Crypto Market Close to Bottoming Out: Crypto Holiday Special Gives Insight into 2023 Outlook

2. January 2023

• Bitcoinist launched a Crypto Holiday Special to look into the crypto industry in the spirit of Charles Dicken’s classic, “A Christmas Carol”
• We spoke with institutions to understand their perception of 2022 and their outlook for the coming months
• Material Indicators, a market data and analytics firm, stated that sentiment-wise, the crypto market is close to bottoming out

The crypto industry is always changing, with highs and lows being experienced throughout the years. This year, with 2022 coming to an end, Bitcoinist decided to launch a Crypto Holiday Special to provide some perspective on the crypto industry. To gain a better understanding of the highs and lows of this year, multiple guests were interviewed.

Inspired by Charles Dicken’s classic, “A Christmas Carol,” the Crypto Holiday Special looks into crypto from different angles, examining its possible trajectory for 2023 and finding common ground amongst the different views of an industry that may support the future of finances.

The panelists discussed the most significant difference for the crypto market today compared to Christmas 2021, beyond the price of Bitcoin, Ethereum, and others. Material Indicators, a market data, and analytics firm dedicated to building trading tools for the nascent sector, stated that sentiment-wise, the crypto market is close to bottoming out.

Material Indicators and their team of analysts gauge market sentiment and liquidity, and try to read between the lines of what big players are doing to provide a clear view, absent of noise, about its conditions and possible direction. The team also mentioned that while they have yet to see tradfi (Traditional Finances) price in earnings contraction (~Q1’23) for the last leg down, they are already close to bottoming sentiment-wise.

With this Crypto Holiday Special, it’s hoped that more insight will be provided into the crypto industry, giving a better understanding of the highs and lows of this year, and providing guidance into what the future may hold.

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