. "How the Crypto Market is Bouncing Back Stronger Than Ever"

 

The cryptocurrency market is absorbing all the losses incurred in 2022 and the expected performance during the rest of this year

 The year 2023 started in a good and positive way for most of the cryptocurrencies. After enduring huge losses in the past year, most of the tokens have taken the path of a rally. However, the prices are still very low compared to the highs seen on the upside in 2021.

 So, what will the second half of 2023 look like, will it be a year of slow growth or will the cryptocurrency market be able to reach new highs and recover all the losses it faced in 2022?

 The circumstance in the advanced cash market

 The entire cryptocurrency market swings from one side to the other, but the market situation can be considered comfortable for some curves and in a limited range. After repercussions in 2022, confidence in such currencies decreased significantly and the market completely shifted to the downside range without any signs of slowing down. However, the year 2023 has given a good positive sign for major cryptocurrencies including BTC and Ethereum and the cryptocurrency market is gradually turning green due to the relaxed macroeconomic situation and low inflation.

In the event that we notice the ongoing volume in the computerized market, it stands consistently at $1.20 trillion as a complete market capitalization alongside the everyday volume of $70 billion. However, if we talk about the world’s largest FTX collapse, it is clear that BTC and ETH are topping the charts. Bitcoin is up about 80% this year and Ethereum is up about 65% so far this time of year.

The level of digital currencies in 2023

 Crypto experts believe that the current situation is comfortable, but the road to recovery is still very long, given that most currencies are still far behind their highs, for example, Bitcoin is still down 50% from its all-time high, which was touched in November 2021. The $69,000 level, likewise, Ethereum, which is now trading at $1,900 levels, touched an all-time high of $4,000, in 2021.

 However, the good news is that 2023 was able to absorb all the significant losses that the market incurred in 2022, and if we take note of the April numbers, BTC and ETH are up 17% and 46% respectively, which is quite an achievement. Similarly, Cardano's ADA coin has also posted gains of more than 50% in the first four months of this year.

 The implications of raising the interest rate on digital currencies in America

 In March, news of the collapse of Silicon Valley SVB and other major US banks raised concerns about the stability of the traditional banking system, however, the fallout in the banking sector shifted investor sentiment dramatically towards decentralized finance that pushed BTC to touch a high of 30,000. Dollars, since June 2022.

 However, the cryptocurrency market has so far responded positively to the collapse of the SVB and the hope of a temporary pause in the cycle of raising interest rates in the United States amid tightening credit conditions and lending standards, but since the cryptocurrency market is not isolated from the rest of the financial assets, its rise will be slow and cautious. Like any other.