When Will the Crypto Market Go Back Up?

As we all remember, 2022 was a challenging year for the cryptocurrency market. When the market drop started in spring, all cryptocurrency prices collapsed. As usually happens, the decline began with the world’s first crypto, Bitcoin. As a market leader, this asset always sets the trend for the entire market. Here are a few reasons why crypto markets collapsed:

  • The news background was not favorable
  • Binance temporarily blocked BTC withdrawals due to some technical problems
  • Crisis was just around the corner
  • A full-scale war was started
  • FED’s increased rates.

All these factors caused the real time crypto prices drop, which continues to the present day. In addition, revealed financial problems of the FTX platform caused another drop in the market in November 2022. As we can see, many factors can shake the industry and pull prices down. However, that does not mean crypto is dead.

Will Cryptocurrency Prices Go Up?

One of the characteristics of the crypto market is constant price fluctuations. The fact is that this field is still very young and too sensitive to news background and other factors. The market lives by cycles: up and down trends, also called “bull” and “bear” tendencies. These trends always replace one another, so it is expected that the day will come when crypto markets will recover and go up. The next bull trend is supposed to start in 2023, by some experts. So now is the best time to think about buying worthy crypto assets as long as their prices are low and hold them long-term. You can buy and trade digital coins using the WhiteBIT platform – the official exchange with European jurisdiction. The platform offers over 450 traded pairs and the opportunity to use fiat currencies. The educational resource WhiteBIT blog provides many interesting articles on crypto trading and manuals on using trading tools. Feel free to use the blog and exchange simultaneously to improve your skills in trading crypto.

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