What will happen to the cryptocurrency market in 2023?

It's impossible to say exactly what will happen to the cryptocurrency market in 2023 and beyond. There are still more questions than answers. But by keeping an eye on a few overarching themes of crypto, you will be able to make better investing decisions as the market continues to evolve.

What is cryptocurrency and how does it work?

Cryptocurrency is decentralized digital money that’s based on blockchain technology. You may be familiar with the most popular versions, Bitcoin and Ethereum, but there are more than 9,000 different cryptocurrencies in circulation. How Does Cryptocurrency Work? A cryptocurrency is a digital, encrypted, and decentralized medium of exchange.

What is the future of cryptocurrency?

Countries adopting Bitcoin (or other digital currencies) as legal tender. As these issues develop and are resolved, the long-term future of the cryptocurrency sector will take shape. The picture may start to crystallize by the end of 2022 as governments and blockchain developers hammer away at their long-term crypto plans.

Is crypto an official currency?

However, that looks unlikely today since international views of crypto range from, "Bitcoin is an official currency," in El Salvador and the Central African Republic to, "Crypto transactions are illegal," in China. Global unity on the issue seems unlikely in the short term. Crypto regulations are moving forward on a federal level, though.