What Experts Say about Crypto Market in 2023 - Experts predict the second half of 2023 may be the good time for the crypto market to grow again and many new crypto trends will appear in 2024.

    After a year of catastrophic decline, the crypto market still looks gloomy in early 2023 and unlikely to reach new peaks in the near future. Both Bitcoin and Ethereum have lost more than 65% of their value in 2022. Many major crypto companies and investors went bankrupt, the market was in a state of extremely fear and negative.

    2022 was also the year of unprecedented events in the history of the crypto market, in which not only retail investors but also large funds/companies suffered huge losses. One of the most notorious incidents was the collapse of UST/LUNA, which led to the crash of a series of investment funds Three Arrows Capital, Celsius, Voyager, etc. This along with FTX collapse sent the crypto market to a standstill.

    As some crypto market research sites said, 2022 has purged the crypto market as many projects were inflated in value, driving the market far beyond its true value. Mảo crypto corrections are necessary for long-term growth.

    Analyst firm Delphi Digital thinks that the crypto market is somewhat negative in early 2023 but will have a more positive outlook for the bottom half of 2023. 2023 will be an accumulation phase, setting the stage for the next cycle. If history repeats itself, the market will likely form a bottom in the first quarter of 2023 before entering an uptrend in mid-2023. The market will see the strongest growth in the period 2024-2025.

    Centralized exchanges like Coinbase and also have an optimistic view of the market in 2023. Crypto exchange Huobi predicts that the crypto market will bottom out in early 2023.

    In the first month of 2023, the market showed an optimistic signal with the strongest growth since October 2021. Bitcoin rallied more than 43%, the highest level since August 2022 before closing the monthly candle at $22,900. Ethereum was also up more than 30% and closed the month at $1,577. While the Bitcoin price is still quite low from its all-time high of $69,000 in November 2021, the bull market has brought hope to many investors.

    However, many large investors and institutions still believe that the Bitcoin price remains bearish for the foreseeable future. They see this rally as a trap instead of a real bull run. In fact, at the beginning of March, the Bitcoin price hit  a near-two-month low and some tokens even lost up to 93% of their value.

    The market last year faced many difficulties, investors predicted BTC would not grow strongly. However, up to 65.8% of investors said they would continue to pour money into the crypto market. According to experts, the crypto market has a 4-year cycle that  coincides with the halving event for the largest coin in the market, Bitcoin. The next Bitcoin Halving is expected to happen around mid-2024. If history repeats itself, the crypto market could bottom out in late 2022 or early 2023, before entering an accumulation phase in the second half of 2023 and 2024.

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