Best Crypto Scalping Platform

It’s been a rough ride for the crypto market through 2022. By November the market was down by 70% from its previous peak in November 2021. And just when things were looking down after the FTX crash made them look even worse. What is the likelihood that the crypto market recover in 2023?

Crypto Market Dips are Cyclical

The crypto market, especially Bitcoin has experienced its fair share of dips over the years. Each time, it’s bounced back with a huge rally.

In 2013, for instance, Bitcoin reached a peak of $1,160. It then plummeted for more than a year, reaching a low of $150. However, in 2017 it broke that record, and hit a new high of $19,600. Fast forward to 2018, the price was at $3,100. In 2020, it broke that resistance and reached a new highest of $68,000 in November 2021. Then, just like that we’ve seen another dip. However, history has shown us that after each dip there’s a bull-run.

Every Dip is Followed by a Long Bull Run

As we’ve seen previously, dips tend to be followed by a prolonged bull run that finally surpasses the resistance created by the previous high price. This pattern can be seen in more than Bitcoin but also in other cryptocurrency.

Growing Use of Crypto and Blockchain

Blockchain and cryptocurrency technology has progressed a lot in the last few years. With more and better companies and industries taking to the technology, its use and acceptance is rising. From gaming to finance, crypto is being used in many ways. This growing demand can lead to more people getting involved in the crypto market, which in turn could increase the price.

A rise in the interest of institutions for cryptocurrency

In recent times we’ve witnessed a rising curiosity from institutions investing in cryptocurrency. From hedge funds to banks, many large institutions are now exploring the possibilities for crypto-based assets. The increasing interest from institutions can bring stability to the crypto market and result in more expensive prices.

Regulations from the Government

As the market for crypto is maturing and mature, governments across the globe are starting to create more favorable rules for cryptocurrency. This is likely to attract more investors and boost the adoption rate of crypto.

More use cases for blockchain

The technology that underlies the majority of cryptocurrencies, blockchain is a broad range of possible applications beyond the realm of financial transactions. In addition to supply chain management, voting and other systems companies are starting to explore how they can utilize blockchain technology. This could drive more investment and interest in crypto.

Advancements in technology

Crypto and blockchain technology are still in the early stages of development. As advancements continue to be made in areas like security and scalability, potential of cryptocurrency assets will continue to increase. This could lead to more adoption and higher prices.

Global economic uncertainty is growing

In the current economic uncertainty caused due to the COVID-19 pandemic and other factors increasing numbers of investors are starting to look for safe haven investments like cryptocurrency and gold. As the global economic situation remains uncertain and uncertain, this could lead to increased demand for crypto and increased prices.

Interest from retail investors

The institutional investors aren’t alone in ones showing interest in crypto. Retail investors, or even individual investors, are also starting to participate in the market for crypto. With increasing numbers of people become aware of crypto and the best ways to invest in it This could result in increased demand and higher prices.

Growing awareness and acceptance of cryptocurrency

As the market for crypto continues to mature, more and more people are starting to learn about and appreciate the concept. As the awareness and acceptance of cryptocurrency grows, this could lead to increasing numbers of people purchasing or holding cryptocurrency, and this could drive up prices.

best crypto scalping platform

Decentralized finance (DeFi) is an area that is rapidly expanding in the crypto market that allows the provision of financial services created on top of blockchain technology. As DeFi grows and more projects and platforms become available, this could result in increased use and increased prices for crypto.

The development of crypto payment methods

As the crypto market grows as more and more businesses are starting accepting crypto payments as a means of payment. This could lead to increased use of crypto in everyday transactions and higher prices.

More investment from sovereign wealth funds

Sovereign wealth funds, which are owned by the state as investment vehicles, are beginning to explore crypto as a potential asset class. As more funds allocate a portion of their assets to digital currencies, this could result in a rise in demand and higher prices.

Cryptocurrency is used for cross-border payments

One of the major benefits of crypto is the capability to perform swift and affordable cross-border transactions. As more and more people and businesses start to utilize cryptocurrency for international transactions, this could lead to increased demand and higher prices.

The number of ATMs that accept crypto is increasing.

With the amount of ATMs that accept crypto increase it will be more convenient for people to buy and keep cryptocurrency, which can drive up demand and prices.

Development of security tokens

Security tokens, or digital assets that are used to represent ownership of an asset, like real estate or stock, are a rapidly growing sector of the crypto market. Since more and more security tokens will be issued and traded, it could lead to increased demand and consequently higher prices for crypto.

More adoption by merchants

With the increasing number of businesses begin accepting crypto as a means of payment, it will make it more convenient for customers to use and hold crypto, which could boost demand and increase prices.

So, is crypto likely to rise in 2023? Only time will tell. However, with these aspects to consider, it’s possible that the crypto market will see a recovery in 2023. For those committed to the long run Being patient and disciplined will be key.