Various events when entering the first quarter of 2023 made the crypto world more crowded with users and gave more exposure to the crypto ecosystem including Bitcoin.
The beginning of 2023 is also a positive trend for Bitcoin by increasing market capitalization and Bitcoin price. At the end of March, Bitcoin also leveled off at $29k and this is the highest price it has reached in the last few months.
JANUARY 2023
1. Bitcoin price recovers to $20,000
In Early 2023 Bitcoin price was able to recover and stay above the price of $20,000, which is a good trend for Bitcoin. After the FTX collapse that made crypto plummet will Bicoin, but in the early months of 2023 the effects of the FTX disaster disappeared and now Bitcoin remains strong above the price of $20,000.
https://www.analyticsinsight.net/bitcoin-price-prediction-why-btc-will-rally-to-20000-in-2023/
2. Lender Genenis Announces Bankruptcy
Lender Genenis as a crypto lending company announced that the company was bankrupt as a result of the FTX disaster with a total loss of $175 million locked in FTX. and Lender Genenis owed about $3.5 billion but failed to pay it off.
https://www.bbc.com/news/technology-64343377
3. BONK Token Goes hype
In the first week of January 2023 the BONK Meme Token went viral and was able to experience a 3,300% increase which is incredible. It was first listed on the Huobi Exchange which is a meme Dog coin on the Solana network. BONK became the savior of the Solana ecosystem, after the effects of FTX that made Solana slump.
https://u.today/solana-meme-coin-sensation-bonk-down-68-from-ath-is-hype-over
4. Bitcoin Ordinal
Initially, I did not know at all what Bitcoin Ordinal was. But after reading some recent articles. Bitcoin Ordinal is an NFT on the first Bitcoin network launched on January 21, 2023. Bitcoin Ordinal reaps the pros and cons, Bitcoin Ordnial contributes to the increase in bitcoin transactions to break through millions of trillions in the first quarter of 2023.
https://cointelegraph.com/explained/what-are-bitcoin-ordinals
5. Artificial Intelligence (AI) in Crypto
It seems that the AI hype in crypto is very strong after ChatGPT became popular. It had a lot of positive impact on the crypto market as many projects started to be AI-based. The price of AI tokens in the first quarter of 2023 began to increase quite significantly up to 700% such as the surge in SingularityNET (AGIX), Fetch AI (FET), Vetrospace AI (VXV), and Numerai (NMR) tokens.
AI is also useful for trading systems that will make it easier for anyone to trade.
https://cointelegraph.com/explained/what-are-artificial-intelligence-ai-crypto-coins-and-how-do-they-work
FEBRUARY 2023
1. SEC vs Paxos Conflict
The Security Exchange Commission (SEC) filed a lawsuit against Paxos alleging that the BUSD stablecoin was not registered with the securities. this incident made BUSD Operations frozen and of course had an impact on the price of BUSD. and the good impact is that USDT stablecoins have soared with a surge in USDT market capitalization reaching $ 80 billion.
https://www.theblock.co/post/211214/sec-action-against-paxos-paints-regulatory-target-on-stablecoins
2. BLUR NFT Airdrop
This is one Airdrop that provides a lot of incentives for its users. An airdrop of 300 million tokens was distributed to early adopters and the BlurNFT community. This Airdrop had beaten the trading volume of its rival Opensea.
https://decrypt.co/121887/blur-to-airdrop-300m-in-extra-tokens-to-loyal-nft-traders
3. China's Crypto Tokens Surge
Several Chinese tokens such as Neo (NEO), Alchemy Pay (ACH), Filecoin (FIL), Qtum (QTUM), and VeChain (VET) experienced a surge of thousands of percent due to the efforts of US regulators to tighten crypto rules, so crypto users began to switch to Chinese crypto. This has been quite a remarkable bull run for Chinese crypto.
https://uk.finance.yahoo.com/news/crypto-prices-surge-china-rate-rise-halt-103914412.html
MARCH 2023
1. US Bank Crisis
Central banks such as Silvergate, Silicon Valley and Signature closed their operations due to the crisis. Silvergate shut down due to the FTX collapse which cost them $1 billion and forced them to sell their assets below market price.
During the US Bank Crisis, the price of bitcoin and top cryptos rebounded, with bitcoin rising about +24.8% in just 3 days. The US Bank Crisis made the crypto market go up even more.
https://www.bbc.com/news/business-64951630
2. Bitcoin price above $29,000
In the first quarter of 2023, there were many positive trends in Bitcoin. The trades made in March made Bitcoin reach the highest price in the $29,000 price area and this has been the highest price for the past few months.
https://cointelegraph.com/news/bitcoin-price-briefly-hits-29k-despite-regulatory-crackdowns
3. Arbitrum Airdrop
We all also know about the Arbitrum Airdrop that went viral. around 600 thousand arbitrum wallet addresses were reported to receive token incentives from interactions made in the Arbitrum ecosystem.
This is quite a big incentive and the ARB token price was able to reach $10 at the beginning of the listing and is currently stable above the price of $1.2. This Arbitrum airdrop also made the arbitrum network have the highest transactions at that time.
https://cointelegraph.com/news/arbitrum-airdrop-hype-grips-defi-world-finance-redefined
4. Do Kwon Was Arrested
This is the good news in March. Do Kwon was arrested at Podgorica Airport, Montenegro on Thursday, March 23, 2023. It was reported that Do Kwon was about to take a flight to Dubai with fake documents from Costa Rica. Do Kwon's identity was later confirmed by South Korean authorities.
https://www.bbc.com/news/technology-65058533
So those are some of the events that happened in the first quarter of 2023. If there are any events that I missed, please let me know.
Topic: Reviewing Important Events Crypto Market in the First Quarter 2023 (Read 36 times)
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