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What are good cryptocurrencies in 2022? – The big overview

 How will cryptocurrency prices move in 2022?

Cryptocurrencies saw a bear market in 2022. Most coins lost massively in value in the first half of 2022. Since November 2021, when the Bitcoin price reached its all-time high, the Bitcoin price and the price of other cryptocurrencies have been falling. Those price drops continued into 2022.


The Bitcoin price at the turn of the year 2021 / 2022 was still 48,000 dollars. In the following months we saw several crashes in the Bitcoin price. The Bitcoin price partly fell below the $20,000 mark in June. Other cryptocurrencies such as Ethereum, Cardano and XRP also saw massive losses during this time.


Why did cryptocurrencies fall?

Cryptocurrencies went into a bear market . This bear market was predictable because of the timing. In 2013 and 2017 we saw massive price increases at the end of the respective bull market. This also happened in 2021 when the Bitcoin price surged above $68,000. In 2014 and 2018 we saw massive losses early in the bear market. This also happened in 2022.


Other factors ensured that the bear market accelerated. Above all, the increase in key interest rates by the American central bank, the Fed, ensured that the fall in prices was accelerated in recent months. Other factors such as the corona pandemic and the war in Ukraine also had a negative impact on prices.


What are good cryptocurrencies in the 2022 bear market?

In a bear market, it is especially difficult to make profits from certain cryptocurrencies. In particular, the well-known cryptocurrencies in the top 100 by market capitalization have seen heavy losses in recent months. Despite the heavy losses on the market, many smaller projects could nevertheless increase in value in the coming months simply because of the growth of the projects. However, it is difficult to get involved in these projects in good time.


If you want to invest in well-known cryptocurrencies, you should invest in coins that have proven themselves in bear markets over the past few years. These cryptocurrencies have been able to hold their value well in bad market conditions, while many other coins have massively lost value in bear markets and have disappeared into oblivion. 




Therefore, also pay attention to the following characteristics of good cryptocurrencies:


A cryptocurrency is among the top 10-20 cryptocurrencies by market capitalization.

The cryptocurrency has been able to establish itself in at least one previous bear market. 

The project has a clear benefit and a serious team behind it.

The project is generally more than 2-3 years old. 

Bitcoin 

Bitcoin is the first and most important cryptocurrency. Founded in 2009, it has been the cryptocurrency with the highest market capitalization ever since. Bitcoin has stood the test of time for 13 years and has gone through multiple bull and bear markets. A complete Bitcoin implosion is extremely unlikely.


Bitcoin price development

Due to the limited number that can ever be created, Bitcoin should continue to rise in price over the next few years once a new bull market comes along. Until then, an investment at reasonable prices is worthwhile.


Ethereum

Ethereum is the second largest cryptocurrency and has existed since 2015. An Ethereum ecosystem has been growing massively for years. Ethereum was the first blockchain to establish smart contract functions. As a result, Ethereum can be the basis for decentralized applications.


Ethereum

Ethereum is the main blockchain for NFTs and the area of ​​decentralized finance. The number of dApps based on Ethereum continues to grow and the blockchain is far ahead of all other blockchains in the number of decentralized applications. Ethereum also remains a good investment for the future.


Cardano

Cardano's ADA token is another example of good cryptocurrencies, even in a bear market. Cardano was founded in 2017 and became known and popular through its scientific development. The development follows a clear roadmap and should remain one of the technically best blockchains in the future.


Cardano

The development of Cardano is progressing inexorably. With the new Basho development stage, Cardano could soon become the fastest blockchain on the market. In terms of decentralization and security, Cardano is already one of the most experienced blockchains.


XRP

The cryptocurrency XRP from the payment network Ripple is another token that has proven itself over the years and has an extremely well-developed network with strong partners behind it. The payment network Ripple offers banks its service to make transactions in different payment corridors more efficient and cheaper. 


Ripple

In the last 1-2 years, the legal dispute between the American SEC and the company Ripple Labs has made the headlines. There are allegations of fraud in securities trading. However, an agreement, possibly even an acquittal, is likely in 2022. In the next cycle, XRP should remain an example of good cryptocurrencies.

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