The Top Cryptocurrencies  to Invest in 2022/2023

29/11/2022 - Actualizado: 08/01/2023

Top Cryptocurrencies

During 2022, the market for the top cryptocurrencies continues to grow and reach all-time highs. Businesses and people of all kinds around the world are working on economic recovery. This has led to increased interest in the cryptocurrency market, especially in cryptocurrencies that are considered to be the most promising.

The market is positioned as a real opportunity for a centralized financial system. The combined market capitalization has grown exponentially from $432.936 billion in January 2018 to $1.015 trillion in July 2021.

Top Cryptocurrencies  

This reflects a certain stability of the industry, which is becoming an essential part of the world's financial operations every day. However, during the last month of October, cryptocurrencies have experienced a lot of volatility.

Rising inflation has caused a clear drop in the cryptocurrency market in recent weeks. At the same time, the FRS (Federal Reserve System) decided to increase interest rates on loans. This caused all markets, including top cryptocurrencies , to react, forcing investors to sell their assets en masse, causing cryptocurrency prices to fall, as digital assets follow the same supply and demand trading rules.

  1. The Top Cryptocurrencies  in the Market
  2. Bitcoin (BTC), Slowing Down the Fall
  3. Litecoin (LTC), Breaking Supports
  4. Cardano (ADA), The Highest Growth Rate
  5. Bitcoin Cash (BCH), Its Advantage Is Availability
  6. Chainlink (LNK), Why It Is Among the Top cryptocurrencies
  7. Uniswap (UNI), With Some Ups and Downs
  8. How to Invest in Top Cryptocurrencies  with Little Money

The Top Cryptocurrencies  in the Market

The launch of Bitcoin in 2008 revolutionized decentralized payments, generating more than 19,000 cryptocurrencies to date. Since then, the number of these top cryptocurrencies  exchanges has grown significantly, while more and more companies offering cryptocurrency solutions and services have received regulatory approval.

There are so many different types of cryptocurrencies that it can be difficult to distinguish what each one is mostly used for. Currently, there are around 19,000 virtual currencies, and the difference between these cryptocurrencies is the technology they use, the type of encryption they use, and their value prospects in the market.

Ethereum, the Second Place on the Top Cryptocurrencies   

Ethereum has so far operated on a "proof of work" model since its inception. However, the "proof-of-stake" system has always been the main focus, which has recently undergone changes to its model in a move called "The Merge". One month after “The Merge”, adverse conditions in the financial markets prevented the main digital token from escaping the bearish pressure. Since mid-September, Ethereum has not applied its protocol changes to the proof-of-stake model and the price has entered a consolidation trend with a downward bias.

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However, despite the loss in value, Ethereum can still be considered one of the top cryptocurrencies  today. ETH is expected to reach $1,700 by the end of the year and the benefits of “The Merge'' are yet to be seen.

Bitcoin (BTC), Slowing Down the Fall

Bitcoin was created in 2008 by Satoshi Nakamoto, and no one thought it would reach such a high value. In the third week of October, the cryptocurrency was trading at around $19,180.90, which several analysts see as a slowdown in the rate of decline in recent weeks.

The recent pause in Bitcoin's price decline around key support levels has created a feeling that a bottom may be forming, but the worst is not over yet. In the past few months, BTC/USD has found quite strong support at $17,589 (the June low). The weekly chart shows positive momentum deviation (price stagnation correlates with bullish momentum)

Litecoin (LTC), Breaking Supports

It is a peer-to-peer cryptocurrency created in 2011 by a former Google employee, Charlie Lee. Litecoin makes it easy to make instant payments anywhere on the planet at almost no cost. In the third week of October, the cryptocurrency was worth around $51.38.

Even though it is still in the red, Litecoin has been doing well as of late. LTC has broken the support at $50 and is expected to break the current resistance at $55.

Litecoin has seen a correction in value over the past 30 days, but according to AMBCrypto, the cryptocurrency is far from bearish and instead has a few "aces up its sleeve" such as market cap that could provide a potential price.

