![]() The pending resurgence of non-fungible tokens (NFTs) is another trend that crypto experts say they see on the horizon. Resurging and Expanding Use Cases for NFTs The next BTC halving won’t occur until 2024. History from the last two halvings (20) shows that when this happens, the market is in the early stages of a bull market and a significant run occurs one year later. In the past, Bitcoin halvings have been followed by a bull market.īTC halving happens every four years, cutting the rate at which bitcoins are released. Regulatory action, the pausing of Fed rate hikes, and user sentiment could all play a part in Bitcoin’s near-term value.Īnother interesting correlation exists between BTC halvings and bull markets. Some even suggest that Bitcoin will recover in 2023 and hit $35,000 by the end of the year. ![]() In fact, CoinWire’s survey from December 2022 shows 64% of investors believe the market is close to reaching rock bottom. In mid-January, Bitcoin was just 10% off of its 200-day moving average.īitcoin climbed back above $22,700 in mid-January.Ĭertain analysts say that climbing above the 200-day moving average signals the end of the bear market. ![]() However, there are positive trends emerging. In recent days, the market cap has been at levels that are down 65% from all-time highs set in 2021.Ĭryptocurrency’s market cap has fallen dramatically in recent months. The current bear market (now sitting at 350+ days) was fueled by the fall of the Terra ecosystem, the collapse of FTX, massive withdrawals by users, and significant FUD. The market has faced similar bear markets three times, each lasting longer than 20 months and resulting in declines of more than 70%. Searches for “crypto winter” show growth over the past few years. With asset prices down considerably and investors fleeing, the cryptocurrency market clearly sits in a bear market in early 2023. In this report we'll share the biggest trends in the crypto space happening right now (in 2023).Īnd those that are likely to continue through 2024 and beyond. However, the cryptocurrency market still maintains a $1.05 trillion market cap.Īnd 320 million people across the globe use cryptocurrency. ![]() Ripe with fraud and falling prices, many analysts have questioned crypto’s ability to survive and endure. The past year or so has been a wild ride in the cryptocurrency space. ![]()
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