Blockchain-based currencies represent one of the most popular trading assets in recent years. One of the main reasons for that is high volatility. This feature is the key attribute of cryptocurrencies because it can help traders to determine the right moment to buy or sell. High volume and great popularity are influencing the high volatility, along with many other technical and external factors.
Therefore, it is not a rare case that a unit might change its price several times during the same day, in a range between 10% and 20% on average. The most popular option is Bitcoin, and you can visit bitcoin-eraapp.com to get more info about the changes on the market.
Moreover, it is important to learn more about the factors that are affecting high volatility and how changes of most popular options might affect the whole market. The best example is BTC, which is a leader and has the highest volume. Besides Bitcoin, there are many other excellent trading options as well, and changes related to volatility are frequent all the time. Here are the cryptocurrencies with the highest volatility in 2023.
While BTC is the most valuable option on the market, this cryptocurrency provided much higher profit to investors who have bought it before 2023. The main advantage of ETH is related to technical features, especially when it comes to smart contracts. According to many experts, this crypto has a chance to become even more valuable than BTC in the future.
Still, the main issue is the lack of stability, like with most other options. Frequent changes on both stock and crypto markets are influencing the overall activities of traders, which can directly cause a drop or increase in the value of ETH. When it comes to recent changes, there was a big increase in value during 2023.
However, it followed the drop in the price of BTC and many other cryptos and after reaching the peak value in May 2023, with the price of $3,950, and started falling to around $1,800. After it got stable at around $2,000, it started to rise again, and now the price is over $3,000, and a lot of people are expecting that it will continue to rise. As you can see, these changes represent great potential for investors, but it can be challenging to determine the right moment for investment.
Many traders are looking to be more flexible by investing in different options. If you want to invest in a more affordable cryptocurrency with huge potential, XLM is the best choice. Despite the low price, it is in the top ten assets on this market when it comes to market capitalization. When we compare the trends, there are many similarities with other popular digital assets.
The peak price was also in May at $0.7, and then it dropped to $0.21. However, the value is on the rice in recent months, and the current price is $0.33. Many experts are predicting that it will stabilize at $0.6 by the end of 2023. In that matter, it offers great potential.
A lot of people are having a misconception that the changes are the biggest when it comes to BTC. The reason for that is the value of this digital unit. However, if you bought it before the huge rise in price during 2023, you could earn 300% to 400%, while previous options offered up to 800%. Still, it is very important to follow the trends related to this cryptocurrency even if you are not interested in buying it.
Bitcoin is a leader in this market, and it is not a rare case that its price movements affect many other options as well. If you check the analyses from the previous year, you will notice that most cryptocurrencies started to gain value right after the huge increase in the price of this unit. Bitcoin is the best example of how large investors and their activities can influence the market.
It reached the price of over $60,000 after Elon Musk announced that he had invested $1.5 billion and that Tesla will start accepting payments with it. After he changed his mind and started to talk about the impact of mining on the environment, the price dropped by almost 50%. The most recent news is that he will reconsider accepting it again, which is the main factor for another rise in value.
This is another popular option that is available for a long time. The main feature is that it can serve in international transfers. Therefore, to improve the current banking system. That is the biggest potential of this crypto.
If official financial institutions decide to implement this system, the price will become much higher than it is today. When it comes to trends, there are also the same price movements that can be seen with other options.
One of the main benefits and potential of this virtual token is that there is a limited number of LTC that will be available, 84 million. That might help it to achieve higher stability. When it comes to volatility, again, the trends are the same. The peak price was at $360 in May 2023, while the current price is $168.
The biggest benefits of the NEO platform are smart economy, smart contracts, digital authentication, protection of intellectual property, and much more. In that matter, it is not a surprise for such high popularity in recent years. While current trends are tightly connected to the market and have a great potential to reach a higher value and stability. This is the right moment to buy this cryptocurrency.
The Bottom Line
Before you decide to invest in any of these options, be sure to research the market and find out more about the factors that might affect the drop or increase of values. The main issues are that the market is unpredictable and most predictions that you will find are far from accurate. Therefore, never rush with your actions and always determine your budget and targets.