Investors and traders are still looking for significant signs that the market is exiting the bear cycle and entering a bull market, even though cryptocurrency market prices have shown significant gains over the past week. Blockchain analytics firm Santiment has tweeted key metrics related to the top cryptocurrency market participants that have ushered in an impending bull market.
2023 Will Be A Slow Year For Crypto Accumulation
Coin Bureau’s famous Youtuber and analyst paints his bullish predictions for cryptocurrencies. He claims that we will see cryptocurrencies emerge from the current bear cycle. Guy Turner expects this recovery period to start in late July to early September or early October to early December.
However, Guy explains that the currency will hit local lows first before the cryptocurrency begins its recovery journey. He predicts the cryptocurrency will hit a new local low somewhere by April.
Guy argues that 2023 will be known as the year of “slow accumulation” and won’t be a spectacularly interesting year for the market. Therefore, he warns investors and traders to act cautiously before making trade-related decisions.