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It is no doubt that the year 2022 has been harsh for the crypto market. It was mainly due to worldwide downturns like the Russia-Ukraine war, rising inflation, monetary tightening, discussions about stricter regulations for the digital asset markets, and several others. However, right now the entire focus is on what 2023 has to yield. A majority of analysts and crypto optimists believe this year might deliver new results for the digital asset market. Major cryptocurrencies like BTC and ETH are expected to gain value and trigger productive price rallies for other cryptocurrencies. However, there are still reasons to expect that the crypto market might not do so well in Q1 of 2023. Financial advisors are constantly on the lookout for cryptocurrencies investors should sell-off before facing any more losses in the upcoming months. Infact, expert crypto investors are also on the lookout for the worst-performing cryptocurrencies for this week to avoid going through the entire financial loss storm in 2023. Here, we have analyzed the top 10 cryptocurrencies investors should sell-off in Q1 2023 before facing further losses.
Reportedly, Solana has hit over US$500 billion in value since the beginning of 2022. Even on New Year, Solana’s value disappointed investors. Solana’s performance in 2021 truly empowered the investment community. However, investors have become quite skeptical about the broader crypto market and of Solana in particular.
Experts predict that the Axie Infinity price will further plummet in January 2023. The number of AXS token users has also considerably gone down. The crypto has struggled with its growth since the beginning of 2022. Now investors believe that its stunted growth might be the reason why they will face more financial losses in the days to come.
The Sandbox has critically gone down almost 5,000% since the crypto market imploded after Terra LUNA went down. The token is well-known for being one of the most valuable assets to access the metaverse. However, the entire concept of the metaverse is hanging by a thin thread, it is quite unsure whether the metaverse will win over tech enthusiasts or not. However, SAND’s performance will be based on whether or not, or how companies are utilizing the metaverse.
Currently, Filecoin is suffering from weak economic and financial market conditions. There are several coins that have recovered after FTX’s collapse. However, Filecoin is still caught in a situation where the price might continue to fall further at any point in time.
Experts say that Algorand is about to drop and the token will be stuck in a consolidation phase. Earlier, Algorand has driven its attention to institutions and its investors instead of retail users and investors. To predict when the crypto will rise again might not be accurate since its volatility might either trigger heavy losses or even heavy gains for the investors.
Cardano is currently down by almost 90%. The crypto is a promising investment asset in 2022 but the weak performance is one of the many reasons why investors think ADA might not be viable enough to yield productive results in the days to come.
Avalanche is facing massive fluctuations in its values right now. AVAX was expected to gain significant gains in the long term, making it a good investment option. However, the crypto’s performance will continue to depend on several external factors and most importantly, investor sentiments.
Apecoin is on a massive declination route over the past couple of months. APE represents Bored Ape NFTs, due to the ongoing economic turmoils and constant scams in the NFT market, investors are growing skeptical of the NFT market as well. This is one of the primary reasons why the Apecoin token is on constant declination.
A few weeks ago, experts predicted that Cronos is about to experience a massive price rally. However, the token’s stagnant performance might be the reason why investors are slowly drifting away from using Cronos in the future. A dropping investor enthusiasm might also be one of the major reasons why Cronos is facing adverse price slumps.
Terra Classic is expected to present massive price rallies in 2023. However, since it is from the Terra companies, investors are quite confused between taking the risk and selling off their investments. However, the year 2023 still persists in bearish sentiments, hence avoiding volatile prospects would be wise.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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