Bitcoin could fall below $10,000 in 2023, but some cryptocurrencies are predicted to rise

The fall of bitcoin

At the beginning of December, bitcoin rose and began trading at a price of $17.3 thousand. However, over longer time periods, the first cryptocurrency shows a decline in the rate: bitcoin fell by almost 20% in a month, by 45% in six months, and by 66% in a year.

Many experts believe that the growth will be short-lived, and give a pessimistic forecast of bitcoin price for 2023, believing that digital gold may fall to $10 thousand or even lower. But there are altcoins that analysts predict stable growth. The article will tell you which cryptocurrencies will increase in value.

Reasons why the price of bitcoin is falling

To a significant decrease in the cost of bitcoin led to a whole set of circumstances:

  • Tightening US monetary policy has reduced the potential return on assets and pushed people to convert their existing bitcoins into fiat.
  • Fear over geopolitical instability has caused long-term investors to sell risky assets, which includes bitcoin.
  • The fall of a major cryptocurrency exchange like FTX had a negative impact on the entire cryptocurrency market and bitcoin in particular.

In addition, analysts point out that the long-term bitcoin price forecast is proving to be bearish due to the coin’s shortcomings such as high energy costs and low transaction speed. At times, new alternative tokens help to make transactions faster and cheaper. Such a feature is called energy efficiency.

Which altcoins are growing in value

If bitcoin was once a real breakthrough, it is now being supplanted by altcoins, which have much more value for users. That’s why most analysts give a bearish forecast for the price of digital gold. Investors should consider investing in alternative promising cryptocurrencies, which are able to show good growth in the near future.

To understand which digital coins will grow in value in 2023, you need to make sure that the project behind them has a solid foundation, an experienced team and real utility. In addition, it will be a big plus if the startup has already managed to raise significant seed capital. It is also worth remembering that with the ongoing bear market, it is wise to diversify your investment portfolio. By investing in a variety of alternative tokens, you can mitigate the effects of volatility in any given market sector.

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FGHT token

FightOut is a new fitness platform that combines an app with built-in Move-to-Earn mechanics, a meta universe and a network of gyms.

Users who install the FightOut mobile app on their phone, after registering an account, can create an avatar, set a workout goal, post information about fitness experience, preferred types of exercises, etc. In addition, you can track your sleep, food intake and other metrics in the app.

Bitcoin could fall below $10,000 in 2023, but some cryptocurrencies are predicted to rise
Project FightOut

As users complete workouts and tasks, they will earn the app’s internal currency – REPS. It can be used to purchase items in the FightOut store, partially pay for consultations with coaches or subscriptions to the program.

FightOut has also released its own token – FGHT. It can be used for steaking or to get discounts at medical centers, co-working spaces and gyms that cooperate with the platform.

Right now, the FGHT token can be purchased as part of the presale at a price of $0.016. The project has managed to raise almost $2.5 million in investment so far.

Pros of the FightOut project:

  • Individual approach to each user: selection of exercises and workouts based on a person’s capabilities.
  • The app utilizes advanced functionality (GPS to track steps and other physical activity), rewarding all users.
  • Move-to-Earn mechanics, which allows customers to earn in-game currency.
  • The project has already been endorsed by famous martial artists such as boxer Savannah Marshall and MMA fighter Amanda Ribas. They will become the face of the FightOut brand and represent the startup in advertising campaigns.

D2T token

Dash 2 Trade is an innovative platform designed to help traders improve their efficiency and skills. The platform not only provides crypto trading signals and analytics, but also offers many useful features: API for optimizing automated trading, user sentiment tracking, strategy testing, listing alerts, and ICO rating. All features are designed taking into account the tokenomics of the project, developers’ experience, roadmap and other factors.

To get full access to the functionality of Dash 2 Trade, you need to subscribe for D2T tokens created using the Ethereum protocol. The contract code is verified by SolidProof. D2T immediately attracted the attention of investors – only in the first day of pre-sales 400 thousand USDT were invested in the project. At the moment, investments in Dash 2 Trade amount to about 12 million USDT.

Now the last stage of presales is underway, during which users can still buy tokens at a favorable price.

Attractive aspects of D2T:

  • The Dash 2 Trade platform offers the right tools and unique features for crypto trading.
  • Support from a large community of traders.
  • Favorable price of tokens at the presale stage.

RIA token

Calvaria is a new blockchain game with a P2E (“play and earn”) mechanism. The mythology of the game universe, where the action takes place behind the veil of death, immediately captures the imagination. Players are encouraged to build decks of unique NFT battle cards and fight each other in duel mode.

Winners of battles and players who achieve a high ranking during the month are rewarded with RIA tokens. The coins can be spent on strong cards or invested at a steakin’ percentage. Right now, it’s still possible to get RIAs at the presale price. But the presale will end soon, as the project has already raised 2.5 million USDT.

RIA’s Attractions:

  • Players get ownership of their cards and can freely sell them as NFTs on the built-in trading platform.
  • A starter deck is available for free. No digital coin wallet is needed to join Calvaria. Therefore, the project will prove interesting not only for crypto-gamers, but also for fans of computer games who are not well acquainted with digital currencies.
  • Having its own DAO gives the owners of RIA tokens the right to vote, thanks to which the users themselves control the development of the game.

TARO token

RobotEra is a new GameFi project that is eagerly awaited by players and investors alike. RobotEra successfully combines the concept of a meta-universe, the sandbox game genre, the P2E mechanism, and non-replaceable NFT tokens; in the form of which avatars, land, real estate, and many other game objects are issued. Participants are transported to the post-apocalyptic planet of Taro, where they will have to deal with the reconstruction of the destroyed world.

USDT 631 thousand has already been invested in the project during the pre-sale. Despite the bearish cryptocurrency market, investors are now actively buying up TARO tokens, which are not subject to fluctuations, as they are not tied to the bitcoin price. At the end of the pre-sale, the coins can be sold on the exchange, left in an investment portfolio in anticipation of future growth or spent on the purchase of gaming robots, land plots and other items.

Attractive sides of TARO:

  • Addictive gameplay with the ability to engage in building, exploring the universe, completing quests, and the right to participate in cooperative events.
  • A lot of building tools, which will help players to realize a variety of creative ideas and make their objects unique.
  • The right to manage the development of the RobotEra meta-universe for TARO token holders.

Conclusion

Despite the significant drop in the cryptocurrency market, compared to the historical maximum, it would be rash to talk about the end of digital coins. The adoption of cryptocurrencies is increasing day by day, with institutional investors constantly entering the market. Many nations have begun to seriously consider digital coins as a successful alternative to fiat money.

Considering all the factors, it is now profitable to invest in such digital assets and analyze which cheap cryptocurrencies will grow in value. Of course, when investing, you need to be careful – remember the possibility of market pullbacks and do not convert all free funds into one asset. Nevertheless, diversified investments in alternative to bitcoin tokens are quite capable of bringing good profits in 2023.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.

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