The post Will The Crypto Market Continue To Fall In 2023? appeared first on Coinpedia Fintech News
There is a lot of bad news incorporated into the cryptocurrency market. The largest and most liquid cryptocurrency, Bitcoin, dropped 64% in 2022 (see chart). The decline in cryptocurrency exchange rates declined for several reasons. Riskier assets came under pressure in 2022 as digital currencies, equities, and commodities declined. The U.S. benchmark technology Nasdaq dropped about 33% year to date. One asset that experienced positive returns in 2022 was the U.S. dollar, and the rise in the greenback was one of the reasons cryptocurrencies experienced negative returns. The dollar index, a basket of currencies versus the U.S. dollar, rose slightly more than 8% year to date in 2022.
As investors look forward to 2023, many of the same factors that eroded the value of cryptocurrencies will continue to impact cryptocurrencies initially in 2023. Central banks around the globe are expected to
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