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It’s been a rough experience for the crypto market through 2022. By November the market was down by more than 70 percent from the previous high on November 20, 2021. When things were looking down after the FTX crash turned things more dire. The question is, can the crypto market be able to recover by 2023?

Crypto Market Dips are Cyclical

The cryptocurrency market, specifically Bitcoin has had many dips in the past. Each time, it’s bounced back with a huge increase.

For example, in 2013, Bitcoin reached a peak of $1,160. It then plummeted for over a year before hitting a low of $150. However, in 2017 it broke that record, and hit a new highest of $19,600. In 2018, the price was at $3,100. And in the year 2020 it struck through the resistance and hit a new highest of $68,000 in November 2021. And just like that, we’ve witnessed another drop. However, history has shown us that after each dip the bull runs.

Every Dip is Followed by a Long Bull Run

As we’ve seen before, fall-offs tend to be followed by a lengthy bull run, which eventually overcomes the resistance set by the market’s previous highest price. This is evident in more than Bitcoin but also in other cryptocurrencies.

Growing Use of Crypto and Blockchain

Blockchain and cryptocurrency technology has come a long way in recent years. With more and better companies and industries adopting the technology, its use and acceptance is increasing. From banking to gaming the use of crypto is increasing in a myriad of ways. And this growing use case could lead to more people being involved in the crypto market, which in turn could boost prices.

The rise in interest of institutions in cryptocurrency

In recent times we’ve noticed a growing interest from institutional investors in crypto. From hedge funds to banks and even large corporations are now exploring the potential for crypto-based assets. The increased interest of institutions can bring stability to the crypto market and could lead to more expensive prices.

Government regulations

As the market for crypto continues to mature, governments around the world are starting to create more favorable regulations for crypto. This could help attract more investors as well as increase the acceptance of crypto in general.

Blockchain has many more applications.

The technology that is the basis of many cryptocurrencies, blockchain, offers a variety of potential use cases beyond the realm of financial transactions. From supply chain management to voting systems, more and more industries are starting to explore how they can make use of blockchain technology. This could increase investment and enthusiasm in crypto.

Technologies are constantly evolving.

Crypto and blockchain technology are at the very beginning of development. As advancements continue to be made in areas such as security and scalability, the potential of cryptocurrency assets will continue to increase. This could lead to more use and increase in prices.

Global economic uncertainty is growing

With the ongoing economic uncertainty brought on due to the COVID-19 pandemic and other factors, more and more investors are beginning to look for safe haven assets such as gold and crypto. Because the global economic climate remains uncertain, this could lead to increased demand for crypto and higher prices.

Interest from retail investors

Institutional investors aren’t the only one who’s showing an interest in crypto. Retail investors, or even individual investors are also beginning to participate in the market for crypto. In the future, as more everyday people become aware of crypto and the best ways to invest 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 continues to mature increasing numbers of people are beginning to learn about and appreciate it. As understanding and acceptance grows of crypto, this could lead to more people purchasing and holding crypto, which can increase prices.

military finance crypto price

Decentralized finance (DeFi) is a rapidly growing area of the crypto market, which allows the provision of financial services developed upon blockchain technology. As DeFi expands and more projects and platforms come online, this could lead to increased adoption and more expensive prices for crypto.

Developments in crypto payment methods

As the crypto market is growing as more and more businesses are beginning accepting crypto payments as a form of payment. This could lead to increased usage of crypto in daily transactions, and a rise in prices.

More investment from sovereign wealth funds

These funds are state-owned instruments for investing, are now beginning to look at cryptocurrency as a possible asset class. As more funds devote a percentage or their entire portfolios to cryptocurrency, this could lead to increased demand and higher prices.

Cryptocurrency is used for payment across borders

One of the main advantages of cryptocurrency is its capability to perform fast and cheap cross-border payments. As more businesses and individuals are beginning to make use of cryptocurrency for international transactions this can lead to a rise in demand and higher costs.

An increasing number of crypto ATM’s

With the amount of ATMs that accept crypto continue to increase it will be easier for consumers to purchase and hold crypto, which will boost demand and increase prices.

Security tokens are developed for development

Security tokens, also known as digital assets that represent ownership in an asset like stocks or real estate is a fast-growing area of the crypto market. With the increasing number of security tokens being created and traded, this could result in a rise in demand and higher costs for cryptocurrency.

More adoption by merchants

With the increasing number of retailers start accepting crypto as a form of payment, this makes it easier for people to hold and use crypto, which can increase demand and price.

Will crypto be on the increase in 2023? Only time will tell. With these things in mind, it’s likely that the crypto market will have a rebound by 2023. And for those who are looking to invest for the long run Being patient and disciplined will be key.

