New Year With New HOPE for Crypto!

With the hope of a better world, a new year has come to us and hopefully, 2023 will bring some positivity after the year around negativity in the crypto-sphere. The numerous hacks with the clashes of some big players like the LUNA, FTX, and tons of FUDs, still the market is holding the $750 billion market cap which is a positive sign till the end of the year. The overall sentiment is still negative but things are going to change this year as per history is showing the evidence and hopefully this year the history will be true again! The historical graph shows that there is always a mega dump after the mega bullishness of the BTC price. It is clear that there is a mega dump in 2014, 2018, and 2022 which is similarly replicating the previous price trends. And after the mega dump, the slow and steady market goes to a dramatic bullishness after the halving year!

According to Coingape's recent post, the crypto derivative will be an interesting driving force for pushing the space to the bull season, which is quite factual as there is a massive involvement of crypto towards the derivative, which is a positive sign. The full article can be found here-Crypto Evolution in 2023: How Cryptocurrencies Market Will Get Better? Also, decentralization is very crucial for the cryptocurrencies but there have been numerous incidents in 2022 which have arisen many question marks for the true decentralization crisis in the big projects like BNB and it is clear that the whole space is accumulated in some strong whale's hand which should be addressed in future to make the space more insightful. And it can be a common phenomenon that large companies will continue to purchase tiny, derivatives businesses in the space! And so, the decentralized derivatives markets are expected to expand very rapidly.

Perpetual futures make up the majority of decentralized derivatives volume, much as centralized venues. The daily volume of decentralized perps approaches 3 billion USD per day. Despite strong growth, fewer than 5% of the total volume of crypto derivatives is made up of decentralized perpetual volume. The value of the platforms that support decentralized perpetual swap protocols will increase as more projects and protocols are built upon them. Participants in the market will be thrilled to see the development of other crypto-native innovations like everlasting options in addition to decentralized futures, options, and structured products.- source

Another historical thing happen in 2022 which is for the first time in history that the price of Bitcoin has never seen a quarterly green candle in the year 2022! Is it a great indication of the bad days or just it is due to the massive economical crisis around the world and the doses of FUDs around the space are liable for such a red year which may never come in the history of BTC price? I think is a just fact and it has no impact on this year though the price is still stuck to a crucial moment for a long period of time which is also the first time for BTC. Everything is still covered in uncertainty but hope the sooner the situation change with the movement in the deeper side or with the explosion in the price.

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Amid the dip in BTC price still, some fears are there for the inflation numbers as reported by the Cointelegraph-US will see new ‘inflation spike’ — 5 things to know in Bitcoin this week. The price is stuck to a narrow range for a couple of months and even after the loss of a 70% in price in 2022 which is really a concerning issue for the holders! And the new people are fearing to invest as usual now they are not getting any positive view in BTC which happened in the previous dumped markets also. It is a part of the market sentiment.

Are you waiting for 12K? If the answer is yes, then you should place your orders now from 16K to 10K ranges in multiple orders with the most portion of your funds around the 12K range. it is because the price may not exist at this range for a minute and which can be happened at any moment! So, your preparation should be finished as this is the best time for the entrance.

BTC/USD annotated chart. Source: Il Capo of Crypto/ Twitter

What to expect in 2023? It is quite meaningful and realistic hope that the market will be in positive movement after a sudden dump anytime and the price of BTC will touch the bottom for the next season which is expected to happen in no time as the price is already very close to the bottom! What is your thought about the bottom? Is it going to touch 12K or even deeper to 10K? Let us know in the comments.

Thanks a lot for your time and attention, if you have any queries, let me know in the comments. I will catch you at the next one.
Have a nice day!