Crypto Graphic Projections 2023
Live Update World Market and Investment- Crypto Graphic Projections 2023 - The year 2022 has passed and now we will welcome 2023. As we enter 2023, there are several projections for the future, one of which is the fate of crypto.
What is the Graph crypto future? The Graph (GRT) price prediction 2023 suggests the price might reach $0.2 in the second half of the year. The year-to-year change is expected to increase by +122% from the current value in 2023
In 2022, crypto appears to reverse 360 degrees with conditions in 2021, where crypto had experienced its heyday 2021. But in 2022, crypto experienced a bad period due to several crypto company crashes.
However, as in previous years, there are many optimistic (bullish) and pessimistic (bearish) opinions about the future of cryptocurrencies and what crypto will look like next year.
Some observers think 2023 could be a period of reversal after languishing throughout 2022, but some believe that the bearish period will continue in 2023.
Despite the debate of bullish and bearish views that always occurs among crypto asset watchers. There are exciting projections for the crypto industry in 2023. Here is a projection or outlook for crypto in 2023 based on the opinions of some observers.
1. J.P Morgan
The American investment firm J.P Morgan believes that the presence of crypto projects such as Ethereum contributes an important factor to increasing the use of blockchain.
"We believe that the existence of Ethereum Merge and the subsequent Ethereum Surge upgrade process could be an important factor in terms of increasing blockchain use cases to new areas, including financial services," said analyst JP Morgan.
2. Matthew Sigel (Vaneck)
According to Vaneck analyst Matthew Sigel, Bitcoin is likely to rise to US$30,000 and could also fall from US$10,000 to US$12,000.
In addition, there are Sigel predictions in the future, such as Bitcoin price predictions, a huge potential interest in blockchain technology, and the adoption of cryptocurrencies and stablecoins.
"It is expected that in the future, institutions will use blockchain to simplify storage and settlement while reducing costs for customers. Meanwhile, with persistent inflation, Latin America is seeing the fastest adoption of cryptocurrencies and stablecoins in the world," the analysis said.
3. Tom Norwood (Loop Markets)
Loop Markets co-founder and CEO Tom Norwood predicts that demand for bitcoin will grow and expects the crypto market to recover in about six months.
"Demand for Bitcoin should continue to grow regardless of market conditions, as it is still better than most coins as it at least has a good chance of going up.
4. Goldman Sachs
The largest investment company in the United States, Goldman Sachs, said that the catastrophic FTX event will bring scrutiny from regulators.
"The ongoing FTX crisis of the crypto market crash is a huge opportunity for potential scrutiny by regulators in the coming months," the statement said.
Crypto Graphic Projections 2023
After seeing some predictions from observers, there are also several predictions from crypto companies, one of which is the crypto media company, CoinDesk. Not just CoinDesk, but the Bitcoin digital wallet company, Coinbase. Here is the cryptographic projection or outlook for 2023 based on CoinDesk and Coinbase.
1. Crypto regulation
2023 is still the year when crypto regulation is once again a concern for the market. The difference is that it looks like in 2023, crypto-related regulations will be more encouraged.
This is because it is based on the case of the crash that happened to crypto companies and had an impact on crypto assets. Current regulation tends to be necessary so that non-random people can commit fraud based on crypto trading.
"Stricter crypto regulations and an 'epic' battle by the community will be proposed to counter the parts that threaten decentralization," said Laura Shin, host of the "Unchained" podcast.
2. Web3 platforms are growing
Bearish macro market conditions are expected to shift crypto projects away from speculation and more towards utilities.
According to Coinbase analysts, in the future, the evolution of the crypto ecosystem could place topics such as tokenization, decentralized finance (DeFi) permissions, and Web3 platforms.
Web3 is a term in Internet technology. Web3 is the latest generation of the Internet that is the successor of the previous generation, namely Internet 1.0 and 2.0. Web3 prioritizes Internet freedom, so a decentralized system is prioritized.
Web3 will work using machine learning and also highly sophisticated artificial intelligence to make the data presented to its users more accurate.
