The year 2023 is said to be huge for Polkadot (DOT) as it is one of the cryptocurrencies to watch out for. many crypto expert is very optimistic about Polkadot, and he says that traders should be careful about the coin because its development will be big for the year.
- DOT looks bearish but could pivot to a bull run in the coming days
- Polkadot is said to be an interesting addition to the investment portfolio for 2023
- DOT price down 1.43%
While the DOT is not doing well as of press time, crypto experts believe this is the best time to buy. The coin is considered one of the safety nets and the best bet to include in your portfolio for the coming year.
according to CoinMarketCap, DOT price is down 1.43% or trading at $4.28 at the time of this writing. And many crypto experts think that the discount price should entice more traders to buy while the price is still low because it will increase in the coming year.
Polkadot: One of the Most Liquid Assets
Although Polkadot has depreciated in value, it is still the top crypto in terms of attracting investor interest. It stands out when pitted against other cryptos as it is also one of the popular liquid assets included in hedge fund portfolios.
Indeed, the demand for Polkadot is increasing, and it looks like it has the greatest potential to increase in 2023. In fact, since then, many top investment companies and even hedge funds have put their eggs in Polkadot’s basket. .
DOGE total market cap at $9.06 billion on the daily chart | Chart: TradingView.com
The DOT could start a Bullish Run
Polkadot has been looking bearish as it recently dropped to $4.20 in the past 24 hours. This retreat has attracted investors’ attention in the past, and it may attract attention today.
On the other hand, the DOT technical indicator shows some bullish movements, with the volume reaching a new level registered on December 25. Still, it is now slowly recovering from the slump.
Eco Friendly Crypto
Market capitalization of DOT shows that bears still dominate the market for December, but the market cap has uptick by $ 100 million overnight, which looks like accumulation. In addition, development activities also seem to nosedive, which can be a cause for concern, especially for investors.
Meanwhile, Polkadot, along with Cardano and Algorand, is one of the most environmentally friendly cryptocurrencies, according to a new analysis by Traders of Crypto. Polkadot is the fourth most environmentally friendly digital currency, with an annual carbon emission of 50 tons.
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Featured image: VOI