The crypto market is currently in a severe correction. The Bitcoin price is currently struggling with some difficulties to break the 40K price barrier. External factors in particular, such as a possible increase in the key interest rates of the central banks and the war in Ukraine, have had a negative impact on the price. But 2022 could also be bullish again. That’s why in this article, we present the top 3 altcoins that could explode in 2022.
Can Cryptos become bullish again in 2022?
In the last few months, Bitcoin and other altcoins have fallen sharply. There were a few reasons for this in the last few weeks:
- The discovery of the new virus variant in December 2021 caused extreme damage to the market.
- Due to the strong inflation, the central banks want to raise the key interest rates, which reduces the risk appetite of investors.
- The war in Ukraine caused prices to fall worldwide, which also hurt cryptocurrencies.
In the last 3 months, there have been heavy losses in the cryptocurrency market.
On the other hand, there are signs that Bitcoin and other cryptocurrencies could rise again.
- With a possible end to the war in Ukraine or at least an easing of the situation, the global markets should rise again and thus the cryptocurrencies should rise again.
- The pandemic is coming to an end, which should also push markets higher.
- Bitcoin network fundamentals such as hash rate and blockchain activity are increasing. These are signs of a bull market as external factors weaken.
- The adaptation of the blockchain is progressing, which should give Altcoins a boost after the correction.
- The great parabolic bull run that occurred in the crypto market in late 2013 and 2017 failed to materialize in late 2021. According to the theory of the extended Bitcoin cycles, this could now follow in 2022.
Top 3 Altcoins to Buy during this Bear Market
#1 Cardano (ADA)
Cardano’s ADA token, like almost all other cryptocurrencies, has lost a lot of value in the last 3 months. Cardano experienced an excellent run in the late summer of 2021, which brought the cryptocurrency to 3rd place by market capitalization. But now the ADA course is only at 0.79 US dollars.
Cardano is perhaps the most technically sophisticated blockchain on the crypto market. It combines technical brilliance with fast transaction speeds and smart contract functions. This means that the Cardano blockchain can form the basis of decentralized financial products (DeFi) and non-fungible tokens (NFTs). Cardano is referred to as the “Ethereum killer” and is further developed according to scientific principles. In 2022, Cardano could make another big leap due to the Basho development phase, which should massively increase scalability.
#2 Polkadot (DOT)
Polkadot is another blockchain that has been quiet for the past few months due to sharp rises in cryptocurrencies like Solana and Terra and the sharp correction. The DOT token is the 11th cryptocurrency by market capitalization. Polkadot has enormous potential as a network.
Polkadot has plans to become the “Internet of Blockchains”. What is special about the blockchain are the so-called “parachains”, which can create connections between different blockchain networks. As a result, Polkadot represents interoperability between the most important blockchains, which could bring a revolution in the crypto market and in the Web 3.0 project in the future.
#3 Altcoins to Buy: Terra (LUNA)
Terra (LUNA) is one of the most interesting cryptocurrencies on the market. In the Terra Network, the price stability of stablecoins is ensured by algorithms. This makes these stablecoins independent from physical currency backing. Terra wants to build a flourishing ecosystem on this premise.
The platform’s native token is known as LUNA. The LUNA token ensures the price stability of the stablecoins. However, as a “real” cryptocurrency, LUNA can increase in price over time, which makes an investment interesting. With its innovative concept, Terra is making great progress in the DeFi sector and, according to “Total locked value” at DeFi, is now number 2 behind Ethereum. Therefore, Terra (LUNA) is one of the most promising cryptocurrencies in 2022.Top 3 Altcoins to Buy during the Crypto Bear Market – Cryptos about to BOOM!