Coinbase forecast for 2023 Bitcoin - BTC's risk-adjusted e | Easy Crypto Blog
Coinbase forecast for 2023
Bitcoin
- BTC's risk-adjusted exchange rate is steady and outperforms most of the top 10 Forex currency pairs (excluding periods of the Luna/FTX crash).
- Of the miners, the strongest remain. The industry is being cleared of players with weak management.
- Mt Gox will distribute 140k BTC, but this will not affect bitcoin rate much. All who wanted - sold already with discount. And BTC distribution will happen in staggered order, gradually.
Ethereum
- Coinbase is bullish on the Ethereum fork. ETH will become deflationary during a bull market when activity on the network increases.
- Investors will start staking more ETH when they open the withdrawal from staking (planned for March 2023). Since it will already be possible to withdraw profits, the business model of steaking will become more transparent.
- TVL (liquidity) will flow into L2 blockchains on ether (Polygon, Arbitrum, Optimism).
- Ethereum will benefit from all applications and blockchains built on it. The more value an app, such as Uniswap, brings - the more attention Ethereum will get.
Stablecoins
- The growing dominance of Stablecoin's market share confirms the value and importance of this asset type. Even despite the total failure of almost all algorithmic stablecoins.
- USDC and USDT remain the most liquid stablecoins.
- Cryptodollars are very important for mass adoption at the expense of platables.
- Mentioned stabelcoins in development from Curve (LLAMMA) and Aave (GHO).
NFT.
- An essential component for digital identity and ownership.
- NFT marketplace aggregators will solve the problem of low liquidity.
- Brands and corporations will continue to adopt NFT for user engagement, rewards, identity...
Overall, bet on BTC as the main crypto-index. Forecast for Ethereum and everything built on it (L2, NFT, DeFi, Stablecoin) and as a consequence - growth of ETH itself. Bull market is not predicted yet. Source.
Keep it to check in a year
