Cryptocurrency investors were on edge when 2022 rolled in. The price of the leading token Bitcoin (BTC 8.37%) was up 61%, and Ethereum (ETH 5.2%) had climbed 409% over the previous year. But the last massive surge in 2017 was followed by an ice bath in 2018, and the leading coins started to trend downward in November 2021. Was the crypto market headed for another sharp correction?

As it turns out, the mostly positive market momentum of 2021 was overwhelmed by bearish trends in the spring of 2022. The stock market dipped due to surging inflation, Russia's invasion of Ukraine, and other macroeconomic challenges. Cryptocurrencies followed suit, falling back much faster than the S&P 500 in this period.

The 2023 calendar may answer some important questions that were left unanswered in previous years, setting the course for cryptocurrencies and their investors for the long run. Here's what to expect.