It is undeniable that 2022 has been one of the worst years in the history of cryptocurrencies, especially after a brilliant 2021 in which prices reached all-time highs. Since January, the price of cryptocurrencies has fallen to levels not seen in years. Will this trend continue in 2023 or can we expect a resurgence? We tell you about it in today’s video:

First of all, it must be made clear that trying to predict the movements of a market as highly volatile as that of cryptocurrencies is impossible. Even so, economic developments and the global situation allow us to get a general idea of ​​what is the most logical thing to expect.

It looks like 2023 will be a tough year for cryptocurrencies to say the least, but if they survive, new all-time highs may be reached in the medium term.

But before we venture into the possible scenarios of 2023, remember another critical period for cryptocurrencies: the years 2017 and 2018. At the end of 2017, Bitcoin, after a very rapid and meteoric rise, reached a price close to $20,000 per unit, something completely unprecedented. But a few months later, in February, Bitcoin was priced at $3,000.

This rise and fall was not exclusive to Bitcoin, but spread to the entire market, which lost close to 90% of its value in a very short period of time after reaching all-time highs.

The parallels with the current situation are more than evident. Following this model, we can expect a 2023 in which cryptocurrencies continue to drag, with a sideways movement at best. Especially taking into account that the rest of the markets are very affected and that the cryptos have shown that their well-being depends on the good health of other areas of the economy.

However, it cannot be ruled out that, in the medium term, cryptos will recover their splendor (as long as more famous exchanges do not go under) and the cycle of all-time highs-fall-new all-time highs repeats itself, which would mean that 2023 is a good time to select where to buy cryptocurrencies before new spikes. Although, on the other hand, it is worth keeping in mind that past behavior does not ensure future behavior.