What Kind of a Year Do You Think 2023 Will Turn Out to Be in Crypto?
We are almost at the half of 2023, and I don't have a clear picture in my mind how will this year be recorded in the crypto history like.
Of course, that's also the main difficulty. There is still plenty of time left in this year, and I don't have a crystal ball to see what will happen during the following 6-7 months.
There are a few possibilities I consider.
- 2023 will be considered as a year of impressive developments in the crypto sphere
- 2023 will be considered a year of transition, with fewer developments released
- 2023 will be considered the year when crackdown on crypto changed some business models
- 2023 will be considered the year when the US made its worse mistake regarding crypto businesses
- 2023 will be an accumulation year
- 2023 will end up a bull year
Let's take them one by one.
I believe some major releases, unless already announced, are being held off until it's becoming clear we are in a bull market and we are back to a risk-on mainstream narrative. If that happens well before the end of the year, 2023 might have a chance to be considered a year of impressive developments. However, if such developments are not announced, that doesn't mean they aren't being worked on.
That will happen if major development releases will be pushed to 2024 instead of 2023.
Well, we have crackdowns. The question remains what will be their effect. Will everyone start registering under the securities law, despite in some cases not being securities and with a law older than our grandparents? And with a SEC not willing to make any clarifications? Or will they simply leave hostile jurisdictions?
This is linked to the previous point. If businesses will pack up and leave instead of registering and changing their business structure according to what the SEC says, then this may be the year when the US made their worse mistake regarding crypto. I tend to believe this will be split. Some will comply (Coinbase) while others will leave (or close down - Binance.us).
2023 is an accumulation year, at least partially. We rarely, if ever, will have an entire year we can call an accumulation year.
Maybe we are not very happy about the recent evolution in the market, but if we look at bitcoin from the start of the year we are much higher. The problem is what will happen from here to the end of the year. And no, I don't have a prediction.
What do you think? How will 2023 be recorded like?
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I'd go for the transition year.
That is very possible. The crackdown and the general state of the economy may push it to be a transition year. When there is uncertainty, people hold back.
Yes You are quite right. This year is a full of these assumptions but at the end no one can predict what will happened to crypto rate.
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Honestly, still really hard to predict. Too many macro factors that can affect it.
That is true. It is more of a guessing game at this point because there's enough time and chances for any of those scenarios to unfold.
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The way we see it, this year is not looking good for the market right now because the news coming out is very bad, but we will see that in the next two to three months, we will see a lot of good news for the market. It will be seen going up in a way.
Why do you think in the next 2-3 months will be a lot of good news?
Because pre halving pump is pending.
That's next year in April. Still quite some time until then.
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Plan accordingly. Today I am more concerned about the fallout from forest fires.
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And long-term holders, who use the lower levels to build up their positions. I bet that's what Saylor is doing.
This weather is crazy. Canada has wildfires and we had probably the rainiest start of the year since I can remember in our country. June should be a hot month already and I don't think I've seen the sun for at least a week and won't see it for another one if the forecasts are right.
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You have said it all
We never can tell what will happen to cryptocurrency at the end of the day but let us keep our fingers crossed
Long-term I have no doubts that strong projects will prevail and have their well-deserved place. In the short term, it might be difficult to see what will happen, that's why this was more of a guessing game than a prediction.
I think it will be a mix of 3 and 4. I don't see the government stopping their crackdown and crypto-related companies will have to decide what they plan on doing.
That combination is possible. And yes, the SEC seems to have chosen a direction and walking on it no matter what. The funny thing is Gensler gets the heat from his actions, but they are backed and probably the direction set from a much higher position. The kind of position that is electable...
https://twitter.com/LovingGirlHive/status/1666691171077459968
Nice information, thanks. Sometimes we need to see other viewpoints and add them to become deep research for the future.
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I'm actually trying to understand where we stand in the crypto sphere for this year myself. Long term, I have no doubts, but when you assign a shorter time frame, it's not easy to see where things are going (which is counterintuitive in some cases, but not for markets and new tech).
I think it will turn out to be a transition year in which crypto reaches a new level of maturity based on all the events that happened within the year. The SEC are indirectly making crypto stronger.
I like your thoughts. I lean toward a transition year too. To paraphrase a well-known adage, hard times create strong crypto. So yeah, this may be a good year for crypto, even the SEC actions.
Yes, strong crypto is what we're creating during this times. More thick skin for the battles ahead :)
In my opinion, we will have a mixture of events in 2023.
We do, but which one will be dominant?
I am seeing the whole of 2023 looking bearish
Hard to say. You may be influenced by the current situation, or maybe that's how the situation will be until the end of the year. I think not, though. There will be at least one or two good (potentially very good) months until the end of the year. This should turn 2023 into a very good accumulation year.
Hehe. I think you picked up those five points perfectly. It looks like those 5 points are all happening or will soon happen one by one). 💪🔥
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Yep. That's the problem. In hindsight, which one will leave a dominant mark over 2023?
I'm an optimist, but I think all these problems can really change the rules of the game and make us all stronger and much better.
Which point are you leaning toward?
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I am a layman here.
I hope to be in the "green zone" but looks like we may end this year staying in the predominantly red zone.
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Don't be discouraged if you aren't in the green zone in 2023. This seems to be quite a mixed year. If you have patience and you haven't picked some tokens that may disappear until then (risky bets), when the bull market will be in full swing (probably next year) you will be happy.
Nice picture. I looked at SPS, DEC and HIVE and they look a lot different. It could really go either way. Accumulation for some and death for others. Diversify and hope some make up for the others.
!PIZZA
I don't think any of them will die. At least not in the foreseeable future. The SPS chart looks bad, but, for example, SPS rewards will be harder to get after Land 1.5. That's a guaranteed SPS reward that won't come for ALL surveyed landholders.
Yes we hope these three will not die. The same SPS rewards are just distributed to a different set of people. Each of those people will have to stake a bunch of DEC and cards to get those rewards. I have one occupied and hope to get 50 SPS per day from it but that may be wishful thinking. Either grain has to get really cheap or ...
I see your point about needing DEC to stake. I swapped SPS to have more DEC too. Grain has a max price of 1 DEC per grain, which is what people get from the game, so the price will be lower than that for sure.
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I am thinking optimistically so I am going to say #1.
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Great mindset! That would be the perfect outcome for this year.
Thank you, @gadrian! It certainly would be.
Have a great day and rest of the week. 😆
I think it will be #5 but I hope it will be #6 hahahaha. The AI wave in the markets caught everyone by surprise and I think the same will happen to cryptos.
Hahaha, same here. After ChatGPT, I don't think that AI wave should have caught anyone by surprise. That doesn't mean it's a sustainable wave, at least now.
US government will continue to try to destroy any crypto that is not owned and controlled by them--unless God has mercy and Washington, DC with all its agencies is taken out by a huge tornado or a meteor. !CTP
Hard to get rid of cockroaches (this can be understood in both ways). If they are eliminated from one place, they come out in another.