Closely following crypto analysts have announced their price targets for these 5 altcoins in 2023.
Ethereum and Bitcoin
According to popular cryptocurrency analyst Miles Deutscher, a resurgence will be seen around Ethereum (ETH). It will then reach 23% at some point in the year. This rate has not been seen since 2018. However, Deutscher believes the market has yet to price the potential of the Merge update. Deutscher stated that in addition to the strength of ETH, Bitcoin will see a temporary rise to $30,000 at some point in the year. However, he predicts that he will not be able to continue at this level. Despite this rise, Deutscher believes that BTC will likely experience some decline in the first half of the year. He also predicts that 2023 could see a cyclical bottom for BTC, given interest rates and current trends in the stock market.
One of the most notable developments in the crypto space in 2023 could be the rise of ZK-rollups and zkEVM. These technologies have the potential to greatly increase the scalability and efficiency of blockchain networks. Renowned analyst Deutscher expects these to be among the top performers in the market. In addition, Deutscher stated that the popularity and value of Layer-2 (L2) protocols will continue to increase. However, it predicts that it will close the gap with Layer-1 (L1) protocols.
XRP and 2 other altcoins
Another important event expected in 2023 is the conclusion of the XRP case. After years of trials, Deutscher wants the case to be settled through settlement. He also stated that he expects a win for XRP to be a win for the entire cryptocurrency market.
Deutscher believes Solana (SOL) has a strong developer ecosystem and community and says it will “not die” in 2023. Meanwhile, he notes that Polygon (MATIC) continues to dominate the business development space in the crypto market. However, many more partnerships are expected to be announced throughout the year.
Hedera comment came from the famous analyst
The pseudonymous analyst, known as Credible, tells his 335,000 Twitter followers that he’s looking for a dollar cost average (DCA) to Hedera (HBAR), which is currently 93% below all-time highs. cryptocoin.com As we mentioned earlier, HBAR is the native token of the Hedera Hashgraph system, which aims to be a faster, more efficient and more secure version of the standard blockchain technology. It uses what is known as the Gossip protocol and includes a Directed Acyclic Graph (DAG) as the backbone of its system.
HBAR is currently valued at just under $1 billion. It also has a maximum supply of 50 billion tokens, of which 25 billion are currently in circulation. While Hedera has a large maximum supply compared to the circulating supply, Credible says that will not be an issue when a bull market arises.