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Signs of Bitcoin going to the moon can be seen in the Bitcoin exhibit hall. … [+]
Crypto investors have taken it on the chin this year. Will next year be better? What are market participants and new blockchain startups excited about for his 2023, especially after the lessons learned from Terra Luna and his FTX disaster?
Clem Chambers, a senior Forbes contributor who writes regularly about the cryptocurrency market, said 2022 was Bitcoin’s Wile E. Coyote moment, citing cartoon characters with a tendency to fall off cliffs. I gave an example.
“In general, I think the first half of 2023 will be the best time to enter the market,” said Alex Andryunin, CEO of Gotbit in Portugal. There are hedge fund portfolios, but none of them exceed 2% of total capital, and in 2023 they will either differentiate or die,” he said.
Gotbit manages a market of around 280 tokens in various sectors. We are seeing an influx into decentralized finance projects as investors see his DeFi as the answer to centralized exchanges.
“GameFi is sick. Trust me,” says Andryunin. “Startups that haven’t released a product are in the best position. They are able to raise capital and are ready to expand in the second half of this year. Most of them have suffered huge losses.They don’t have a working model for their tokens,” he says.
Coins to buy in 2023 — Ethereum is one of them, says Gotbit of Portugal. (Photo by STR/NurPhoto via Getty … [+]
Gotbit’s recommended cryptocurrency portfolio looks like this: 15% Bitcoin, 15% Ethereum
ethereum
matic
ADA
shortly
Dot
FIL
atom
CROs
Aptos
they are bearish on litecoin
LTC
XMR
Daniela Pérez, CMO of Moonland, a multi-chain social multiplayer metaverse game run by a company called Meta Studios in Miramar, Fla., believes GameFi will live on in 2203. .
“I think a lot of projects have given[blockchain-based]games a bad reputation because they took advantage of the market when it was booming and didn’t deliver what they promised,” she says. I will say it without mentioning it.
The Axie Infinity, which was GameFi’s darling at one point, is trading at around $7 as 2022 comes to a close.
“There are a lot of projects out there that are creating great products and thinking long-term and not just making quick cash, but how they can impact the industry,” Perez said. say. “We know how long it takes to create a great game experience. Even if many game projects don’t pay off, especially when it comes to building a ‘best game’ in six months. If it promises to do so, don’t be surprised. ”
Besides the fact that only a handful of gamers are playing games on the blockchain.
Perez said her company believes GameFi tokens will turn around in 2023.
“Even if new games are on the blockchain, games are just games,” said Perez. “This is a growth industry. Just invest in what you can afford to lose.”
2022: It was the worst year
This year has been a turbulent year for cryptocurrency investors. Anyone who bought a new coin in January 2022 lost almost everything. This is especially true for altcoins.Bitcoin
Bitcoin
The collapse of FTX in November remains a headwind for crypto investors. Sentiment is pretty bad with governments scratching Bitcoin’s neck. In a world where anything is possible, even cryptography is possible.The consensus is that governments will never succeed in punishing Bitcoin specifically, but Tether
USDT
Bitcoin is still the best. Here we are comparing it to Ethereum, Cardano and Axie Infinity. … [+]
Another drawback is that many crypto projects, venture funds such as Sequoia Capital, and some pure crypto investment firms had financial accounts on the FTX exchange. Uncertainty awaits them all now. Industry folks expect to dig more into his FTX rubble early next year. The worse the headline, the lower the cryptocurrency.
The collapse of FTX and the failure of the Terra network stablecoin in 2022 are two sides of the same coin: Liars, Leverage, and Loans.
“I remember Terra.
Luna 3
“Many investors have seen FTX’s questionably high growth rate, and when FTX was actively investing in questionable crypto projects last summer, many in the community believed that FTX would go bankrupt and I predicted that the whole market would collapse.”
It collapsed and hasn’t recovered from its sell-off in early November. Bitcoin has fallen nearly 20% since the bad headlines for FTX began on Nov. 8.
Alameda Research, the trading arm of FTX, was suspected of market manipulation even before the Luna debacle. One or two hedge funds called for this and “fin twit” — brought it to the mainstream of financial Twitter. Criticism of FTX’s possible downfall didn’t make it to Bloomberg or CNBC until after it all fell apart. Awaiting trial after being released. (It was much less, according to one of CoinDesk’s writers.)
Waves, April 2022
wave
For Sharov, if he could burn $10,000 in cryptocurrency, “I would invest most of it in a new Web3 project,” he said. “I will put the rest in Bitcoin.”
The misspelling of the word “hold” has become mainstream in cryptocurrency terminology.the investor … [+]
Only HODL Bitcoin instead
From diversifying your portfolio to throwing all your eggs into one basket, Alex Reinhardt, the German entrepreneur and investor behind an Asian app called Elvn and new blockchain startup PLC Ultima, hopes that in 2023 Say you love Bitcoin.
“I only invest in one coin,” he says. “Bitcoin. There are many coins and different blockchains in the crypto market. The industry is getting bigger every year. But if we are talking about the future, then Bitcoin has it. Invest $10,000 and wait a few years for the next bull market.”
Most altcoins follow Bitcoin. When Bitcoin falls, other currencies often fall further. However, riskier alternatives may outperform if Bitcoin is rising. This is where diversification comes in. For crypto, it works upwards. If you hold many different coins and bitcoins, when bitcoin falls, the rest of your portfolio will fall even more (barring very sophisticated and expensive hedging strategies).
“I think only a handful of coins have a future,” says Reinhardt. “It’s difficult to predict which will do better in the long run.”
The year ended with one notable trend. The FTX debacle has caused Bitcoin investors to withdraw their cryptocurrencies from centralized exchanges like Coinbase and move them into hard wallets.
BanklessTimes.com reports that 88% of Bitcoin trading volume was off-exchanges at the end of the year. This is his highest in three years. The move could signal investor sentiment may be moving away from centralized exchanges, indicating growing confidence in Bitcoin as investors continue to hold chips instead of redeeming them. There is a possibility that
Investors will have a hard time finding someone who has given up on crypto entirely. there aren’t many of them. Still, investing in cryptocurrencies is different than investing in stocks. These are not Polkadot stocks. This is the equivalent of a venture capital investment in a high-risk start-up, and includes a rigged Russian roulette on top of it. Investor protection does not exist.
Like the term “hodl,” the phrase “bitcoin moon” is a cute combination of words that defines a community of techies and thugs, greedy investors and thrill-seekers.
Bitcoin may have already landed on the moon and is raining down on Earth for better or worse.
Alas, for crypto investors (gamblers, if you want to call them gamblers), the New Year has always been a time to make wishes and set goals. Well then, “to the moon” in 2023.
* The author owns Bitcoin and owns the Cardano, Polkadot, and Stellar Lumen tokens mentioned in this article.
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