VanEck Publishes Cryptocurrency Prognostications for 2023
- VanEck has issued 11 crypto predictions for 2023.
- They estimate that BTC price will climb from $10-12k to $30K by mid-2023.
- The predictions also suggest that Elon Musk will lose his SEC lawsuit.
VanEck, a mutual fund manager and ETF provider, recently issued 11 forecasts about the cryptocurrency industry in 2023. These predictions can be applied to many fields, including price developments.
VanEck began by predicting the price of Bitcoin. It was suggested that BTC will hit its lowest point of the crypto winter in Q1, with prices ranging from $10-12K. They then asserted that the second half of 2023 will see an upswing, with a possible peak of $30,000. This could be attributed to lower inflation, less energy concerns, and a possible resolution to the Ukraine situation.
VanEck also predicted that financial institutions will tokenize assets worth over $10 billion. Another interesting prediction was that Brazil will become one of the most crypto-friendly countries in the world, tokenizing a portion of its sovereign debt on blockchain.
With regards to Twitter, it was noted that the social media platform will likely expand its payment options using state money licenses. This could prove to be a rival to the likes of Venmo and Cash App.
VanEck’s 11 Cryptocurrency Predictions for 2023 first appeared on Coin Edition.
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