The popularity of the crypto world has led to the growth of many crypto websites as a guide for many crypto enthusiasts who are inquisitive about brushing up their crypto knowledge be it knowing about XRP price prediction next bull run or the expected XRP price prediction 2050, etc. With the evolution and expansion of the cryptocurrency market which has been in sustaining progress, most investors are now eager to know Bitcoin’s future prospects.
Bitcoin: the dominant crypto coin
Now there is no doubt in saying that the latter crypto holds the status of being a blue-chip cryptocurrency with $1 trillion as its market capitalization. No matter the influence of volatility on the cryptocurrency market, Bitcoin has still shown its worth in being a tough crypto asset that managed to withstand not one but multiple bearish market phases and remained consistent in being a dominant crypto by market cap.Â
Price prediction of BTC in 2023
In recent past years, Bitcoin had been through a clamorous journey, with its value rising close to $65K in April 2021 until it plummeted to $30K in July 2021. Even though cryptocurrency has made a recovery, still, it has been trading at $24K. According to experts’ forecasts, in the coming years, the major crypto will go through a downward price trend.Â
Going by the price prediction of a crypto price tracking website, by the end of 2023 the price of Bitcoin might touch $43,959. Similar forecasts had been done by other analysts, Some even believe that Bitcoin can reach a target of up to $69K.Â
Other alternatives that challenge Bitcoin’s popularity
Bitcoin has been the most popular and dominant crypto which is considered an investment option for many. But do you think it is the only crypto that rules the crypto space? No, not now. And this is all because of a huge cluster of altcoins in the crypto space.Â
Competition is there in every field, and the crypto world is not an exception too. These altcoins have been driving the attention of investors who are seeking them as alternate options for the diversification of their portfolios and capitalization on new opportunities.Â
Ethereum: the closest competitor altcoin to Bitcoin
Ethereum has been known to be the second most popular crypto in the crypto space according to market capitalization. This altcoin is much used for the development of dApps and smart contracts. It did go through price swings, but still, the industry expert is hopeful about its potential for growth and robust basics. Crypto experts are much hopeful for Ethereum emerging as a promising crypto to reach $2K by the 2023 end. And with that, it will become a worthy choice for traders.Â
RenQ: the new rising crypto
Till now Ethereum has been popularly considered the closest and tough competitor to Bitcoin among various altcoins. But now RenQ (RENQ) has also emerged as a new contender. Both these altcoins are expected to provide substantial returns in the future. Talking about RenQ Finance, this alternate coin is grabbing much interest among investors.Â
RenQ Finance is a decentralized finance platform that runs on the Ethereum blockchain offering users speedy and minimum transaction costs. The platform utilizes high-yield rewards via staking and liquidity mining. Its framework has been designed to be compatible with artificial intelligence.Â
Conclusion
Even though Bitcoin remains the top crypto contender according to market cap, investors must also be open to the top alternatives like Ethereum and RenQ Finance as both these seem to be promising crypto projects. Even though there is a possibility to expect the Bitcoin price to rise in the future, still, there is no assurance in the volatile crypto market. Hence, investors must do their research and make wise investment decisions.Â