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It’s been a difficult ride for the crypto market through 2022. As of November, the market had dipped by 70% from its previous peak at the end of November. And just when things were getting worse and down, the FTX crash made them look more dire. So, will the crypto market be able to recover by 2023?

Crypto Market Dips are Cyclical

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

For example, in 2013, Bitcoin reached a peak of $1,160. Then it fell for over a year, reaching a low of $150. However, in 2017, it broke the record, and hit a new high of $19,600. In 2018, and it was trading at $3,100. In 2020, the price broke that resistance, and reached a record peak of $68,000 in the month of November 2021. Then, just like that we’ve seen another dip. However, the past has proven that after each dip there’s a bull-run.

Every Dip is Followed by a Long Bull Run

As we’ve seen in the past, dips are usually followed by a lengthy bull run that finally overcomes the resistance set by the previous market’s highest price. This is evident not only in Bitcoin but also other cryptocurrencies.

Growing Use of Crypto and Blockchain

Blockchain and cryptocurrency technology has made significant progress in the last few years. With more and better companies and industries taking to it, its usage and acceptance is growing. From gaming to finance the use of crypto is increasing in a variety of ways. And this growing use case can lead to more people being involved in the crypto market, which in turn could drive the prices up.

A rise in the interest of institutions for cryptocurrency

In recent times, we’ve seen a growing interest from institutional investors in crypto. From banks to hedge funds, many large institutions are beginning to investigate the possibilities for crypto-based assets. The increasing interest from institutions can bring stability to the market for crypto and could lead to higher prices.

Government regulations

As the crypto market continues to mature as it matures, governments all over the world are starting to create more favorable rules for cryptocurrency. This will help draw more investors as well as increase the acceptance of crypto in general.

Blockchain has many more applications.

The technology that underlies many cryptocurrencies, blockchain, has a wide range of possible applications beyond the realm of financial transactions. For example, from supply chain management and voting, many companies are exploring ways they can make use of blockchain technology. This could increase investment and enthusiasm in cryptocurrency.

Advancements in technology

Blockchain technology and cryptography are still in the beginning stages of development. As progress is made in areas such as security and scalability, potential of cryptocurrency assets will continue to increase. This could lead to greater use and increase in prices.

Rising global economic uncertainty

With the ongoing instability in the economy caused due to the COVID-19 pandemic and other factors, more and more investors are beginning to look for safe haven assets like cryptocurrency and gold. Because the global economic climate remains uncertain, this could lead to more demand for crypto as well as more expensive prices.

Interest from retail investors

The institutional investors aren’t alone in one who’s showing an interest in cryptocurrency. Retail investors, also known as individual investors are also beginning to invest in the crypto market. As more and more people learn about cryptocurrency and investing in it this could result in increased demand and higher prices.

A growing number of people are becoming aware of and accepting cryptocurrency

As the crypto market continues to mature as more and more people are beginning to become aware about and understand it. As the awareness and acceptance of cryptocurrency grows, it will lead to more people purchasing and holding crypto, which could drive up prices.

$paint crypto

Financial decentralization (DeFi) is an area that is rapidly expanding in the crypto market that allows the provision of financial services created using blockchain technology. As DeFi expands and more projects and platforms are launched, it could result in increased use and more expensive prices for crypto.

Developments in crypto payment methods

As the crypto market grows, more and more companies are beginning using crypto to be a form of payment. This could lead to an increase in the use of crypto in everyday transactions, and a rise in prices.

Increased investment from sovereign wealth funds

These funds are owned by the state as instruments for investing, are starting to show interest in crypto as a potential asset class. As more funds allocate a portion or their entire portfolios to cryptocurrency, it could lead to increased demand and higher prices.

Utilization of crypto to make cross-border payments

One of the major benefits of crypto is its ability to facilitate swift and affordable cross-border transactions. As more individuals and businesses begin to use cryptocurrency for international transactions this can lead to a rise in the demand for it and a rise in prices.

The number of ATMs that accept crypto is increasing.

The number of ATMs for crypto continue to increase, it will become easier for individuals to purchase and store crypto, which could increase demand and price.

Security tokens are developed for development

Security tokens, also known as digital assets that are used to represent ownership in an asset such as real estate or stock is a fast-growing area of the crypto market. As more security tokens are issued and traded, this can lead to a higher demand, and thus higher prices for crypto.

