Will Cryptocurrency Last? Check Its Latest Development (2023)

The cryptocurrency market grew rapidly towards the end of 2023. By next year, it is predicted to continue to rise despite the previous crisis. This, of course, will attract more investors. In fact, the crypto market is said to have a trading growth of over $1 billion. So, what’s the latest development in the crypto world? Will it last? Read further to find out.

Cryptocurrency Will Continue to Exist Despite Previous Banking Crisis

In the first half of 2023, cryptocurrency is still a profitable digital asset. The turmoil that occurred in the crypto market was largely influenced by the banking crisis that occurred in the United States. The price of Bitcoins (BTC) also exceeded $30,000 with 83% YtD (year-to-date), which was the highest price in the last few months. Then followed by Ethereum which experienced an increase of 60% with a price of $1,000.

It is estimated that crypto prices will rise ahead of the halving. Approaching the BTC halving which is predicted to occur in 2024, the potential for an increase is still very large. For this reason, the collapse of banks is a positive sentiment for crypto assets, especially BTC. However, this journey still involves up and down fluctuations.

Meanwhile, a high level of public distrust towards banks will benefit crypto assets as a place to store their assets. This will increase the accumulation and purchase of assets in the crypto market. Furthermore, investors will increase and continue to grow following technological developments.

In fact, cryptocurrency was originally a digital currency for transactions. Now, various kinds of crypto coins or tokens are being introduced. Therefore, the increasing development of the times and variations in the crypto world will create a new generation. A world where everything is digital.

Key Points in the Latest Cryptocurrency Predictions

A healthy fluctuation

Even though cryptocurrency is experiencing obstacles, crypto assets will continue to operate and survive. According to crypto investors, the fall has no effect. However, it is healthy in the sense that it can contribute to balancing the value of the digital currency itself.

Developments of regulations

Cryptocurrency actions by regulators can have a significant impact on market prices and prospects. The U.S regulations, the SEC (Securities and Exchange Commission) for instance, provide confidence to investors and encourage market growth. They put down a number of unregistered cryptocurrency companies such as COIN, Binance, and Kraken.

The meaning of recession

When it comes to recession, typically cryptocurrency will start to rise. However, when recession recovery efforts begin to occur, cryptocurrency will move down. Therefore, poor government policies lead to crypto being seen as a decentralized and a safe digital asset.

Therefore, from your own experience, do you think cryptocurrency is still profitable? Please share your personal successful experiences and the challenges you faced in the crypto world. You can inform us about even the smallest things here. Because there are still many who don’t understand about the world of cryptocurrency. Or else, let us know how we can help! So, leave your comments below to start a discussion!