cryptocurrency price rally
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The cryptocurrency market has begun the year on a positive note, with many major cryptocurrency prices rallying. Bitcoin has seen a steady climb since the start of the year and is currently trading at $17,746, while Ethereum has posted gains of over 10% in the past week and is currently trading at around $1,376. Other major cryptocurrencies such as Cardano and Dogecoin have also posted significant gains in the past week.

In recent days, the crypto market’s total market capitalization has struggled to break through the key resistance level of $821 billion, making three unsuccessful attempts. However, according to technical analysis, the market continues to exhibit bullish sentiment in the short- to medium-term, trading above its 20-day and 50-day Exponential Moving Averages (EMAs).

Bullish momentum may be sustained if the market can break convincingly through its immediate resistance of $821 billion before reaching the psychological level of $850 billion.

Whatever happens next, the recent upward trend in the cryptocurrency market has been driven by multiple factors, including macroeconomic news, market technicals, and growing interest and adoption of blockchain and Web3 technologies by various industries. In this article, we’ll be exploring these reasons in greater detail and examining what they could mean for the crypto market in the coming months.

1. Macroeconomic news driving cryptocurrency price rally

One of the main drivers behind the recent market rally is macroeconomic news, specifically lower-than-expected inflation readings for December. This has led investors to hope that central banks may shift away from their current policy of high-interest rates sooner than anticipated.

Lower interest rates mean that people are less likely to save money in banks and it encourages them to spend more. This leads to an increase in the economy’s activity, which is an indication that the economy is improving, driving investors to take position in the market, which in turn drives the rally.

However, many experts believe that a meaningful rebound in the crypto market will only occur once the Federal Reserve pivots away from its current interest rate hike policy and the trend towards low inflation is sustained. The trajectory of the crypto market in 2023 will depend on the actions of the Federal Reserve and the trajectory of inflation, which will become more clear as we head further into 2023.

2. Positive feedback from recent market performance

The cryptocurrency market hit the ground running in 2023, shrugging off the tragedies of the previous year with some tokens posting double digit gains in the past week. It may be that investors were simply ready to see cryptocurrency prices rallying after a bad year in 2022.

The overall market capitalization of cryptocurrencies increased by nearly 1% in the last 24 hours, according to Tradingview, reaching $837 billion and possibly breaking above a key resistance at $821 billion.

As all traders know, momentum is an important factor in any market, and the current positive sentiment could be partially a result of previous market gains as more investors became convinced that the market’s bottom could be in after continued consolidation in a tight range over weeks leading up to 2023. This could lead to further gains if sustained.

3. Fundamental utility of blockchain and Web3 technologies

Another reason for the current rally in the cryptocurrency market could be the growing use cases and real-world applications of blockchain and Web3 technologies. Decentralized finance (DeFi) and non-fungible tokens (NFTs) are some of the most prominent examples of this.

DeFi, which allows for financial services such as lending, borrowing, and trading without the need for a centralized intermediary, has grown in popularity and adoption, providing new opportunities for financial and economic autonomy even in the bear market. NFTs, which are unique digital assets that cannot be replicated or divided, have gained traction in the art and collectibles market, but also in gaming, and other sectors too, providing new ways to buy, sell and trade digital goods.

Both of these use cases continue to attract users despite what is happening in the wider market, albiet at a decreased rate compared to during the market’s all time high.

Either way, these use cases and technologies address many of the ongoing concerns with centralized systems, such as lack of transparency, security and accessibility.

Their increasing adoption by various industries and individuals is driving the demand for cryptocurrency assets as a means to access these decentralized systems, and the utility of them doesn’t depend on how markets are doing. The progress of projects in these areas and their ability to improve on their offerings provide a solid foundation for long-term growth and value of crypto assets.

