Are Cryptocurrencies Ready for a New Bull Run?
After months of correction, I think cryptocurrencies may enter a new period of upse. Can investors expect positive developments in the market in the coming period?
Technical Analysis and Market Cooling
Cryptocurrencies have experienced sufficient corrections after the rise from the end of the year to the beginning of 2023. The crypto market signals from the âearly bullâ correction in terms of technical analysis.
Investors should not panic because the road may still be choppy, but itâs still not too late to enter the market. Even those waiting on the sidelines in the market can still take advantage of opportunities.
More than three times the number of active addresses has increased in the last year is considered as an indicator of the expansion of the user base. This could be a sign that the crypto ecosystem is being built on more solid foundations.
The concrete and valuable conclusions for the coming period can be listed as follows:
Quality crypto assets have established higher low levels compared to previous periods. Global central banks are expected to provide liquidity to the markets. Infrastructure developments and user growth are supportive of the market. While market sentiment becomes neutral, leveraged positions are decreasing.
Given the current dynamics of the crypto market, it seems that an uptrend supported by both technical and fundamental factors is possible. However, it should be remembered that the market is always open to surprises and price movements can go in unexpected directions.
