies
These are not just companies, but financial and technology sector professionals who are well versed in the nature of money and technological trends. Among them are: Grayscale, CoinShares, MicroStrategy, Galaxy Digital Holdings, 3iQ, ETC Group Bitcoin ETP, Square Inc, Tesla and others.
4. A Number Of Governments Are On Their Way To Legitimizing Cryptocurrencies
In Germany and Japan, Bitcoin is recognized as a legitimate means of payment. In Switzerland, cryptocurrencies are subject to the same rules as foreign currencies, and Singapore has fully legalized cryptocurrencies.
5. There Is A Correction In The Crypto Market Now
The Bitcoin exchange rate has fallen by more than 2 times from its peak value during its entire existence, which indicates great opportunities to start investing.
6. A Lot Of Services Are Built On Blockchain Technology
This means that the cryptocurrency has practical value and application in the real world. The demand for such services will only increase in the future, and hence their value.
7. Multiple Tools To Master The Principles Of Investing
To build a competent investment strategy, you do not need to have analytical skills, mathematical predisposition and economic education. Exchanges and services often have a lot of instructions to help you make the right investment decisions. For example, you cannot choose between Binance Coin and Cronos coins, a comparative analysis of BNB vs CRO parameters will help you decide.
Which Crypto to Invest in?
Invest in cryptocurrencies with potential for future growth. It can be evaluated through technical and fundamental analysis. Among the most promising are Bitcoin, Ethereum, Litecoin, XRP, Dogecoin, Binance Coin and others. It is recommended not to be limited to investing in one asset. For example, if you once invested a large amount in Polygon, consider swapping some amount of MATIC to KLAY, XRP, DOGE or another crypto. A crypto calculator and a historical price chart will help you evaluate the profitability of the exchange.