There are all kinds of optimistic predicitons for the crypto market in 2023, and one of them is presented below. Check out the latest re[prts about what could trigger bullish moves in the crypto market in 2023.
New trigger could boost the crypto market in 2023
A popular crypto analyst says the crypto market could see a massive rally in 2023 depending on the actions of the US Federal Reserve.
In a new YouTube strategy session, the pseudonymous host of Coin Bureau said that a crypto bull rally is contingent on whether the Fed pulls back on rate hikes next year.
Guy says the Fed pausing interest rate hikes is one of the most important catalysts “that could end the bear market.”
As the online publication the Daily Hodl notes, he explained the fact that the Fed will probably pivot even though Powell said at the last Fed meeting on December 14 that they may need to raise the rate beyond 5% to tame inflation.
“The Fed raised rates this month by a half point after a series of other rate hikes this year, moving the economy toward a recession. The increase brought the rate into the range of 4.25% to 4.5%, the highest in about 15 years.”
He continued and explained the following:
“There’s no guarantee that the Fed will manage to raise interest rates all the way up to 5% or more. This is because the higher the interest rates go, the higher the likelihood that something in the financial system will break.”
Guy says a pivot “seems more likely than not,” which would end the bear market and trigger a bull run.
“If the Fed is forced to pivot because of a problem in the financial system, then crypto will rally like crazy.”
Stay tuned for more news from the crypto space and make sure to keep an eye on the market as well.