The 5 Best Crypto to Buy in late 2023
The fact that you’re reading this article probably means that you’ve missed out on the opportunity to earn by investing in Bitcoin back in 2018 and again in 2021, when it peaked at over $68k.
Most likely, you’ve passed by the NFT market in the year that followed. But the best part about cryptocurrencies is that you always get second chances.
In the ever-evolving crypto landscape, new opportunities emerge almost every day.
So, it’s never too late to jump on the bandwagon and explore new potential for profit despite missing some earlier milestones.
In this article, we’ll delve into potential investment opportunities and guide you in making informed decisions in the crypto market.
Read on and learn what is the best crypto to buy in late 2023.
The 5 Best Crypto to Buy in Late 2023
In the following lines, we’ll take a closer look at the most promising crypto opportunities that could explode in the near future.
1. Cardano (ADA)
Cardano has been gaining traction ever since it first appeared in 2017. It launched at a price of $0.025 and soon raised over $60 million, which caught investors’ attention on a global scale.
ADA reached its peak in 2021, hitting the $3.10 mark. But what does it mean for an average Joe?
Simply put, if you invested $1,000 in 2017, when the ADA price was $0.025 and sold it at its peak for $3.10 per token, you would have earned a staggering $123,000.
When looking at the Cardano (ADA) price chart, you can notice that it sits around $0.35.
A pessimist would say this is a massive drop from the earlier $3.10.
However, an optimist would consider this an 88.7% discount from its previous peak and exploit a lower entry point as a strategic advantage.
So, should you invest in Cardano before the end of 2023?
The team behind Cardano has announced new updates on the Midnight Network, a privacy-focused blockchain designed to resolve challenges regarding digital privacy.
But that’s not all – the network has announced the launching of DUST, Midnight’s native token.
This raised optimism among countless analysts who predict ADA could potentially break the chain holding it back and surge over the current $0.035 mark.
2. Bitcoin ETF Token
An ETF or Bitcoin Exchange-Traded Fund allows retail and other investors to trade on Bitcoin’s price movement without actually holding the asset.
However, unlike BTC, which is traded on crypto exchanges exclusively, ETFs could also be traded on traditional stock exchanges like Nasdaq or the NYSE.
So, why should you buy an ETF instead of an actual Bitcoin? Getting regular Bitcoin implies you need to create a digital wallet to store purchased coins, much like your physical wallet, where you keep your cash or credit cards.
Moreover, you must find a reliable crypto exchange to purchase Bitcoins and transfer them to your wallet.
ETFs simplify this process, allowing investors to speculate on the price of BTC without having to own a wallet or visit crypto exchanges.
Instead, they can trade on the value of Bitcoin by purchasing tokens in seconds.
Besides being easier to buy and sell, ETFs are a subject of regulatory entities, meaning you can participate in transactions under transparent and standardized regulations, making them especially appealing to potential investors of all experience levels.
Another factor to consider is the upcoming Bitcoin Halving, which could mark the beginning of a new crypto bull run in 2024 and launch the Bitcoin price to a whopping $120,000 by the end of next year.
3. XRP (XRP)
As you already know, many factors can influence the price of a cryptocurrency, as well as any other financial instrument, to go up or down.
But, in this case, a specific event (or a circumstance) could result in a massive price boost.
In December 2020, the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, insisting that XRP was an unregistered security that brought the company over $1.3 billion. Now, why does that matter to potential investors?
To illustrate, after Ripple won part of the case against the SEC on July 13, the price of its native token rose by 75% the same day. The SEC tried to appeal, but the federal judge rejected such a notion.
However, the judge set a new trial date for April 2024, where the Securities and Exchange Commission will receive another chance for appeal.
Should Ripple win this case against the SEC, its price could soar even higher, potentially attracting more investors and instilling confidence in the market.
Given the price of XRP is around $0.60 could mean potential investors are looking into a new window of opportunities.
Conclusion
In the dynamic landscape of cryptocurrencies, predicting the future has always been a challenging task not only for beginners but also for experienced investors.
Some factors like regulatory developments (XRP), market sentiment (Bitcoin ETF), and project updates (Cardano) could provide insights into potential price movements.
Staying informed and understanding key factors can help you make an educated decision.
Finally, it is essential to remember that while the rewards can be significant, the risks are equally substantial. This is why one should only invest what they can afford to lose.
