Will Crypto Markets Recover in 2023? Here’s what David Marcus predicts

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A former executive at Meta and PayPal, and current CEO and creator of Bitcoin company Lightspark, David Marcus, has made some predictions regarding the cryptocurrency market.

The Bitcoin enthusiast wrote in his blog on Dec. 30 that the market won’t be able to recover from the mistreatment of unethical entities like FTX and Terra until at least 2024.

In his words:

“We won’t come out of this crypto winter in 2023, and probably not in 2024 either. It will take a few years for the market to recover from the abuses of unscrupulous players and for responsible regulation to take hold.

In 2023, says Marcus, development will explode. A lot of confidence and stability was lost in 2022, but with the devastation comes the chance to start over, and he believes we’ll use technological breakthroughs to solve humanity’s most pressing problems as we move forward.

The former Meta executive predicts interest rates will rise in the first part of the year and homeowners will have to adjust to mortgage rates not seen in two decades.

Additionally, he said the Lightning Network will begin to show promise as the most efficient open, interoperable, low-cost and real-time payment protocol next year.

After years of greed in the crypto industry, we might finally see useful uses emerging. Making a ton of money by making a token from scratch is a thing of the past.

According to Marcus, the industry has returned to its usual schedule of generating real value and solving real problems. He predicts significant progress in areas such as payments, securing assets, DeFi, zero-knowledge applications like proof of reserves and Layer 1 scaling solutions, and a resurgence in zealousness. and enthusiasm for development on the Bitcoin network.

Marcus isn’t the only industry pundit who believes the crypto winter won’t end any time soon. A number of analysts share this view, so it’s probably best to approach the new year without high expectations for the market, to keep hoping for the best and to never stop researching and keeping up to date with the latest industry news.

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