The price of Bitcoin is rising, what does this mean for 2023?

Due to the positive breakout of many cryptos in the last week, many investors are optimistic about the future of cryptos. Bitcoin (BTC) and other cryptocurrencies have had a rough time in 2022 due to internal and external events.

The decline in the entire crypto market between November 2021 and April 2022 was seen as a natural and healthy decline from past peaks. When TerraUSD (UST), the once-thriving algorithmic stablecoin in the Terra Luna (LUNA) ecosystem, suddenly collapsed in May, sentiment changed. The market went from a healthy pullback to a full-blown bear run.

Companies like Three Arrows Capital, Celsius Network and Voyager did not survive the Terra Luna crash because they had a lot of money in UST. Many individuals have also lost their savings. All in all, Terra Luna’s crash has cost the crypto world dearly.

In November 2022, another crypto giant went bankrupt due to a catastrophic event. Sam Bankman-Fried’s FTX exchange ran into liquidity problems amid reports of an unhealthy relationship with sister company Alameda Research.

Sentiment surrounding crypto worsened again, causing the Bitcoin price to fall to the November 2020 level of $15,466. Ethereum, the second largest cryptocurrency, also fell sharply to a value of $1,075.

Crypto experts do not expect 2023 to be a bullish year for crypto, some even expect the crypto winter to last until December. However, there are a number of factors that could explain the current increases in crypto prices. These peaks have been particularly visible in altcoins over the past week.

Reduced inflation is sending investors back to crypto and riskier assets

The Bitcoin price rose above $17,000 on Monday, the highest level in three weeks. Market analysts suspect it is a response to reduced inflation. Altcoins are also rising rapidly, for example the price of Ethereum rose by more than 4%.

The upward trend came after the Federal Reserve Bank of New York announced its expected inflation rate for December. Inflation came in at 5%, which was lower than the expected 5.2%.

According to CoinDesk, the expected inflation rate of 5% is a sign of a decrease in inflation for the second month in a row. This 5% is also the lowest since July 2021. The measures taken by the Federal Reserve to control inflation affect the price of both Bitcoin and Ethereum.

Many investors are betting that falling inflation is an indication of a sustainable market recovery. This is likely the reason for an increase in long bets on both ETH and BTC. The Fed also expects the interest rate to be 5 per cent on average.

Bitcoin Miners Break Months of Selling Wave as Crypto Price Rises

Many Bitcoin miners were forced to sell their Bitcoin reserves in 2022 because crypto took a beating. FTX’s bankruptcy worsened the situation for miners even more, forcing many miners to shut down their minig computers.

The founder of Reflexivity, a crypto research platform, William Clemente said that the high pressure on Bitcoin miners to sell their reserves has subsided over the past four months.

crypto prices

The on-chain data from Glassnode, one of the largest crypto analytics platforms, confirms that Bitcoin miners are selling fewer Bitcoins. In addition, Bitcoin miners’ reserves peaked on January 8.

Extreme fear is driving crypto price recovery

Experienced investors think you should invest when everyone else is pulling out because the price will only go down. However, it is questionable whether this is wise given the turbulent crypto year 2022.

The Krypto Fear & Greed Index presented by the Alternative.me platform shows that the market sentiment is very bearish. The index reads at 26, which means that the market is very concerned. Over the past month, the index has consistently hovered around 26.

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Crypto Fear and Greed Index

Based on data from Santiment, despite the positive rise in crypto prices, the volume traded in altcoins is low. If the crypto market is to maintain its upward trend, it needs the support of investors, especially whales. According to a report from CryptoQuant, the pressure on whale sales eased in December, showing that the market sentiment is positive for the coming months.

Altcoins that give profit quickly

The rise in crypto prices may make 2023 a better year for crypto, but nothing is certain after 2022. Therefore, investors should make informed decisions when diversifying their crypto portfolio.

New crypto projects may provide a way out of the bear market of recent months. The projects discussed below are in pre-sale and are already performing very well before going public.

Meta Masters Guild (MEMAG) – Presale launched today

The latest presale to hit the market is the Meta Masters Guild. This project focuses on the Play-to-Earn market and wants to develop a platform on which it can offer more games. All these games will use the same cryptocurrency, the MEMAG token.

The pre-sale was launched today, which means you can now invest in the token at an extra affordable price. Where now you only pay $0.007, it has already increased to $0.023 at the end of the presale.

Now for the Meta Masters Guild Presale

Dash 2 Trade (D2T) is listed on Gate.io

A team of crypto trading experts is launching a new platform where users can view and manage their crypto portfolio. The team previously founded Learn2Trade and now goes one step further with Dash 2 Trade (D2T). D2T provides users with analysis of crypto and trading tools.

The platform is packed with services and tools that traders can use to discover the cryptocurrency market. Examples include trading signals, a social sentiment gauge, and on-chain analytics. Dash 2 Trade’s platform makes it easy to spot interesting coins.

In addition, Dash 2 Trade offers a strategy builder where investors can improve their trading skills and share ideas with other traders. There is also a presale dashboard where new projects can be discovered before they launch. The Dash 2 Trade platform helps you earn more.

The Dash 2 Trade presale ends in less than 24 hours. After that, it will be launched on the centralized exchange Gate.io. Gate.io welcomes the project with an initial free offering and a $120,000 airdrop.

Visit Dash 2 Trade here

Fight Out (FGHT): Groundbreaking in the fitness industry

This revolutionary cryptocurrency platform will change the way we think about fitness. Fight Out combines a fitness app with a chain of gyms to motivate users to lead a healthy lifestyle.

Users earn rewards by completing training and other challenges. Users can also earn the FGHT token when performing M2E tasks. In addition, users can flourish in a motivating community.

Additionally, Fight Out combines with Web3 by allowing users to create their own NFT avatars. These can be minted and then used in the metaverse.

This brand new technology has the potential to revolutionize the fitness industry by making it more accessible and interactive. Join Fight Out and live a healthier life.

Advance sales of Fight Out have already earned $2.81 million. Investors can now earn another 50% bonus, which will disappear when $5 million is raised for the project.

Visit Fight Out here

C+Charge (CCHG): Link EV users to Carbon Credits

Using blockchain technology, C+Charge has developed a peer-to-peer payment system for electric vehicle (EV) charging stations. Users get their own electronic wallet with which they can pay to charge their electric cars. Payment is made with C+Charge token.

The number of electric cars on the road is increasing enormously, which means that the demand for charging stations is also increasing. In addition, the electricity sector struggles with standardization for charging electric cars.

C+Charge provides access to CO2 credits and a simple payment system for charging electric cars. Both users and operators of the charging stations pay and are paid with the CCHG token.

C+Charge’s pre-sale is going well, $243K has already been raised. In 24 hours it has doubled with a $100K purchase.

Visit C+Charge here

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