Will cryptocurrency and non-fungible token (NFT) markets ever recover? It’s a valid question after everything that’s happened in the past year. Prices have plummeted, scams have run rampant, and the overall market has taken a nosedive.
By the end of November 2022, the market had decreased by 70 % from its previous peak, which was in 2021. The FTX crash even pushed the market dip lower, which was a big blow to many in the industry.
The cryptocurrency and NFT markets show potential for recovery in 2023.
More people, including governments and financial institutions, are beginning to understand cryptocurrencies, blockchain technology, and its potential applications
How crypto and NFT market work
Cryptocurrencies and Non-Fungible Tokens (NFTs) are still in their early developmental stages. Crypto is currently used as a way to transfer value, and NFTs are used to represent unique digital assets. Crypto and NFTs provide a more secure and efficient way to transfer value and assets.
5 Reasons the crypto and NFT market will recover in 2023
Here are some reasons why crypto and the NFT market will reclaim their glory in 2023.
2. Bitcoin will be stronger.
3. Web3 will become a big thing.

4. Brands will move from cool NFTs towards loyalty programs
5. Growing crypto and blockchain use

Final thoughts
So, keep a close eye on the market, and don’t miss the boat when the recovery finally happens.