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Crypto and Bitcoin in 2023: what do influencers expect from the market?

Financial influencers see many advantages in the state of the current crypto market. The value of most crypto has collapsed. Also, the overall size of the crypto market has dropped more than 60%.

However, many developers and start-ups do feel relief. The current market provides less pressure for quick action, but rather more room to find long-term user cases.

Influencers on crypto price development in 2023

Crypto coin prices are currently falling along with stock prices. Still, there is no reason to worry. History has already shown that after a bearmarket, prices can rise again exceptionally. So the market is expected to pick up again. This is a recurring pattern you see leading up to and after the Bitcoin halving. The Bitcoin halving is when miners’ rewards are halved.

Halvings previously always resulted in large price increases. Bitcoin’s next halving will not occur until 2024. This should mean that positive changes in the price of Bitcoin will take place again in 2023 leading up to it. However, it is important to keep an eye on the Bitcoin halving cycle theory. This is not expected to hold true for the halving in 2024.

Bitcoin crypto cryptocoins crypto exchanges cryptocurrencyCrypto (Image: Pexels / Karolina Grabowska)

Impact on society

The social impact of crypto is very interesting. When the war started in Ukraine, it became visible that Ukrainian government allowed crypto donations to be made. With this, it ended up raising $65 million. Also, more and more countries are deciding to use digital currencies as part of the financial system. Consider El Salvador and the Central African Republic, for example.

Another prediction that many experts and influencers are positive about is the growth of payment terminals for digital currencies. This will allow crypto payments to be more secure both digitally and physically. In the Netherlands, for example, we already use NFC chips.

These are also used for Apple Pay, for example. In 2023, we will increasingly be able to pay directly in the store by using this chip in our phone. Finally, superpowers such as PayPal and Twitter are also increasingly betting on crypto-payments. By the way, Elon Musk may well have several reasons for this.

Will Bitcoin hold its position in crypto in 2023?

Bitcoin has always been the largest coin when it comes to market capitalization since its launch in 2009. Ethereum has been No. 2 since its inception in 2015. Yet this ranking could finally change in 2023.

Ethereum has grown a lot in recent years. This is because this virtual machine gives you a platform on which to build applications. The platform has also undergone a transformation so that data can be validated in a different way. As a result, much less energy is consumed. Today, Ethereum consumes much less energy than other platforms such as PayPal.

Many influencers say Bitcoin is the only true crypto currency that is fully decentralized. Therefore, according to many, Bitcoin is destined to dominate the crypto world. However, Ethereum is gaining interest because it offers more use cases than Ethereum.

Crypto developments in 2023

2023 is going to be an important year for crypto. Many developers are building more applications that are easy to use. This will allow you to continue building on existing businesses, but there is also plenty of room for new technological developments.

By developing secure solutions, it will be much safer to store cryptocurrency. With the use of digital bridges, users can transfer currency from one blockchain to another. Looking back at previous years’ predictions and historical price analysis, there seems to be recovery.

Bitcoin crypto cryptocoins cryptocurrencyBitcoin (Image: Pexels / Alesia Kozik)

Stay up to date on the latest stock price developments?

You can always follow the developments yourself with our WANT analyses and overviews. Of course, you can also follow the BTC and live cryptocurrencies 24 hours a day if you want to stay informed in real time. Finally, you can practice stock and crypto investing without financial risk by creating a free account on virtualinvestment.com.

Note: We never give financial advice, so you can’t interpret our contributions that way either. Always do your own research and decide rationally if, when, what and how much you want to invest.