In 2023, cryptocurrency markets will focus on regulation
Having ended its most turbulent year with the energy problem caused by the war between Russia and Ukraine in early 2022, and crises in individual markets, in 2023 cryptocurrency markets will focus on regulation.
To minimize the damage to the economy caused by the new type of coronavirus (Covid-19) epidemic, central banks have opened cash valves, and in parallel, inflows into crypto-currency markets have reached the highest levels with an increasing risk-aversion from 2020 to the end of 2021.
Bitcoin, which began trading 14 years ago and is known as the largest cryptocurrency, tested a historic high of $69,000 in November 2021, and Ethereum reached a historic peak of $4,865 in the same period.
While the opening of the cranes triggered inflation worldwide, by the end of 2021, when the US Federal Reserve (Fed) gave "hawks" signals, risk inclination began to decline in all markets, and demand for dollars began to rise worldwide.
As a result of supply chain disruption due to the war between Russia and Ukraine, which began in the first quarter of 2022, and a series of mutually imposed sanctions, production and energy costs increased and the perception of risk in the markets increased.
After the US and Europe excluded Russia from the SWIFT system, the question arose that Russia could circumvent economic sanctions with cryptocurrencies, and a significant part of the assistance to Ukraine was provided with cryptocurrencies, which had a positive impact on cryptocurrency markets, though limited.
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