2022 has been anything but calm for the world of cryptocurrenciesThat is an undeniable fact. We have experienced the collapse of FTX or BlockFi or a year-end for Bitcoin with a 62% drop, compared to last year. If you want to see the predictions for 2023 regarding this cryptocurrency, we leave it linked.
However, Today we want to focus on the market in general and what 2023 will bring for it, according to experts.
And it is that, from the beginning, cryptocurrencies have been promoted as the future of finance. But now, with the great crisis that it is going through, the Bitcoin that is reeling after a sharp fall and, of course, the consequences of the incredible collapse of the cryptocurrency exchanges, many doubts arise.
Of course, not all of the crypto world is based on Bitcoin and it’s too rich to just focus on it. The big question now is: What will happen to cryptocurrencies in 2023?
A 2023 that is observed with optimism in the crypto world, according to experts
From what is predicted then the facts are anyone’s guess, but 2023 could be the year that the clashes around regulation finally reach their climax, something that has been going around a lot during 2022.
“Tough regulation of cryptocurrencies is going to be proposed and the community is going to wage an epic battle to fight the parties that threaten decentralization”says Ric Edelman, founder of the Digital Asset Council of Financial Professionals.
Regarding this point, It is expected that the more regulations we see in 2023, the more the use of crypto in everyday activities will accelerate. More and more companies will accept them, which will make more people use them and with new technologies, it will be easier to use them.
Simply put, mass adoption is expected. From Analytics Insight they ensure that more people they will feel comfortable with cryptocurrencies next year, despite bad news like FTX collapse, which will lead to strength going forward.
Technological advances are also seen as a great help in the future for prevent the loss of all cryptocurrency portfolios due to a computer failure delete the information. The other way it can help would be with hackers who could wipe all your possessions in no time.
A rather striking point that the experts assure for this new year is that the majority of meme coins will disappear or they will lose almost all their value. Last year it is true that Shiba Inu rose 44,540,000% and Squid, a coin that takes its name from the television series The Squid Game, rose more than 75,000% in less than a week, but to disappear shortly after .
Finally, highlight the great role that Web3 and the concept of decentralization will play. These two innovative things will further enhance the worth of cryptocurrencies. And it is that, it is expected that it will allow users trade much faster and without intermediaries such as banks or governments, which will positively affect the cryptocurrency market.
Some experts predict that currently we are experiencing a crypto decline, which has probably already bottomed out. These predictions are also made from the past performance of the cryptocurrency market, which suggests that in the next three months, the bear market will come to an end.
After a big down year in 2022, the cryptocurrency industry will change in 2023In addition, a great boost is expected for 2024. In other words, next year is a year of survival and great challenges.