What will happen to cryptocurrencies in 2023?

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The beginning of 2023, a new world of predictions opens up about what will happen to cryptocurrencies this year, especially considering the great market failure in 2022.

2022 has been anything but calm for the world of cryptocurrencies, that 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, 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. of course, the consequences of the incredible collapse of the cryptocurrency exchanges, many doubts arise.

Of course, not the entire crypto world is based on Bitcoin and is 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

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 cryptocurrency 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 Assets Council of Financial Professionals.

In relation to this point, it is expected that the more regulations we see in 2023, the more the use of cryptos in daily 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 assure that more people will feel comfortable with cryptocurrencies next year, despite bad news such as the collapse of FTX, which will lead to a solidity in the future.

Technological advances are also considered a great help in the future to avoid the loss of all cryptocurrency portfolios due to a computer failure that erases 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 experts say for this new year is that most of the meme coins will disappear or 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 boost the value of cryptocurrencies. And it is that, it is expected that it will allow users to trade much faster and without intermediaries such as banks or governments, which will positively affect the cryptocurrency market.

Some experts predict that we are currently 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 is set to change in 2023 , with a big boost ahead of 2024. In other words, next year is a year of survival and great challenges.

Source: Computerhoy.com

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