Although cryptocurrencies are often associated with upward price movements, like the financial markets, they also experience periods of downward price movements. During periods of downward price movements, the market is said to be bearish.
Because it is impossible to avoid downward markets in the cryptocurrency market, investors and traders often seek refuge in digital assets that have high utility and uses cases that can help them weather the storm and grow their portfolio.
In this article, we will look at the top five cryptocurrencies that have the potential to still soar in the face of bearish conditions.
1. Tradecurve (TCRV)
Tradecurve is building a hybrid trading exchange that combines the best aspects of centralized and decentralized exchanges to offer users a seamless experience. Tradecurve will be the first blockchain platform where users will be able to effortlessly trade a wide variety of derivative assets including forex, ETFs, commodities, options, ETFs, and stocks all through a single account, without KYC requirements. The global derivatives market is one of the biggest in the world, valued at over $632 trillion in 2022 by the Bank for International Settlements.
The large volume of the global derivatives market makes Tradecurve rank among the top cryptocurrencies with the potential to battle a bearish market. The Tradecurve ecosystem also includes educational resources for traders, algorithmic AI trading, copy-trading, comprehensive trading fee discounts, and the ability to utilize high leverage starting at an impressive ratio of 500:1. Moreover, given Tradecurve’s exposure to diverse financial markets, the platform has large liquidity, robust trading activity, and a wide user base from across that actively engages with the TCRV token.
Compared to other exchanges, Tradecurve has the lowest trading fees in the industry. At present, TCRV, the native token of the platform, is in the fourth stage of its presale, currently valued at only $0.018. Apart from being the native token of the Tradecurve platform, the TCRV has great utility and use cases.
The design of the TCRV token gives it an integral role within the Tradecurve ecosystem, which pioneers innovative solutions in decentralized finance (DeFi) and trading. Due to its utility and functionality within the ecosystem, TCRV holds inherent value, which would help stabilize its price during bearish market conditions.
Furthermore, the dedicated and vibrant community surrounding TCRV will make it resilient and promote long-term holding among holders. Despite the ongoing bearish trend in the crypto market, the TCRV token has been bullish, jumping 20% on the weekly price chart to trade as high as $0.018.
Also, analysts anticipate another 50x increase in value as Tradecurve presale advances, with up to a 100x price surge once the platform debuts on the global market and the token is listed on prominent DeFi platforms like Uniswap or major Tier-1 CEXs.
2. Kaspa (KAS)
KASPA (KAS) is an innovative Layer-1 solution specifically designed to tackle the scalability challenges faced by Bitcoin and other blockchain networks. It is a fully scalable and decentralized platform that uses a unique Directed Acyclic Graph (DAG) architecture, allowing for swift processing of transactions and enhanced scalability.
The DAG structure employed by KASPA empowers the network to handle a higher number of transactions per second compared to traditional blockchains, resulting in improved scalability. Furthermore, this architecture facilitates faster confirmation times, as transactions can be processed in parallel, without having to wait for linear chain blocks to be mined.
Meanwhile, KAS is the native cryptocurrency of the KASPA network and serves multiple purposes within the ecosystem. It can be used to pay for services, transaction fees, and mining activities. Notably, KAS is one of the fastest proof-of-work cryptocurrencies with a high level of decentralization, making it an attractive option for miners. Unlike Bitcoin and Ethereum, KAS recorded its highest price of $0.04279457 on April 2nd, 2023 amid the bearish market.
Currently, the token is trading at $0.02134000, reflecting a 49.99% decrease from its all-time high price. However, over the past week, it has experienced a notable increase of 38%. With Ethereum having transitioned to a proof-of-stake consensus mechanism, KAS has the potential to become the second-largest mined token after Bitcoin. DigitalCoinPrice predicts a significant upward trajectory for KASPA, forecasting a 234.19% increase in value by the end of 2025, with the token potentially reaching $0.0762. This projection highlights the potential growth that KASPA brings to the market.
3. KuCoin (KCS)
KuCoin is a prominent global cryptocurrency exchange that boasts a vast selection of over 300 registered cryptocurrencies. Serving as a platform for digital asset transactions, KuCoin is widely recognized as the “people exchange.” It proudly claims that one out of every four crypto holders worldwide is affiliated with KuCoin. Founded in 2017 by Eric Tang and Michael Gan, KuCoin has a substantial customer base of over eight million users spanning over 200-plus territories.
To ensure smooth business operations, KuCoin maintains three overlapping data centers. The platform offers user-friendly experiences through its mobile app and web platform, allowing users to easily buy and sell digital assets. The exchange provides a wide array of trading options to its user base of over six million individuals. These options include margin trading, spot trading, futures trading, peer-to-peer trading, as well as staking and lending services. The native cryptocurrency of the KuCoin Exchange is called KuCoin Token (KCS). Launched in 2017 as a profit-sharing token, KCS allows traders to benefit from the value generated by the KuCoin exchange.
KCS is also employed as a reward for existing users who bring in new customers to the platform. Holders of KCS above a specified threshold are entitled to additional trading fee discounts. Moreover, they receive a dividend known as the KuCoin bonus, which equates to approximately 50% of the trading fees. The price of KCS, along with several other exchange-related tokens, has been on an upward trend.
