There are always all sorts of rumours and forecasts flying around when it comes to cryptocurrency, and those who are interested in investing in crypto naturally want to know what the experts think. Of course, the one thing that most people want to know is whether crypto is likely to rocket, plummet, or remain stable and whether crypto such as Bitcoin will continue on its volatile journey. This is very important for those who are wondering what to invest in and whether crypto is worth a shot.
It can be difficult to keep on top of what is going to happen with crypto and what the trends and forecasts are. However, keeping your ear to the ground and your eyes open means that you can stay on top of the predictions of experts, which can give you a better idea of what to expect. Like all other aspects of the financial markets, crypto can be very unpredictable and volatile, and this is something that you need to keep in mind. In this article, we will look at some predictions for crypto for 2023.
Some of the Predictions
You will hear a lot of information being banded around and a lot of predictions and forecasts when it comes to crypto. Some of the predictions that are being made for 2023 include:
Prices Could Climb
There has been a lot of volatility with crypto prices, and they have taken a tumble over the past year with considerable price drops. Some believe that this will continue for the remainder of this year. However, next year, experts believe that crypto prices could rise considerably partly due to greater acceptance of the currency by businesses. In fact, market experts have predicted that Bitcoin could hit $100,000 by the end of next year. Having said that, there are mixed forecasts on the performance of crypto, so it is important to always keep your ear to the ground and keep on top of movements and predictions.
Affected by the Weakening Dollar
Another thing that industry experts predict is that Bitcoin could enjoy greater success as a result of the weakening dollar. The US dollar is the world’s most traded currency as well as being the global reserve currency. It has a huge impact on international trade, but it has been weakening for a significant period. This could mean crypto such as Bitcoin could become a more attractive prospect to investors, and the more the dollar weakens, the more likely it is that investors will be interested in crypto.
Growth in ETH
One of the other predictions being made by market analysts is that there will be growth in Ethereum (ETH) which is the second-biggest cryptocurrency globally. It has experienced sharp falls over recent months, and this has led to investors jumping to conclusions with regard to the reason behind the drops. Many things have had an impact such as soaring interest rates and energy prices. However, many believe that an exciting time lies ahead for ETH over the coming year.
These are a few of the predictions to keep an eye on if you are considering investing in crypto.