Cryptocurrency market trends for 2023

In 2009, Satoshi Nakamoto created Bitcoin, which came to revolutionize the market. Today, a few years later, in addition to Bitcoin , we also have Ethereum, among many other cryptocurrencies. And they have increasingly attracted a legion of admirers. Investors believe in a great potential for Bitcoin appreciation, as this has been proven over time. 

Even with the currency’s volatility, investors see it as an advantage to make money, because in the low it is possible to buy, and in the high, sell or simply keep to accumulate in the long term. 

Understanding the cryptocurrency market scenario and trends is essential to benefit from its volatility. Why should you understand the crypto market? Look at the world. Brands are adapting crypto payment at the highest rate. For instance, SocialWick allows Crypto payments for the services. Other big brands are also accepting crypto, so it’s a big future. Bitcoin, as well as other cryptocurrencies, came to revolutionize the way we handle money. A range of excellent investment opportunities has opened up or even opportunities that are available in each cryptocurrency’s own projects. However, even though it is a market with great chances of making money, it is necessary to understand what you are investing in. 

We are approaching the end of 2022 and this was a difficult year for variable income assets, such as stocks, real estate funds, investment funds, among others. And for cryptocurrencies this scenario was no different. 

The first digital currency to be created was Bitcoin, so, although it is not a rule, Bitcoin ends up being a representative of cryptocurrencies, that is, it ends up dictating the trends of the crypto market. If its value declines, it makes investors wary of investing in cryptocurrency projects. However, if its value increases, it may improve investor confidence to bet on other projects. 

Generally speaking, after a big bull run, cryptocurrencies usually have periods of big corrections. Even in periods of corrections, it is possible to observe that Bitcoin has always been in an uptrend. 

If we look at the graph, we will see that, over the years, Bitcoin has always grown, with some downturns, but always with a significant uptrend, and despite this, when the Bear Market period arrives, it is questioned. This is exactly what has been happening in the year 2022. 

What is Bear Market?

Bear Market, in translation, means “Bear Market”. This expression is used in periods of devaluation of an asset, accompanied by pessimism on the part of investors. When Bitcoin is at a high value, it is normal for investors to become optimistic and buy the currency. Now, when its value drops, there is a withdrawal of investors to buy Bitcoin. 

This year, Bitcoin has reached 70% below its price. This discourages investors and many end up discrediting the project, which reflects not only on Bitcoin, but also on other cryptocurrencies.

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