Stargate Crypto Price

It’s been a rough journey for the cryptocurrency market through 2022. In November the market was down by more than 70 percent from its previous high on November 20, 2021. And just when things were looking down and down, the FTX crash turned them more dire. The question is, can the crypto market recover in 2023?

Crypto Market Dips are Cyclical

The market for crypto, particularly Bitcoin has experienced its fair share of dips over the years. And every time, it has bounced back with a big rally.

For instance, in 2013, Bitcoin reached a peak of $1,160. It then plummeted for a full year before reaching a bottom of $150. But, in 2017 it broke that record, and hit a new highest of $19,600. In 2018, and it was trading at $3,100. And in the year 2020 it struck that resistance and hit a new highest of $68,000 in November 2021. Just like that, we’ve seen another dip. 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

Just like we’ve seen before, fall-offs are typically followed by a lengthy bull run that finally overcomes the resistance set by the previous market’s highest price. This pattern can be seen in more than Bitcoin but also in other cryptocurrencies.

Growing Use of Crypto and Blockchain

Crypto and blockchain technology have come a long way in recent years. With more and more businesses and industries adopting it, its usage and acceptance is increasing. From banking to gaming the use of crypto is increasing in a myriad of ways. This growing demand could result in more people being involved in the crypto market, which in turn could drive the prices up.

Increased institutional interest in cryptocurrency

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

Regulations from the Government

As the crypto market is maturing, governments around the world are starting to create more favorable rules for crypto. This will help draw more investors and increase the mainstream adoption of crypto.

More use cases for blockchain

The technology that is the basis of many cryptocurrency, blockchain, has a wide range of possible applications beyond just financial transactions. From supply chain management to voting systems, more industries are beginning to look at ways they can benefit from blockchain technology. This could increase investment and enthusiasm in cryptocurrency.

Advancements in technology

Blockchain and cryptocurrency technology is still in the early stages of development. As progress is made in areas such as security and scalability, potential of crypto assets will continue to grow. This could lead to greater acceptance and higher prices.

Global economic uncertainty is growing

With the ongoing instability in the economy caused due to the COVID-19 pandemic, as well as other causes increasing numbers of investors are looking for safe haven investments like bitcoin and even gold. Since the economic outlook for the world is uncertain, this could lead to more demand for crypto as well as increased prices.

Retail investors are able to earn interest

The institutional investors aren’t alone in people who are interested in cryptocurrency. Retail investors, or even individual investors, are also starting to invest in the cryptocurrency market. As more and more people are educated about crypto and how to invest in it, this could lead to increased demand and higher prices.

Growing awareness and acceptance of crypto

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

stargate crypto price

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

The development of crypto payment methods

As the market for crypto grows as more and more businesses are beginning accepting crypto payments as a means of payment. This could lead to increased use of crypto in regular transactions and an increase in the cost of transactions.

More investment from sovereign wealth funds

These funds are state-owned investment vehicles, are now beginning to show interest in crypto as an asset class. As more funds allocate a portion of their portfolio to crypto, this could increase demand and more expensive prices.

Cryptocurrency is used for cross-border payments

One of the main advantages 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 cryptocurrency for international transactions, it could result in increased demand and higher prices.

Increasing numbers of crypto ATM’s

The number of crypto ATM’s increase it will be easier for individuals to purchase and hold cryptocurrency, which can increase demand and price.

Security tokens are developed for development

Security tokens, which are 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. Since more and more security tokens will be created and traded, it can lead to a higher demand and higher costs for cryptocurrency.

Merchants are more likely to adopt the concept.

In the event that more retailers start accepting crypto as a form of payment, it will make it easier for consumers to utilize and store crypto, which could increase demand and price.

Will crypto be on the increase in 2023? The only way to know is time. With these things in mind, it’s likely that the crypto market could see a recovery in 2023. For those looking to invest for the long-term patience and discipline is essential.