We have been witnessing massive changes in the cryptocurrency market over the past decade. While the year 2022 is coming to an end, crypto traders around the world are experiencing their worst nightmares with FTX collapses and a decline in the crypto market. The crypto world is too rich with different cryptocurrencies and some of them can be a much better choice than Bitcoin. In other words, some of them are already achieving fantastic results and showing fantastic chances for an extremely large increase in their value as early as 2023. However, if we take a look at the crypto predictions for 2023, we could say the market will recover and that now is probably the best time to invest. The big question is: What happens next for cryptocurrencies in 2023? Will regulation play a more significant role? Which type of cryptocurrency will be the best bet this coming year? What follows are the top 10 predictions for the future of crypto in 2023.
The exact outcome is anyone's guess, but 2023 could be the year where the clashes over regulation finally reach their climax. "There's going to be harsh crypto regulation proposed and an epic battle by the community to fight the parts of it that threaten decentralization," says Laura Shin, host of the "Unchained" podcast.
Crypto prediction: According to The Ascent, Ric Edelman, founder of the Digital Assets Council of Financial Professionals, predicts that more than 500 million people worldwide will own Bitcoin by the end of 2023. CoinTelegraph, BlockFi co-founder Flori Marquez agrees, crediting regulatory clarity and improved understanding of the industry for helping drive greater adoption. It is one of the top 10 cryptocurrency predictions that investors should follow in 2023.
"The sustained high-risk appetite in NFT-funding in 2022 is a strong indicator that it will be one of the first sectors to recover next year," says Burke. "Throughout the past year, we were already beginning to see major NFT investments from major Web2 brands [Starbucks and Disney] and across Web3. This shows no sign of stopping in 2023. Brands will continue to flock to NFTs."
Some experts predict that we're currently experiencing a crypto decline, which will probably hit its bottom by the end of 2022. These predictions are also made by the past performance of the crypto market, which suggests that in the next three months, the bear market will come to an end. It is one of the top 10 cryptocurrency predictions that investors should follow in 2023.
At the same time, the long-term outlook for the industry is solid thanks to the fact that mass adoption is likely to continue in 2023. More people will get comfortable with crypto next year, despite bad news such as the FTX collapse, leading to solid outlooks in the future.
After a big down year in 2022, the crypto industry will regroup in 2023, with those still standing ready for a big push heading into 2024. In other words, next year is a year of continued survival, with a look toward a return to huge gains in the years ahead.
Ether outperformed Bitcoin in 2021, gaining 418 percent compared to 66 percent for Bitcoin. Analysts believe either will continue to do well because of the surge in NFT sales volumes. Most of these tokens still run on the ethereum blockchain.
In the wake of the FTX collapse, a project like Dash 2 Trade has never been more needed. This crypto analytics, bot and insights platform is making crypto trading easier, allowing investors to make smarter decisions. The platform provides proprietary scores for crypto presale projects, which helps traders identify new projects that are worth investing in, and those that are worth passing on. It's a powerful platform that's been making a lot of waves already.
Last year, a Dogecoin spinoff Shiba Inu climbed 44,540,000 percent. Squid, a coin named after the television drama "Squid Game," jumped more than 75,000 percent in less than a week — only to disappear soon after. It is one of the top 10 cryptocurrency predictions that investors should follow in 2023.
While most of the predictions rely on the previous performance of the market, some innovative things like Web3 and decentralization of the crypto market may even project a bigger bull run than many experts predicted. This will allow users to trade much faster and without intermediaries like banks or governments, which will greatly affect the crypto market. This could be the next big thing, so make sure you stay on top of it. It is one of the cryptocurrency predictions for 2023.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.