Unfortunately, the last few months were pretty harsh on the crypto market. Bitcoin price lost more than 75% of its value since its all-time high in late 2021. For altcoins, we saw even bigger losses as part of a pump-and-dump scheme. But today, we could be at a turning point in the market. Which altcoins should you buy today before the new year 2023? Here’s our list of the top 3 altcoins to buy before January 2023.
Are Altcoins Good to Buy before 2023?
The year 2022 was not a good one for both Bitcoin and altcoins. The courses have fallen sharply for both, with the Altcoins tending to be even more so than with Bitcoin. The bear market hardly saw a break last year and we even reached lower prices than in the 2017 bull market.
But low Bitcoin prices also mean low prices for all cryptocurrencies. You can buy Altcoins cheaply, as in 2023 we could see a rising market again over time, increasing the values of the altcoins.
Prices are so low right now that we are very likely at the bottom of prices for the current crypto cycle. The year 2023 could already see stronger increases. We have to consider that 4 years ago in 2019 the prices rose again more strongly.
Which Altcoins could you buy for Christmas?
During the holidays, in particular, you could take the time to invest more intensively in the market again. Here are the top 3 altcoins to buy before January 2023.
1. Dogecoin (DOGE)
Dogecoin (DOGE) already saw a short-term price explosion a few weeks ago. In a brief altcoin rally at the end of October, Dogecoin more than doubled in value. The takeover of Twitter by Elon Musk also played a role. However, the crypto market crashed, causing Dogecoin to follow in its footsteps.
Should the crypto market rebound early next year, Dogecoin should also recover and reach its previous highs from the previous months.
2. Cardano (ADA)
In a bear market, things often get very quiet around Cardano (ADA). The network continues to work on possibly replacing Ethereum at the top of the efficient smart contract networks in the future. Most recently, with the Vasil update, we saw the first steps in optimizing scalability.
In bullish phases, the potential of the new functions of the Cardano network often only becomes apparent. At the moment, the ADA price has fallen to such a low level that an investment almost seems to be a no-brainer.
3. Polygon (MATIC)
At the end of 2021 and also in 2022, the potential of Polygon (MATIC) was particularly strong. As a scaling solution from Ethereum, Polygon is in the process of taking over the dApps market more and more.
However, the rise of the efficient and scalable protocol could gain even more momentum in a bullish phase. Therefore, the Matic Token from Polygon is a hot tip for investing among the Altcoins.
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