Top 10 cryptocurrencies to Watch Out for in November and December 2023
Are we now in the early phase of the bull market? Or is this the largest bulltrap of our lifetime?
We do not have the answers at this point. In fact, none can answer it correctly, to be honest. It should just be an assumption or a derived opinion.
As an investor, the best we can do is to stay prepared for both scenarios. I personally have taken small positions in altcoins, and I will patiently hold them until they go up by 3-4x at least, as we are very close to the bottom, and yet 80-90% down from the previous ATH.
I am expecting altcoins to at least reach 0.5 times the previous all-time high. If that happens, I will be making 5-6x on my investments. Having said that, I would be happy with 4x returns.
I started taking positions from the last week of October 2023, and also have taken positions today (as of 6th November 2023).
In this article, we will explore some of the cryptocurrencies that I have purchased and would be holding for some solid gains during the last two months of 2023. These crypto assets have unique features and promising developments that could make them stand out in the ever-changing crypto space.
Let’s dive into the world of cryptocurrencies and discover the potential gems for the end of 2023.
What we are going to learn?
Bitcoin denoted as BTC, is a digital currency that emerged in 2009.
Functioning on a decentralized blockchain technology, Bitcoin operates without centralized oversight, distinguishing it from government-issued currencies and traditional banking systems. All Bitcoin transactions are meticulously recorded on a publicly accessible ledger, ensuring both transparency and security.
Bitcoin is frequently likened to “digital gold” due to its attributes as a store of value. Its capped supply of 21 million coins enhances its scarcity, paving the way for the possibility of enduring value appreciation over the long term.
Investors and enthusiasts have flocked to Bitcoin over the years, driving its price and popularity. It is widely accepted as a form of payment, and its adoption as a digital asset continues to grow. However, it is known for its price volatility, making it a speculative investment.
For any cryptocurrency investor, BTC is the first cryptocurrency to buy and hold.
Ethereum Classic (ETC)
Ethereum Classic, represented as ETC, is a cryptocurrency that stems from a split in the Ethereum network in 2016. It retains the original blockchain and philosophy of “code is law.” ETC is also a decentralized digital currency, and its transactions are recorded on a public ledger.
ETC serves as a platform for running smart contracts, just like Ethereum (ETH). It emphasizes security and immutability, with a focus on preserving the integrity of transactions and code execution.
While ETC shares similarities with Ethereum, it has its own community and development team. It is seen as a blockchain with a strong commitment to decentralization and resistance to censorship, attracting those who value these principles.
Most of the time we have seen, is during every cycle, ETC gives a massive return. To get the maximum out of it, one can buy ETC in November and hold till there is a pump. This is recommended for those high-risk investors who understand the risk, and are okay with waiting till the next cycle, no matter when that happens.
Click here to read: ETC Price Prediction 2024 to 2030
Solana is a rapidly growing blockchain platform designed for high-performance decentralized applications (dApps) and cryptocurrencies. It differentiates itself with its focus on scalability and speed. Solana employs a unique consensus mechanism called Proof of History (PoH) to achieve fast transaction processing.
Solana’s blockchain is known for its ability to handle a high volume of transactions per second, making it suitable for applications in areas like decentralized finance (DeFi), non-fungible tokens (NFTs), and more. Its native cryptocurrency is called SOL.
The Solana ecosystem has seen significant growth, attracting developers and projects due to its capabilities. It is considered one of the prominent players in the blockchain space, aiming to address scalability issues that have affected other platforms like Ethereum. Solana’s ongoing development and partnerships make it a noteworthy platform in the world of blockchain technology.
We wrote a piece on what Solana is doing in 2023 and if it is there is any future left for Solana. Consider reading it if you have free time.
Recently we have seen SOL price-making highs. SOL in October and November have broken the downtrend and making a 500% return from the ATL of the last cycle.
I am expecting SOL to reach 120 to 150 USD in the next cycle.