Since August 21st, 2020, the token has experienced an impressive price increase of about 700%, attracting the attention of crypto and blockchain investors. With a circulating supply of 80,118,638 KCS, the exchange rewards KCS holders with daily bonuses. The initial total supply of KCS was 200 million, but the implementation of a burning strategy has reduced the count to about 170 million. KCS provides a 20% discount on trading fees and grants KuCoin users access to new token sales on KuCoin Spotlight, as well as the KuCoin Earn lineup of crypto-earning products.
Setting itself apart from other exchange-related tokens, KCS utilizes a bonus incentive mechanism for token holders. Users who hold a minimum of six KCS receive a daily bonus, distributed from 50% of KuCoin’s daily trading fee revenue, proportionate to the number of KCS tokens held.
Additionally, KCS has expanded its utility beyond KuCoin, serving as a payment method on various platforms such as the Travala hotel reservations website, gaming platforms like PlayGame, BetProtocol, and Splinterlands, as well as payment services like Pundi X, SwirlPay, and CoinPayments, among others.
Besides, the rising adoption of cryptocurrencies, coupled with the recent market recovery after the 2022 bearish market has significantly impacted the prices of digital currencies, including the KuCoin token. From a technical perspective, the short-term price prediction for KuCoin is bullish, as the current price has been recovering steadily since the beginning of 2023. This makes it one of the top cryptocurrencies to weather the bear market.
Also, there has been a recent surge in trading volume across cryptocurrency exchanges including KuCoin. This trend, along with KuCoin’s recent Metaverse development has the chance of pushing KCS price during the ongoing bear market. According to Changelly, the technical analysis for KuCoin Token suggests more bullish price movements in 2023. The token’s minimum price is projected to be around $8.50, while the maximum level it can reach is estimated to be $9.81. The average trading price is expected to hover around $8.79.
4. Bitcoin
As the pioneer cryptocurrency, Bitcoin often dictates the pace for the broader cryptocurrency market. It is also the largest cryptocurrency with a market cap of $514 billion. When navigating a bear market, investing in top assets is a wise and secure strategy. Bitcoin has weathered numerous bear markets over the past few years and consistently rebounded with bullish momentum. What sets Bitcoin apart from others as an excellent cryptocurrency to purchase during a bear market is its potential for substantial growth.
Regardless of the next market cycle’s outcome, Bitcoin’s legacy and widespread adoption ensure its position among the top assets. While past performance does not guarantee future returns, Bitcoin currently trades significantly below its 2021 levels. Having reached an all-time high of $70,000 in November 2021, it currently hovers around $26,000.
In April, Bitcoin briefly touched the crucial resistance level of $30,000, marking its first time since June 10, 2022, before descending to around $28,000. However, the road to recovery remains lengthy, as Bitcoin remains nearly 50% below its all-time high.
Recently, it plunged below $26,000, hitting a three-month low. This decline was triggered by the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance and Coinbase.
Crypto experts speculate that if Bitcoin manages to hold firm at its resistance level of $25,700, a rebound could be on the horizon. However, breaching this level may potentially drive Bitcoin to its lowest point of around $20,000. Another reason experts express optimism about Bitcoin is the upcoming halving event in 2024. Occurring every four years, the halving event reduces Bitcoin rewards for miners by half, with their payouts decreasing to 3.125 BTC. This event typically favors Bitcoin’s price, as the reduced supply helps create momentum. Historically, halving has proven to be a positive catalyst for Bitcoin’s value.
Moreover, Bitcoin has surged over 80% since the start of 2023, surpassing the performance of many other major assets. Those who have purchased Bitcoin during its downturns have reaped substantial and unexpected returns, making it one of the top coins to battle the bear market.
5. Ethereum
Since it introduced smart contracts to the blockchain space in 2015, Ethereum has ranked as one of the best digital assets to hold during bear markets. The utility of the Ethereum blockchain has introduced several concepts including the development of decentralized applications (Dapps) and non-fungible tokens (NFTs) across various cryptocurrencies. Now, Ethereum holds the position of the second largest cryptocurrency with a market cap of $208 billion and the leading altcoin globally.
As an open-source blockchain technology, Ethereum has gained significant traction for its ability to support decentralized applications, cryptocurrency transactions, and store digital assets. Investors seeking to mitigate their risk exposure during a bear market can find solace in buying well-established cryptocurrencies like Ethereum.
Moreover, Ethereum operates within a fully decentralized crypto ecosystem. Its smart contract functionality has propelled it to become one of the most widely adopted cryptocurrencies worldwide. In fact, many popular crypto networks and exchanges, such as Uniswap and Polygon, are built on the Ethereum blockchain.
In 2022, Ethereum successfully transitioned to a proof-of-stake consensus, addressing environmental concerns by significantly reducing its carbon footprint. This milestone has paved the way for faster transactions and lower fees, opening up new possibilities like staking within the Ethereum network.
However, Ethereum has faced challenges such as scalability issues and high gas fees on its network. Given the current trading price below its 2021 levels, this could present an opportune time to invest in Ethereum.
Technical charts indicate that in 2023, ETH’s price may stabilize within the comfortable range of $1,800 to $1,900, encountering resistance around $1,760 and potentially reaching a low of $1,600. The average trading price is projected to hover around $1,880.75, offering a potential return on investment (RoI) of 5%.
According to predictions from Cryptonewz, by the year 2025, ETH is expected to reach a maximum level of $6,500, with a minimum price of $4,500. Considering these factors, ETH emerges as a compelling candidate for long-term cryptocurrency investment both during a bearish and bullish market.
