Cryptocurrency prices have tended to move sideways in recent weeks.
The crypto market is waking up from hibernation. In the last few days, most of the altcoins saw a significant increase in prices. The Bitcoin price also surpassed 17K. Naturally, most cryptos will follow higher as well. What currencies should be bet on in the near future?
Cryptocurrency prices have tended to move sideways in recent weeks. Especially at the end of the year, there was even a slight price drop.
However, the new year got off to a good start for the cryptocurrency market. The prices of many altcoins saw increases of between 5 and 10 percent. The Bitcoin price was also able to rise again from $16,500 to $17,000.
The market is at an inflection point right now. With the FTX crash, the price of Bitcoin fell below the $16,000 mark, and thus was at the lowest point by 2022. Now, the price could rise again in 2023. Alternatively, there could be a more important drop, before things really pick up.
In the coming days, the values of various cryptocurrencies may rise significantly once again, because the $17,000 resistance level is set to be tested again by the bitcoin price. For a few weeks now, this barrier has been consistently repelling Bitcoin.
If this were to happen, it could not only increase the price of Bitcoin, but also the prices of Altcoins. There are certain cryptocurrencies that could rise higher in the coming days and weeks. Listed below are the top three cryptocurrencies to buy in January 2023.
Solana (SOL)
The price of the SOL token has already risen considerably in the last few days. Solana could recover from the FTX crash in the coming weeks when the SOL price lost more than 60%. Now, the change in trend seems to have reached Solana.
In the coming weeks, the price could rise further and return to the value the token had before the FTX crash. Right now, Solana is probably massively undervalued and could go up quite a bit.
Cardano (ADA)
When we talk about an undervalued token, we are not far from Cardano’s ADA. Despite further good developments on the network, the token price has fallen almost continuously in 2022.
In the first few days of the year, the ADA course also increased by a double-digit percentage. Like Solana, this could continue in the coming weeks, and Cardano could soon better represent its value.
Litecoin (LTC)
Litecoin experienced a bit of a resurrection as early as Q4 2022. In recent months and years, things have often calmed down around the altcoin, as new projects seem more exciting. Unlike many other coins, however, Litecoin benefited from the FTX crisis.
As the oldest altcoin and “digital silver”, many investors are learning to appreciate Litecoin more and more in these uncertain times. Above all, the praise from Bitcoin maximalist Michael Saylor in recent weeks has helped Litecoin. It should be one of the cryptocurrencies that can rise considerably in the coming weeks.
By Audy Castaneda
