As the popularity grows, crypto has lately become the talk of the town. To date, crypto has entered many big leagues and has the support of many business giants. Almost the entire world has heard about famous digital currencies, from paying for a cup of tea to introducing a crypto-dedicated debit card.

I, for one, believe that it will be the primary mode of transaction in the near future. As more and more people take an interest and the growing advancements within the blockchain discipline, the only foreseeable way for the decentralized currency is upwards.

Although the market has experienced historic crashes and collapses, putting the future aspect in doubt. The numbers and trends are still bright and have the potential to rise, still making it a viable mode of transaction. The latest boom in the market was in the years 2020 and 2021, when Bitcoin reached its all-time high at $68,000. After that, times have not been so good for the market as it has witnessed the heaviest crashes in history. Right now, the market is fluctuating, captivating the attention of investors and the HODLers at a low rate. With that said, following is the prediction of how the market will behave in the coming year (2023) and which coins will prove their dominance.

More Sharks Are Coming

Cryptocurrency has already grabbed the attention of major companies such as Tesla, Coinbase, and Voyager Digital LTD, investing heavily in Bitcoin. Institutions are also next in line when adapting the currency as their source of business transactions. According to the annual fidelity digital assets survey, 74% of institutional investors are looking forward to investing in cryptocurrency in the future. Investors like the Bank of New York Mellon have announced to provide services for Bitcoin due to increasing demand. With institutions jumping into the crypto market, it will have a massive impact and open many doors of positive outcomes.

 Growing Popularity In Tech Circle

Cryptocurrency and tech companies have no unfamiliarity between them as most of the tycoons have already invested in the market. Leading companies like Samsung and Microsoft have laid out plans for increasing their services via bitcoin. Google parent Alphabet has also announced to provide cloud services through Bitcoin and other currencies. Mastercard has also announced to work with Paxos (a crypto firm) to promote crypto trading and investing on their platform.

Speaking of prospects, here are a few predictions regarding some well-known coins that couldn't quite live up to their expectations in the current year—also, a few newcomers that might be the next big thing.

Bitcoin

If Bitcoin doesn't go up, nothing will. For cryptocurrencies to rise up and gain strength, Bitcoin has to top the charts. The current prediction related to Bitcoin is that it can reach $100,000 in 2023. Some other analysts state that it might not go past $70,000. Although it has broken its support zone several times this year, Bitcoin has high hopes to reach its all-time high, considering the increasing demand for EFT and the abovementioned factors.

Ethereum

Ethereum is the second most popular coin after bitcoin. The altcoin has performed much better as compared to BTC in the last two years but has seen the same declines as others. Ethereum is popular due to its compatibility with DeFi, Web3, metaverse projects, and with these projects having a bright future ahead. ETH is certainly the coin to look forward to.

Cosmos

Cosmos is a favorite contender to explode in 2023 due to its advanced functionality. Cosmos offers interoperability services like no other. Interoperability allows different blockchains to share data swiftly across platforms. Cosmos's interoperability solutions make it a popular option for potential investors in the future. It opens many positive prospects for blockchains to collect and share data easily.

UniSwap

Uni is another coin that holds the potential to be one of the top performers in the future. The unique aspect of uni is that it is one of the best DeFi currencies. DeFi (Decentralized finance) allows traders to trade more easily and conveniently than a centralized exchange. This means no third party is involved in the transactions and people have control over the exchange of money. I personally am rooting for uni as it was the standout coin amongst other altcoins.

Having said that, these are still just the prospects of how the market will progress in 2023. I like to believe that 2023 will prove to be another booming year for crypto enthusiasts. We have already seen drastic changes over the years (good and bad), and there is every possibility for Bitcoin to gain hefty strength in the next year. The key to diving into crypto trading is to have fundamental knowledge of the platforms and coins. Understanding the coins and the base and backing of the projects will guide you and reduces the chances of making rash buying decisions.

If you are new to the crypto world and eager to put some share of your wallet into it, then you should start by reading  A Beginner's Guide to the World of Cryptocurrency. It contains basic knowledge of how the crypto world operates and provides guidance for new investors to choose their coins wisely.

It's an initiative by Cryptoreek and ThysirPips to educate people and build a base around crypto trading. A step-by-step guide that will walk you through Decentralized Finance, NFTs, Coins, and Trading fundamentals.