Hello dear readers, there is no doubt that in the first two weeks of 2023 cryptocurrencies are living a dream moment, everything points to the fact that the negative moments that gave lethal blows to the cryptocurrency market are behind us.
The truth is that today there is a positive scenario with strong rebounds in the price action of the main cryptocurrencies by market capitalization such as BTC and ETH, in fact, Bitcoin has already reconquered the psychological level of 20,000 dollars per share after rising 25% so far this year and is already at the time of writing at 20,700.68 dollars.
In the case of ETH, it is already up 27% so far in 2023 and best of all, the positive performance has spread to the rest of the cryptocurrency market which has increased in value by more than $1 trillion so far this year.
I must emphasize that the arguments in favor of a bullish BTC and ETH point to the FED, this provided that an easing of rates and greater liquidity in the market would allow investors not to focus on safer and more defensive assets and to bet more heavily on others such as technology or cryptoassets.
This easing by the Federal Reserve is a possibility that has gained momentum in the last month thanks to statements to that effect by several of its members and the latest inflation data, which have shown a significant easing in the rise of prices.
SOURCES CONSULTED
Eleconomista End of the 'cryptowinter' or dead cat bounce? Bitcoin recaptures 20,000 and sparks discord on Wall Street. Link
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