3. The use of blockchain will be wider
The CEO of Indodax, Oscar Darmawan, revealed that the use of blockchain technology will also be very interesting.
The reason is that development is expected not only to occur in the financial sector, but other industries that are outside the financial ecosystem will also enter and use this technology.
This is considered possible because people will increasingly discuss DeFi, which relies on blockchain technology as the backbone of its operations.
También predice que se considera que esta tecnología continuará desarrollándose para ser más fácil de entender.
"No solo blockchain, sino también el metaverso también estará listo para despegar a medida que la infraestructura madure. Por lo tanto, a la gente le resultará más fácil moverse por el metaverso. Además, el concepto de blockchain en el sector de la salud también está creciendo. Por ejemplo, ¿cómo pueden los hospitales usar la tecnología blockchain para almacenar registros de seguimiento de pacientes?", agregó Oscar.
4. Bitcoin Halving
Citando a Zipmex, el Bitcoin Halving es un evento en el que la recompensa del minero de un bloque de Bitcoin se reducirá a la mitad cada 210 mil bloques que ocurre una vez cada cuatro años, hasta que alcance el límite máximo de 21 millones.
Esto significa que los mineros de Bitcoin serán recompensados por minar con éxito o agregar nuevos bloques en la red blockchain.
The reward will also be earned when the miners successfully verify the transaction made by the user. After reaching 210,000 mined blocks, the rewards for each miner are cut. This moment appears once every four years and is known as Bitcoin Halving Day.
This makes this year an interesting year for Bitcoin investors and miners, due to this phenomenon, although this phenomenon is likely to occur in the last quarter of 2023.
Oscar said that the most appropriate time for a Bitcoin purchase is a year before the halving day. This means that this will happen in 2023.
He predicts that Bitcoin will enter a saturated phase in 2023 due to the drag on the price drop that has occurred since the beginning of this year. However, it will be followed by an upward correction as a welcome sign to the day of halving.
"When Bitcoin rises, it will be followed by an increase in the price of other altcoins. The Bitcoin bull run I predict will happen in 2024.
However, the right year to re-accumulate cryptocurrencies is 2023. The reason is that, in the following year, the price of Bitcoin might have risen too high again," explained Oscar Darmawan.
High-Quality Tokens Are Likely To Be Sought
According to an analysis by Coin base, institutional investors have pulled out of the spread of their capital to most risk assets in the second half of 2022, due to rising interest rates, high inflation, and weak capital inflows.
The savings come even amid the assumption that a recession in the United States could be mild. Expectations about the recession period from early 2023 to the end of the first quarter of 2024, as the stimulus-backed reserve buffer and the still sizeable number of job openings, strengthened economic data.
They will tend to select higher-quality digital assets such as bitcoin and Ethereum, based on factors such as sustainable token omics, the maturity of their respective ecosystems, and their liquidity.
In addition, many conventional risk assets still tend to be better and investments in cryptocurrencies such as BTC and ETH have not been able to extract themselves from their fundamentals, which could eventually open up several opportunities.
Coinbase sets a low probability of crypto opportunities in its performance, which will separate it from conventional risk assets in the first months of 2023.
The number of Bitcoin miners will increase again
As explained above, in the year 2024, investors will notice the existence of the Bitcoin Halving phenomenon, where this phenomenon will revive Bitcoin and other cryptocurrencies.
However, Coinbase noted that poor economic conditions for bitcoin miners are unlikely to improve anytime soon, amid continued weakness in the broader crypto market.
Data from the latest Glassnode shows that Bitcoin miners sell 135% of the coins mined per day, indicating that miners liquidate all newly mined coins as well as their share of their Bitcoin reserves.
The events of early November 2022 triggered a surge in Bitcoin miners to sell them, returning aggregate miner reserves to levels last seen in early 2022.
However, with the Bitcoin Halving phenomenon, the number of miners may increase again, especially since this phenomenon is also a place to reward those who have successfully mined or added new blocks on the blockchain network.
Source from cnbcindonesia.com
