The end of the year is always a good opportunity to look ahead, there are many predictions that have been made for Bitcoin, Ethereum and other crypto assets.
In this article, we are going to analyze and learn about Bitget CEO Gracy Chen‘s predictions.
Bitget CEO’s predictions, are well analytical and clear, starting with the most popular altcoins, such as Bitcoin and Ethereum, and moving on to future bets and new trends that could be of important depth even in the first quarter of 2023.
Crypto: Bitcoin and Ethereum’s 2023 predictions
Bitcoin has always been influenced by external factors, this is one of the certainties that every investor may well know.
Gracy Chen, is no different, taking a very general look at it, the market is in a total downturn. So, dictated by the period of low confidence, recession and increased regulatory scrutiny, according to Bitget’s CEO, it could bring Bitcoin into an eventual lower support level, namely at $10,000.
This could all turn out to be a possible scenario, given the time distance to Bitcoin’s halving (expected in April 2024). Another scenario, this time one of recovery, could occur if regulatory policies lend themselves to less rigidity, allowing Bitcoin and other crypto assets, a gradual revival.
While Bitcoin is a truly difficult currency to predict, Ethereum‘s volatility makes it even more indecipherable. CEO Gracy Chen, uncertain of the prediction, sees two scenarios facing Ethereum: one bullish and one bearish.
In the positive scenario, Ethereum will see a bullish momentum in the spring of 2023, driven by users of the metaverse and NFT holders, the token may rise up to a price of $1350/1400 and by the end of 2023, consolidate at $1500.
In the negative scenario, on the other hand, in the short term (first quarter 2023) Ethereum will experience a huge collapse, which will cause the token to touch minor supports. down to levels of $1000/1100, continuing the negative trend until the end of April. The recovery under this scenario, though, remains slow and gradual until the end of 2023.
New year trends: 2023 is set for the metaverse
The market in the new year will still see casualties, resulting from the insolvency of some companies in 2022, one only has to think of Alameda Research, FTX, LUNA, and Three Arrows Capital. They will increase by necessity many regulations, the transparency of many will be a source of discussion. While all of this will not only be necessary and make the ecosystem more secure and sustainable, it will at the same time seriously challenge many companies and various sectors in the crypto world.
The opportunities in the cryptocurrency world will change, space will be given to other types of sectors, already launched but with a need for affirmation. According to Bitget’s CEO, the development of the industry and metaverse will take place in 2023. The prediction is that the sector will be strongly established, with great results for the tokens associated with the various projects.
NFTs will be an integral part of GameFi and both the artistic and entertainment markets. Meanwhile, Gracy Chen’s certainty relates to the metaverse world, which in 2023 will begin to integrate brands of financial services, banks and credit companies, growing exponentially and revolutionizing and influencing the market.
So to the question, where to invest in 2023?
Investments, according to Bitget’s CEO, should still remain diversified.
Taking an example from his portfolio, he explains that diversification of investments is the key to a good wallet. The biggest advice comes precisely from the prediction on the metaverse and NFTs. In addition, it’s worth keeping an eye on tokens from projects offering services in Web3 and also more technological projects such as AVAX, DOT, SOL and many others.
GameFi: 2023 could restore hope for the industry
In a formidable expansion in 2021, the GameFi-related industry reached heights close to $4 billion. However, 2022, as with most projects also saw a radical decline in investment in GameFi.
Gracy Chen’s words, also bring a glimmer of hope about the world of crypto games, citing a few worth knowing about in 2023. Illuvium, the leader in 3A games, Sandbox, the leader in the metaverse, and Delysium, one of the most popular battle royale games.
Thus, it is safe to say that the biggest prediction made by Gracy Chen, CEO of Bitget concerns metaverse as the basis of market revitalization.
Will metaverses be able to pull the market into a bullish condition?