Luna is The Top Crypto Crash The top crypto crash to occur was Luna (Terra). After UST, the algorithmic stablecoin of the Terra ecosystem depegged in May, Terra's founder Do Kwon deployed $1.5 billion capital in order to alleviate market concerns.
The prime reason for the market downturn is the downfall of one of the largest global cryptocurrency exchanges, FTX. FTX's bankruptcy, and its spat with Binance, has not only triggered a huge sell-off in the market but has also reduced liquidity from the crypto market.
FTX's downfall was the largest and most alarming collapse during 2022 and caused significant after-effects still being felt by the crypto market today. Following the FTX collapse, BlockFi filed for Chapter 11 bankruptcy due to its exposure to FTX as its second largest creditor.
Bitcoin Could Drop to $10K-$12K by Q1 2023, VanEck Says
Bitcoin (BTC), however, could remain under pressure because several miners are likely to go bust, overshadowing improving macroeconomic conditions, according to investment giant VanEck.
A complete Bitcoin crash is highly unlikely, given its growing popularity as an investment asset class and increasingly strengthening fundamentals. Yet, there are some other factors at play here that might threaten Bitcoin's value in the future.
$WSM could reach $1 in 2023, although there are no guarantees. The Wall Street Memes project has already raised over $12.5 million in its presale campaign in just a few weeks.
Binance Coin (BNB) – One Of The Most Demanded Crypto To Soar This Year. Avalanche (AVAX) – The Best Altcoin That Could Bring Big Returns In 2023. Algorand (ALGO) – Best DeFi Coin Set To Explode In Value. Axie Infinity (AXS) – The P2E Game Token With A Highly Promising Future.
Bitcoin (BTC)
Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters. Bitcoin's price has skyrocketed as it's become a household name.
High Growth Crypto Coins and ApeMax: 10 Crypto Coins with 1000x Potential with ApeMax, Big Eyes, Ethereum, Shiba Inu, Chainlink and more.
ApeMax is one of the new and interesting crypto coins to watch in 2023, with its fast-growing crypto presale capturing the attention of eligible buyers. However, predicting which cryptocurrency will explode in the future is extremely challenging due to the highly unpredictable nature of the market.
InQubeta (QUBE), DigiToads (TOADS), Rocket Pool (RPL), Lido (LDO), and Render (RNDR). Each one stands out with innovative features in AI, gaming, DeFi staking, and rendering services, making them top cryptos to buy.
Cathie Wood, founder of Ark Investment Management and longtime champion for cryptocurrency, predicted in 2021 that Bitcoin's value would reach $1 million per coin by 2030.
It is forecast that bitcoin's price will reach a maximum of $214,232.74 USD by 2026. This is followed by a minimum of $181,308.21 USD, with an average price of $186,289.04 USD by 2026. Meanwhile, some experts see more potential in Bitcoin and predict a price of $274,279.582 USD by then.
It's important to note here that Ethereum losing the entirety of its value is highly unlikely, and the same goes for other popular coins like Bitcoin. We've seen many smaller coins drop to zero, especially those with a very short history in the market.
A drop in Bitcoin below $20,000 could trigger large liquidations of leveraged positions, putting more pressure on an asset that has already slumped more than 50% this year, crypto executives said.
While Bitcoin has failed in its stated objectives, it has become a speculative investment. This is puzzling. It has no intrinsic value and is not backed by anything.
Ethereum (ETH) – Best Altcoin To Watch
Unlike Bitcoin, which is primarily a digital currency and store of value, Ethereum serves as a decentralized computing network built on blockchain technology and is a leading DeFi crypto.
We explore five potential crypto game-changers: DigiToads, InQubeta, Chainlink, Hedera, and Cardano. These digital currencies, backed by innovative technologies and strong growth potential, can deliver exponential returns, potentially 100 x returns by 2025.