For the first time since November 2021, the market capitalization of cryptocurrencies surpassed $1 trillion. Bitcoin’s value increased by 7.5% on January 14 to reach over $21,000 as investors look for a possible bottom in inflation. In addition, huge increases were also made by other well-known cryptocurrencies including Ether, Cardano, and Dogecoin.
Although the future of cryptocurrency is unknown, a team from Bitwise Investment has made ten predictions on what will happen in 2023.
- The cryptocurrency market will have a U-shape in 2023.
- Fast Crypto Transaction compared to previous year.
- When cryptocurrency prices increase, Coinbase, which has the largest installed user base, will return.
- New crypto regulation in 2023, specially In US Congress.
Hydra is the next upcoming upgrade of Cardano for layer 2 scalability solution. With these upcoming upgrades, we expect the ADA price to reach as high as $0.71 as per data from coinpedia.