January 2023

What Can We Expect for Cryptocurrency Markets in 2023?


On January 1, 2013, one Bitcoin was worth $13.30. As of today, Bitcoin was worth over $16,000. Even though Bitcoin hit its peak of around $61,000 two years ago, if someone in 2013 knew that a Bitcoin would be worth $16,000 a decade later, I think most blockchain enthusiasts and supporters would be thrilled.

What we’ve seen this year is actually a much needed correction in this industry; one which will likely spur helpful regulation and action from various industry groups. From Forbes: “Under the surface,[] the vast majority of the issues, collapses, and bankruptcies [in the crypto market this year] were not caused by underlying problems or issues with either blockchain technology or the crypto assets themselves.” Most of what we’ve heard about in 2022, perhaps understandably, are the negative aspects of crypto, from complex fraud schemes to hacks and exploits. But there many individuals/companies building some incredible things with blockchain technology, AI, and Web3 and I think 2023 will be the year that highlights those projects.

Courtesy of Michael Hewitt, Blockchain & Digital Asset Group Lead.