It’s been a difficult journey for the cryptocurrency market in 2022. As of November, the market had dipped by more than 70 percent from its previous high on November 20, 2021. Just when the market was getting worse and down, the FTX crash made them look even worse. What is the likelihood that the cryptocurrency market rebound in 2023?

Crypto Market Dips are Cyclical

The crypto market, especially Bitcoin, has seen its fair share of drops in the past. And every time, it’s rebounded by a massive increase.

For instance, in 2013, Bitcoin reached a peak of $1,160. It then plummeted for more than a year before hitting a low of $150. In 2017, it broke that record, and hit a new record high of $19,600. In 2018, and it was trading at $3,100. In 2020, it broke through the resistance, and reached a record high of $68,000 in November 2021. Just like that, we’ve witnessed another drop. But history shows us that at the end of every 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 lengthy bull run that eventually breaks through the resistance created by the previous high price. This is evident not only in Bitcoin but also other cryptocurrencies.

Growing Use of Crypto and Blockchain

Blockchain technology and cryptography have progressed a lot in the last few years. With more and more businesses and industries taking to it, its usage and acceptance is rising. From finance to gaming, crypto is being used in many ways. And this growing use case can lead to increasing participation in the market which could boost prices.

A rise in the interest of institutions for crypto

In recent years we’ve noticed a growing demand from investors of institutional scale in crypto. From banks to hedge funds, many large institutions are starting to explore the possibilities of crypto assets. The increased interest of institutions could bring more stability to the market for crypto and result in higher prices.

Regulations of the government

As the crypto market continues to mature 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.

Blockchain has many more applications.

The technology that underlies the majority of cryptocurrencies, blockchain offers a variety of possible applications beyond the realm of financial transactions. In addition to supply chain management, voting and other systems and more industries are starting to explore how they can utilize blockchain technology. This will drive more investment and interest in cryptocurrency.

Advancements in technology

Blockchain technology and cryptography are still in the beginning stages of development. As advancements continue to be made in areas such as security and scalability, potential of crypto assets will increase. This could lead to more acceptance and higher prices.

Uncertainty in the global economy

In the current economic uncertainty brought on by the COVID-19 pandemic and other factors many investors are looking for safe haven assets like bitcoin and even gold. Since the economic outlook for the world is uncertain it could result in increased demand for crypto and increased prices.

Retail investors are able to earn interest

Investors from institutions aren’t the only one who’s showing an interest in cryptocurrency. Retail investors, also known as individual investors are also beginning to get involved in the cryptocurrency market. With increasing numbers of people are educated about cryptocurrency and investing in it This could result in an increase in demand and consequently higher prices.

The growing awareness and acceptance of cryptocurrency

As the crypto market is maturing, more and more people are beginning to learn about it and comprehend the concept. As the awareness and acceptance of crypto grows it could result in increasing numbers of people purchasing or holding cryptocurrency, and this could raise prices.

military.Finance crypto price

Decentralized finance (DeFi) is an emerging area of the crypto market that enables the provision of financial services built on top of blockchain technology. As DeFi expands and more projects and platforms are launched, it will lead to a rise in adoption and more expensive prices for crypto.

The development of crypto payment methods

As the crypto market continues to grow increasing numbers of companies are beginning using crypto to be a form of payment. This could lead to increased usage of crypto in daily transactions and an increase in the cost of transactions.

More investment from sovereign wealth funds

Sovereign wealth funds, which are state-owned instruments for investing, are starting to explore crypto as an asset class. As more funds devote a percentage of their portfolio to crypto, this could result in a rise in demand and more expensive prices.

Use of crypto for cross-border payments

One of the biggest benefits of crypto is its ability to facilitate fast and cheap cross-border payments. As more individuals and businesses start to utilize cryptocurrency for international transactions this can lead to a rise in demand and higher costs.

An increasing number of crypto ATM’s

The number of ATMs for crypto increase it will be more convenient for individuals to purchase and hold cryptocurrency, which can boost demand and increase prices.

Development of security tokens

Security tokens, or digital assets that signify ownership of an asset, like real estate or stock is a fast-growing sector of the crypto market. With the increasing number of security tokens being issued and traded, it could lead to increased demand and higher rates for the crypto.

Merchants are more likely to adopt the concept.

In the event that more businesses begin accepting crypto as a means of payment, this will make it more convenient for consumers to utilize and store cryptocurrency, which will increase demand and price.

So, is crypto likely to rise in 2023? Only time will tell. But with these factors in mind, it’s likely that the crypto market will be able to see a rebound in 2023. If you’re looking to invest for the long run, being patient and disciplined will be key.