Bitcoin, the most valuable cryptocurrency, has currently lost around 62% in value in the current calendar year. With a market dominance of over 38%, Bitcoin reveals to us what is currently going on in the digital currency market. Crypto winter never ends. On the other hand, the current procedure of the Binance crypto exchange shows us that it can definitely get colder before the crypto winter is over. The central banks’ outlook for the coming year also promises well. At least in the first quarter of 2023 or the first half of the year, macroeconomic concerns are likely to continue to weigh on cryptocurrencies. The bear market is likely to continue and a massive recovery seems unlikely in the near term.
But every crisis offers opportunities. In the bear market, new crypto millionaires could be born. Therefore, in the following article, we will take a look at five cryptocurrencies to invest in during the 2023 bear market.
The Best Cryptocurrencies for the 2023 Bear Market
Which cryptocurrency should I buy now? Whether it’s an established core investment or a new crypto pre-sale, investors of all risk appetites will find an exciting coin in the following list that should be worth a look in the bear market of 2023.
1. Fight Out (FGHT)
The new FightOut Coin only started its presale this week and was able to raise over $2 million in a few days. Apparently, the concept will already find favor in the bear market at the end of 2022. Because in the past few days, the crypto market has indeed been hit hard, with negative sentiment permeating the entire digital currency sector. However, the relative strength marked the start of the pre-sale for the promising move-2-earn coin, which offers significant advantages over existing applications in this segment. Because the concept is holistic and will include much more than just tracing the steps. Instead, all sporting activities must be able to be recorded via FightOut.
Those responsible connect state-of-the-art fitness studios with a metaverse app, where a digital avatar shows the athletes’ real progress. At the same time, you can interact in the fitness metaverse and earn rewards with sporting successes. For 2023, FightOut aims to open its first own gym – in a region where the community is particularly active. Therefore, it is now up to the investors themselves to make their own location attractive for a real crypto-gym. At the same time, attractive bonuses in the pre-sale entice, so that with FightOut you could achieve attractive returns in the bear market with timely investment.
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2. Trust wallet tokens (TWT)
A massive corrective move hit Trust Wallet Token (TWT) in the last few weeks. In today’s flash crash, the price development is particularly dramatic.Trust Wallet Token (TWT) falls by around 10% and thus even corrects below the psychologically important limit of $2. This has completely wiped out the price increases from the past month. In the past seven days, there has been a price loss of around a quarter. The discount from ATH obtained a few days ago is 27%. But the current correction may be just right for yield-oriented investors looking to pick up a promising coin in the bear market. Should the bottoming be successful, TWT could also benefit from the trend towards independent storage of cryptocurrencies in the crypto winter of 2023.
3. Bitcoin (BTC)
At the beginning, we already showed Bitcoin as an example of the poor performance of the crypto year 2022. Nevertheless, one could use the bear market of 2023 to accumulate Bitcoin with a valuation that tends to be favorable compared to historical market cycles. The current situation continues to worsen. The FTX crash exposed the problems with centralized crypto service providers – if this trend continues, digital currencies may correct further at worst.
In this regard, Bitcoin acts as a lower-risk fundamental investment, since as a decentralized cryptocurrency with a promising Lightning network, it has the best chance of surviving any bear market. This crypto winter should also remain tradable for Bitcoin, chances are good we will see new all-time highs again – only when, no one knows, although some (supposed) experts have concrete ideas about when. But the macro economy or exogenous shocks, such as the spectacular collapse of the FTX exchange, often thwarted the plan.
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4. Dash 2 Trade (D2T)
Dash 2 Trade could skillfully diversify the crypto portfolio in the 2023 bear market as it acts as a token that benefits from increasing uncertainty. Because Dash 2 Trade creates a versatile platform for professional crypto analysis. Thanks to the multifunctional design, in the future users will be able to access on-chain data, metrics, presale scoring, auto-trading, social sentiment and many other functions.
The ICO is not scheduled to take place until January 2023 – therefore investors still have about three weeks to accumulate the original ERC-20 token cheaply in the presale. At the same time, three CEX listings have already been confirmed. Dash 2 Trade undoubtedly has bullish price potential if you recognize the need for a professional analysis tool that remains affordable for private traders.
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5. Polygon (MATIC)
Cryptocurrency Polygon (MATIC) may be cheap for the last time in the current bear market. Because the leading Layer 2 scaling solution Polygon is undoubtedly one of the projects with the greatest future potential and intact growth. But since the growth at Polygon and the price development have not responded recently, there may be strong catch-up potential here in the next bullrun. If cryptocurrencies continue to correct in the bear market, the continuously announced new collaborations can support the MATIC rate and provide investors with security in the difficult market environment. At the same time, we don’t think it’s impossible that co-founder Sandeep Nailwal will implement his vision and make MATIC a top 3 coin along with BTC and ETH.
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