The year 2022 ended on a rather disappointing note for cryptocurrencies. Bitcoin price remains below the $17,000 mark. At the moment, there are few signs that point to a possible trend reversal. But that doesn’t mean there can’t be anything at stake in January. What are the cryptocurrencies that could make gains in January?
In this article we will have us 3 cryptocurrencies look at how theoretically you could already make a profit in January.
Where will cryptocurrencies be in late 2022/early 2023?
Cryptocurrency prices have tended to fall in recent weeks. Especially after the FTX crash, the tracks had to accept big losses. The market was then able to stabilize at the low level. Altcoins in particular are fighting against Bitcoin at the moment.
After the implosion of the crypto exchange FTX, distrust in the crypto market is still high. Added to this are the ongoing increases in key interest rates from the US central bank, the FED, which have strengthened FIAT currencies and weakened cryptocurrencies.
The bear market has cryptocurrencies firmly in its grip. Nevertheless, there is hope that 2023 can once again be a positive year for the crypto market. We seem to be near the bottom of the crypto cycle and prices may soon bounce back.
Which cryptocurrencies could see setbacks in January 2023?
In the last few weeks, we have therefore hardly seen any stronger price increases on the market, and enthusiasm is low. We still want you 3 cryptocurrencieswhich could already see gains in the coming weeks:
Chainlink is a project that deserves more attention in 2023 and can already see price increases in the next few weeks. It is a decentralized Web3 networkwhich can work with many blockchains and can run smart contracts.
Chainlink plays an important role in Web3 and forms the basis for possible widespread adoption of blockchain and cryptocurrencies. Chainlink is meant to transfer real-life data to the blockchain. January may also soon bring increases in the value of the token.
2. Apecoin (APE)
Bored Ape Yacht Coin (BAYC) has established itself as the largest and most influential NFT pool in recent years. Millions have been sold with the bored monkeys in recent years. BAYC and developer Yuga Labs are now establishing their own metaverse, where the Apecoin acts as a network token.
In the last few months, Apecoin has established itself as the new number 1 among Metaverse tokens. The current price of Apecoin appears to be massively undervalued. The price may rise again in the next few weeks. But not only in the short term, but also in the long term, Apecoin should be one of the cryptocurrencies to watch out for.
Litecoin has become a “new” insider tip in recent weeks. In the aftermath of the FTX crisis, Litecoin fared much better than many other cryptocurrencies. This is also because Litecoin is not a classic Altcoin, but is considered Bitcoin’s “little brother”. The Litecoin network is very similar to the Bitcoin network, but with larger blocks.
The lack of trust in many altcoin projects helps Litecoin. It is seen as a Bitcoin alternative that also stands for stability in difficult times. Furthermore, Michael Saylor, who is usually 100% committed to Bitcoin, starts praising Litecoin, rekindling Bitcoiners’ interest in Litecoin.
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