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One of the leading cryptocurrency analysts, Chris Burniske has conveyed a bullish outlook in 2023 despite the banking crisis that caused much upheaval in the beginning of the year. He expressed that while the bank collapses might spread short term volatility in the digital currency environment, the situation is going to turn and become profitable for crypto investors in the long run. Hasty rate hike is the culprit for the banking crisis which according to Burniske can be resolved by adjusting monetary policies. He tweeted that "blockchains are critical infrastructure that provide solutions to the problems our society faces, including AI."
Bitcoin (BTC) got its mojo back in March 2023 after a bleak 2022. It has seen gains of more than 70%, surpassing all other major assets and was trading at its highest in nine months this week. The bank collapse certainly hit the leading coin in the beginning of 2023 but it has bounced back even better.
Bitcoin's core user base of retail investors have been the major driving force behind the bull run. According to CoinShares, BTC investments products witnessed outflows of $113 million favoured by large investors. Some analysts say that Bitcoin's intrinsic characteristics are now totally capable of price support. BTC is currently trading at $27,078 with a market cap of $523.44 Billion. Looking at the figures, the crypto analysts might be right.
Ethereum (ETH) is one of the most technologically advanced cryptocurrencies which is also widely used. ETH has been showing tremendous growth rates in recent years. It is being predicted that 2023 is going to be the year where ETH rises to its full potential. According to price predictions made by analysts, ETH could rise up to $3049 this year.
Ethereum Merge was completed last year. Staked ETH was locked on the network. The upcoming Shanghai upgrade will enable the users to un-stake their staked ETH coins for the first time. The upgrade was first scheduled for March but has now been postponed to April. Currently ETH is priced at $1746.08 with a market cap of $213.67 Billion.
Big Eyes Coin (BIG) is a new altcoin in the meme coin arena. With 80% of the 200 billion BIG tokens available at launch, it is definitely aiming to be one of the coolest cat coins amongst cryptocurrencies that have been historically more dog-themed. Big eyes Coin is in stage 12 of ICO and has raised a whopping $32.53 million. The ICO is soon going to end and launch will certainly lead to an immediate price hike.
The community or Kitty Cuddlers who have supported the meme coin since the beginning already enjoy 390% ROI. If you haven't, all is not lost. Big Eyes Coin is offering the users 250% bonus on all purchases of BIG tokens and the Loot Boxes. One just has to apply the bonus code BULLRUN250 at the checkout for 250% additional BIG tokens. Believe it or not, this crypto cat is on the prowl in 2023.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
