Bankruptcies of large crypto exchanges, a wave of hacker attacks, a decline in the popularity of mining and an increase in the popularity of staking, a prolonged crypto winter, and more and more active intervention of officials: 2022 turned out to be a challenging year for the digital currency industry. 2023 promises to be tougher? What challenges will the market face next? Find out the answers and crypto price prediction in 2023 from our article.
What predictions have already come true?
The predictions of ChainBroker`s experts regarding the tightening of regulation of the crypto industry in many countries have come true. By the way, you can go to https://chainbroker.io/funds/ to explore the latest and most comprehensive statistics on popular projects, funds, or platforms. This site is one of the most reliable sources of information about cryptocurrency. This tendency is partly due to significant scandals like the bankruptcy of the FTX crypto exchange, resulting in many investors losing their savings. A string of hacks and money thefts across various services, including cross-chain bridges like Wormhole, have fueled officials everywhere to advocate tightening the screws and total control over transactions. A striking example is the European bill MiCA, which provides for the rejection of anonymity, the provision of personal data by users, and limited access for representatives of such services to the market.
However, there is another side to this coin: many small states are becoming more loyal to digital assets. For example, the island country of Dominica, in collaboration with the Huobi crypto exchange, is considering the possibility of providing “digital citizenship” for cryptocurrency.
New regulation
The story of the bankruptcy of the FTX crypto exchange in 2022 raised a stir in the community. Many investors have lost their savings. Probably, in 2023, the rhetoric of financial regulators will be built around the ideas of “protecting the interests of investors” and limiting their access to cryptocurrencies. For example, the European law MiCA provides for the mandatory disclosure of personal information to the European Securities Market Supervisory Authority (ESMA), including information about transactions. This is especially true for AML (anti-money laundering) and KYC (user verification) procedures.
Proof-of-reserves
Already, many crypto exchanges have begun to experience liquidity problems: users have massively withdrawn their savings from centralized trading platforms, fearing a repeat of the history of the collapse of FTX. Therefore, individual exchanges began to confirm their reserves publicly. The procedure is called proof-of-reserves. Simply put, this kind of audit aims to prove to customers that in the event of a collapse and bankruptcy, the company will have enough reserves in reserve to pay off customers. The proof-of-reserves trend will clearly continue throughout 2023 and will definitely affect the value of crypto coins.
Halving
Not far off is the new Bitcoin halving in 2024 (halving the reward to the miner for the block). The emission of the historically first cryptocurrency and its supply on the market will decrease again. In 2023, miners will still be able to mine 6.25 BTC per new block, so expectations of the upcoming emission reduction will most likely begin to gradually build into the coin’s price towards the end of this or the beginning of next year.
Bitcoin Price Prediction
- At the moment, the price of Bitcoin is going down, and given the above, it is reasonable to assume that around April-May, Bitcoin should reach its final bottom and turn around.
- In 2024, there will be a Bitcoin halving, and then it will get a new historical maximum value.
Current falling is also observed against the fact that the United States Federal Reserve raised interest rates immediately by 75 basis points. At the end of 2022, the forecasts of experts came true, according to which, in the period from November 7 to November 13, the price range of the coin should have been within 19,150-22,540 dollars per 1 token. Whether there will be another serious price jump this year is still unknown, but such a probability is high.
Tokens with growth prospects
Consider promising crypto assets that are just starting their rise but have already attracted the attention of investors worldwide and can be a good investment.
IMPT Token
The ecological token of the IMPT project interested investors even at the pre-sales stage. IMPT.io has occupied a rather promising niche because, in the context of the impending environmental crisis, many are beginning to be interested in how to make their own contribution to environmental protection and make it more meaningful.
Already, the project is interacting with thousands of leading brands that have agreed to make deductions from their income to invest in environmental initiatives.
IMPT is directly linked to the carbon credit market. It will allow acquiring loans not only for companies but also for ordinary users. Tokens can be bought or received as cashback when purchasing products from partner companies.
The IMPT token can now be purchased during the second pre-sales stage. At the moment, investors have invested more than $12.5 million in the project.
D2T token
The D2T token is owned by the Dash 2 Trade project. This platform was created specifically for crypto investors of different levels. The developers plan to offer clients access to many tools to help them trade in the cryptocurrency market. The tools should speed up and simplify the trading process, and the platform aims to be a reliable assistant for every trader in making informed decisions.
Each user can choose a subscription on the site depending on their needs. Full access to all analytical functions without restrictions will cost 1000 D2T tokens per month.
The project can be safely called promising. Now it is successfully passing the stage of pre-sales. The total investment in the project has already exceeded $5.5 million.
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