According to CryptoCompare, a site that specializes in cryptocurrency mining data analysis, the daily win rate for Litecoin mining is 34 percent.

Furthermore, the last three months have also seen a significant hash rate, indicating coins with a strengthened network.

Cardano (ADA), The Highest Growth Rate

Founded in 2017 by Jeremy Wood and Charles Hoskinson (co-founders of Ethereum), it is characterized by the use of mathematical principles in its consensus mechanism. Cardano is one of the top cryptocurrencies  due to having the highest growth rate in the industry, with almost 50 times its value in 2021.

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Cardano released its biggest upgrade to date in September 2022: the Vasil Hard Fork, designed to speed up transaction processing times. This can increase efficiency and reduce costs, so it is expected that the value of cryptocurrencies can increase.

Although Cardano price previously faced bearish resistance, the bullish market managed to push the price above $0.365 in the third week of October when it reached $0.371. The moving average (MA) is at $0.38276.

Bitcoin Cash (BCH), Its Advantage Is Availability

Created in December 2017 to increase the number of transactions processed, it is conceived as a fully decentralized cryptocurrency and payment network. Its price was around $107.83 at the end of October.

Considering the price of Bitcoin Cash and the fact that it can be bought on almost any exchange, one of the main advantages of Bitcoin Cash is its availability. Also, encryption is considered the most scalable, which reduces transaction fees.

BCH recently found support at $100, which can be seen as a strong move that could motivate many traders to try and take advantage of further dips. BCH technical data has hit all-time lows, the MACD looks positive for a breakout, and the RSI is trending negative. The 100 EMA and the shorter 50 day moving average have both pulled back.

Established in 2014 and first launched in 2017. Its founder, Sergey Nazarov, is an entrepreneur with considerable influence in the cryptocurrency market. It is considered one of the top cryptocurrencies  because it is independent of the blockchain platform, more scalable, and low cost.

Its current price is close to $6.9545. In the third week of October, Chainlink's price analysis showed that negative sentiment appeared in the market after the price of LNK broke out into a sideways decline.

LNK has a total trade volume of nearly $288 million and a current market capitalization of $3.44 billion. The digital asset accounts for 3.36% of the entire cryptocurrency market and ranks 22nd according to Coinmarketcap8.

Uniswap (UNI), With Some Ups and Downs

It was created as a project that aims to fulfill two functions: first, as a decentralized exchange (DEX) in the Ethereum ecosystem, and second, as an automated liquidity protocol (Automated Market Maker, or AMM).

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The fact that Uniswap relies on Ethereum and its smart contracts to achieve the above goals ensures that it doesn't need to be centralized to work. Since reaching a high of $9.83 on July 28, 2022, Uniswap has fallen below the descending resistance line.

The trend line also acted as a rejection point, sending UNI lower in the process before breaking below the $5.80 horizontal support zone.

However, it took over this wall of demand soon after, causing the previous breakout to reverse on the 9th day.

In the second week of October, UNI was back to trading around $5.80. This can create strong buying pressure, supporting a breakout opportunity.

How to Invest in Top Cryptocurrencies  with Little Money

Investments often involve large sums of money. Many people think that if they have very limited funds, they have nothing to look for even in an open market like digital assets. But it is possible to invest in the market of the top cryptocurrencies  even without investing much.

Basically, the first recommendation is to try to maximize profits by trying to lower fees, use cheaper networks, or find protocols with competitive benefits in terms of lending.

Second, don't quit your day job. The world of cryptocurrencies is very volatile. While this is mostly due to sudden price changes, the truth is that the same applies to the entire trading environment. It's important that you have multiple sources of income and a steady job that allows you to make smart investments with minimal stress.

These other two considerations have more to do with the psychological approach of the trader's action. First, adopt the attitude of a student, that is, learn from the market with an open mind. The personal process of investigation and learning is key. Each one should do their own research and find the strategy that works best for themselves. Not everyone works or succeeds in the same way.

After all, it's not just about finding the right strategy, it's about sticking to it. Stay true, it all depends on what you want to do in the market and your character.

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