BeInCrypto Predictions for 2023: Will Crypto Recover?

Who, a year ago, could have imagined the turbulent events that cryptocurrency will witness in 2022?

From the collapse of the Terra network in May to the crash of cryptocurrency exchange FTX in November, it has also taken financial backer BlockFi and hedge fund Three Arrows with it by storm, hurling them into the benches of bankruptcy courts.

But then, what does 2023 hold for us? Is the impact of infection coming to an end or should we expect more repercussions? The BeInCrypto international team has chosen to give their opinion on what to expect.

Encryption regulation on the horizon?

Nicholas Bongratz, editor:

• 2023 could be a breakout year for decentralized exchanges (DEXs) as customers weary of centralized exchange (CEX) scandals.
• As a result, more consumers will be familiar with features of DEXs, such as smart contracts (Smart contracts).
• Greater institutional integration of Decentralized Finance (DeFi) features into traditional financial markets.
• DeFi will also play an increasing role in creating digital identities, through non-fungible tokens (NFTs) and crypto wallets.
• The Total Value Locked (TVL) on DeFi protocols will return to at least $125 billion.
• The scams, which have multiplied over the past year, are likely to continue.
• Like last year, most of the stolen cryptocurrency will be acquired through DeFi.
• A higher crime rate on the metaverse could attract more attention from the authorities.
• The US Congress will finally pass a relatively comprehensive regulation on cryptocurrencies.
• The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CTFC) will do better to regulate cryptocurrencies.

According to Nicholas Bongratz, 2023 will be the year of DeFi

NFTs that are used for something, finally!

Jay Speakman, Editor:

• Bitcoin will drop to $12,000, Michael Saylor will buy more Bitcoin, and the board will be removed as head of MicroStrategy.
• Gemini crypto exchange goes bankrupt.
• Although the bear market continues, non-fungible tokens (NFTs) (particularly utility ones) will rise in 2023.
• Regulation is essential for crypto adoption by the general public: this is what will happen in 2023.
• Charles Hoskinson will step down and the Cardano Foundation will bring in someone with sales and marketing experience. Cardano price will continue to decline.
• DCG (Digital Currency Group) will be sued by Gemini.
• What will be called the “big shake” will happen in 2023; Hundreds of scam projects will eventually be exposed and give the entire crypto market a much needed boost. It will still be in bearish territory, but this event will be seen as a positive sign by individual and institutional investors.
• The National Football League will partner with Socios (Chilez) to build a series of NFT trading cards that will feature select NFL players as well as great moments in the league’s history.
• Chainlink, a Web3 blockchain integrator, will see its share price rise as blockchain adoption and the need for related services grows in 2023.
• Solana will collapse. The price of the cryptocurrency is down 95% from its all-time high and projects are fleeing the blockchain in favor of Polygon or Ethereum. Its constant outages and fallout from FTX will be too much to bear.

Jay Speakman predicts a tough year for Michael Saylor

AI icons, the hot new trend in the market

Samuel Kang, crypto editor:

• Bitcoin will reach $30,000 in 2023.
• Crypto regulations will be strengthened during this year.
• One of the AI ​​tokens will enter the top 20 of the cryptocurrency market.
• A big stock market will collapse during the year.
• The bitcoin/stock market correlation will drop by next summer.

According to Samuel Cange, AI tokens will make a big splash this year

Isn’t it over yet for Solana?

Cruel Notary, News Editor:

• Bitcoin price will test the resistance at $30,000.
• Other concessions will follow.
• Other altcoins will be classified as securities.
• An experimental cryptocurrency regulatory framework will be discussed by some of the world’s major economies.
• A new project with a strong use case will gain popularity.
• Sam Bankman Fried will keep his freedom.
• Cryptocurrency hacks will exceed $3 billion in 2022.
• More countries will hire blockchain experts for their cybersecurity.
• The total value held in DeFi will exceed $100 billion.
• Solana will rise from its ashes (more projects, more TVL, more developers).

According to Harsh Notariya, Solana will emerge stronger from her adversity

Long-term effect of infection?

Josh Adams, Feature Writer:

• Bitcoin’s dominance over Ethereum will decline.
• The European Union will change its plan to ban cryptocurrencies.
• DeFi hacks will drop again in 2023.
• Sam Bankman-Fried will be sentenced to life in prison for multiple alleged offenses committed with FTX.
• The EU will try again to ban proof of work, but it will fail.
• Solana’s price will be over $70.
• The contagion’s impact within the crypto sector will continue, causing funds and other large projects to collapse.
• The crypto hardware and cold wallet market will see significant growth as cryptocurrency holders remain wary of centralized exchanges.
• Overall, the cryptocurrency market will see improvements but will not record an all-time high for the top 20 coins.
• Do Kwon, founder of Terraform Labs, will be mistaken, arrested, and extradited to South Korea.

Josh Adams says the EU will fail to ban underground cryptocurrencies

Ripple will emerge victorious from its battle against the SEC

Martin Young, DeFi correspondent:

• The liquid stack (primarily for Ethereum) will go off.
• Blockchain platforms and AI tokens (artificial intelligence tokens) will appear.
• Blockchain games (GameFi) and their tokens will grow more and more.
• The metaverse will regain its popularity, but NFTs may be slower to take off.
• The crypto market will remain relatively flat until the second half of the year (much similar to 2019).
• The United States will enforce the regulations.
• Institutions will slowly return to the market once regulations are in place.
• There will be one or two bankruptcies/infections, but none as bad as FTX.
• Binance will emerge from this crisis relatively unscathed.
• Ripple will win against the Securities and Exchange Commission.

Martin Young predicts the emergence of AI tokens

Other countries will provide legal tender for bitcoin

Rahul Nambiambrath, journalist:

• Bitcoin will cross the $30,000 mark.
• Ethereum will cross the $5,000 mark by the second half of the year.
• XRP will rise above $1.50.
• You will win Soulbound tokens when used.
• At least two more countries will adopt bitcoin as legal tender.
• Web3 based social media platforms will get a bad reputation.
• The US will work more on crypto regulations.
• One or more Bitcoin ETFs will be approved.
• Enthusiasm for the Metaverse will fade.
• More and more platforms will adopt human-readable domain names. Alphanumeric wallet addresses will become obsolete.

Rahul Nambiampurath predicts that Soulbound symbols will win when used

LUNA permanent fail

Valdrin Taheri, Senior Technical Analyst:

• Bitcoin will reach $30,000 (but end the year lower).
• Ethereum will be on the verge of overtaking Bitcoin, but without achieving it.
• The FTT token will drop below $1.
• The LUNA token will also drop below $1.
• Bitcoin Dominant Price (BTCD) will drop to a record low.
• NFTs will not be able to perform as well as they do in 2021/2022.
• Three of the DeFi coins will end up in the top ten.
• Bored monkeys will no longer be number one in NFTs.
• Axie Infinity will remain the best game in the genre where you can play for profit.
• Do Kwon will end up in prison.

Valdrin Taheri believes Do Kwon will end up behind bars

And you, what are your expectations for 2023? Discuss it with us on our French-speaking Telegram channel!

Not giving an opinion

All information on our website is posted in good faith and for general information purposes only. Any action taken by the reader based on the information on our site is entirely at his or her own risk.

Source link