When 2022 arrived, cryptocurrency investors were on edge. Bitcoin, the most popular cryptocurrency, saw a price increase of 61%, and Ethereum's price had increased by 409% since last year. The top coins began to trend downhill in November 2021, however, after the previous significant spike in 2017, which was followed by an ice bath in 2018. Was a another dramatic correction in the cryptocurrency market imminent?
In the end, the mostly upbeat market momentum of 2021 was defeated by bearish patterns in the spring of 2022. The stock market declined as a result of rising prices, Russia's invasion of Ukraine, and other macroeconomic challenges. Following suit, cryptocurrencies declined significantly more quickly during this time than the S&P 500.
The 2023 calendar could provide vital clarifications.
2023 forecasts for the cryptocurrency market
What will actually happen to the bitcoin market in 2023 and beyond is impossible to predict. More questions remain than there are solutions. But by keeping a watch on a few significant crypto trends as the market changes, you'll be able to choose your investments more wisely.
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