The crypto industry has been playing out nicely since 2023 started, despite the negative news that is now accustomed to the industry. Also, the regulatory pressure from SEC and other government commissions has proved useless against the crypto industry. Different cryptocurrencies continue to make profits for traders even in April 2023.
But as we enter the new month, you need to balance your portfolio with the right cryptocurrencies. Having the suitable cryptocurrencies in your portfolio helps to prevent massive losses from happening in the case of a bearish trend. Conversely, it also allows you to make tremendous profits whenever there's a bullish trend. So in this article, you will get suggestions on the top cryptocurrencies you may consider investing in April 2023.
1. Bitcoin (BTC)
Bitcoin is still one of the cryptocurrencies you need to buy if you are serious about creating a balanced portfolio in the new month. Since the year started, the apex cryptocurrency has had its ups and downs, but it has remained strong. Despite the regulatory pressures from the US government, Bitcoin has been consistently making a profit for different crypto traders.
As one of the top cryptocurrencies to invest in 2023, Bitcoin provides stability to one's portfolio. Even newbie traders know that most cryptocurrencies in the market react to the price of Bitcoin. This means that if Bitcoin is increasing or decreasing, there's a tendency for other altcoins to follow suit.
2. Ethereum (ETH)
Immediately after Bitcoin, Ethereum comes second in the list of best crypto to buy now. Despite having a rocky start in 2023, the altcoin has consistently kept up in price. It has made huge strides comparing its current price and the price it started the year.
Ethereum is perfect for long-term investments in the market, as it is almost guaranteed to increase by a massive margin in the future. However, it is still very much possible to make short-term profits off Ethereum, as it has been increasing and decreasing in price at certain times in 2023.
3. Polygon (MATIC)
If there's any cryptocurrency that should be on the list of best crypto to buy now, it should be Polygon (MATIC). Although it is nowhere near its all-time high, MATIC has been making massive strides since 2023 started. It has moved to a price above $1, and it is still making huge profits for traders.
One major characteristic of Polygon in recent times is that it quickly makes recoveries after a bearish trend. At different times of the year, the altcoin has dipped in price and immediately corrected in price. After a dip, MATIC usually goes into a massive bullish run. A characteristic like this is one of the things a crypto trader would want.
4. Tether (USDT)
The major cryptocurrencies people always look forward to seeing in recommendatory articles are Bitcoin and other altcoins. However, stablecoins should also be on your list of top cryptocurrencies to invest in 2023. They serve an essential purpose for traders and should not be ignored while balancing your portfolio.
Tether (USDT) is a stablecoin with more than $70 billion as its market capitalization, and it should be in your portfolio. The primary use case of stablecoins is that they are used to keep. Your profits are safe after a trade. Since it is pegged to the US dollar, its price is always the same as the US dollar. USDT is a stablecoin that many hold high in value, as it has shown its resistance against issues like de-pegging.
6. Binance Coin (BNB)
The Binance coin is another cryptocurrency you should have in your portfolio in April 2023. It is backed by one of the biggest exchanges in the world, Binance, and it has very strong use cases and objectives. With a nearly $50 billion market capitalization, the Binance coin is another performing altcoin you should stack up in your portfolio. It has strong community members who are always willing to push the project on all social media platforms.
Starting in 2023 at less than $250, the Binance coin has quickly grown from that press level to more than $310 at the time of writing. At this rate, investing in the Binance coin guarantees a balanced portfolio as you can make short and long-term profits from the cryptocurrency. However, Binance company has been running into several regulatory issues lately including the recent CFTC lawsuit. Some investors fear that these innumerable legal issues with Binance could reflect negatively on its primary asset.
Remember, all the cryptocurrencies mentioned in this article are just suggestions; you should do your own research before buying any crypto.