For daring investors at the intermediate or advanced level, this article aims to shed light on the current crypto climate and help you navigate the complexities to make informed decisions. However, there are still optimistic voices among crypto enthusiasts who believe in a possible recovery. Given these circumstances, some experts may predict a potential crash in the crypto market. Binance has vehemently denied these allegations, but the situation remains uncertain amid the regulatory challenges. At the same time, Binance, the world’s largest crypto exchange, is facing rumours of imminent collapse after being accused by the US Securities and Exchange Commission of mishandling customer funds and providing false information to investors. FTX experienced a spectacular collapse last November, with its founder facing severe charges. The decline of major crypto exchanges has also played a role in this tumultuous phase. Rising interest rates, persistent inflation, and mounting regulatory scrutiny threaten the potential for a sustained rally. While a recent surge in Bitcoin’s price due to BlackRock’s plans to launch a Bitcoin-backed fund provided a temporary boost, the crypto’s value is still far from its all-time high of $68,789, currently standing at just over $30,000. The market cap reached a record high of $3 trillion in November 2021 and has now dwindled to around $1.17 trillion. If 2022 was challenging for the crypto market, 2023 doesn’t offer much relief either.
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