The head of research for digital asset manager 3iq_corp expects crypto prices to rise by Q3 in 2023, and offered other predictions for the year ahead. Bitcoin rises slightly even as it limps home in 2022. JPRubin23 writes
A year ago, before the crumbling of the Terra ecosystem, the implosion of Three Arrows Capital and crypto lending platform Celsius and disgrace of exchange giant FTX, who could have foreseen that the digital asset industry would be limping home in 2022. A year ago, bitcoin was still percolating over $47,000 and seemed likely to remain unruffled by the economic headwinds already buffeting the world.
That's going to be the curveball.2023 will be a barbell for digital assets. It will be the core Layer 1s, Bitcoin, Ethereum, and it will be the use of NFTs by TradFi companies, which is a corollary to my first point. In 2022, the ecosystem was you had your alt level ones like Solana, Algorand and the like providing the bulk of the non-Bitcoin, Etherium, stablecoin market cap. Seventy percent of market cap in digital assets of the last 12 months.
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