Crypto Market News

Analyst Akash Girimath pointed out some predictions about the bitcoin price in 2023. According to him, there will be a final wave of capitulation caused by miners or because of the decline in the traditional financial sector.
Moreover, he believes that this drop will bring the bitcoin price down to a low of $9,500. In the long run, however, this small deviation does not matter. It's because technical and in-chain indicators are starting to become very optimistic, he says.
He also expects the pace of interest rate increases to slow further as inflation declines.
"The U.S. Federal Reserve may stimulate the economy by printing money. This development could attract more investors to borrow, triggering the start of another bullish rally in the stock and cryptocurrency markets," he said.
As for the war between Russia and Ukraine, he noted that the conflict should come to an end or truce. In this regard, the next step could be to change the policy on bitcoin mining to make mining more politically acceptable.
Also, according to the analyst, Brazil and other South American countries will implement cryptocurrency-friendly regulations and become safe harbors for the growth of the cryptocurrency industry.
And as the market gains momentum, it will attract more investors and capital, bringing the total capitalization of the cryptocurrency market to $6 trillion or more.
Finally, he predicts significant development of Ether, ZK-snark technology and Web3.