Crypto suffered through a number of interesting events this autumn. First, it entered into a major crypto rally in the middle of December, which saw a massive increase in value for many cryptocurrencies, especially Bitcoin. Then, the market as a whole fell in value following the FTX scandal.
And even after that, BTC surprised many by starting to recover right away. It’s now recovered about a third of what was lost before the fall. It’s still far behind the number it had at the very beginning of the year. Even so, now is a good time to start recovering those numbers, as well.
This has been several eventful weeks, and there are several scenarios as to what can happen in the remaining November and then in December.
Before the great fall, crypto has been climbing steadily. What’s more, it didn’t lose much of its drive even after FTX. It shows by the way the currencies recovered. BTC jumped up over $2,000 the day after crashing. Although the recent few years saw more stagnation than actual growth, the value is considered stable.
Many experts on the Forex market and crypto think that the steam hasn’t run out yet, that the interest in crypto has finally been rekindled and that there are plenty of crypto projects to support the growing market. One of these driving factors is the interest in crypto from the side of governments and various jurisdictions.
This interest is only growing, and it can be one of the factors to give crypto more value and a driving force.
It might also be that the crypto will recover from the recent shock and just continue to grow slowly and steadily. This seems to be the most likely outcome, as the renewed interest following the recent rally couldn’t have vanished because of the misstep of just one gear in the crypto market.
The question is still when or how fast the cryptocurrencies will start to grow when it all blows over. There’s no telling how long it takes crypto to recover, as it took over 4 months for it to go from stagnation to growth again. Regardless, it might be a good idea to invest long-term again.
There are several good exchanges that can still be trusted, although choosing your ideal company is still a challenge. It’s mildly difficult considering everything that’s been going on lately. But a good broker can actually let you know what’s going on in the market by putting yourself in said market. Take a look on broker comparison on TopBrokers.
It’s also possible that the coins will stop growing again but also won’t lose their value that much like it was from June to September. Although it’s unlikely that Bitcoin will start decreasing in value, the stagnation is also bad. From an idealistic point of view, it means the market isn’t getting the necessary development. From a practical point of view, it means people don’t get money from their investments.
It’s actually incredibly likely that it’s going to be the state of the market for the next month, or even more. Unless you see several consecutive days when Bitcoin rises by more than 0.5%, it’s going to continue to stagnate.