Click here to read: SOL Price Prediction: Can Solana Reach 100USD again?
Chainlink, often represented as LINK, is a prominent cryptocurrency that plays a crucial role in the realm of decentralized finance (DeFi) and smart contracts. It was introduced to address the challenge of connecting blockchain-based smart contracts with real-world data and external systems.
Chainlink acts as a bridge, facilitating the seamless transfer of information from the physical world to the blockchain. This technology is achieved through a network of oracles, which are trusted data providers that deliver secure and tamper-resistant data to smart contracts. LINK tokens are used to incentivize and reward these oracles.
The value of LINK lies in its utility for enabling trustless and automated interactions between blockchain and real-world data sources. This functionality is vital for various applications, including insurance, supply chain management, and more.
For a very long time, LINK has been trading within a range Recently, we have seen LINK break the range and is on an uptrend.
Though the LINK token is up 200% in the last 2 and a half months, I still see a lot of potential left. LINK token is still 75% down from its previous ATH, and I see at least a 2x return from the current price by the next bull run.
Click more: LINK Price Prediction 2024 to 2030
Compound, symbolized as COMP, is a cryptocurrency associated with the Compound protocol. The Compound protocol is a decentralized lending and borrowing platform built on the Ethereum blockchain. It allows users to lend their cryptocurrencies and earn interest, as well as borrow assets by using their crypto holdings as collateral.
COMP is the governance token of the Compound protocol, giving its holders the ability to influence decisions related to the platform’s development and changes. Users can also earn COMP tokens by participating in the platform’s governance activities.
Compound has played a significant role in the DeFi space by providing a way for users to leverage their cryptocurrency holdings and earn passive income. It has gained popularity as an open and transparent platform for lending and borrowing various digital assets.
COMP is another favorite DEFI token I have purchased recently. This DEFI protocol is 2nd biggest, after AAVE. The reason I am more bullish on COMP than AAVE is that the token is still down by more than 90% from its ATH. Even if the COMP token reaches half of the previous ATH of 854 USD, the token has the potential to give more than 8X return in the next bull run.
Click more: COMP Price Prediction 2024 to 2030
Aave, denoted as AAVE, is a cryptocurrency associated with the Aave protocol, a decentralized finance platform built on Ethereum. Aave is primarily known for its lending and borrowing capabilities within the DeFi ecosystem.
Aave enables users to lend their cryptocurrencies and earn interest on their deposits while also allowing others to borrow assets by providing collateral. The platform offers a wide range of assets for lending and borrowing, making it a versatile tool for managing digital assets.
AAVE is the native governance token of the Aave protocol, giving holders the right to participate in decision-making processes and propose changes to the platform. Stakers of AAVE tokens can also earn rewards for securing the network and participating in governance. Aave has gained recognition for its innovative approach to DeFi lending and has become a pivotal platform for those seeking to maximize their cryptocurrency assets’ utility in the DeFi space.
The reason I am bullish on AAVE is because it is the top DEFI protocol with more than 7 billion USD in TVL. AAVE token seems to be on an uptrend and I am expecting AAVE to reach 300USD by the next bull run.
Click here to read: AAVE Price Prediction 2024 to 2030
Synthetix, denoted as SNX, is a cryptocurrency platform that has gained recognition within the decentralized finance (DeFi) ecosystem. Its primary focus is on creating synthetic assets, or “synths,” that are tied to the value of various real-world assets, including cryptocurrencies, commodities, and traditional fiat currencies.
SNX plays a crucial role as the native utility token of the Synthetix platform. Users can lock up their SNX tokens as collateral to mint and trade these synthetic assets, allowing them to gain exposure to a wide range of assets without owning them directly. Additionally, SNX holders participate in the platform’s governance decisions and receive rewards for staking.
Synthetix has contributed to the DeFi landscape by providing a decentralized and trustless mechanism for creating and trading synthetic assets. Its growth and adoption are indicative of the demand for financial instruments that bridge the gap between the traditional and digital worlds.
