How about cryptocurrency market next year? Ten predictions for cryptocurrency in 2023

Dec 30,2022
How about cryptocurrency market next year? Ten predictions for cryptocurrency in 2023

This year is the most chaotic year for cryptocurrency, and there is a long cryptocurrency winter. As the end of 2022 approaches, encryption enthusiasts and investors are considering understanding the encryption forecast in 2023. If you look at most of the forecasts, we can say that the market is ready for recovery, and now will be the best time to return on investment. However, let's look at the top 10 cryptocurrency forecasts investors should follow in 2023.

Increase in Bitcoin usage

The first prediction is that investors and institutions are increasingly using Bitcoin. Experts believe that more institutional investors will invest in BTC because they have positioned cryptocurrency as a legal asset class. Statistics also show that by the end of 2023, more than 500 million people in the world will own Bitcoin. As BTC's leading position in the vertical industry continues to rise, the adoption of Bitcoin is expected to peak in the next few years.

The past performance of the encryption market shows that 2023 will be a good year

The encryption field is undoubtedly volatile and prone to sudden fluctuations, but sometimes it follows a pattern. Looking back, 2021 is one of the best bull market years for cryptocurrencies, because most cryptocurrencies have reached record highs. Then in 2022, the collapse of regulation, FTX and macroeconomic factors led to a secret winter, marking a major bear market.

In order to support this prediction, the adoption of cryptocurrencies by institutions is also taking place rapidly, with well-known enterprises such as Disney, Starbucks and Adidas, as well as large banks such as JPMorgan Chase and Fidelity on the list. The rise in interest in cryptocurrencies could mean another bull market in 2023.

The first spot Bitcoin ETF may be approved

Due to the changes in the rules proposed by the Securities and Exchange Commission (SEC), the spot Bitcoin Exchange Traded Fund (ETF) may be approved in the middle of 2023. Once the Crypto Exchange recognizes this rule change and finally obtains approval, the main reason why the SEC rejects the spot bitcoin exchange traded fund will become invalid.

The bear market will end in early 2023

Experts predict that cryptocurrency will begin to recover its price. Many macroeconomic factors, such as geopolitical events, may have a huge impact on the market. Although it is speculative, the change of the Federal Reserve's interest rate policy and the decline of inflation rate may be signs of another bull market.

Towards Decentralized Finance (DeFi)

In 2021, the total deposit of DeFi service will exceed 200 billion dollars. Despite the winter of encryption in 2022, the demand for decentralized financing has been growing rapidly. The emergence of more complex and interesting DeFi applications indicates that we may be moving towards a completely decentralized financial era. In 2023, more attention will be paid to such use cases as synthetic wallet, forecast market and self managed wallet.

Once the encryption market hits the bottom, a bull market will come

In view of the devastating events and market collapse in 2022, some encryption projects and alternative currencies have shown their resilience. Cryptocurrency markets have proven that it can survive adverse times. With this strength and durability, once the whole market bottoms out, the industry will enter a new bull market in 2023.

Ether will surpass Bitcoin again

Looking back to 2022, one of the major events with far-reaching impact is the merger of Ethereum, that is, the transition from the network to the stakeholder model of energy conservation. This protocol level development has formed a vortex of development, use cases, innovation and capital. As encryption continues to develop more subtle but equally important updates in 2023, Ethereum will again outperform Bitcoin. This will promote more adoption and capital, making Ethereum the leader of the next bull market.

Bitcoin will come back

If the history of cryptocurrencies has shown anything, it is certain that BTC will not make any progress. It is predicted that over time, consumers will regard Bitcoin as a value storage tool and an inflation hedging tool, thereby increasing its adoption rate. In terms of technology, the bull market of Bitcoin always coincides with the four-year market cycle in history. This includes accumulation (buying), upward trend, distribution (selling) and downward trend. Experts believe that the accumulation of this cycle will begin in 2023.

Most memes will disappear

In 2023, the little-known meme coin may completely disappear from the market. Although some experts also believe that as the market matures and the hype fades, the meme currency like Chaigou will gradually disappear. As memes are known for their community support and hype, rather than real utilities, they may not survive in the market in 2023.

Web3 will become the next big event

We have witnessed the rapid rise of Web3 technology in the past two years. With its development, it may fundamentally change consumer behavior. With the rise of Web3 currency, it will continue to make great strides in 2023. The future of the Web3 industry looks bright.


The above is a brief description of the ten encryption market forecasts in 2023. According to experts, 2023 may be the basis of the next bull market. More and more enterprises and investors have joined the trend of encryption, which has promoted its adoption. Therefore, investors may refer to the prediction of the top 10 cryptocurrencies in 2023.