In a new video update, analysts say they believe Bitcoin will ignite the next bull market later this year.
“We could see another Bitcoin bull market in late 2023, or even summer 2023 or beyond. It’s been a bad year for Bitcoin has been very beaten It’s not depressed all the time It’s mass accumulating Supply is thin on exchanges All the technical indicators you can see are , saying that’s the bottom and now people are educated they know what the halving is and they know to get ahead of it so in late 2023 believes there will be a Bitcoin bull market.”
Looking at Ethereum, analysts expect more entities, including institutions, to lock ETH once stake unlocking becomes possible in March, which could put buying pressure on major smart contract platforms. It says there is
“Several things are happening in March 2023. Stakers betting Ethereum who are currently receiving around 5% annual interest for committing ETH to secure the chain.
However, withdrawals are not enabled, but will be enabled in March 2023. Enabling beacon chain withdrawals gives stakers the confidence to stake more. I think about 13% of the total supply is at stake right now but in the meantime he will sell anyone who has waited 6 to 9 months or longer to get his ETH back . of selling pressure.
But I think there will be a lot more staking after the selling pressure. ETH becomes a growing asset, even from institutions that want to get a portion of that 5% for staking ETH. next bull run.
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GrandeDuc