Bitcoin has always been a strong cryptocurrency, but the question if Bitcoin is a good investment in 2023 will not yield a resounding yes – it is a question that is hotly debated. Multiple factors have an impact on the primacy of BTC, and they could have wide-ranging impacts on the whole crypto market, from BTC’s nearest competitor, Ethereum, to the talk of the town, DogeMiyagi (MIYAGI), a new meme coin in presale.
Bitcoin: Is the King Slowing Down?
Bitcoin saw its value rise amidst the banking crisis and the US Fed’s rate hikes. The price action of BTC was comparable to that of gold and earned the token the moniker of digital gold. BTC is now widely regarded as a good hedge against inflation, but the billionaire crypto investor Paul Tudor Jones has commented that BTC’s days of being an inflation hedge could come to an end as inflation is cooling. Also, the Fed looks likely to pause interest hikes, a move that can cause a surge in the price of BTC.
But, Jones says that BTC price will miss a surge as pressure is mounting on it as regulators are increasingly taking a hawkish stance against the top digital asset. Increasing regulatory attention and the ensuing search for alternatives is bad news for BTC as it has displayed a lull in performance, with prices remaining in the sub $29k range after a high of $30,315 seen in early May.
Ethereum: All Eyes on BTC Price Swings
Ethereum could be one asset that can make a killing amidst Bitcoin’s misfortune. The second largest digital asset has not received the regulatory glare as harshly as BTC. But the token’s performance is also dependent on regulatory clarity. Circumstances notwithstanding, ETH could potentially see a surge in price as inflation rates come down.
As the market shifts its attention from Bitcoin to altcoins, ETH is placed atop the pyramid to make maximum gains. The network has the largest developer community and boasts the largest ecosystem for dApps and DeFi projects. The token also offers better scalability, efficiency, and cost benefits than the Bitcoin network, thus positioning itself on a path of growth.
DogeMiyagi: Banking on Community to Tide Over Uncertainties
If the price swings of the crypto markets have taught any lessons, it is that the oft-ridiculed meme coins performed much better than others in times of market volatility. An enabling factor of the resilience of meme coins is their strong community-oriented networks. DogeMiyagi, a new meme coin in presale, could be just the perfect example of an uncertainty beater with its strong project that places the community at the center of its plans.
DogeMiyagi has placed great importance on creating an ecosystem ready for DeFi and dApps. The network is based on the Ethereum blockchain, and its scalability, efficiency, and security will give it an edge in the market. The project has stated that it will be fully autonomous after its launch, placing its community in full control.
The $MIYAGI token will be the governance token of the network. Holders will be able to participate in the network’s decision-making process using the token. $MIYAGI will also power DogeMiyagi network’s NFTs. The network also has a referral program that holders can use to get a 10% commission in $MIYAGI.
The Last Bite
The focus on community and solid plans for a growing ecosystem will be the DogeMiyagi network’s strengths in the face of changing fortunes for Bitcoin and other cryptocurrencies.
Check out Dogemiyagi below:
Website: https://dogemiyagi.com
Twitter: https://twitter.com/_Dogemiyagi_
Telegram: https://t.me/dogemiyagi
