#TokenReserve Following recent concerns over the regional banking crisis in the United States, the cryptocurrency market appears to have calmed down in what could be a correction after two periods of sharp gains since the start of 2023.

The timely news of the US debt ceiling deal may have prevented another wave of Bitcoin price appreciation. However, the real party for the cryptocurrency market is yet to begin until later this year, according to Arthur Hayes, CEO of cryptocurrency exchange BitMEX.

The BitMEX CEO shared a detailed timeframe for when the cryptocurrency could peak in 2023. Earlier, Balaji Srinivasan, the former CEO of US-based cryptocurrency exchange Coinbase (NASDAQ:COIN), made sensational claims that Bitcoin could soon hit the $1 million mark due to the US dollar losing its status as the world’s reserve currency, only to later lose the bet.