Prepare for the Bull Market as Cryptocurrency Prices Rally

The current bear market in the cryptocurrency industry presents an opportunity for investors looking to get in on the action. Downturns such as this can provide a chance to invest in undervalued projects with the potential to be big winners in the next bull market. One way to do this is by participating in presale events, also known as pre-ICO or seed rounds. These events allow investors to buy tokens at a discounted price before they hit the public markets and often come with additional rewards, bonuses, and incentives.

It’s crucial for investors to conduct due diligence and only invest in projects with solid fundamentals. This includes evaluating the team behind the project, existing investor interest, and real-world use cases that solve actual problems. Tokens that align with these criteria include MEMAG, FGHT, and CCHG.

MEMAGic in Gaming: Meta Masters Guild’s Next-Gen Gaming Ecosystem

The Meta Masters Guild (MMG) is an upcoming gaming guild and ecosystem. The project will focus on building a decentralized gaming community that rewards players for their contributions using the MEMAG cryptocurrency. Players will have true ownership and control over their in-game assets.

The MMG ecosystem is designed to incentivize players to invest both their time and money by ensuring they are compensated fairly for their contributions. The company prioritizes fun gameplay, sustainability, and community engagement.

The open multi-game-spanning economy will allow players to trade all their in-game items and currency to one another as they please while using “Gems” rewards from games to trade for money or in-game assets. The first game that will be launched is Meta Kart Racers, a PVP or solo racing game built for mobile devices.

The MEMAG token presale has recently launched and is attracting attention from investors.

Visit Meta Masters Guild Now

FGHT to the Top: Fight Out’s Innovative Fitness Tracking App

Fight Out is a fitness tracking app set to launch in 2023 that seeks to dramatically evolve the fitness tracking industry.

Fight Out aims to provide users with a personalized experience, including tailored workout plans that are specific to individual needs. Users will be able to earn REP tokens through the app that can be used for discounts on subscriptions, sessions, apparel, and nutritional supplements.

The company is also creating physical gyms with smart technology such as “mirrors” that will show member profiles, and sensors providing real-time feedback on exercises and routines.

The project also features an ambassador program that teams up with popular athletes to help market the project and provide exclusive content such as masterclass workouts and training camps. Some of the current ambassadors include Amanda Ribas and Taila Santos from the UFC, as well as Savannah Marshall, the former WBO middleweight champion.

Investors have already been attracted to Fight Out’s $FGHT token en mass, likely due to the promising concept and impressive presale bonuses of up to 50%. The presale has raised $2.86 million already. With partners like LBank Labs, Cryptonews.com, Transak, and BlockMedia Labs offering financial and operational assistance the project has a high chance of success.

Visit FightOut Now

C+Charge: Charging Up the EV Industry

C+Charge is a peer-to-peer payment system and rewards app for EV charging that aims to make charging EVs more efficient and cost-effective. The platform is designed to use blockchain technology and a connected app to streamline the charging process for EV drivers. With the app, drivers can bypass long lines and high fees associated with traditional charging methods, while also being rewarded for their eco-friendly behavior.

The platform enables EV owners to predict and monitor their charging costs and also provides landlords and businesses with the ability to track energy usage and costs specific to EV charging so they can feel confident in installing chargers without increasing electricity costs for non-EV-drivers.

Now is a good time to take advantage of C+Charge’s introductory token price, at only $0.013 USDT per token. The price will be increasing through three more stages over time up until its maximum rate of $0.02350 USDT.

Visit C+Charge Now

Promising Projects with Real Utility

As we head further into 2023, the actions of the Federal Reserve and inflation trajectory will play a key role in determining the market’s trajectory. However, what is clear is that there is an increasing real world utility and use cases for cryptocurrencies and blockchain technology, one factor that is causing cryptocurrency prices to rally.

Investors should proceed with caution, as volatility and the uncertainty of inflation and central bank’s actions can be a risk, but at the same time, the actual use cases and adoption of blockchain technology provides long-term fundamentals for growth and value. The market rally is a reminder of the potential of the cryptocurrency market and how it is evolving from a speculative asset to a new form of digital asset with a real-world use.

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C+Charge - Next 10x Crypto with Real Life Utility

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