The crypto market is one that has proven to be incredibly profitable for a large number of people. That said, it’s also one that has its highs and lows. As such, it’s not the right investment opportunity for those who prefer to stay clear of risks. However, if you’re interested in the potential of high returns, then crypto may well be the market for you. In 2023, there are plenty of reasons why this market may be ripe for investment, and these are going to be discussed in more detail below.
More Independent Coins are Being Made Than Ever
2023 is likely going to see the market move in a new direction. With prices reaching lows in 2022 and the market not doing as well, given crypto is constantly developing, there will be more independent tokens which rise up through the ranks. There are plenty of investment opportunities available with these tokens and they are relatively cheap considering that they’re only in their infancy. It’s also easy to have a diversified investment portfolio with different tokens thanks to networks such as Cosmos. You can read more on OKX but essentially, Cosmos has been developed to simplify migration of different tokens on the blockchain.
Prices Are Low, Investment is Accessible
In previous years, investing in some of the larger coins was inaccessible for many given how high some of the prices were. Due to the rocky year crypto had in 2022, this is no longer the case. At its peak, Bitcoin was $70,000 per token and Ethereum was nearly $5000 per token. This has changed today with Bitcoin currently standing at about $21,000 and Ethereum at $1500. If you’ve always wanted to invest in crypto but have been waiting for a time where it is more affordable, then 2023 may just be that time.
The Potential of a Large Upswing
Granted, there’s no certainty when it comes to the crypto market and as such, it’s impossible to guarantee whether and by how much it will recover. That said, the downturn it has found itself in isn’t exactly uncommon in the world of investing and large businesses and tokens have come back from far worse in the past. Take Ethereum for example, back in 2018 its price fell by about 95%. If you had invested in the coin when it was at its lowest, you would have seen returns of 4500% over the next three years. The same could occur with crypto at the moment, meaning the potential upswing you could take advantage of would be lucrative.
Again, as is the case with a lot of markets, it’s hard to tell what the future has in store for crypto and the market may never see a surge like there was in 2020 and 2021 again. However, even if there’s just a small increase in value, if you buy now whilst prices are low, then the upswing could still be very profitable.