The crypto market is starting to recover. Most cryptocurrencies have increased by more than 8% since last week. Bitcoin rose more than 6% and Ethereum rose more than 18%. However, some cryptocurrency analysts believe a price crash could occur by 2023. Will Cryptocurrencies Crash in December 2022? Will Crypto Winter Last Until Q1 2023?
Why is Cryptos Up?
Two important events occurred last week that helped push the crypto market out of consolidation. Hopefully, this push will continue for a long time. However, other analysts predict that the boost is simply part of a technical sideways trend.
- England approved Moves To Make Cryptocurrencies More Legitimate
- Elon Musk, famous for accepting cryptocurrencies, has officially acquired Twitter
The crypto market has grown by an average of 10%, increasing its market cap valuation by $1 trillion.
Is Crypto Winter Coming Yet?
In my previous article, October It will be good. Our usual case hit the mark as the price of Bitcoin rose from his $18,500 low to his current $20,500. Let’s take a look at December 2022 and his December performances before that. Bitcoin has 40% market power, so Bitcoin moves are mirrored across the crypto market.
Without the previous crash, December was mostly bullish. You can notice this under normal circumstances by looking at Figure 1 below. However, in particular his December crypto every time he crashes, the next one tends to be bearish. December 2021 was bearish, so assume December 2022 will be bearish as well. However, the impact should be about 50% (about -9%).
Crypto Analysis: Will Crypto Winter Continue Through 2023?
Well, it all depends on how the first quarter of 2023 plays out. We can say that it is officially over. Winters are harsh and usually mean prices drop. After Q1 2023, the market cap of cryptocurrencies should reach $1.1 trillion.
On the other hand, if the price falls by Q1 2023, this means Bitcoin will fall below $18,500. As a result, the low price may be expected to hit a bottom of $12,000 per Bitcoin. However, this scenario is still unlikely.
Where can I buy cryptocurrencies by 2023?
There are many solid exchanges that offer crypto trading, staking, and other services related to crypto. CryptoTicker recommends using:
–> also check. exchange comparison page For a detailed overview of each, see <–
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