Will cryptocurrencies attract more investors in 2023?

Sat 31 Dec 2022 ▪ 1:00 p.m. ▪
min read – by

In mid-November, the Blue Planet had 8 billion inhabitants. 15 days later, it was also announced that it would house around 402 million cryptocurrency holders. For some analysts, this number could double next year. Decryption!

The crypto revolution is on

Crypto-skeptics like Peter Schiff may mock the enthusiasts, but that does not affect their attachment to their favorite assets: cryptos. Last September, when the number of crypto investors approached the 320 million mark, there were 1 million of them who had at least 1 BTC in their wallet. However, many of them were deficit due to the bear market.

A study carried out by Crypto.com estimated that the number of cryptocurrency holders amounted to 402 million as of 1er December 2022. This represents an adoption growth rate of approximately 2.9% per month. At this pace, the number of investors in bitcoin and other cryptos will exceed 600 million next year. They could even reach 800 million during this period.

Increase in cryptocurrency adoption rate

Moreover, this graph shows that divorces with cryptocurrencies were less substantial despite the tragic events of 2022.

Flashback to the year 2022

Said study also highlighted other points no less interesting for cryptocurrency enthusiasts. Certainly, Crypto.com did not mention any prediction on the price of bitcoin, but addressed the famous “bear cycle” which lasts about 4 years.

Illustration of the famous 4-year “bear cycle”

It can be said that at the time of this writing, we are still in the midst of ‘cryptographic winter’. That being said, it is natural for market cycles to fluctuate between bearish and bullish periods as shown in the chart above “, it was specified in the report.

Otherwise, for the year 2022, there were not only misfortunes of the FTX and Terra type. Indeed, good news has also succeeded over the past 12 months, to name only:

  • the Merge of Ethereum : authorizing a 99.95% reduction in the energy consumption of the blockchain;
  • renewed interest in DEXs: in November, they accounted for 14% of spot trading volume;
  • the emergence of layer 1 (L1) blockchains like Aptos and Sui;
  • the various innovations in the NFT sector: and this despite a drop in trading volumes in recent months;
  • etc

Our attention has also been focused on the data concerning the nest eggs accumulated by crypto hackers this year. In fact, they amount to 3.7 billion dollars. This represents a drop of 63% compared to 2021. Note also that the market capitalization of the crypto market, which was close to 3,000 billion dollars last year, has fallen to 800 billion dollars.

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The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy of this World, against all hope, I will say that I had something to do with it

We would love to say thanks to the writer of this short article for this outstanding content

Will cryptocurrencies attract more investors in 2023?

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