Coinbase: The Fall in the Crypto Market Will Last About a Year

Many Bitcoin advocates, such as Tim Draper, believe that after the crash of FTX, the crypto market will quickly recover. According to him, BTC will resume expansion in the very near future.

However, the analysts of US-based crypto trading platform Coinbase, predict the dominance of bearish sentiment in the crypto sphere, at least until the end of 2023.

According to their report, FTX’s bankruptcy has scared away many investors. As a result, the industry faced a massive outflow of institutional and retail capital.

The market has entered a state of “crypto winter”, which may drag on for the next 12 months. Capital prefers to either move into stablecoins backed by real assets, or leave the cryptosphere altogether.