By Q4, Synthetix plans to launch PERP3 and Infinix, about which you can read here. I am expecting the SNX price to grow once there is hype around the event.
THORChain, represented as RUNE, is a cryptocurrency associated with a decentralized liquidity protocol built on blockchain technology. Its primary function is to enable cross-chain asset swapping, allowing users to exchange digital assets from different blockchains in a trustless and decentralized manner.
RUNE serves as the native utility token of the THORChain network, facilitating liquidity provisioning and enabling transactions between different blockchains. Users can participate in providing liquidity to the protocol by depositing assets and earning transaction fees in return.
THORChain has gained attention for its ability to connect various blockchains, making it easier for users to transfer and trade assets across different networks. It enhances the interoperability of the blockchain ecosystem, contributing to a more seamless and open financial infrastructure.
Click here to read: ThorChain (RUNE) Price Prediction 2024 to 2030
Basic Attention Token (BAT)
Basic Attention Token, denoted as BAT, is a cryptocurrency and utility token associated with the Brave browser and the BAT ecosystem. BAT is designed to improve the online advertising industry by creating a more privacy-focused and user-friendly browsing experience.
BAT is utilized as a means of rewarding users for their attention and engagement with online ads. Users who opt to view ads receive BAT tokens in return, which they can use to support content creators and publishers or exchange for other digital assets.
The BAT ecosystem aims to enhance privacy and reduce the inefficiencies of traditional online advertising by directly compensating users and content creators. This unique approach has garnered significant interest and support from users who value their online privacy and content creators seeking fair compensation for their work.
BAT is a seasonal cryptocurrency. After some interval the token pumps. Those who buy it at its lowest price can make some serious money with this cryptocurrency. At the time of writing, BAT is trading at 0.2USD.
Neo, often referred to as “Ethereum of China,” is a prominent blockchain platform and cryptocurrency. Neo, founded in 2014 by Da Hongfei and Erik Zhang, is designed to facilitate the creation of decentralized applications (dApps) and smart contracts. It has gained significant recognition for its role in the blockchain ecosystem.
Neo employs a unique consensus mechanism called Delegated Byzantine Fault Tolerance (dBFT), which aims to enhance security and scalability. This mechanism allows Neo to handle a substantial number of transactions per second, making it suitable for a wide range of applications.
One of Neo’s distinguishing features is its focus on digital identity, enabling the creation of verifiable and secure identities in the digital realm. This feature has promising implications for applications related to identity verification, including Know Your Customer (KYC) processes.
The Neo blockchain ecosystem has another native cryptocurrency called GAS, which is used for transaction fees and network governance. Neo’s development team and community continue to work on expanding the platform’s capabilities and attracting developers to build on its infrastructure.
I purchased NEO in November 2023. I am bullish on Neo as the blockchain is developing an EVM-compatible, MEV-resistant sidechain to enhance security and privacy in DeFi, with a testnet expected by the end of 2023.
The sidechain is under development. The testnet is planned to be launched at the end… pic.twitter.com/EO9Ck52qGt
— Neo Smart Economy (@Neo_Blockchain) October 27, 2023
As we approach the final months of 2023, the cryptocurrency market is poised for exciting developments and opportunities. The top 10 cryptocurrencies mentioned in this article have distinct features and use cases that set them apart from the crowd. From established giants like Bitcoin and Ethereum to innovative projects like Solana and Synthetix, each digital asset has the potential to make a significant impact.
Before investing, it’s crucial to conduct thorough research, stay informed about market trends, and assess your risk tolerance. Furthermore, always consider seeking professional financial advice when making investment decisions.
As we venture into November and December, these cryptocurrencies offer a glimpse into the diverse and vibrant world of digital assets. Whether you’re an experienced trader or a newcomer to the crypto space, keeping an eye on these top 10 cryptocurrencies could lead to exciting opportunities in the ever-evolving landscape of digital finance.