As of this time, we're in an uncertain situation. Despite XRP and Grayscale win their respective lawsuits against the SEC, it's just a temporary gain and it will gradually lose momentum that leads for the market to go back to square one.
Before the Grayscale announcement, BTC is sitting around $25.9k and was pumping to $28k for a few days. However because of the postponement of other ones applying for Bitcoin Spot ETFs, the market was manipulated and goes back once again to $25.9k.
It would be a gain for those who have positioned themselves correctly whether long or short. There's nothing that could really hype up the crypto market just like what we have experienced for most of 2021.
As we are preparing for the BTC halving this coming 2024, there are no promises or guarantees whatsoever if it would be a catalyst for a future bull run of the market once again. Time will tell.
I think we should blame central banks for this (particularly the FED). Rising interest rates, makes risky assets a less-attractive option to mainstream investors. Until inflation is put under control, don't expect market prices to rise anytime soon. At least, the crypto market is performing better than the stocks market. By far, BTC has been classified as the "best-performing asset of 2023". Once BTC goes up, altcoins will follow.
I'd suggest you buy prominent coins while they're still cheap. We might never be able to see such low prices again after the market turns bullish. Who knows how the crypto market will look like in the future? Just my thoughts
