The entire cryptocurrency market is witnessing a constant decline in the price chart and is drastically affected by significant cryptocurrency events, including popular exchanges and coin crashes. 2022 is facing a crypto winter where major coins like BTC are already in the red, which may be the result of certain macroeconomic factors.
While BTC is currently trading around $16,000 at the time of writing, experts are concerned that it could fall below the $10,000 price mark, especially after the FTX-Binance controversy has raised concerns about the popular coin. In this scenario, many investors turn their attention to new emerging tokens that are effectively well ahead of the sell-off to beat the ongoing bear market.
Some of the coins worth noting in this year’s pre-sale presentations are D2T, TARO, IMPT and RIA – each of which offers unique features and potential to shine in the future, making them the best investment choices until 2023.
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Before we look at the most potential cryptocurrency projects of this year, let’s find out why the crypto market is crashing right now and why BTC is likely to fall below $10,000 in the coming months.
Why is cryptocurrency crashing? Reasons why BTC is falling
While cryptocurrency crashes are nothing new in the digital asset space, there have been some changes when it comes to Bitcoin price swings. What used to be crypto-specific events behind price movements are now becoming macro factors that have a similar impact on global financial markets.
1. The fall of FTX
While there are a number of factors affecting cryptocurrency prices, the latest is undoubtedly the FTX-Binance dispute. One of the major cryptocurrency exchanges, FTX, has almost collapsed. The FTX crash affected the entire market, with major currencies such as BTC falling more than 70% after November 6th.
2. Increasing interest rates
Rising interest rates have been the biggest culprit behind this year’s cryptocurrency crash, as well as the reason why BTC has been in the red lately. Since the pandemic, the United States and other parts of the world have been witnessing record high inflation resulting in price increases.
For this reason, a number of central banks, together with the US Federal Reserve System, have increased interest rates to reduce inflation by reducing the money in circulation. One of the reasons for the continuous drop in BTC prices is undoubtedly the high interest rates that have dictated the performance of cryptocurrency prices this year.
3. The Terra Luna crash
Another reason why BTC is falling in the cryptocurrency market is the withdrawal of the TerraUSD stablecoin from the US dollar, resulting in the devaluation of the Luna cryptocurrency. In mid-2022, LUNA lost more than 95% of its value in a single day, causing many cryptocurrencies to suffer and experience a continuous decline in the price chart.
4. Continued decline in BTC prices
The collapse of LUNA also had quite a strong impact on BTC prices, leading to a permanent decline in BTC prices. From an all-time high of $68,000 in November 2021 to the current trading price of $16,000, BTC prices have fallen by more than 70%.
5. Speculation and manipulation
It is quite common for investors to sell their assets when the cryptocurrency market falls to avoid further losses. This scenario is exacerbated when whales sell their holdings, leading to crypto manipulation and selling a significant portion of assets, driving the market down. The cryptocurrency market then triggers FUD or fear, uncertainty and doubt which further affects the market decline.
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Potential alternatives to be explored before 2023
There’s no denying that the cryptocurrency market has been on a steady decline lately. However, that hasn’t stopped some high-potential coins from emerging this year.
Some of this year’s most potential cryptocurrency projects are in the spotlight of investors.
Dash 2 Trading
Dash 2 Trade is currently one of the best alternatives to look for if you want to participate in various options. Dash 2 Trade is the latest cryptocurrency analytics platform that offers social trading capabilities to help investors make informed decisions.
The Dash 2 Trading platform provides trading signals, alerts for new coin listings and pre-sale releases, social trading options and more to help the trader make better trading decisions, especially in the current turbulent market. The D2T token is currently in its third phase of the presale and has raised over $6 million so far.
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Next on our list is RobotEra, a sandbox-like cryptocurrency where users can pose as robots and build their own planet.
The game allows users to buy lands and create a virtual reality that works within the metaverse. They will also have the opportunity to earn through many activities such as selling ads in their virtual land and paying other players to access them.
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IMPT is another revolutionary cryptocurrency project that combines blockchain technology with carbon offset.
The blockchain project has raised more than $13 million in pre-sale funding and is still attracting investors from around the world to join in making the planet a better place by reducing its carbon footprint.
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Finally, Calvaria is a new P2E card game that many investors have been interested in recently because of its clever ways to encourage mass adoption of cryptocurrency among casual players.
RIA is currently in the pre-sale phase like the rest of the listed coins, which means it is the right time to invest in this nascent token to get the best return on investment.
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The market is definitely going down with major currencies like BTC also suffering. If you are willing to invest in alternative investments such as D2T, TARO, IMPT and RIA, it is the right time to do so before the price increases. Invest now to get these tokens at discounted prices before it’s too late.