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Crypto markets have witnessed massive corrections in the last two months. As of today, the global cryptocurrency market cap has shrunk to $949 billion, from the $3 trillion high it touched in November 2021. Weak global cues amid heightened inflation and interest rate hikes have led to a massive sell-off in crypto markets. Investors and traders are now wondering whether the crypto markets will bounce back again this year. Crypto industry experts have different views on this question.
While some experts believe that crypto markets will bounce back from the current crash in the next few months, others think that investor wariness is going to persist in the near-short term. The correlation between crypto and financial markets is growing. Cryptos have responded in tandem with the global financial markets that have also been hit due to weak global cues. As inflation is going to persist for around two years, experts say that an imminent economic recession may continue to make crypto markets fragile.