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I recently published an article where I revealed my investment strategy for 2023. I did not mention cryptocurrencies in that article, so I now want to talk about my plans for buying crypto in 2023. Obviously, things might change with this, but this is my current plan. Crypto has suffered dramatically this year, and I do not know what next year has in store for the crypto markets. Will it recover? Will it continue to fall? I have no idea, and I do not believe that anyone does. I do, however, plan to add to my crypto holdings. Here's what I plan to buy:
One of the first posts I published on my crypto blog was my thesis on why Bitcoin is valuable. When I look at that article, all the reasons that I mentioned are still true today in my opinion. With that in mind, I still believe that Bitcoin is valuable. Right now, Bitcoin is trading at around $17,000 a coin. Bitcoin has fallen by around 64% so far year to date. With the dollar losing purchasing power in 2022, I admit that I did think that more people would flock to Bitcoin. I'll admit that I was wrong about that, but I do not think that I am wrong about Bitcoin as a whole. Time, of course, will tell, but since I believe in this asset long-term, I do not see any reason to not rejoice at having the opportunity to invest in Bitcoin at these lower prices. While I do believe Bitcoin will recover, I hope it does not too quickly so that I have the chance to buy more of it.
Ethereum is currently trading around $1,256 a coin. Ethereum is currently down around 66% year to date. Ethereum is a decentralized open-source Blockchain. The world's computer. I think that this technology has a lot of potential, and my opinion is that more and more creations will be built upon that blockchain. Ether is the native cryptocurrency of that blockchain and as more applications continue to be built upon Ethereum, I believe that the cryptocurrency itself will build in value. With that in mind, I believe it is a worthwhile investment for me to make. This is why I plan to invest more into it in 2023. The cheaper I can get the coin, the better as I believe it'll be worth substantially more than it is now in the next several years.
These are really the only coins that I am interested in. I'm not saying there is not other coins of value, and I'm not saying that I am positive I will only invest in these two. I like to invest; I do not like to trade. I believe that these two are the best assets to buy with that strategy.
This is what I plan to do in 2023 concerning crypto.
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