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The crypto market had a distressing 2023 until it reached the last quarter when it got out of a prolonged bearishness. Driven by a Bitcoin (BTC) price rise, the crypto market recovered some bullishness, which resulted in an investor frenzy that allowed top altcoins such as Tron (TRX) and new entrants such as VC Spectra (SPCT) to offer investors great returns.
Let's explore Bitcoin (BTC), Tron (TRX), and VC Spectra (SPCT) 2023 price activity.
Bitcoin (BTC) and the crypto market suffered a depressing Q3 in 2023 due to macroeconomic conditions that reduced crypto investments. Between July and September, a 12% Bitcoin drop from $30,471 to $ 26,911 deepened the market weakness as altcoin and BTC investors stayed away from the market.
However, the tide turned in Q4 when the SEC decided not to appeal a lawsuit loss against Grayscale Investments in August that sued it for denying them approval to change one of their investment products into a Bitcoin spot ETF. Consequently, the Bitcoin (BTC) price trended upwards as the chances of pending BTC spot ETF applications getting approved rose.
With the likely introduction of Bitcoin spot ETFs, Bitcoin gained 22% from $29,967 to $36,585 between October 1 and November 19. However, in the week of November 12 to 19, Bitcoin (BTC) fell 1.4% from $37,133 to $36,585.
The fall is attributable to the end of the first approval window for the SEC to approve spot ETFs without any approvals. However, Bitcoin (BTC) recovered to change hands at $37,205 on November 20.
The Bitcoin dominance in crypto market is evident as many other top cryptos join the Bitcoin drop. Despite the price drop, analysts suggest now is the best time to buy Bitcoin (BTC) as long-term predictions remain bullish, with a Bitcoin (BTC) halving event scheduled for April 2024.
Consequently, BTC price predictions indicate it may surpass the $40,000 mark in 2023.
For most of 2023, Tron (TRX) has been rangebound, trading between $0.05 to $0.08 from January to September. On October 16, Tron (TRX) became the dominant chain for the settlement of USDT. Consequently, the TRX price spiked 2% from $0.086 to $0.088 on October 17.
Moreover, on October 20, Tron (TRX) broke the $0.08 barrier to start an uptrend. Between October 21 and November 19, Tron (TRX) jumped 14% from $0.090 to $0.103. However, the TRX price fell 5% between November 12 and 19 as the TRX price moved from $0.108 to $0.103.
Despite the TRX price pullback, market analysts consider Tron (TRX) bullish. Consequently, Tron coin price predictions indicate Tron (TRX) could reach $0.12 by the end of the year, making it an ideal investment for 2023.
While considering the best crypto investments in 2023, a new market entrant and unlikely contender is on the list. VC Spectra (SPCT), a new decentralized private equity firm, falls among the best cryptocurrencies to invest in 2023 for its unique and beneficial utility.
The blockchain investment platform brings together worldwide investors to invest in budding web3 and tech ventures. VC Spectra (SPCT) investors purchase its digital currency, SPCT, which enables them to monitor and direct their investments and get dividends from the profits earned.
Crypto market analysts consider VC Spectra (SPCT) a top crypto investment this year for its high ROI. While still in its public presale stage, early VC Spectra (SPCT) investors have made a 725% profit as the price has surged from $0.008 in the first presale stage to $0.066 in the fourth presale stage.
VC Spectra (SPCT) continues to attract new investors with the promise of high profits. The public presale stage ends in stage six at a projected $0.08 price. However, recent price surges indicate the final price may be higher, resulting in reasonable returns for new investors.
Further, investors receive a bonus that increases their VC Spectra (SPCT) holdings.
Presale: https://invest.vcspectra.io/login
Website: https://vcspectra.io/
Twitter: https://twitter.com/spectravcfund
Telegram: https://t.me/VCSpectra
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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 scams, 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.
