2022 is remembered for cryptowinter. Then there was a prolonged period of rapid price decline, and interest in digital currency decreased. But new decisions, perspectives that formed trends in Forex changed the situation. What will happen to crypto in 2023 and popular trends are described in this article, written with the support of experts from broker Imperial Wealth International.
Cryptocurrency market in 2023. What to expect?
There will be more institutional investors. The trend will be long-lasting, as many companies start investing in digital currency. Plus, they are releasing their own cryptocurrency products.
Forex Broker Imperial Wealth International and other experts predict a further and even more rapid development of the DeFi market. In 2023, the structure will become very competitive for the financial services that we have grown accustomed to.
Given last year's events and the collapse of FTX (the largest centralized exchange), DEX (decentralized trading platforms) have become in high demand. Based on this, we can assume that the digital currency market will continue to be heavily dominated by DeFi.
Experts at broker Imperial Wealth International believe that a new trend may well be the development of non-interchangeable tokens (NFT). They have become popular and most likely, the interest of investors will only increase, which will contribute to the emergence of new products and platforms. Plus, it will allow musicians and artists to actively sell their creativity on blockchain.
Other trends in the cryptocurrency market should also include:
- more extended functionality of stabelcoins. According to the expert of broker Imperial Wealth International, the segment will develop and over time there will be additional opportunities for investors;
- free funds can be stored in crypto. A good substitute for bank deposits, because the conditions are more favorable. Plus, the experts at broker Imperial Wealth International believe that the trend will develop further;
- active use of a cryptocurrency wallet in Telegram. At the beginning of 2022, it was just becoming popular, then now, the tool has a huge demand. It is safe to use the account, plus the messenger maintains anonymity, and there are no additional commissions;
- tighter regulation. Control of cryptocurrency auditors will be strengthened and the rules will be closely monitored. It is possible that government agencies will also become more active, and will develop new bills and introduce regulatory measures regarding digital currencies;
- technological solutions will improve. Experts at broker Imperial Wealth International believe this will make crypto more accessible and convenient;
- increasing environmental awareness. Since mining requires large amounts of electricity (this has a negative impact on the environment), it is likely that in 2023 there may be cleaner ways to mine and use crypto;
- GameFi. According to Forex experts at Imperial Wealth International, another trend will be blockchain games with a set of tools to make money. New economic models will most likely be implemented here, and the trend will develop rapidly. This is one of the main trends of 2023, because there is already a huge demand. Gamers get a good income, and the hobby has long ceased to be a simple hobby.
Forex Broker Imperial Wealth International believes that in the near future there will be increased competition and the emergence of new projects that attract investors with different capital. New companies will emerge, and with them additional services and opportunities.
What will happen to the crypto market next year? Forex Broker Imperial Wealth International suggests
It is obvious that this segment will develop, set new trends, and generate more and more interest. It is likely that 2024 will be remembered as follows:
- mobile applications for working with multicurrency wallets will replace web versions of websites. It's much more convenient, because everything is at your fingertips and you can request a withdrawal in a few clicks;
- cryptocurrency exchanges will reach a new level;
- interest in Stablecoins will increase. Experts at broker Imperial Wealth International believe that they will be used many times more often to store funds;
- bank cards with direct access to cryptocurrencies will become more popular. They will be used more often for payments in trading networks around the world;
- market growth. The trend will not go down. It will continue, which means that in 2024 it is possible to capitalize crypto, which will increase the number of investors and the emergence of new projects;
- technology development. This will affect the productivity of networks, and digital currency will be more widely used in various industries, including logistics and finance;
- Bitcoin or Ethereum will strengthen their positions;
- institutional investors will become many times more numerous.
Experts at broker Imperial Wealth International suggest that in 2024 the cryptocurrency ecosystem will reach a new level of development through new technologies and projects. Services, applications will expand the list of possibilities, simplify the life of many. Telegram payments will become an integral part of everyday life and will provide the necessary tools, preserving customer anonymity.
In 2023, several important trends have emerged in the cryptocurrency market. We can already observe a significant capitalization of digital assets that has reached certain limits.
There was also a trend of growth of investors, users. This is due to the expansion of the ecosystem and other equally important reasons. Plus, there is a trend of using blockchain technology outside the financial sphere.
Experts at broker Imperial Wealth International believe that the crypto market will be just as dynamic, but will remain volatile. It is volatile, but due to the emergence of new participants, many current trends will continue. They are confident that new products and projects will appear in the near future, which will instantly attract the interest of investors. Companies that provide clients with the right tools and create comfortable conditions will be able to stay in the trend.