• The year 2023 began on a positive note, with a team from Bitwise Investment making 10 predictions of what we can expect
• The market is expected to recover with Ethereum’s merger, Layer-2 solutions, and other upgrades that will reduce transaction cost by 1000%
• Coinbase is predicted to make a comeback with its largest installed user base
As the year 2023 began with a positive note, bringing a new hope for investors and traders, a team from Bitwise Investment has come up with 10 predictions of what the crypto market can expect in the coming year.
The crypto market is expected to recover in 2023, with the introduction of various new upgrades and Layer-2 solutions. One of the most anticipated upgrades this year is the Ethereum merger, which is estimated to reduce transaction cost by 1000%. This could potentially lead to transactions being as low as 1/10th of a cent, creating a whole new era in the financial world.
Another prediction made by the Bitwise team is that Coinbase is expected to make a comeback with its largest installed user base. Although Coinbase’s stock dropped by 86% in 2022, the firm’s revenue still increased from $520M in 2018 to $3.3B last year. This suggests that the company’s user base is growing, and it could potentially lead to a 100% rise in Coinbase’s market cap.
The other predictions from the Bitwise team include the emergence of more stablecoins, more decentralized applications and increased adoption of blockchain technology. Additionally, the report also states that the use of cryptocurrency in day-to-day transactions is expected to increase, with more merchants and businesses accepting crypto payments.
Overall, the report indicates that 2023 could be a bullish year for the crypto market. With the introduction of new upgrades and technologies, the crypto market is expected to experience a surge in price. This could potentially lead to a new era in the financial world and open up new opportunities for investors and traders.