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crypto investment company M31 Capital shared its predictions for 2023, saying it expects Bitcoin (BTC) to surge.
The company said in its 2022 summary: report We anticipate further increases in hiring.
The document also states that chains and NFTs may evolve in new directions, and privacy technologies may become important.
BTC and recruitment
Considering BTC’s price performance during the bear market, M31 Capital said it was “incredibly bullish” on the next cycle. The report states that “no one voluntarily sold BTC,” indicating the community’s trust in BTC. The report ended its words on BTC by quoting Ryan Serkis.
We are in the realm of selling kidneys and buying more.
The company admits that cryptocurrency adoption continues to grow despite the bear market-induced pauses. Claiming that the winter of 2022 was a “temporary problem” like the bearish cycles of 2014 and 2018, the report said the crypto sector will continue the “UpOnly adoption trend” in 2023.
Another report from June 2022 predicted a similar trend for cryptocurrency and BTC adoption. According to the study, cryptocurrency adoption is in its early stages and has not yet experienced exponential growth. The report predicts that BTC adoption will break his 10% market penetration limit by 2030 and become a mainstream technology.
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Chains, NFTs, Privacy
The report predicts that the cryptocurrency environment will begin to evolve towards a cross-chain model, while also anticipating access NFTs to emerge as one of this year’s hot topics.
The text acknowledges that a substantial amount has been lost to bridging attacks throughout 2022, telling users, “Wrapped assets are dead. Long live interoperable native assets.” (RUNE) is the only protocol looking to contribute to a cross-chain future as the cryptosphere moves away from bridges and wrapped assets.
M31 Capital also acknowledged the success of NFTs and said it expects the hype around art NFTs to continue. However, he adds that 2023 will likely be the year that access NFTs emerge and offer new use cases. It also lists existing use cases such as Ethereum Name Service (ENS), Tesla door unlocking, ticketing and in-person events.
Finally, the company also said it expects regulation to overheat the Defi space and push permissionless Defi protocols towards alternative privacy solutions.Privacy is always a hot topic in the crypto space. While acknowledging that, the report expects increased regulation to create higher moves for privacy solutions.
