By EWN • 09 February 2023 • 15:22
Prices are falling. Demand is dropping. There are more zeros, and the graphs look like a danger zone with so much red. These are not the good old days for the market. If you know nothing about investing, this is a frightening time. So, it’s a bear market, and you are a smart investor. What do you do? The first thing is to make sure your portfolio is adequately diversified across a range of asset types, not simply stock market sectors. It’s 2023; your pot should include digital assets, namely cryptocurrencies.
Although it has been around for over 14 years and is currently experiencing a market slump, cryptocurrency still seems to be in a healthy propulsive phase. There are thousands of different cryptocurrencies, ranging from Bitcoin and Ethereum to Dogecoin and Shiba Inu, making it difficult to get started in the world of cryptocurrencies. But fear not, help is here as we consider three coins showing bullish behaviour in a bear market: Polygon (MATIC), Polkadot (DOT), and Big Eyes Coin (BIG).
Last month, Polkadot cost $4.32. Today, it has risen by almost 180% and is currently at $6.68. But will it be able to climb up enough to reach $20 before the end of the year? The general consensus is “maybe, but highly doubtful.” According to Ambcrypto, the most pessimistic scenario values DOT at $5.36 in 2023, a far cry from its previous all-time high in 2021, when the coin was priced at $54.98.
A modestly pessimistic mood pervades the cryptocurrency market. The long-term outlook is however still positive, and DOT may reach $16.94 in 2024. Despite the fact that 2023 is anticipated to be a bearish year for Polkadot, it’s still not too late to purchase the #12 coin in the crypto world right now as the future appears hopeful.
Polkadot is a distinctive blockchain platform with its own native cryptocurrency, called DOT. It was developed by Gavin Wood, a former member of the Ethereum project’s core creators, and was released in 2020.
If a pin dropped, MATIC fans would probably hear it. That’s how quiet things have been for the coin, as few announcements have been made. Still, Polygon’s price is continuously rising and is currently above the $1.20 mark as it advances towards $2.
According to statistics from CoinMarketCap, the leading Layer-2 blockchain has increased by 67% since the year began as the cryptocurrency market continues to rebound from the protracted bear market of 2022.
Solid fundamentals have been credited for Polygon’s rise, and its native token, MATIC, may top $1.50 in February.
Big Eyes Coin (BIG) might just be the next hit meme coin, surpassing the likes of Shiba Inu and Dogecoin with its presale exceeding $24 million already.
The cat-themed coin has been largely popular since its entry into the crypto market, especially amongst the cat-loving community. It doesn’t hurt that this meme coin offers valuable utilities and use cases through their ecosystem and most recent NFT collection, Sushi Crew.
BIG is also serious about protecting the environment. They have made a commitment to donating 5% of their total supply to charities and organisations that protect marine life and safeguard oceans.
The good news is that it’s simpler then you might think to make money during a bear market. Investing in solid coins and holding those equities for the long term is the key, regardless of how the market is performing, since the only thing that matters is that your investments provide good returns over the long term.
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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