Interesting Crypto Foresights Entrepreneurs Must Look Out In 2023

Introduction

The first half of 2023 is the time when cryptocurrencies broke out the crypto winter by hitting high prices and more liquidity. As the 3rd quarter begins, the market is gearing up for the next phase. Several events are unfolding in the crypto industry, including the positive resolution of XRP and SEC court issues, and increased crypto adoption across the Gulf and Middle East. With the right choice of actions and clear-cut research, we can predict how the crypto market will move in the next two quarters of 2023 and beyond. 

As a cryptopreneur, it is mandatory to make regular forecastings and predictions of the crypto market. In recent times, the crypto industry is topsy-turving periodically, and it seems unpredictable too. So, it is important for investors, traders, and crypto preneurs to keenly watch the market fluctuations in the upcoming 3rd and final quarter of 2023.

 Being a pioneer in the Crypto industry, Bitdeal's team of experts researched and found that we all can experience some interesting changes in the crypto market in the near future.

This article is going to cover exclusive predictions and forecasts that could make you well-prepared for the upcoming market fluctuations. Let’s explore the crypto market trends below!

 

Top 5 Crypto Forecasts That Can Go Mainstream Within 2023

1. AltCoins Will Outperform Bitcoin

At the beginning of 2023, The BTC price got topped an all-time high of this year at around 32,000 USD. All of a sudden the BTC started to show its bearish face in the past few months. Yet it is not that much low as in 2022 when it stayed under the crypto winter for around a value of 16,000 USD. 

On the other hand, the Altcoins have increased and even outperformed the top crypto Bitcoin. From the beginning of the second half, the Altcoins have started to dominate the BTC with great and best results. The Weekly cryptocurrency charts are also showing that the Altcoins are performing better than the BTC. 

If this status continues, there is a chance that the BTC can drop around 48%, and can gain momentum from that stage. The prediction can become worthless, if the weekly BTC chart tops above 52%,  then the pioneering coin will remain on the top in the upcoming days. 
 

2. Memecoins Will have 50/50 Chances For Success & Failure

The rise of meme-inspired cryptocurrencies, commonly referred to as "meme coins," has been both amusing and controversial. These digital assets often gain popularity due to viral internet trends and social media engagement. However, their long-term success remains uncertain.

Meme coins such as DOGE, Shiba Inu, and more have stayed with the crypto market for a long-term and even taken out the famous coins in terms of sales, price hikes, and liquidity. Still, some meme coins took the crypto market to great hype and disappeared with time. Meme coins such as "Squid" has become famous by following the Netflix drama Squid Game and reached around 75,000% in less than a week, but it has gone and even felt like never existed. 

On the other hand, the recent rockstars Digitoads and PePe and more are becoming successful and many entrepreneurs are adopting them. Thus in our opinion, the meme coins have a 50/50 chance in 2023. But when we think further, memecoin development can go mainstream in the future.

3. DogeCoin Price Will Increase

Dogecoin, created as a joke, surprised the crypto world by gaining significant attention and a dedicated community. Despite its playful origins, Dogecoin has managed to establish itself as a recognizable cryptocurrency. Unfortunately, the coin went to downfall from its all-time high in May 2021.

The DOGE finally gave the greatest comeback after 805 days in July 2023. The break-out from the long-term sleep gave DOGE an upward movement in the crypto market charts. More influence and celebrity adoption over the DOGE coin is increasing gradually. 

The weekly RSI points have moved above 50 for the second time, which happened in the last year October. The resistance of the meme coin doge increased by around 100%, which could lead the DOGE coin to reach the following price.

4. Ethereum Price Can Rise UpTo 10%

Ethereum, often hailed as the pioneer of smart contracts and decentralized applications, remains a critical player in the cryptocurrency ecosystem. But the ETH has fallen since September 2022, which means that the ETH is on a bearish trend. But when you see the ups and downs keenly, it is under a situation known as descending wedge. 

In the history of crypto markets, the descending wedge is always considered a bullish pattern. We can expect the ETH price can increase in the future when it breaks out from the current wedge scenario. There are more notable signs that is notable about the ETH's price break. 

In late June, Ethereum (ETH) experienced a rebound precisely at the support line of the wedge pattern (indicated by the green icon). This rebound led to the recapture of the 0.618 Fibonacci retracement support level. Both of these occurrences are recognized as positive indications of a bullish trend.

If the pattern keeps followed for a long timeframe, then there is a lot of chance that the ETH can gain a hike of around 10% or more. 

5. New Crypto Worldcoin Will Go Mainstream

One of the revolutionary cryptocurrencies Worldcoin got launched in July successfully and it is sending huge waves between tech enthusiasts and crypto entrepreneurs worldwide. The true purpose of the world coin is to assign every human being in the world a digital ID using Iris Biometrics. 

Worldcoin is facing several criticisms such as security, privacy risks, and more. Yet it has reached a market cap of around $267 Million. The WRLD is going to be the future-changing cryptocurrency in the upcoming days of 2023 and beyond with its technology and use cases.

The proof-of-personhood verification with the world coin allows users to send money across borders, and perform more digitalized tasks in the world of Web3 in a more secure manner. The Global adoption of the World coin is increasing rapidly.

Why Entrepreneurs Should Stay Updated With Crypto Trends?

Staying updated with crypto trends is increasingly crucial for entrepreneurs due to the profound impact that cryptocurrencies and blockchain technology are having on various industries. 

• It is essential to make a self-evaluation and own predictions to check how deeply we are connected with the market and trends. 
• Updating your mind and knowledge about the latest crypto market status and forecasts can help in making the right decisions at the right time which results in minimalizing risks and losses. 
• Understanding the predictions and making moves according to that will offer entrepreneurs an early adopter advantage
• Whether you could be a trader or a crypto exchange owner, you can save a lot of investments by following the crypto predictions.
• Allows you to make the move at the right time and stay ahead of the competition.

Wrapping Thoughts

The crypto landscape in the second half of 2023 is expected to be marked by a mix of both continuation and disruption. While established players like Bitcoin and Ethereum will likely maintain their influence, altcoins, meme coins, and potentially new entrants like Worldcoin could introduce exciting shifts in the market. As these forecasts materialize, they have the potential to bring cryptocurrencies further into the mainstream consciousness and reshape the way we view and interact with digital assets.