What is Happening to the Crypto Market today, and is It a Good Time for Buying Cryptocurrency?

Investments in crypto assets have been very popular in recent years, for they have shown good results when many people have become millionaires. The crypto market now attracts more and more people willing to join this field and become owners of digital currencies. 

Buying crypto in the long term is one of the less risky options for investors who are not ready for intensive trading.

Crypto today is on its drop since spring 2022. Then the market collapsed, and all the crypto rates dropped significantly. That was the beginning of the bear market trend that lasts till today. However, the market is cyclic, and after every downtrend, an upward trend comes. What will happen next? Experts believe 2023 can become a new bull trend for the crypto market. So now is the best time to acquire popular digital coins at a low rate and hold them in the long run.

Crypto survival

What are Bear and Bull Trends?

Cryptocurrency live prices depend on the following factors:

  • The market trend
  • Investors’ sentiment 
  • Global economy, inflation
  • Demand and supply balance. 

Here are the market tendencies:

  • Bull tendency – optimistic investors’ mood and expectations, demand growth, crypto rates increase. 
  • Bear trend – pessimistic expectations, the drop in demand, and overall prices decline.

It is quite possible that in 2023 we will witness a new bull market. How will we understand that started? – Crypto rates will move up, demand for digital assets will grow, and new crypto projects will release and attract investment. During the bull trend, crypto rates can increase by 40%, which is just impossible in the traditional financial market. 

The fact is that many people pay attention to the crypto market during bull rallies only, which is wrong because, after every market skyrockets, a downward trend starts. So we recommend acting as smart investors and buying cryptocurrency when their crypto rates are low. Then hold coins and wait for the market trend to change. Hopefully, it will be in 2023.

Protect your financial assets

You can buy digital assets on the WhiteBIT crypto exchange. It is an official platform operating under European jurisdiction.