Giant Crypto Exchange Releases 2023 Crypto Report

While expectations for 2023 improve in the general market as the rate of increase in interest rates slows, the research arm of the giant cryptocurrency exchange Coinbase Coinbase Institutionalannounced its crypto market expectations for the next year in its new report.

Required reading: Our institutional research team is out with their 2023 Crypto Market Outlook. We give our view on three key themes for 2023 and dive deep into Bitcoin, Ethereum, stablecoins, regulation, NFTs.

Find it at https://t.co/wCqmlkypqf

— Coinbase Institutional (@CoinbaseInsto) December 20, 2022

The researchers first bitcoin, Ethereum and touched on the status of other altcoins. According to experts, next year altcoins It’s not going to be very bright. Even if a new uptrend for the crypto market starts in 2023, BTC and ETH are expected to stand out.

“We think investors’ demand for altcoins has been severely impacted this year. We are not so sure that dwindling demand will recover in 2023.”

Bear Market May Extend Due to Confidence Issue

According to historical data, bear markets in crypto lasted an average of 18 months. Coinbase experts mentioned that this period may be extended by 1-2 months due to the latest news on the agenda. Considering that the bear market started in the first days of 2022, the scenario of experts is that the current situation will continue until the end of summer 2023.

“The bankruptcy of the FTX exchange caused a huge loss of confidence in the industry. A crisis of confidence could lead to a prolongation of the bearish market.”

Crypto To Move In Parallel With Traditional Assets

There are also short-term expectations in the report prepared by Coinbase Institutional. Experts predict that cryptocurrencies will move in parallel with traditional markets (gold, stocks, etc.) in the first months of 2023 due to the illiquidity caused by the collapse of FTX.