3 reasons for rising cryptocurrency prices, which altcoins are expected to grow in 2023?

[블록미디어] The virtual currency market showed positive market movements with major coins showing upward movements.

Bitcoin has risen steadily since the beginning of the year and is traded at $21,107, and Ethereum is also traded at $1567.5, up 19.6% in the past week. All of the major cryptocurrencies, including Cardano and Dogecoin, showed upward movements last week.

The virtual currency market capitalization also reached 993.29 billion won, challenging the $1 trillion resistance line. The cryptocurrency market is expected to trade above the 20-day exponential moving average and the 50-day exponential moving average in the short to medium term.

Cryptocurrency market movements are caused by various factors. The reasons include macroeconomic indicators, technical indicators, and the application of blockchain and web 3 technologies in several industries.

# Positive indicators move, announce the start of cryptocurrency rally
One of the biggest reasons for the positive mood of the cryptocurrency market is the announcement of lower-than-expected inflation indicators in December. Expectations that the central bank will ease its high interest rate policy were reflected in the coin and asset markets.

When interest rates are lowered, funds are released in the market, investment in risky assets flows, and a bull market may come. In the current market, the prospect that the virtual currency market will rally will come only when the US Federal Reserve eases the actual high interest rate policy and the inflation rate is controlled. This is why coin investors should pay attention to the trend of inflation and the movements of the US Federal Reserve.

# Feedback according to market performance
At the beginning of 2023, the cryptocurrency market recovered some of the losses of the last crypto winter. One of the reasons for analyzing the rise is that many investors’ expectations of price rise after the decline in 2022 reflect investor sentiment.

Investor sentiment is a major factor in determining the flow of the market. After that, if more investors see this upward movement and investor sentiment improves, we can expect a full-fledged upward rally.

# Practical application of blockchain and web3 technologies continues
One of the reasons for expectations is that blockchain technology and Web 3 technology have begun to be applied in various industries in the real world.

Defi and non-fungible tokens (NFT) are typical examples, and blockchain technology is attracting attention as a new solution by presenting an improved alternative to ‘transparency, security, and accessibility’ compared to the existing centralized system.

Industry application is a factor that can lead to an increase in asset prices independently of the investment market atmosphere. Expanding adoption of blockchain technology increases demand for the underlying digital assets, which can naturally lead to price increases.

# Preparing for the virtual currency bull market, what projects to pay attention to?
The bear market is a good investment opportunity for investors who are new to coin investing. Investing in undervalued projects during a market downturn can generate huge returns in later bull markets.

Investing in pre-sale tokens is one of the meaningful investments in this bear market. It is a kind of seed investment method that invests in pre-IOC, that is, a newly launched project before being listed.

As the pre-sale coin has a high investment risk, it is necessary to carefully analyze various aspects of the project. ‘Reliability of developers, actual use cases, and interest of investors’ should be comprehensively considered.

Meta Masters Guild (MEMAG), Fight Out (FGHT), and C+Charge (CCHG) are among the most anticipated pre-sale projects in the market.

# Meta Masters Guild: Next-generation mobile game ecosystem MMG

Meta Masters Guild(Meta Masters Guild, MMG) is a new gaming guild ecosystem. A decentralized game community is built to provide games from various game developers, and MEMAG coins are paid as rewards for activities. Digital assets within the platform are issued as NFTs, and users have full ownership.

Meta Masters Guild aims to become a sustainable blockchain game platform by providing various games and incentives for users to enjoy.

Users play games on the platform and earn Gems tokens as rewards, which can be used to purchase or exchange game items.

The first game to be released on the platform is Meta Kart Racer, which can be played in PVP mode or solo mode on mobile devices. The Meta Masters Guild team said, “The recently launched MEMAG token pre-sale is a subject of interest among investors.”

# Fight Out: Innovative fitness tracking app

fight outis a fitness tracking app scheduled to be released in 2023, which is planned to make a new difference in the fitness market.

Fight Out provides a customized training program according to the user’s ‘exercise ability, goals, and equipment’. Users can earn REPS tokens by completing workout tasks, which can be used to ‘buy subscriptions, personal training sessions, clothing, supplements’ and more.

Fight Out plans to connect the metaverse and real-world fitness by establishing gyms with Web 3 technology in major cities around the world. A “mirror” installed in the gym reflects the user’s digital profile, and sensors track movements in real time to provide feedback.

Fight Out is also promoting the project by recruiting famous martial arts players such as ‘UFC fighters Amanda Rivas and Tyla Santos, former WBO middleweight champion Savannah Marshall’ as ambassadors.

The Fight Out team said, “The native token FGHT pre-sale has been successful and has already raised more than $2.89 million in investment.” It is advantageous to participate,” he said.

# C+Charge: Eco-friendly coin targeting the electric vehicle market

C+Chargeis an electric vehicle charging station payment system, which provides compensation to users who charge electric vehicles with CCHG tokens at charging stations. It utilizes blockchain technology to improve existing electric vehicle charging services and provide benefits to both electric vehicle users and charging station operators.

The native token CCHG is currently in the early stages of pre-sale. 1CCHG is exchanged at $0.013, and the token price rises to a maximum of $0.02350 as the pre-sale goes through several stages. It is a structure in which incentives are provided as the initial investment increases.

In order to improve investor sentiment in the virtual asset market in 2023, we need to pay attention to the Fed’s perception of inflation and the trend of inflation. Macro indicators and the application of blockchain technology in the market, cryptocurrency investors need to establish a long-term investment strategy while observing these two principles.

#The content above was created with the support of CryptoPR.

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