Which Cryptocurrency to Buy Now in 2023

Which Cryptocurrency to Buy Now in 2023

The year 2023 kicked off with a bumpy start, given the heavy load of baggage left behind by its predecessor. The year is certain to become extremely rich with events and everyone who wants to stay on the sidelines can go off and stock up on popcorn. Financial crises, armed conflicts, clashes between superpowers, and the collapses of entire markets – these are just aperitifs of the events that are sure to grace the stage of 2023 as it progresses down the line of dreary days and sunny moments.

Let’s start with a quick look at the legacy left behind by 2022. Tension was already palpable in the air at the very start of 2022, which only erupted into a violent conflict in Europe – the first since the collapse of the Soviet Union. The year then witnessed a flurry of unrestricted, wild hatred and the resurgence of utterly bestial sentiments that were best left dead and buried in the cemetery of the ideologies that had spawned the catastrophe that was World War 2. An unbridled debauchery of sanctions and restrictions followed, all peppered by utterly unprecedented hatred bordering on racism. The result is what happened throughout the year 2022 – a complete reshuffling of political values and allegiances, the collapse of the traditional international system of settlements, and the complete erosion of trust among both nations and individuals.

On the economic frontier only gloom reigned supreme as the financial and banking crises were suddenly replaced by an energy crisis that hammered the global economy. The restrictions imposed on the sale of energy carriers and the threats to impose ludicrous price ceilings did their dreary job as the economy of Europe witnessed hyperinflation, the bankruptcy of industries and facilities that had operated for centuries, and the general decline in the quality of life for average citizens. The combined effects of the actions taken by cuckold governments brought about general misery that only accelerated and multiplied as the year progressed.

Then can 2023 and inherited the heavy load of the past year. Nothing good was to be expected in 2023 and the worst of forecasts for the global economy started coming true very quickly. The collapse of the top three United States Banks resulted in a domino effect that hammered the European banking system and led to the verge of bankruptcy for such seemingly unshakable financial pillars as Credit Suisse. Nothing different was to be expected, considering the utterly ridiculous makeup of the managing teams of the failed banks and the activities they were engaged in at the workplace, forsaking the wellbeing of their investors and depositors.

What is happening now is the consequence and endgame of a systemic crisis that had been raging and gaining prominence over decades. The first knell was sounded in 2008 when the mortgage crisis hit, exposing the vulnerabilities of a system that relied on cheap credits backed by an endless flow of cash printed with no collateral backing. Back then, the crisis was somehow muffled by the ritual sacrifice of several institutions, but that will not work this time around. This time, every institution will have to place its head on the block, since they all form part of a single failing system that relied on the global dominance of the money printer. And that dominance is now waning.

Then came the 2020 pandemic, which was evidently orchestrated to somehow dampen or forestall the impending collapse of the traditional Dollar-based system. The effect was reverse, as the global economy was shattered and states began to revert from the United States Dollar to national currencies for international settlements in a move aimed at solidifying their own economies and transitioning to nationalism and protectionism.

When the pandemic failed to strengthen the existing system and seems to have only accelerated its approach to collapse, the ruling elites undertook to plunge the world into all out war. The result is what we are living through today, witnessing the approaching division of the world into several competing camps, each vying for dominance, but also engaged in fair and unfair competition within the economic arena.

What About Cryptocurrencies?

What about cryptocurrencies? They are just as screwed as the United States Dollar. The prices of most cryptocurrencies started collapsing back in 2022, because the systemic crisis of the traditional economy instantly had a direct and destructive impact on industries that are not essential to the global economy, but are rather superstructures to it.

Indeed, there are fundamental industries and there are superstructure industries. The fundamental ones ensure the ongoing survival of mankind and the perpetuation of its modern way of life. For the sake of illustration, consider a scenario that took place in an extremely light manner in 2020 during the global pandemic. Imagine that the industries of the world ensuring the production of such vital elements as electronics and food supplies suddenly stop functioning. A few days into the halt and the world will reel, riots will erupt, supply chains will collapse, storefronts will go empty, and the traditional way of life will stop.

Now consider a superstructure industry like Fintech or EdTech. How many people in the world will notice if either of them stops working for a day? A few million users worldwide? They will instantly shift their focus during the time of the delay to other, more important affairs. This means that such superstructure industries are not essential and can disappear without much impact, and are little more than artificial and non-essential instruments for a select group of people aiming to profit from them.

The cryptocurrency industry is among the non-essential ones, which is why it was among the first to suffer. The collapse of Terra/Luna, the failure of the FTX exchange and AAX exchange, are all just part of a single string of events.

Which Cryptocurrency to Buy Now?

The tides of the global crisis have somewhat calmed in recent months and a certain, cautious revival is being witnessed on the cryptocurrency market. This raises the question among crypto enthusiasts about which cryptocurrency is best to buy today as an investment. The answer to which cryptocurrency is best to buy today can only be found in the current moment, since prices and sentiments shift dramatically and quickly. In order to determine which cryptocurrency is best to buy now, we have to turn to the available list, which includes the heavyweights:

- Bitcoin;
- Ethereum;
- Tron
- BNB.

If considered from an investment perspective, then users should look at which cryptocurrency can be mined, since that means it is demanded and has a finite supply. But in order to find the best cryptocurrency to invest in, we must look at market demand and the potential for growth. This means that fundamental analysis is vital and users must take into account the potential for dynamics and the associated market risks. The security of your funds is also of paramount importance, since the cases of FTX clearly demonstrate how important it is to have a non-custodial wallet.

As for Bitcoin, this cryptocurrency can be compared to Ethereum as an investment, but it is still not as useful in terms of application in any service. This goes in contrast with Solana and BNB, both of which have applications within their respective platforms and are therefore demanded. In order to find a crypto to invest in, it is necessary to look beyond the price today and examine how much potential for growth there is in a specific cryptocurrency.

Key Takeaways

We are living through a time of tremendous changes that will see the destruction of the traditional system of financial interaction and its replacement with a more diversified one. The advent of cryptocurrencies is a major boost to this transition, since it provides states with the tools necessary to launch stablecoins and central bank decentralized currencies. In light of such a context, it is likely that the best cryptocurrency to invest in has not even yet been fielded and is still in the stages of development on a state level.