The cryptocurrency market is currently in a bear market and this has caused many digital currencies to lose value. However, there are still some coins worth watching during this time. In this article, we will discuss four promising cryptocurrencies that have the potential to rally during the bear market: Polkadot, Stepn, Ethereum, and Battle Infinity.
The bear market explains: the current cycle is still pointing south
The current bearish market in cryptocurrencies can be better understood by looking at the price action of Bitcoin. Bitcoin and the wider cryptocurrency market are currently in the middle of a long bear market. Prices have been falling since the end of 2020 and there seems to be no end in sight. This surprised many investors and observers as Bitcoin had not seen such a long decline before.
[fw_price_chart id=“59″ default=“BTC“]
As of now, BTC is trading below the $21,000 mark again. In November 2021 it cost three times more. Since then, however, the cryptocurrency has been caught in a constant price decline with no signs of recovery anytime soon.
So what is behind the current bear market? Many believe that it is just a natural cycle that every market goes through from time to time. Others point to specific factors, such as the ongoing COVID-19 pandemic and resulting economic uncertainty, but the war in Ukraine and global inflation are also factors.
Whatever the reason, this bear market is unprecedented for BTC and could drag on for months or even years before investors regain their courage. The bear market may end as the global market recovers and restores confidence in crypto investors. For now, however, the market follows a mark.
What cryptocurrencies to watch in a bear market?
There are several cryptocurrencies that investors should keep an eye on during the current bear market. These include Polkadot, Stepn, Ethereum, and Battle Infinity.
Polkadot is an interesting investment in a bear market. The project aims to solve some of the problems facing blockchain today by facilitating the interoperability of different chains.
The panel on Polkadot scaling lost education at @Paris_Dot_Comm? Watch the recording to hear @Web3Foundationand @DrW3RK discussing all things Polkadot @zoemcfox, @henskensm, @hoonsubinand @bobblob: https://t.co/mmV0Df1ege https://t.co/7KcKXBjIQs
— Polkadot (@Polkadot) July 22, 2022
Additionally, Polkadot has a strong team of developers and advisors, including several members of the Ethereum Foundation. Although the project is still in a kind of beta stage, it has the potential to become a major player in the blockchain space.
Therefore, investing in Polkadot could be a wise decision for those who want to benefit from the continued growth of the blockchain industry.
Stepn is an interesting bear investment because it does something completely different than other cryptocurrencies. The project is building the Move2Earn fitness program, which is already being used in beta by numerous users.
— STEP | Step IV Public Beta (@Stepnofficial) July 22, 2022
Now it’s time for the team to expand. Other use cases or collaborations that could add value to their own tokens would make sense. If this team makes it possible, the price of the cryptocurrency should pick up again.
However, it remains to be seen whether this will be the case. Expanding the project will require significant planning and effort from the team and it remains to be seen whether they will be able to successfully implement their plans. So Stepn is always a risky investment, but one that could pay off big if everything goes according to plan.
Ethereum is an interesting investment in a bear market for several reasons.
- First, Ethereum is the second largest cryptocurrency by market cap and has a strong base of support among developers and users.
- Second, Ethereum is a platform for decentralized applications, and many believe this will become more important as the world moves towards a more digital world.
- Third, Ethereum is built on a blockchain that is resistant to censorship and fraud, making it a valuable investment in an uncertain world.
- And finally, Ethereum has a strong team of developers who are constantly innovating and improving the platform.
For all these reasons, Ethereum is an interesting investment in a bearish market.
Battle Infinity is arguably the riskiest investment on our list. But, since it is still a completely new cryptocurrency, you do not need to chase the old peaks, you can set fresh standards.
Battle Infinity and its IBAT coin are the latest additions to the cryptocurrency world and the project is already making waves with its innovative approach to gaming.
The development team aims to build its own metaverse in the crypto gaming space, offering users a Play2Earn world that includes both Stakes and NFTs.
The Battle Infinity pre-sale is currently underway and has already resulted in the soft cap of 2000 BNB being reached. 28% of all early bird tokens are expected to be sold by October 10th. With its innovative concept and strong team behind it, Battle Infinity is definitely a project to watch out for in the near future.
The risks and benefits of investing in cryptocurrencies during a bear market
Cryptocurrencies are often viewed as a risky investment, and with good reason. Their prices are highly volatile and are not backed by any central authority. However, some investors believe that investing in cryptocurrencies presents an opportunity during a bear market.
The theory is that in a bear market prices will eventually improve and those who invested early can profit. Of course, there is no guarantee of this and there is always the risk that prices will fall further.
However, for those willing to take the risk, contrarian investing in cryptocurrencies can be rewarding.