Bear or Bull Run? What to Expect from the Crypto Market in 2023: Report

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Are You Ready for the Crypto Bull Run? The digital asset industry had a difficult year in 2022. The $2.2 trillion global crypto market cap has fallen below $800 billion. Prices for the largest cryptos, such as Bitcoin (BTC), and Ethereum (ETH), have fallen by a huge 65% and 69% respectively over the year to date (YTD).
High inflation sentiments meant that physical gold outperformed Bitcoin significantly. This was the second-lowest YTD return for Bitcoin ever since its launch. While many cryptos were unable to absorb the turbulence, there was one winner.

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Are you ready for a crypto bull run in 2023
According to the report, BTC’s recent price fall closely reflects the bear market patterns that can be found in previous cycles. The 2018 bear market lasted more than 364 days, while the 2014-15 bear markets lasted around 407 days.
Bitcoin’s price has fallen to 376 days after its peak, but it will still be the lowest point in Bitcoin’s history if it reaches the bottom by 2023. There are many potential catalysts. The FTX proceedings could push regulators to adopt tougher rules for crypto markets.

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Experts believe this is a positive sign related to the U.S. spot BTC ETF launch. This will allow for a more accurate classification of tokens by the end.
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What can affect the crypto market?
The MiCA bill is still to be voted on by the European Union Parliament in February 2023. The bill’s effect will only be in place for 12 to 18 months, to cover the entire market. The Grayscale lawsuit against the SEC will be next in line in the first quarter 2023.

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The bigger space to increase BTC exposure will be provided by the tightening macro environment and Bitcoin correlation to macro analogies of the last bear market.
2013 will see a low level of trading activity. The crypto market may look duller than it did in the past three years. Experts suggest that investors should be patient and maintain a long-term position.
BTC price to rise?
The prediction is that Bitcoin prices will trade in a flat range for the year. BTC will close at a higher level than its annual opening in 2023. As crypto trading activity declined, the correlation between Bitcoin and equities will likely to decrease.

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The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

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