Grabs $40 Million For Its Crypto Banking Services

It’s been a tough journey for the cryptocurrency market through 2022. In November, the market had dipped by more than 70 percent from its previous high at the end of November. When things were getting worse after the FTX crash made them look even more dire. What is the likelihood that the cryptocurrency market rebound in 2023?

Crypto Market Dips are Cyclical

The market for crypto, particularly Bitcoin has experienced many dips in the past. And every time, it’s bounced back by a massive rise.

For example, in 2013, Bitcoin reached a peak of $1,160. It then plummeted for a full year, reaching a low of $150. In 2017, it broke that record and reached a new record high of $19,600. Then, in 2018, the price was at $3,100. In 2020, the price broke through that resistance and hit a new highest of $68,000 in November 2021. Then, just like that we’ve seen another dip. But history shows us that after each dip the bull runs.

Every Dip is Followed by a Long Bull Run

Similar to what we’ve witnessed before, fall-offs are typically followed by a prolonged bull run that finally surpasses the resistance created by the market’s previous highest price. This pattern is evident not only in Bitcoin but also in other cryptocurrency.

Growing Use of Crypto and Blockchain

Crypto and blockchain technology have come a long way in the last few years. With more and better companies and industries embracing it, its usage and acceptance is rising. From finance to gaming the use of crypto is increasing in many ways. And this growing use case can lead to more people getting involved in the market which could drive the prices up.

The rise in interest of institutions in cryptocurrency

In recent times we’ve witnessed a rising demand from investors of institutional scale in cryptocurrency. From hedge funds to banks and even large corporations are beginning to investigate the possibilities in crypto currencies. This increased interest from institutions could bring more stability to the market for crypto and result in higher prices.

Regulations of the government

As the crypto market grows, governments around the world are beginning to develop more favorable rules for cryptocurrency. This is likely to attract more investors and increase the adoption rate of crypto.

Blockchain has many more applications.

The technology that underlies many cryptocurrencies, blockchain, has a wide range of potential use cases beyond the realm of financial transactions. In addition to supply chain management, voting and other systems companies are exploring ways they can benefit from blockchain technology. This will stimulate more investment and excitement in crypto.

Advancements in technology

Blockchain and cryptocurrency technology is still in the beginning stages of development. As advancements continue to be made in areas like security and scalability, the potential of crypto assets will continue to grow. This could result in more use and increase in prices.

Global economic uncertainty is growing

Due to the constant economic uncertainty brought on by the COVID-19 pandemic, as well as other causes, more and more investors are starting to look for safe haven investments like bitcoin and even gold. As the global economic situation is uncertain it could result in an increase in demand for crypto and increased prices.

Retail investors are able to earn interest

Institutional investors aren’t the only one who’s showing an interest in crypto. Retail investors, also known as individual investors, are also starting to invest in the crypto market. In the future, as more people learn about cryptocurrency and investing in it this could result in an increase in demand and consequently higher prices.

The growing awareness and acceptance of crypto

As the market for crypto grows as more and more people are beginning to become aware about and appreciate the concept. As understanding and acceptance of cryptocurrency grows, it will lead to more people purchasing and holding crypto, which could drive up prices.

grabs $40 million for its crypto banking services

Financial decentralization (DeFi) is an area that is rapidly expanding in the crypto market that allows financial services to be developed using blockchain technology. As DeFi expands and more platforms and projects are launched, it will lead to a rise in adoption and increased prices for crypto.

The development of crypto payment methods

As the crypto market grows as more and more businesses are starting using crypto to be a method of payment. This could lead to increased use of crypto in everyday transactions and an increase in the cost of transactions.

More investment from sovereign wealth funds

The sovereign wealth fund, also known as government-owned instruments for investing, are now beginning to show interest in crypto as an asset class. As more of these funds devote a percentage of their portfolio to crypto, this could increase demand and more expensive prices.

Cryptocurrency is used for cross-border payments

One of the major benefits of crypto is its ability to facilitate swift and affordable cross-border transactions. As more and more people and businesses are beginning to make use of crypto for international transactions, this could lead to increased demand and higher prices.

An increasing number of crypto ATM’s

As the number of ATMs for crypto continue to increase it will be easier for people to buy and hold cryptocurrency, which can drive up demand and prices.

The development of security tokens

Security tokens, also known as digital assets that signify ownership in an asset such as real estate or stock are rapidly expanding sector of the crypto market. With the increasing number of security tokens being issued and traded, it can lead to a higher demand, and thus higher prices for crypto.

More adoption by merchants

As more and more merchants accept crypto as a means of payment, it will make it easier for customers to hold and use crypto, which can increase demand and price.

So, will crypto increase in 2023? Only time will tell. With these things to consider, it’s likely that the cryptocurrency market will see a recovery in 2023. And for those who are committed to the long run Being patient and disciplined is crucial.