The year 2023 promises a new scenario for those who already invest or intend to invest in cryptocurrencies. The market expectation is that the resumption of the global economy will positively interfere with the performance of digital currencies. In addition, announcements made by large companies have contributed to increasing optimism about what is to come.
In October, during the Cloud Next conference, the technology giant Google announced the partnership with the Coinbase platform to offer customers the alternative of payment with cryptocurrencies.
At first, the service should be made available to some Google Cloud users as early as 2023. Although it was not detailed which cryptocurrencies will be accepted, the news contributed to corroborate the positive expectations of the market for the next year.
Another relevant announcement for the segment, especially the Brazilian one, was made by Nubank. The digital bank disclosed that it will launch its own currency, Nucoin, in the first half of 2023. Initially, the asset will be made available to two thousand customers and will be part of a rewards program. The market’s expectation is that the project will help more people to learn about and start investing in cryptocurrencies.
Factors that led to a downturn in Bitcoin and other cryptocurrencies
Since it was created, Bitcoin has lived in cycles, both high and low, and this, for those who understand graphics, is possible to observe. So history always repeats itself. Bitcoin and other cryptocurrencies have faced both bearish and bullish periods. This has already been repeated in 2013, 2016 and 2017. The current moment is very similar to 2014 and 2018.
The market bet was that the year 2021 would close with Bitcoin at US$ 100,000, but this did not happen. It ended up at $46,000. And why did this happen?
Cryptocurrencies are classified as variable income. Therefore, they are impacted by the current scenario. In 2020, the Covid-19 pandemic came and, with it, the entire world economy was compromised, as businesses closed and people were left without work and without money.
In addition, there was also inflation. With inflation, people’s purchasing power decreases, and investments, in these periods, are often forgotten.
What to expect in 2023 for the crypto market?
It is difficult to predict something concrete for cryptocurrencies. What is possible to have our predictions for cryptocurrency trends in 2023? Many analysts are optimistic about a cryptocurrency bullish. Some investors believe that next year Bitcoin will hit $100,000.
Companies also play a key role in this cycle, as they increasingly invest in offering cryptocurrency payments. This movement shows that digital currencies have gained strength and can become one of the most reliable products in the financial market.
Those who invest in cryptocurrencies are one step ahead, as the future holds this technology for us. Some countries are even adopting cryptocurrencies. Governments are creating their own cryptocurrencies. Cry
Therefore, if you want to invest in cryptocurrencies, to buy low and sell high, or simply buy cryptocurrencies to save and earn in the long term, be sure to access the NovaDAX platform. At the brokerage, it is even possible to trade Bitcoin with zero fees!
The Material and information contained on this website are for general information purposes only, Investing in cryptocurrency is a high-risk activity subjective to market risks, and should be approached with caution. Cryptocurrencies are highly volatile and can experience significant fluctuations in price. Additionally, cryptocurrencies are not backed by any government or financial institution, and their value is based solely on market demand, which can be easily manipulated. Investors should thoroughly research any cryptocurrency they are considering investing in and should be prepared for the possibility of losing their entire investment. It is important to carefully evaluate one’s financial situation and risk tolerance before investing in cryptocurrency and to seek professional financial advice if necessary.
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