As every crypto investor knows, there is money to be made even in a bear market by investing in crypto. Therefore, we share the crypto that experts estimate to be top and flop for the month of December 2022.
Before we do this, an additional alert is in order. All analysts make their estimates based on models and calculations. As we can see, the market is currently very uncertain. So-called “black swan” events, such as the collapse of a crypto exchange, can heavily affect prices. These kinds of extremes are not included in the expectations. Of course, you can protect against them by applying good risk management.
Which crypto do the experts tip as the top for December 2022?
As mentioned, experts remain optimistic and see potential in the market. We list the crypto they are tipping for December 2022.
#1 Ripple (XRP)
The lawsuit between Ripple (XRP) and the SEC is nearing its end. Now that the cards seem to be in favor of Ripple, experts expect the currency’s price to rise. This could happen even if the lawsuit is lost anyway because then the impact of the ruling will be clear.
#2 ChainLink (LINK)
For Chainlink (LINK), it is important to note that the price is moving around its 52-week low. As a result, analysts see the currency as cheap. On top of that, according to developers, it will be possible to strike ChainLink (LINK) as of December 6. We already saw several crypto rise in a normal market ahead of strike.
#3 Bitcoin (BTC)
Just over a year ago, the price of one Bitcoin (BTC) was around $64,000, and analysts expect that the currency will definitely go back to that. This does need to take into account a longer time frame, such as the run-up to the next halving in spring 2024, but sharp price declines may still follow in the short term due to special market conditions.
Analysts are divided on 2 crypto in December
In addition to these tips, there are 2 crypto that divide the market between analysts who see these crypto as tops in December and analysts who think these coins are going to flop. Of course, we discuss these as well.
Price BuildNBuild (BNB) divides the market
Based on historical trend trends, technical analysis of BuildNBuild (BNB) for December indicates a good chance of hefty price gains.
On the other hand, this coin is inextricably linked to crypto exchange Binance and it, like many other crypto coins, is currently under fire.
Will December’s Dogecoin (DOGE) share price be top or flop?
Dogecoin (DOGE) is also showing continued growth against the trend. In addition, DOGE fan Elon Musk has biggest plans for crypto and Twitter, in which this coin could play a hefty role.
On the other hand, this crypto is currently still a meme-coin. Analysts therefore expect prudent investors to shun these coins without a user case first as they start investing more cautiously. With that, pessimistic analysts label Dogecoin (DOGE) a flop.
Apecoin (APE) anticipated as cryptoflop due to lack of user cases
Experts seem to agree that Apecoin (APE) may well become December’s flop. This is not directly related to FTX, but rather to the fact that the coin does not have a clear user case. For example, the Bored Ape Yacht Club metaverse game from which this coin would become the native token is not yet concrete (no launch date is even known) It is also unclear where the coin now derives its value from and why the owners and underlying organization get 38% of the amount of Apecoin available for free, while the total value of all APE in circulation is estimated at $3.1 billion. So it will be exciting again for crypto in December.
Stay up to date on the latest price developments?
You can always follow the developments yourself with our WANT analyses and overviews. Of course, you can also follow the BTC and live cryptocurrencies 24 hours a day if you want to stay informed in real time. Finally, you can practice stock and crypto investing without financial risk by creating a free account on virtualinvestment.com.
Note: We never give financial advice, so you can’t interpret our contributions that way either. Always do your own research and decide rationally if, when, what and how much you want to invest.
Sources: Coingape.com and The Motley Fool