Bitcoin and Ethereum rally, end of the bear market?

In an exciting and positive turn of events for crypto markets in general, two of the largest cryptocurrencies are showing signs of recovery and growth. After facing a lot of pressure in the year 2022, due to the FTX crash and the endless crypto winter, most of the crypto markets generally found themselves in the red. This led to general investor sentiment fading.

However, with the start of 2023, there have been some significant price movements in the crypto markets that have led to crypto investors ready to invest. So what do the crypto markets look like in 2023? Also, is this rally a sign of strong markets ahead? Also, are there any specific cryptocurrencies that show promise when it comes to investing? Let’s find out.

What about Bitcoin and Ethereum?

Two of the largest cryptocurrencies soared more than 20% in the past week. This rally has led to crypto markets reaching a cumulative value of $1 trillion once again. It is also the first time since November of last year that the crypto market has been valued this high since the FTX crash. The value peaked at $1.15 trillion on Sunday, according to data from CoinGecko.

This is also the first time since 2013, Bitcoin has recorded a consistent positive price movement for 15 consecutive days. On the other hand, Ethereum will soon cross 100 million non-zero addresses given current data. It has posted a 20.7% gain for the week and is trading at $1557.91 at the time of writing.

What are the factors behind reality?

There are several factors that have led to the recent price rally of Ethereum, Bitcoin, and various other cryptocurrencies. One of the main factors that have led to this is definitely the price of Bitcoin, which hit a two-month high of $21,446 on Sunday and is trading at $21,046 as of this writing.

Another factor that can be credited to the rally is the moderation in inflation, which is causing investors to enter riskier investment territories. This was after the Federal Reserve revised its inflation predictions from 5.2% to 5% for December 2022. Investors are counting on lower inflation for more stable markets and sustainable returns.

Alternative cryptos for explosive returns in 2023

While Bitcoin and Ethereum are seeing an increase in value, thanks to the rally from the previous week, there are a few other cryptocurrencies that are showing promise. These are some of the promising crypto projects that focus on utility, value, and functionality, which may be a great bet for investors in 2023.

Meta Masters Guild (MEMAG)

Meta Masters Guild is a first mobile gaming platform that aims to integrate Web3 with high-quality mobile gaming goodness.

What is special about Meta Masters Guild is the fact that the project aims to make mobile gaming accessible to the masses. It will allow gamers to play high-end mobile games and also give them a chance to earn from them. It will form a decentralized gaming ecosystem that will make it easy for its users to earn rewards and contribute to the Meta Masters ecosystem.

All games in the Meta Masters ecosystem will use a single currency: MEMAG. MEMAG is the native currency of the Meta Masters Guild. These tokens will be linked to in-game rewards in each game, which will be distributed as ‘Gems’. Players can convert these ‘Gems’ into MEMAG, which can be cashed out or reinvested.

Meta Masters Guild has made it a goal to focus broadly on the quality of its games and reward players for their time, value, and feedback. Also, any item or currency that is owned by users really belongs to them. All of these are proprietary, verifiable, and tradable on the Ethereum blockchain. The crypto project has a well-planned roadmap ahead of it and is currently in Stage 1 of its Presale, which has already passed the $500k mark.

Fight (FGHT)

FightOut is another crypto project that shows great promise as we head into 2023.

FightOut is a Move To Earn fitness app and gym chain that focuses on gamifying the ever-changing and popular fitness lifestyle. FightOut users are rewarded for completing their workouts on time, completing challenges, earning badges, and growing the community. The app is currently in its Pre-Sale stage and has a full roadmap marked out after its Initial Coin Offering (ICO). As of writing, the pre-sale has already raised $3 million and ends on March 31, 2023.

There is also a soul-bound avatar for users in the FightOut ecosystem as they progress, which will develop as a result of their progress and effort and become available as NFTs to users.

REPS is the in-app currency, which is earned by users as a reward mechanism for healthy activity and can be redeemed at any time. Users can exchange it for special items in the Fight Out store, including training equipment, supplements, and more. The FightOut roadmap is quite dynamic and has some big events scheduled, including the opening of the Fight Out gym, the launch of the app, and the launch of the NFT Avatar.

Skull (RIA)

Calvaria: Duels of Eternity is another crypto game-based project that will be in the spotlight in 2023. The card game involves players competing against each other in tournaments using different cards representing different players, with each player having their own character. unique.

The game is a real paradise for gamers as it involves the players creating their unique strategies and tactics to beat their opponents which helps them earn in-game rewards and upgrades. Much like Meta Masters Guild, Calvaria players can actually own the resources they earn by participating in all of the game’s activities.

Its native token is $RIA, which is the main element of the economy of the entire game. It will also introduce a way to introduce gamers to the game’s mechanics and economy in the form of NFTs. At the time of writing, Calvaria is in Stage 5 of its Presale and has already sold more than 142 million RIA tokens.

Conclusion: Is the recent rally a positive sign?

The recent price rally shown by Ethereum and Bitcoin is certainly a welcome sign for crypto investors and the industry in general. After a long and dark crypto winter, this recent rally looks like the crypto markets could be heading towards something positive.

However, considering the volatile nature of the crypto markets, it might be too early to predict what the rest of 2023 will look like. Yes, the beginning of 2023 is showing some positive signs, what the rest of the year will look like remains to be seen.

Therefore, investors are always advised to look for projects that are value-oriented and have a strong roadmap. Carrying out due diligence before investing in any cryptocurrency can go a long way towards ensuring positive crypto returns.

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