What are our crypto predictions for 2023?
Did you know that when they’re not dishing up masterly analysis, everyone’s favourite web3 wizards - 11:FS Global Strategy Director, Crypto Mauricio Magaldi and Visa Head of Crypto Cuy Sheffield - like to dabble in a spot of divination? I know, right?!
And as if that wasn’t amazing enough already, they were kind enough to share their pearls of wisdom with me (and the listeners of this podcast).
With that, it’s time for our 2023 crypto predictions! Read on, fellow dudes. Read on.
And make sure you check out the first article in our predictions series here.
What did YOU think would happen in 2022?
Last year, we put out a poll on Twitter to the tune of ‘share your predictions for the year ahead in web3’.
41% of people answered ‘crypto crash’
40% voted for ‘crypto rally’
14% voted for ‘crypto payroll will be normalised’
5% voted for ‘other’
Well, kudos to 41% of you…
What’s in store for 2023?
Right, enough with the sentimentality. I’m getting all misty-eyed over here. Let’s turn our focus to the FUTURE.
Our soothsayers are convinced that mullets are making a comeback. As a big Patrick Swayze fan, this pleases me. I rewatched Road House just the other day, as a matter of fact. Oh. Wait. DeFi mullets. My bad.
Mauricio and Cuy believe we’re gonna see a resurgence of the DeFi mullet over the next 12 months - that is, the worlds of DeFi and TradFi intersecting. The likes of HSBC, Wells Fargo, Goldman Sachs and more have already taken the plunge. Question is - who will be brave enough to join them?
Crypto mightn’t look the hottest property at this present moment. But there’s a huge opportunity for growth and consolidation for some of the big banks in 2023. Why not break open the war chests and invest in the future?
Crypto mightn’t look the hottest property at this present moment. But there’s a huge opportunity for growth and consolidation for some of the big banks in 2023.
Regulators killed the momentum star?
Hopefully not! But brace yourselves for some serious regulatory activity in the web3 space. With everyone still smarting from the FTX debacle, bringing some order to the sector has presumably never been higher on the agenda. Coinbase Vice President of International Policy Tom Duff Gordon believes the future of the industry, and widespread adoption, is contingent upon it. He might be right.
Who will triumph in the aeons-long war between the Ethereum and Bitcoin blockchains?
BTC is still the largest cryptocurrency by market cap, outstripping ETH by a not insignificant amount. However, if the younger upstart continues on its current trajectory, it could surpass the OG as the most valuable currency in the next year. The master becomes the apprentice, kinda.
NFTs. Remember them? The phenomenon might’ve receded from the front pages slightly, but don’t be fooled -there’s still a lot of exciting activity happening in this space. Just not at the same volume or price as the halcyon days.
And it’s no bad thing that NFTs aren’t on the public radar in the same way they used to be. You know that old saying, ‘there’s no such thing as bad press’? Well, NFTs may well be the exception to that rule. The public pasting this web3 phenomenon has received in some quarters was hard to witness at times. Don’t sleep on this subculture.
You know that old saying, ‘there’s no such thing as bad press’? Well, NFTs may well be the exception to that rule.
For our last prediction of 2023, we’re hopeful of seeing investment and innovation in the metaverse really kick on to build on the fledgling promise of recent years.
According to Forbes: ‘The success of the metaverse is, very likely, going to hinge on the success of augmented reality (AR) technology’. No one’s arguing with the potential of this space - it could be absolutely transformational. The manufacturing, gaming, real estate, healthcare and education industries will testify to that. Fingers crossed for some real headway in this space before the year it out.
And there you have it. The proof, as they say, will be in the pudding. Until then, keep tuning into our Blockchain Insider podcast. Our web3 wizards chat about all things crypto with some of the best in the biz. What more could you want?
See you in 12 months.
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