As the crypto market continues to advance, crypto investors are readying up to enter the new month. February 2023 is an exciting month for the cryptocurrency market. There are still many altcoins that are worth considering for investment. However, based on current market trends and expert analysis, here are the top 3 altcoins to buy in February 2023.
The second-largest cryptocurrency by market capitalization, Ethereum has been gaining popularity due to its use as the backbone of decentralized finance (DeFi) applications. Ether prices are showing positive returns, and are expected to increase further during the month of February 2023. This should happen if prices breach the descending triangle higher shown the figure 1 below.
Binance Coin is the native token of the Binance cryptocurrency exchange, and it has been gaining popularity due to its utility as a means of paying trading fees on the platform. BNB prices are on the perfect uptrend since the beginning of the year. As the crypto market goes higher, more investors buy cryptos again, which makes Binance as an exchange more active, with higher fees, thus higher BNB prices.
Cardano is a smart contract platform that aims to provide a more secure and sustainable ecosystem for decentralized applications. It has been gaining traction as a promising project in the blockchain space. ADA prices reached their bottom price of $0.24, but since then started an uptrend as well. ADA price should go higher in February if the crypto market continues to show positive returns.
In conclusion, buying altcoins can be a great way to diversify your investment portfolio and potentially generate high returns. The above top 3 altcoins to buy in February 2023 are showing interesting technical formations. However, it’s important to conduct a thorough analysis and keep in mind to place stop-loss triggers in case the market goes south. Everyone in the crypto market is following the FTX events. Any new negative discovery might trigger a medium-term selloff.
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