The end of 2022 saw a slight recovery in the crypto market as it gradually recovered from the sustained bearish situation. Several incidents have come to light, including the breakdown of the cryptocurrency exchange, FTX. However, analysts and experts remain confident that 2023 will see a recovery of Bitcoin and other cryptocurrencies.
For the present Bitcoin and the rest of the crypto market will continue to face sustained headwinds. But analysts say the third and fourth quarters could turn into a turnaround period for Bitcoin. They predict that going by past performances, 2023 can be reckoned to turn into a respectable year as the bear phase of the market comes to an end.
Once Bitcoin touches the bottom, they predict that the bull run will finally begin and BTC could make a strong return. Web3 is also expected to herald the beginning of a new digital age.
After studying the cryptocurrency market performance in 2021 and 2022, it becomes evident that the crypto market is likely to bounce back from this long winter. History has borne evidence that a bull market will closely follow a sustained bear run and Bitcoin is expected to lead the recovery drive.
Investors Who Believe In A Bitcoin Turnaround And Persist Can Expect To Be Rewarded
Many investors continue to be in fear for the near future. But many believe and are expected to persevere and sail through this stage. And the phenomenon is expected at the end of this year driving up the prices of BTC and other cryptocurrencies.
Bitcoin has consistently experienced a 4-year cycle and its performance always affects the overall cryptocurrency market for obvious reasons. Throughout its history, BTC has faced many ups and downs, though it has always bounced back after a sustained tumultuous period.
But at this moment, BTC is not yet in the bull market territory. The continuance of Big Tech layoffs and further interest rate hikes are alarming and consistent developments that could prove an impediment.