Outlook for 2023: Will Crypto Recover? By BeInCrypto

© Reuters. BeInCrypto Predictions for 2023: Will Crypto Recover?

The Terra network collapsed in May, then FTX went bankrupt in November, and BlockFi and the Three Arrows hedge fund went down. As all of their files moved to the bankruptcy courts in the black 2022, what does 2023 hold for the crypto sector? Is the impact of contagion coming to an end or should expectations differ from the events of last year? The international team of BeInCrypto has chosen to give their opinion on what to expect.

It will jump to if developers work more on its network

Marina Ezzat Alfred, a journalist and translator for the Arabic section of BeInCrypto, predicts that:

Payment systems will use encrypted currencies and the UAE will be the cradle of the industry

Cryptocurrency and Russia

The expectations of the head of the Arab team, Doaa Shadid, are summed up in the following points:

Rising Currency Prices, Lending NFTs and Equity Liquid Derivatives: Signs of a Bullish Market

Mohamed El-Gamal, editor at BeInCrypto.com Arabia and trader in the cryptocurrency market, goes deeper into his predictions and finds:

Expectations of the enactment of the encryption law on the horizon?

In this context, BeInCrypto writer and economics professor Nicholas John Pongratz believes that the year 2023 will be loaded with decisions related to the laws of regulating cryptocurrencies. We summarize Nicholas’ ideas through the following points:

  • 2023 could be an important year for decentralized exchanges (DEXs). Customers are weary of central exchange (CEX) scandals. As a result, more consumers will be aware of DEX features, such as smart contracts.

  • Greater institutional integration of DeFi features into traditional financial markets. DeFi will also play an increasing role in creating digital identities. With 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. It appears that most of the stolen cryptocurrency will be drained through DeFi. The higher crime rate on Metaverse could also attract more attention from the authorities.

  • On the one hand, the US Congress is set to finally pass a relatively comprehensive regulation on cryptocurrencies. On the other hand, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CTFC) will do better to regulate cryptocurrencies.

NFTs are finally making their way back to the market!

The technical writer on the team, Jay Speakman, also has his own perspective on the future of encryption in 2023. His thoughts are summarized in capturing the following:

  • What will be called the “Great Tremor” will happen this year. Where hundreds of fraud schemes will eventually be exposed. The market will also remain in the bearish zone. However, this event will be seen as a positive sign by individual and institutional investors.

  • The NFL will partner with Socios fan token platform Chiliz. That’s with the goal of building a series of NFT trading cards that will feature select NFL players as well as great moments in the league’s history.

  • protocol will collapse. Due to the 95% drop in the price of the cryptocurrency from its all-time high, projects are fleeing the blockchain in favor of Polygon or . That would be due to the fallout from FTX’s downfall.

AI artificial intelligence codes, the hot new trend in the market

BeInCrypto’s French-language columnist, Samuel Cange, predicts the following:

Isn’t it over yet for Solana?

As for the news editor of the English platform, Harsh Notariya, who is an expert in the field of Web 3, he has several expectations for the current year, including:

Some other altcoins will be classified as securities.

Long-term effect of infection?

News journalist Josh Adams also shared his predictions:

Expectations of a victorious exit from its battle against the Securities and Exchange Commission

Martin John Young, DeFi specialist and author of crypto-related educational articles, says:

Other countries will offer legal tender for bitcoin

Digital currencies

Rahul Nambiampurath, a journalist who has been active in the crypto community since 2014, predicts:

LUNA will continue to fail until it falls, so the predictions say

When it comes to 2023 crypto predictions, Valdrin Tahiri, Senior Technical Analyst, BeInCrypto believes:

And you, what are your expectations for 2023? Discuss it with us on Meta.

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