2022 has been an interesting year for cryptocurrency with many of the top cryptos falling to levels we haven’t seen in a long while. This might come off as bad news for people who have never invested in cryptocurrency, but for people who have been following their price action for the last few years, this is looking like a bull run waiting to happen. This could be the year when bitcoin comes back in force and brings all the other main cryptos back up with it. There are also several interesting projects waiting to be rolled out and rumored regulation changes are coming. Let’s take a look at some of the top trends to watch out for in the world of crypto in 2023.
GPU Prices Could Go Back Up
One of the things we could see this year is many people regaining interest in crypto mining. This will probably have a direct effect on the price of GPUs, as it usually does. This is why anyone who was thinking about mining crypto would be wise to start buying their equipment right now before the shortages hit. This will allow you to make great savings on different top mining GPUs.
Altcoins to Take Centre Stage
2023 should also be the year of the altcoin. One of the reasons for this is because of the increasing savviness of crypto investors. The last few years have brought many newcomers into the niche, but people who are waiting to invest now are on average much more knowledgeable about cryptocurrency in general.
There was a time when most crypto investors did not care much about coins outside of bitcoin, ether, and maybe XRP, litecoin, or Cardano. These days, you’ll hear about DeFi tokens, and DAOs and people will get much more specific about projects.
If you’re still new to crypto, do not fall into the trap of investing all your money in the most obvious cryptos. Head to sites like OKX.com and look at the price of different altcoins too. Learn about these altcoins and the projects behind them and inquire with the community about what they think about them. You could get great value by looking at undervalued coins as they have the most growth potential.
Bitcoin Could Reach $70,000
Bitcoin is hovering around the $20,000 mark now, but it has been there for a while, and for anyone who has been following bitcoin, it looks like it might be going back up again. Interest in bitcoin has never truly waned, and a lot of people are still looking for it to go to the moon, and this could be seen as an opportunity to get in. There are also talks of the first Bitcoin Spot ETF being approved this year, which will surely help.
Everything points to bitcoin having a good year with certain analysts predicting it could hit $100,000 by the end of the year, though it going for around $70,000 by the end of the year would be more realistic.
More Regulation
We can also expect to see more regulation being introduced to manage the grey zone surrounding cryptos like bitcoin and ether. Stablecoins should also be a target as they are tied to major currencies. Exchanges have also been operating with little to no oversight, and this could be poised to change this coming year.
These are all things you should look out for if you are interested in getting into the crypto markets this year. It should be a very eventful year for sure, and you should keep your eyes on a few currencies right now and be prepared to make a move if you want to capitalize on all that action.
