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Marcus Lightspark CEO David Marcus thought the crypto winter wouldn’t be over until 2024. Bitcoin [BTC] is trading above $16,500 at press time, avoiding major volatility at the end of 2022.
David Marcus, founder and CEO of crypto firm Lightspark, disappointed the bulls with his outlook for the coming years. He stated that Bitcoin [BTC] and other cryptocurrencies may not recover from the consequences of the actions of “unscrupulous gamblers” until at least 2024. He shared his thoughts in a tweet on December 30.
Some predictions for 2023: Exit the speculators, make way for the builders. Spoiler alert, we were entering another tough year, but there will be silver linings along the way https://t.co/6Vg0RwIfEh
— David Marcus (@davidmarcus) December 30, 2022
It has been nearly two months since FTX collapsed, but the ramifications following the debacle have continued to disrupt sentiment and price performance.
Marcus thought their specter would haunt the crypto industry well beyond 2023. While only mentioning FTX once, he mentioned that “unscrupulous players” would cause the market to underperform even beyond 2023. beyond next year.
Marcus summarized:
“We won’t come out of this ‘crypto winter’ in 2023, and probably not in 2024 either.”
Crypto winter to strengthen the industry
Bitcoin’s four-year halving cycles, which have produced growth in some years, could run into trouble. The year of the next halving, 2024, was increasingly set to be a time of bullish price action, with some predicting the uptrend would start a year earlier, in the second quarter of 2023.
Even though the recovery took longer than expected, Marcus believed that once it happened, a new, stronger industry would emerge. Marcus thought the Bitcoin Lightning Network would show promise as the most popular cryptocurrency in the world.
ARK Invest CEO Cathie Wood, another prominent voice in the crypto industry, took to Twitter to say:
“The Bitcoin blockchain has not moved during the crisis caused by opaque centralized actors. No wonder Sam Bankman Fried doesn’t like Bitcoin: it’s transparent and decentralized. He couldn’t control it.
The Bitcoin blockchain has not budged during the crisis caused by opaque centralized players. No wonder Sam Bankman Fried doesn’t like Bitcoin: it’s transparent and decentralized. He couldn’t control it. https://t.co/pV8UPT7cnm
— Cathie Wood (@CathieDWood) December 11, 2022
Bitcoin (BTC) was trading at $16,500 at the time of writing, avoiding major volatility at the end of 2022.
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