Crypto Market 2023 Outlook: Here are the Key Dates and Events to Watch
The post Crypto Market 2023 Outlook: Here are the Key Dates and Events to Watch appeared first on Coinpedia Fintech News
As the world ushered in the 23rd year of the 21st century, the cryptocurrency market celebrated the fourteenth birthday of Bitcoin (BTC). However, the bleeding recorded in 2022 has increased the fear of holding onto digital assets. Furthermore, over $2.2 trillion has been wiped out of a decade-old market in less than twelve months. Nonetheless, market strategists are optimistic the crypto market will stabilize in 2023 with some calling for a mini-bull market.
While the crypto market is largely dependent on speculative aspects, analysts unanimously agree macroeconomic aspects are to be respected this year in the digital economy. Mind you, Bitcoin price and some top altcoins like Ethereum have shown a high correlation with the traditional stock market.
Additionally, the cryptocurrency market has significantly been regulated around the world following the Terra Luna and FTX implosion.
At the top list, the Ethereum community is eagerly waiting for the network update to enable withdrawals of staked Ethers.
“Withdrawals are as good as done,” Marius Van Der Wijden, a Software Developer at the Ethereum Foundation, noted. “All that is left to do is to test the code that enables withdrawals, which should be mostly done by February/March” Van Der Wijden added.
Also, cryptocurrency traders will be watching out for Federal Reserve (Fed) meetings, which are regarded as high-impact news. For instance, the FOMC meeting minutes are 8 times per year with the next release expected on February 22, 2023.
Notably, the FOMC meeting minutes are a detailed record of the most recent meeting, which provides in-depth insights into the economic and financial conditions that influenced the committee’s vote on where to set interest rates.
Key Events to Watch out for in Crypto Space
Following the high volatility recorded in 2022, the crypto community understands that regulations will play a crucial role forward. In 2023, all attention is on the Ripple vs SEC lawsuit, which is anticipated to end after two years of court proceedings. With the loss of the LBRY case to the SEC, crypto firms have joined hands to support Ripple in the case. Furthermore, twelve crypto firms including Coinbase Global Inc. have joined the Ripple case via formal amici briefs.
The ruling on Ripple vs SEC lawsuit is expected to be a case example for most decentralized financial platforms (DeFi) like ERC20 tokens.
The FTX case ruling is also highly anticipated as investors wait to get refunded their money. After SBF pleaded not guilty in a United States court of law, the next hearing is expected at the end of this year.
Filed under: Bitcoin - @ January 5, 2023 2:09 am