Many members of the crypto community are waiting for the crypto market to return to its path and what it did at the end of 2017 and the beginning of 2018 with the historical rise and rise of Bitcoin and other alternative digital currencies.

Bitcoin has not rebounded to the $20,000 level since it first achieved it, as well as Ethereum and other digital currencies.

Cryptocurrencies have largely stabilized in the past three months, which is what the graphs show for the performance of currency prices, which is what pointed out Cryptocurrency Analyst Josh Olswiss sees it in the chart below:

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Max Bronstein of Coinbase agrees about the stability and low volatility that Josh was referring to.

Max believes that the crypto market is in a downturn and is expected to boom and reach record numbers similar to what it achieved in 2017.

Max denotes three clear main indicators that we will address in the following:

• Ethereum Transactions:

The number of Ethereum daily transactions is at a multi-year high, exceeding 1,000,000 daily transactions as decentralized finance gains more adoption and support.

A lot of crypto users are turning to DeFi as trading is growing exponentially on Uniswap, Synthetix and 1Inch.

Ethereum transactions are on the way to a new record

• High number of bitcoin addresses:

The number of bitcoin addresses and holders of more than one coin reached an all-time high of over 822,500, and at the beginning of the year this figure was estimated at 782,000.

• Monetary policies to face the economic crisis:

The current macroeconomic environment strongly favors the growth of Bitcoin, Ethereum and other digital currencies.

Read:Bitfinex closed for maintenance after the bitcoin price dropped and approached $10,000

Where there is a money printing procedure that may indirectly contribute to increasing the value of digital currencies at the expense of the heaps of printed money that over time will become worthless.

Mr. Josh Olswiss said:

All of this sums up the biggest test of Bitcoin’s value proposition.

The lower bounds of debt-based monetary systems continue to shrink every day, and the need for a decentralized alternative is more imperative than ever.

The need for Wall Street:

With the cryptocurrency industry looking to be in a very positive fundamental place, it may be baffling to some why the bitcoin price is not trying to reach the level it hit earlier above $20,000.

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Despite the rise in adoption of the underlying technology, one analyst says Wall Street is needed to stimulate the growth of cryptocurrency prices to new heights.

One crypto analyst commented last week:

DeFi can raise a lot of money.

But the rising and rising price of Bitcoin and Ethereum needs real institutional fund flows to take prices to the next level.

Last week, investment firm Grayscale released its latest quarterly/semi-annual report, in which the company indicated that it had experienced the largest ever capital inflow, with leading Bitcoin and Ethereum products receiving the majority of investment allocations.

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