A greater adoption rate by merchants

With the increasing number of merchants accept cryptocurrency as a method of payment, it will make it more convenient for consumers to use and hold crypto, which could increase demand and price.

So, is crypto likely to rise in 2023? It’s only time to find out. But with these factors to consider, it’s possible that the cryptocurrency market will see a recovery in 2023. And for those who are looking to invest for the long haul, being patient and disciplined will be key.

It’s been a rough journey for the cryptocurrency market until 2022. In November, the market had dipped by more than 70 percent from its previous high in November 2021. Just when the market was looking down after the FTX crash turned them even more dire. What is the likelihood that the crypto market be able to recover by 2023?

Crypto Market Dips are Cyclical

The cryptocurrency market, specifically Bitcoin has experienced its fair share of drops in the past. Each time, it has bounced back with a huge rally.

For instance, in 2013, Bitcoin reached a peak of $1,160. It then plummeted for over a year, reaching a low of $150. But, in 2017, it broke the record, and hit a new high of $19,600. Then, in 2018, and it was trading at $3,100. And in 2020, the price broke through the resistance, and reached a record high of $68,000 in November 2021. And 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 in the past, dips tend to be followed by a prolonged bull run that finally breaks through the resistance created by the market’s previous highest price. This is evident in not just Bitcoin but also in other cryptocurrency.

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 adopting the technology, its use and acceptance is growing. From gaming to finance cryptocurrency is being utilized in a variety of ways. The growing popularity of crypto can lead to increasing participation in the market, which in turn could boost prices.

Increased institutional interest in crypto

In recent times we’ve noticed a growing demand from investors of institutional scale in cryptocurrency. From banks to hedge funds, many large institutions are beginning to investigate the possibilities of crypto assets. The increased interest of institutions can bring stability to the crypto market and result in greater prices.

Regulations of the government

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

A broader range of blockchain applications

The underlying technology behind many cryptocurrency, blockchain, is a broad range of possible applications beyond just financial transactions. For example, from supply chain management and voting, many industries are beginning to look at ways they can utilize blockchain technology. This could stimulate more investment and excitement in cryptocurrency.

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 increase. This could lead to more acceptance and higher prices.

Uncertainty in the global economy

In the current instability in the economy caused by the COVID-19 pandemic as well as other factors many investors are beginning to look for safe haven investments like cryptocurrency and gold. As the global economic situation is uncertain, this could lead to an increase in demand for crypto and increased prices.

Interest from retail investors

Institutional investors aren’t the only people who are interested in cryptocurrency. Retail investors, or individual investors are also beginning to get involved in the cryptocurrency market. With increasing numbers of people are educated about crypto and how to invest in it this could result in increased demand and higher prices.

Growing awareness and acceptance of cryptocurrency

As the crypto market grows, more and more people are beginning to learn about and understand it. As understanding and acceptance of cryptocurrency grows it could result in more people purchasing or holding cryptocurrency, and this could raise prices.

paint crypto

Financial decentralization (DeFi) is an area that is rapidly expanding in the crypto market that allows the provision of financial services developed upon blockchain technology. As DeFi continues to grow and more platforms and projects become available, this could lead to increased adoption and increased prices for crypto.

The development of crypto payment methods

As the market for crypto continues to grow as more and more businesses are beginning to accept crypto as a method of payment. This could result in increased usage of crypto in daily transactions and higher prices.

Increased investment from sovereign wealth funds

These funds are government-owned investments, are beginning to look at crypto as an asset class. As more funds devote a percentage of their portfolio to crypto, this could increase demand and higher prices.

Utilization of crypto to make international payments

One of the biggest benefits of crypto is its ability to facilitate swift and affordable cross-border transactions. As more businesses and individuals start to utilize crypto 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 continue to grow it will be easier for individuals to purchase and hold cryptocurrency, which can boost demand and increase prices.

Security tokens are developed for development

Security tokens, also known as digital assets that signify ownership in an asset like real estate or stock, are a rapidly growing segment of the cryptocurrency market. With the increasing number of security tokens being issued and traded, it could result in a rise in demand and higher costs for cryptocurrency.

More adoption by merchants

With the increasing number of businesses start accepting crypto as a form of payment, this makes it easier for customers to utilize and store cryptocurrency, which will boost demand and increase prices.

Will crypto be on the grow in 2023? Only time will tell. But with these factors being considered, it’s possible that the cryptocurrency market will see a recovery in 2023. And for those who are in it for the long haul patience and discipline is crucial.