Will Bitcoin Drop Below $20,000 or Rebound? 4 Hot Crypto Picks That Are Sure to Make Profit in 2023
The crypto market, especially Bitcoin BTC's performance, can be a cruel mistress at times, and unfortunately, we are currently enduring one of those times. As a risk market, and the newest one at that, it is going to be prone to volatility. It is no secret how volatile crypto can be, but if you are smart enough, you can use this in your favor.
Right now, we are going through a bearish patch. As always, BTC tends to be a marker when it comes to the whole market. If crypto's number one currency is suffering it is likely that the whole market is. But why now?
You can never be 100% certain why the market is bearish or bullish, but there is normally one reason that stands out above the rest. Last week brought an end to the worst week for the market this year, so things were not looking too great.
After interest rates reached a 22-year high a few weeks ago, things started looking bearish then, on the 17th of August, rumors started floating around that SpaceX was writing off their Bitcoin holdings. The global stock market is also going through a rough period, so the bearish conditions are a combination of a lot of things.
While things may not be going so well at the top of the market, there are some really promising presales showing some very positive signs that this new cryptocurrencywill make a profit before the end of the year.
Before looking at what makes them a great investment candidate, let's see if Bitcoin will continue to plummet or is a bounce back on the cards for crypto's flagship token.
Brighter Days on The Horizon for BitcoinBelow is the 7-day performance chart for Bitcoin (BTC). Having initially broken the $30k barrier that it struggled to break for so long many thought it would not be long before it returned to $50k however, that was not on the cards. As is always the case, you can never predict exactly how market conditions will pan out.
Luckily for Bitcoin, the Delphi Digital research firm has its back. They have recently published a study that shows that Bitcoin tends to follow a somewhat specific pattern when it comes to its price movement.
If you examine it from the start you can see that after every Bitcoin price peak, there is a price fall, followed by a slow but steady recovery and then this eventually leads to another new all-time high. Of course, there are volatile periods in between these steps but one needs to look at it from a fairly macro viewpoint.
So, if the study is correct we should get a new all-time high around this time next year. While this is good news for the future it does mean a lot of patience is required by investors. Let's look at the projects we mentioned above that should see profit before the end of the year.
Wall Street Memes - Last Chance to Buy Before Listings BeginThe Wall Street Memes ($WSM) presale has been a resounding success, and it is an easy selection for our list. Some may have thought that setting a hard cap at $30 million was way too ambitious, but they have proved any doubters wrong.
We are now just over a month away from listings but investors can still buy it at its final stage price.
The main thing Wall Street Memes has on its side is the huge following it brings to the crypto world. Their online presence has over 1 million followers across their social media platforms and they are a hub of discussion and humor.
A recent announcement that staking will also be available to investors only sweetens the pot. Learn how to buy Wall Street Memes here.
If we are talking about coins that can make an impact before the turn of the year, how about a project that wants to be the fastest crypto to reach a $100 million market cap? That's the ambitious plan that the Sonik Coin (SONIK) project has laid out for itself.
The meme coin looks to be the perfect combination of fun and utility, so we think it could well do it.
Based on Sonic the Hedgehog SEGA's mega-popular character, Sonik is just as fast but maybe a little slower upstairs, but in a hilarious way. Just check out all the original art on the SONIK site.
Adding to this, 40% of the total allocation of coins has been set aside for staking, and we have the perfect combo meme coin that should see big returns before we enter 2024.
Web 3.0 technology is now completely woven into the very fabric of the crypto market. It really does feel like you cannot open a trading platform or crypto website without seeing it used or mentioned in some form or another.
What Launchpad (LPX) has recognized is that we seem to have bypassed the fact that not everyone is a Web 3.0 expert.
The site has ambitious plans to onboard the next 10 million users onto the new technology. Even just a fraction of this will see huge returns for the project.
The site will be a hub for everyone from beginners to experts and will even have trading advice in regards to the best Web 3.0 projects to invest in and even what games to play.
The blockchain gaming universe is exploding, but it still has a long way to go before it reaches the mainstream. A lot of traditional gamers likely are not trying out games because of the fear of the unknown; that is why Pikamoon (PIKA) can be so successful.
The P2E game is inspired by Pokemon, and the creatures in the game, in our opinion, are actually better than some of the new generation Pokemon. The game obviously offers a chance to earn passive income for completing missions, so if it can attract some Pokemon fans, it could be the game that ignites the blockchain industry.
So to finish up, although the market is bearish now for Bitcoin and most other coins, good times aren't far away. While Bitcoin could see an all-time high roughly this time next year there is also profit to be had before that.
Wall Street Memes, Sonik Coin, and Launchpad XYZ, in particular all represent presales that should see a big ROI before the turn of the year and are among the best cryptos to buy now.
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