South Korean crypto experts, cryptocurrency He predicted that the total value of the market will rise from $800 billion to $1.5 trillion next year. Researchers think that after the first half of 2023, with global inflation under control, investors will turn to cryptocurrencies again.
The research team of Korbit, one of the largest crypto exchanges in the country “2023 Cryptoasset Market Prospect Report” analyzed how the industry will spend the next year.
bitcoin Although it has lost 65% of its value since the beginning of the year, experts believe that the market will recover next year.
Korbit researchers predicted that 2023 will look like 2019. For crypto investors, 2018 was quite difficult, just like today. After a deep bear market, the sector started to recover in 2019.
Experts mentioned that, contrary to the market perception, 2019 was quite profitable for cryptocurrencies:
“The majority of investors think that the situation has not changed in the year before the collapse in 2018. However, Bitcoin delivered 92% returns in 2019.”
The researchers also analyzed the Fed’s interest rate moves in the report they prepared. The US Federal Reserve stopped raising interest rates in early 2019. Thus, the flow of money to the crypto market has increased. Major economists expect rate hikes to end by mid-2023.
Korean experts added to the report that the adoption of crypto will continue and stablecoin projects will compete with each other.
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