Q1 2023 Market Analysis: Will Bitcoin Rise Against USD and Above $32,000? | HackerNoon

📆 4/30/2023 11:30 PM
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In this article, we’ll review developments in the crypto market and macro environment and provide predictions for the next quarter. - web3 bitcoin

- Bitcoin is entering into a new consolidation phase after a strong rebound in Q1. - The overall rise of the S&P 500 covered the sluggishness of the whole market. As S&P 500 companies release their Q1 earnings, EPS predictions will be reduced. The trend of narrowing profit margins might continue till year-end.

- International capital inflows into the US will further slow down and foreign purchases may even register next decreases as countries accelerate their de-dollarization process. - Amid the revolt against the US dollar, Bitcoin may return to above $32,000 thanks to catalysts including a slowdown in inflation, mitigation of energy issues, the ceasefire in the Russia-Ukraine war, and the reverse of the M2 supply trend.

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