Cryptowinter and Bitcoin: is warming possible?

02/05/2023

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According to the latest data, the value of bitcoin soared nearly 40 percent this month, reaching its best monthly performance since October 2021.

Joseph Edwards, an investment advisor at Enigma Securities, believes that "for the most part, people are more confident than they were a month ago.” Average weekly crypto trading volumes are up 11%, helping to improve the overall macro picture. All of this is leading some crypto investors to hope that the long cryptowinter may be approaching spring soon.

There are other signs of possible improvements in the near future. For example, long-term "hodlers" are still sticking with their coin, not contributing to its sale. In addition, bitcoin's share of the overall crypto market was about 41% this month, mimicking a similar jump in bitcoin in April 2019.

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