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Recession will hit markets as well as crypto market and we will see some more lower lows on charts. FED seem to slow down rate hike but they are still increasing rates.
The update on Ethereum to unlock staked ETH will cause sell preassure. As it is expected on March, we may see lower prices on ETH by March.
Most people are expecting a bull market in 2023 but this only will be a bear rally. If FED stops increasing rates through summer or autumn, markets may see a relief rally. But I wouldn’t call it a bull market. Even we see a rally in 2023, we will be in recession and rally will be short. In the end, markets may end up in same levels as now.