The volatility of cryptocurrencies has always made these assets risky. And in 2022, the market collapsed, delighting skeptics who considered the technology a bubble. However, despite the rapid decline, the decentralized financial system is still considered stable and attracts much user interest.
Many believe that coins will not be able to recover from such a collapse, while others take advantage of the low price and actively invest in Bitcoin, Ethereum, and others.
Some expect that the price of Bitcoin will rise to $100,000 in the next few months, while others, on the contrary, predict another collapse to $10,000. However, there are some trends that we will definitely witness in the near future. So, what awaits the crypto market in 2023? Let’s take a look at the most realistic trends that seem to be just around the corner.
More Countries Will Accept Crypto
The main benefit of blockchain technology is its security and anonymity, allowing users to proceed with any kind of transaction without the possibility of being tracked. At the moment, the use of cryptocurrencies is one of the ways to avoid paying taxes.
And this is just one of the reasons why governments seek to regulate the decentralized system. More financial institutions worldwide are expected to implement blockchain projects in 2023.
Massive Investments in Stablecoins
Investors are always looking for a more stable investment environment. And while the future of Bitcoin remains unclear, stablecoins remain insanely attractive for most users. And this trend will probably become relevant, at least until the positive forecasts for the cryptocurrency market come true (if such a thing happens at all).
Stablecoins have all the advantages of cryptocurrencies but do not experience significant fluctuations in their value, which explains their popularity.
More Markets Accepting Cryptocurrencies
Users are interested in cryptocurrencies regardless of their volatility, which means that such payments are becoming more and more in demand. You probably already know that Bitcoin can be used to deposit at an online casino in Canada but this is far from the only area of its use. Do you want to pay for your tour via crypto? You can easily do it in 2022.
Many travel agencies, restaurants, and retail companies already take advantage of this payment method. And it’s anticipated that the number of organizations will grow even more in 2023.
The Appearance of New Crypto Assets
Innovative coins are released daily, we all just overlook that. Only those really passionate about crypto are actively following all market trends. However, the fact remains: the blockchain world regularly changes, and it’s predicted that numerous young currencies will be launched.
Meme coins are especially popular: for instance, Tamadoge is the most widespread option that can be received when playing games or purchased using fiat currencies. Users adore these funny little coins, so their number is expected to increase in 2023.
Don’t Trust All Gossip
In 2023, the cryptocurrency market will be more stable than it was five years ago. For example, if in 2018, investors were shaken and motivated by the news that Elon Musk was advertising or investing in some coins, now such events are unlikely to provoke any changes in the market.
In any case, cryptocurrencies are not going anywhere and will most likely become just an everyday asset for most people. Experts recommend carefully monitoring trends since the sphere remains unpredictable and can please us with very sudden changes, both negative and positive.