Rabat – As a tumultuous year for cryptocurrency concludes, experts are expecting further hardship for crypto investors as 2023 brings new complications, while lingering doubts continue. Most crypto experts are anything but optimistic for the coming year, as the US Securities and Exchange Commission (SEC) is expected to boost regulation of crypto exchanges while the aftershock of 2022’s “crypto winter” is expected to linger deep into 2023, and possibly 2024.
The year 2022 saw crypto’s bull market end in a spectacular fashion that has left many investors reeling with large-scale losses over currencies previously seen as relatively safe bets within the tumultuous market. Big industry names such as Terraforms Labs and FTX came crashing down, leaving a bitter taste around the crypto scene.
The image of crypto investment as a potential “get rich quick” scheme evaporated in 2022, and forecasts for 2023 are equally gloomy.
Former Paypal and Meta executive David Marcus expects “another tough year,” predicting that “we won’t exit this ‘crypto winter’ in 2023, and probably not in 2024 either,” in an interview with crypto-oriented outlet CoinTelegraph.
Coindesk author Nikhilesh De foresees a similar difficult year ahead for crypto in 2023. “Next year will not, I suspect, be pretty,” he wrote on Friday, adding that “as the current bankruptcy cases advance and possible new bankruptcies arise, the industry will have to deal more and more with a lot of questions around user privacy and consumer protections.”
Trader Gareth Soloway does not just expect crypto misery to continue, but expects it to worsen, as soon as January 2023. He explained in a recent tweet that crypto’s top performer Bitcoin’s “volatility is at all-time lows. Negatively and indifference is high.” He also lamented the lack of market rallies on Wall Street in recent months, saying he expects a “crypto pop” in January for name-brand cryptocurrencies such as Ethereum, Cardano, Solana and Ripple.
After a rough year for crypto investors, few experts foresee an impactful rally in the near future.
