If you’ve done some research before reading this guide, you must’ve discovered that Bitcoin, as well as other cryptocurrencies available, have lost more than $1.5 trillion of value since the end of 2021. This drop in value occurred due to various reasons – such as tighter and more restrictive policies – which is why you may be wondering what will happen to these digital assets in the future. Bitcoin and other cryptos are expected to bounce back until 2023 and here are the top things that you must know:
1. It Might Bounce Back in 2023
The very first thing that you must remember and know is that it’s quite impossible to predict whether or not Bitcoin and other digital assets will bounce back by the end of this year, however, a wide range of experts believe that it will in 2023.
Of course, this is still only a prediction, which is why you must pay extra attention to all the fluctuations and changes in the world of cryptocurrencies, mostly because you’ll be capable of making better choices when it comes to investing.
2. You Must Pay Attention to Several Factors
As we noted at the beginning of this guide, a wide range of things impacted the worth of cryptos, thus, it’s essential that you pay attention to several factors, including, the regulations implemented by different countries, the adoption of crypto payments in the online world, stock market exchanged based on cryptocurrencies, as well as which countries opted for adopting this type of money as legal tender.
For instance, Lithuania is one of the EU countries that completely encouraged Bitcoin and other virtual currencies, and the Lithuania Crypto License allows companies and individuals to obtain licenses to work with these digital assets. These changes are crucial in the popularity and value of cryptos, which is one of the reasons why you must pay close attention to what other countries are doing.
3. More Companies Are Implementing Crypto Payments
If you purchase products or services online, you might have noticed that an increasing number of companies implemented crypto payment options. Since they’re accepting payments in the form of Bitcoin and other currencies such as Dogecoin and Litecoin, countries are now taking another look at these digital assets. If more companies implement crypto payments, governments around the world will have to take action, which can lead to the widespread use of cryptos.
4. Security Breaches Could Be a Problem
Lastly, it’s worth mentioning that security breaches could lead to another decrease in value. Due to this, you may want to monitor the market for quite some time, especially since this will tell you if these currencies are reliable, and more significantly, if all the investments you’ll make will be safe. For example, a failing platform can easily cause you to lose a lot of money, thus, be extra careful.
Currently, cryptocurrencies aren’t as valuable as they were last year, however, by the year 2023, experts believe that these digital assets’ value will bounce back. Because of this, you may be considering making some investments, and before you do, you must take some time to follow the market trends and fluctuations, so that you could guarantee that you’re making the right investment decision for the future.